Executive Summary

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Shark Bait is the only foreclosure buyers software system that actually seeks out equity. Now Shark Bait’s designers have just released their newest version, Shark Bait Expert Edition 5.1 !

Now, you can join the ranks of thousands of investors nationwide already using Shark Bait to streamline and manage their foreclosure property buying programs.

Shark Bait is the leading foreclosure buyers’ software made just for the foreclosure market. It works for buying properties in any stage of foreclosure: Notice of Default (NOD), Notice of Trustee Sale (NOS); Bank owned properties (REO's) and it even works for tax sales!

It is a complex, analytical foreclosure database system, designed as a simple, easy to follow step-by-step program.

What’s new about Shark Bait Expert Edition 5.1

Shark Bait Expert Edition 5.1 introduces a number of new features and upgrades that bring this system to the state-of-art level.

For example, when the user imports records into the database, Shark Bait instantly determines the approximate market value of each property, then tallies the amount of the known debts and calculates a probable debt-to-value (DTV) ratio.

This DTV ratio is the key to finding real equity in any foreclosure opportunity. Shark Bait then even calculates the probable current balance of all loans, using researched average loan interest rate tables for every known calendar year. This time frame can be modified or updated by the user.

The system will import, post and evaluate up to six loans on each property together with IRS liens, unpaid property taxes, and other liens of record. Shark Bait evaluates and re-evaluates the DTV ratio with each new piece of data imported or entered by the user.

Shark Bait Expert Edition 5.1 is Your Electronic Office Manager

Shark Bait will also sort through hundreds of foreclosure records, based on any chosen combination of complex variables, and quickly find just those deals that meet your investment parameters. With its property valuation, loan ranking, balance and calculation features, Shark Bait will save countless hours of time and legwork in tracking down and analyzing prospective foreclosure properties.

You can flag any record with a "yes" or "bid" tag, as you determine and upgrade your level of interest on each property. You can track, sift, group, organize, manage, build, evaluate, manipulate, analyze, merge and archive the ocean of data out there, and all of your foreclosure records.

How to Set Up Shark Bait Expert Edition 5.1

Shark Bait works with data in either a dBase (.dbf) or comma delimited (.csv or .txt) format. Like an engine, it needs gas (foreclosure records and sales comparable records (*Note: Make sure the sales comparables records links back the list page or to the sign up for the list) for the local market area). Once loaded into the system, Shark Bait takes it from there, providing all of the information and analysis for you in logical and straightforward screens of interest.

Shark Bait Expert Edition 5.1 Keeps You Up to Date

Shark Bait Expert Edition 5.1 checks for duplicate, or subsequent foreclosure notices against every record in the database, providing a pop-up screen during the import process listing every duplicate record. With a click, records can be compared as Shark Bait shows you just those fields of data that have new, or different information, then allowing you to update the original master, delete, or keep both records. This is a tremendous time saving feature for tracking and updating postponements, bankruptcies, and subsequent notices on the same property or loan.

Shark Bait Expert Edition 5.1 is Your Executive Assistant

With the built-in Check List Taskmaster, Shark Bait walks you through the due-diligence process for each property, making sure you don’t miss a critical step. The Mail Manager maintains a mail queue for form letters in logical groups (NOD, NOS, Trustee, Trustor, Beneficiary) that you can customize with a delayed sequencing for export and mailing. Once a property has been checked into any of the queues, you can forget about it, as Shark Bait automatically exports the records on the appropriate day for mailing, and even logs a record of the letter type and date sent.

A comprehensive Contact Management system ties trustees, trustors, beneficiaries, title companies, government agencies, contractors, and supplier contacts together, fully integrating each contact with one, or many properties that they may be involved in. With a few clicks, contacts can even be exported to Microsoft Outlook. Reminders, trustee sales, reinstatement, and critical date deadlines can all be posted into Outlook, complete with automatic population of the form (APN, address, purpose of deadline or event).

Up to 6 photos per record can be stored, along with comments on each, with the featured photo instantly appearing on every screen of the Control Room for a handy reminder of which property was which. With just a click, Shark Bait automatically maps any property location, with Microsoft Streets and Trips, pasting the local area into each record for quick reference and inclusion in various reports.

Need Repairs or Rehab? Shark Bait Expert Edition 5.1 Will Organize the Project for You

The Repair Schedule incorporates hundreds of commonly repaired items, in clearly organized groups, that you can establish with your typical preferences of material grades and labor costs. In minutes, you can click on those items intended for repair, or refurbishment, and Shark Bait will incorporate them into concise reports.

A Bid Analysis incorporates the repair costs, predicted resale price, sales costs and your anticipated bid, or purchase price together for an at-a-glance bottom-line profit analysis.

Every detail on every record can be pulled together in eight comprehensive reports, pre-designed for virtually every purpose of the foreclosure process. A clearly formatted Property Profile report organizes every detail, while the Planned Bids report summarizes your intended bids, or any group or records, based on any criteria. Maps, repairs, insurance binder requests, even reports to your real estate broker and title company are all generated in seconds.

Shark Bait Expert Edition 5.1 Will Sit You Down and Teach You

An animated Training Tutorial assures every user a hassle-free learning curve to getting the system up and running. The system is designed for point and click, operation and navigation with the familiar Windows environment. Basic Windows skills and knowledge are required. CRS Data Solutions provides direct 1 year technical support (at reasonable levels) to each user to help you get up and going. We also offer a 30-Day Money Back Guarantee.

Focus your time, efforts, and resources on those properties with "real" equity in them! Know this for sure: The only thing worse than not using Shark Bait, is bidding against someone who does!

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