Shark Bait Executive Summary

Shark Bait, the only foreclosure buyers software system that actually seeks out equity, has just released its new version 5.1!  You can now join the ranks of thousands of investors already using Shark Bait nationwide, to assist and manage their foreclosure buying efforts.  Shark Bait is the leading foreclosure buyers software made just for the foreclosure market, that works for buying properties in any stage of foreclosure: Notice of Default (NOD), Notice of Trustee Sale (NOS); Bank owned properties (REO's); and even tax sales.  It is a complex, analytical foreclosure database system, designed as a simple, easy to follow step-by-step program.

The new version 5.1 introduces a number of new features and upgrades to the state-of-the-art software system.  Upon importing 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 calendar year that can be modified, or updated by you. The system will import, post and evaluate up to six loans on each property as well as IRS liens, property taxes and other liens of record.  Shark Bait evaluates and re-evaluates the DTV ratio with each new piece of imported data, or entered information.

An important new feature of Shark Bait Expert 5.1 is valuation by zip code. Some foreclosure lists do not include assessor's parcel numbers or Thomas Brothers map coordinates, so it is now possible to determine value by way of neighboring properties located in the same zip code as the subject.

Shark Bait can sort through hundreds of foreclosure records, based on any 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.  Flag any record in Shark Bait by either Yes or Bid tags, as you qualify and upgrade your level of interest on each. Track, sift, group, organize, manage, build, evaluate, manipulate, analyze, merge and archive the ocean of data and all of your foreclosure records.

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 comps records for the local market area).   These comps are readily available from local real estate data services at a reasonable cost, or downloaded from the MLS through a broker for free.  Once loaded into the system, Shark Bait takes it from there, providing all of the information and analysis in logical and straightforward screens of interest. 

It even 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.

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, contractors, 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.

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.

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 lifetime support (at reasonable levels) to each user to help you get up and going. There is also a 30-Day Money Back Guarantee, so there's no risk!

Focus your time, efforts and resources on those properties with "real" equity in them.  

Remember, the only thing worse than not using Shark Bait, is bidding against someone who does! 

Click here to download or order now.