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Author Topic: DD on PRRM Called the CEO tonight!
rickpic
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now 5 @.0002 x 2@.0003
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Rags2BetahRags
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I am going to try and get in again.
I want to get double what I have.Im only a little fish so I dont think I should have too much trouble getting another 1M


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rickpic
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buyers are showing up here the volume is flying ands the bid has thinned yet again
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Waveslider
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I HAVE A 18 COUNT AT .0002 & .0003 GO BABY GO
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Rags2BetahRags
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Volume seems to be staying steady at least..Wonder if I will get back in again?
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Spinoff
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COMON DADDY NEEDS SOME PATCHES FOR HIS SHOES!!!
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rickpic
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.0002 x .0004 yes sa
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Rags2BetahRags
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Gotta love this for a first time ever buying.... Making money isnt so hard here!!!

LOL


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rickpic
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I got the feeling from the buying at .0003 today, that someone knows something i don't know yet, because it was kind of out of the blue buying and i don't hear from any boards I belong to that anyone was doing that buying and I also don't see posted anywhere any reason for the buying. It could just be technicals driving the buying, but that doesn't usualy come into play on bottom plays such as this. What I am looking for is a PR real soon! Just a feeling and a suspition based on todays activity! Lets hope that I'm right because we are so close to recovery to a high PPS than most of us bought in at or averaged down to.

Rick


[This message has been edited by rickpic (edited August 16, 2004).]

[This message has been edited by rickpic (edited August 16, 2004).]


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Spinoff
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Cool deal rickpic! I'm definitely likin' the volume we had today. We might just have somethin' here boyz!
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rickpic
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PRRM is moving up the PINK Sheets Quotes request list its now at #22
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Rags2BetahRags
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I like it more and more.

I sold some today and now I am staying with what I have for the free ride. In either case Im only playing with soemone elses money now. Im sooooooooooooo Happy


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rickpic
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Prime Rate Investors Inc., PRRM: Funding Hotel Acquisition; Retained Windsor Capital for Merger; Forward Split Set for Sept. 1, 2004; Owns Tampa Bay Mortgage Solutions Inc.
Business Wire - August 17, 2004 08:01

CORAL GABLES, Fla., Aug 17, 2004 (BUSINESS WIRE) -- Prime Rate Investors, Inc. (Pink Sheets:PRRM) announces that it is funding the Royal Arkansas Hotel and Suites and has been paid closing costs.

PRRM has also retained Windsor Capital, located in New York City, to find a merger candidate in the Northeast U.S. Prime Rate is looking for a "hard money equity" mortgage lender in the Northeast that also lends with a maximum 70% loan to value.

A forward stock split (owners of 10 shares get 1 share extra) has been approved by the board of directors and will be effective September 1, 2004.

Prime Rate typically lends through its subsidiary Tampa Bay Mortgage Solutions, Inc. and lends 70 percent of the value of property at rates of 15 percent per year, plus points. A typical term is 1 to 2 years. The company specialty is acquisition financing, construction loans, and lines of credit for builders and investors. The specialty of the company is "hassle free hard equity loans."

The mission of the company is to build a diverse portfolio of debt and equity instruments that will provide the shareholders with both current income and capital appreciation. The company has a web site http://www.prrm.us.

This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

SOURCE: Prime Rate Investors, Inc.

Prime Rate Investors, Inc.
Richard Astrom, 786-236-6434
fax: 305-666-3994
e-mail: nres74@hotmail.com
website: http://www.prrm.us

Customize your Business Wire news & multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at www.BusinessWire.com.

Copyright (C) 2004 Business Wire. All rights reserved.

--------------------------------------------------------------------------------



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rickpic
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PRRM has now moved to #18 on the PINK SHEETS quote request list! People are taking notice!
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Spinoff
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Not to bad for a sub sub penny to move up from 22 to 18 on the charts. I'm doin' the rain dance and it seems to be working
quote:
Originally posted by rickpic:
PRRM has now moved to #18 on the PINK SHEETS quote request list! People are taking notice!


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brendand00
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ricdic, and all of his supporters: where is the movement. A PR is out and no movement. Dang!! You guys are using eachother to feel good about investing in a stock that has no chance. Hey, but keep it up. Oh and by the way, my portfolio is bigger than all y'alls, but that is probably because of that 15 million dollar trust fund i just got. keep it up ricdic

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quote:
Originally posted by brendand00:
ricdic, and all of his supporters: where is the movement. A PR is out and no movement. Dang!! You guys are using eachother to feel good about investing in a stock that has no chance. Hey, but keep it up. Oh and by the way, my portfolio is bigger than all y'alls, but that is probably because of that 15 million dollar trust fund i just got. keep it up ricdic

Riiiight...

Well since we're all little people, why dont you go away and leave everyone alone, or is that actually how you made your millions..from paid bashing? Last I heard that was a crime.
http://bigcharts.marketwatch.com/news/articles.asp?guid={3A225BF9-EFAB-44AB-AAD1-C0C3123EF899}&newsid=816231877&symb=CLSI&sid=6938


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Spinoff
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your real name must be Kevin Bailey. So y don't you buy a hundred dollars worth and shut the hell up if you think we are pumping it. Y don't you buy into our program here. Your marketing strategy isn't working. Let us hypnotize you so we drain your bank account to purchase PRRM. Hey I've got a great stock for ya PRCK. It's close to your all time high. OR
you could be a part of a team which is probably something you can't adjust your ego too. Either way were happy to have you along for this one!

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rofl Spinoff
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Rags2BetahRags
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Well

Im happy being part of the little peoples.

With all that money I would think you should be able to afford a life AND a FIREND. Then again your last one deflated so i guess you gave up. Keep trying. Maybe you would be better off buying QBID for yourself and get yourself a dat at the same time.


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Spinoff
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SO TELL ME WHO DISLIKES THAT .0004!!! DADDY GETTIN SOME NEW SHOES SCREW THE PATCHES!! COMON HIGH PERCENTAGE POINTS!!! MAKE US SOME GREEN!!!
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rickpic
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PRRM is now #16 on the pink sheet most quoted list!

The .0004 at the end of the day was painting the tape, but it does look good in my portfolio! We wont know till tomorrow wheather or not it was buying at .0003 today or WIEN selling short just to buy it back at .0002 again or not!
The PR this AM was only a recap of the past three PRs, but
it tallies the events of the last 2 weeks and provides a reminder that the 10% share dividend is getting closer every day!
I am personaly waiting for the PR that says PRRM has aquired or has an LOI with a NE Hard Money lender! That is the one that makes this play, or begins to make this play.

Good Luck all!
Rick


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http://img.photobucket.com/albums/v258/wavslider/cfdg21462.jpg

http://img.photobucket.com/albums/v258/wavslider/cfdg21463.jpg

[This message has been edited by Waveslider (edited August 18, 2004).]


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rickpic
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WAVESLIDER

Thanks you for the chart looks great and many will be looking very hard at the great looking indicators it shows!

TAKE NOTICE PEOPLE

Thanks
Rick


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rickpic
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This little stock that wasn't even in the top 100 last week is now at #6 on the Pink Sheets most quoted list! Seems people are taking notice of what was basicly an unknown company 3 weeks ago. This can't be bad for those of us that bought it at .0002 and .0003
Good Luck Today!
Rick

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Spinoff
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Man your right Rickpic...just look at those volume numbers the past two days somethin's up
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brendand00
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quote:
Originally posted by rickpic:
This little stock that wasn't even in the top 100 last week is now at #6 on the Pink Sheets most quoted list! Seems people are taking notice of what was basicly an unknown company 3 weeks ago. This can't be bad for those of us that bought it at .0002 and .0003
Good Luck Today!
Rick

that means nothing, look at gwad and the other top five. they are really moving aren't they?? good work again!!


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brendand00
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quote:
Originally posted by Rags2BetahRags:
Well

Im happy being part of the little peoples.

With all that money I would think you should be able to afford a life AND a FIREND. Then again your last one deflated so i guess you gave up. Keep trying. Maybe you would be better off buying QBID for yourself and get yourself a dat at the same time.


no, but i could afford proper education, which is why you will never see me spell a kindergarten word such as friend such as you did (FIREND) can you spell GED correctly, oh wait, i just did. you are retarded.


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rickp
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Rickpic,
Don't worry about our new friend, I am with you . Your picks usually do quite well .

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Rags2BetahRags
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Yes you are correct. I had a typo. I make mistakes.

Now lets get to the real truth about finding out about your so called trust fund that you state but yet on a thread for MLON you are whining and crying like a little school girl over losing some money??????

Save your money...buy Kleenex....Get you education ....and live the wonderful dream. Clouds and Candy of the imagination are so beautiful when you believe. When you wake up though in your wet sheets with a deflated balloon hugging your pillow crying dont come whining to me


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rickpic
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quote:
Originally posted by rickpic:
PRRM is now #16 on the pink sheet most quoted list!

The .0004 at the end of the day was painting the tape, but it does look good in my portfolio! We wont know till tomorrow wheather or not it was buying at .0003 today or WIEN selling short just to buy it back at .0002 again or not!
The PR this AM was only a recap of the past three PRs, but
it tallies the events of the last 2 weeks and provides a reminder that the 10% share dividend is getting closer every day!
I am personaly waiting for the PR that says PRRM has aquired or has an LOI with a NE Hard Money lender! That is the one that makes this play, or begins to make this play.

Good Luck all!
Rick


I guess WIEN is still gonna continue playing till something solid comes out! I on the other hand will continue to hold, because I like the company concept and fundimental! There is $11 million dollars that I can trace backing up my investment at this time and I'm waiting for that number to grow in a very big way over time!

Rick

[This message has been edited by rickpic (edited August 18, 2004).]


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Heres some information on HARD MONEY MORTGAGES

Hard Money


Hard money refers to money that is borrowed at a high rate of interest, usually because the borrower has credit problems, or is not a bankable borrower due to an unusually high amount of credit card debt, etc. Sometimes it's because the borrower needs money faster than a bank will give it. In every case there must be plenty of equity in a parcel of real estate to qualify for a hard money loan.


If you do not have equity into your deal; you are not going to get a "Hard Money" loan!

The usual Loan-To-Value (LTV) ratio on hard money is between 50-60% tops! This means that if you have real estate with a Fair-Market-Value of $200,000; you can borrow somewhere between $100,000 and $120,000 against the real estate as a first mortgage. Hard money rates are always high: between 14%-24% and there are always points! The term varies from 1 year to 5 years. The Annual Percentage Rate APR is usually between 19%-28%!

The LTV on raw land and other non-income producing property is usually 33%. On land development deals the LTV can be higher. Credit rating is not too important in a hard money loan unless the borrower is simply a chronic deadbeat who is always behind on all debt.

Real Estate appraisals are not too important during the first year of ownership. All loan decisions are made based on purchase price.

Hard Money does not mean that we supply the money and you supply the brains!

It means you supply the collateral and we supply the money!

In all 50 States we have many "Hard Money" no-income verification, no-credit check programs available for commercial real estate of any type and for construction and land developement. Our typical loan in these situations is 40-50% of the value of the real estate. We do not place much emphasis on credit history or ability to make monthly payments! Many Hard Money loans can be structured so that there are no monthly payments. If your hard money deal makes economic sense, and you have plenty of collateral; Let's Talk!

Here's what we don't want to hear:

(These examples are not meant to sound insulting. They are simply mentioned to save us both a lot of time and phone bill expense!)

(1) You bought a parcel of property last week for $10,000. But you got a great deal because you're a genius and the previous owner is an idiot! The property is really worth $38,000,000! And all you want to do is borrow a mere pittance of $400,000 against the property.

(2) You're going to buy a distressed property for $5,000. After you fix it up it will be worth $38,000,000. You want to borrow $400,000 against the anticipated selling price.

(3) You have a chance to buy a "Can't Miss" business. The last 9 people who owned the business went bankrupt because they were all stupid! Now all you need is $400,000 and in a short period of time the business will be worth $38,000,000!

(4) You have an appraisal in your hand that states that a piece of property is worth $38,000,000. You can buy it for $400,000. You want to borrow $600,000 from us. $400,000 to buy the property and $200,000 for loose change to help with your living expenses until your ship comes in!

Hard money does not mean that we will lend you money at a high rate if you do not have equity of your own into the deal. If you have enough equity in your real estate we don't care if you're the Town Drunk or your going to jail in the morning! Chances are; you are going to get a hard money loan!

However, If you have no equity, and no money to put into a deal; you are simply not going to get a hard money loan. You don't need us, you need Jiminey Cricket, or a partner with some money!

We do not have any 100% finance programs!

Source: [URL=http://www.allcityservices.com/hardmoney.html]------------------------------------------------------------------------

[This message has been edited by rickpic (edited August 19, 2004).]


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Q+A about HARD MONEY MORTGAGES


Hard Money Lenders, Subprime Lenders, High Risk Lenders and Bad Credit Mortgage Lenders…
What do they mean and what are the differences?
We get asked this question all the time! So we have decided to set the record straight! In the mortgage lender business, a hard money lender, subprime lender, high risk lender and bad credit mortgage lender are basically ALL THE SAME! These terms for different lenders are interchangeable. They do however, have some basic underwriting guidelines they all follow.

When are hard money, subprime, high risk & bad credit lenders used?
Anytime a traditional lender, also known as a conforming lender, will not approve your mortgage requests. Some reasons for this include low FICO scores; recent bankruptcy; a balloon payment on an existing loan that is due now or even past due; inability to verify income, tax returns, bank statements, etc.; high debt to income ratios; a need for emergency cash quickly; odd or non-conforming types of properties, such as mixed use, multiple units, apartments, land, etc. You must own real estate or be purchasing real estate to use a hard money, subprime, high risk & bad credit lender .

Why do hard money, subprime, high risk & bad credit lenders approve my mortgage when others will not?
These lenders understand the real estate market, real estate loans and mortgages and are looking for a safe and secure investment. Since these types of mortgages are secured by a property with at least 10-30% equity, the lender is better protected and receives the benefit of the higher interest rate return, as the interest rate you will pay will be higher then a conforming mortgage lender will offer you. The greater the risk for the lender, the higher the interest rate for you. Oftentimes, you will need a hard money lender, subprime lender, or high risk lender to get a mortgage approval if you fall outside of normal guidelines. However, this does not mean that down the road you can qualify for a conforming mortgage.

Do I need to provide all my documentation regarding income, bills, etc?
This varies from lender to lender, but typically you will only need to provide minimum documentation to obtain the mortgage loan. There are many different options. Some lenders will not require income tax returns, but may look at your bank statements to verify your income. Or you may not need to provide any income documentation at all, and get a no income mortgage approval. Each hard money lender will look at the whole picture and determine if it is a mortgage that makes sense to approve.

What if I have damaged or bad credit with a low FICO score?
This is often the reason a borrower will need a hard money, subprime or high risk lender. These types of mortgages are usually used by individuals with past, recent, or current credit issues to rebuild their credit and eventually refinance to a more traditional type loan. FICO scores are used by all mortgage lenders to determine creditworthiness. Conforming lenders want to see a credit score of usually 640 and higher. High risk lenders will look at credit scores as low as 500! It maybe be possible to get a mortgage approval even with a credit score under 500, but oftentimes this requires a private investor. A private investor is an individual who lends out their own funds.


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Typical Rates and reasons!

Despite the pitfalls, lenders say that hard money loans can provide borrowers a lifeline in times of need. Consumers just need to make sure their loans will help get them out of debt, not bury them even further.

"If a property in a subdivision is worth $100,000, the loan-to-value on a hard money loan may be 50 percent to 65 percent, so maybe $65,000 maximum on a first mortgage is loaned against the property" to pay off the old lender who's preparing to foreclose, says Robin Snyder, president of Mortgage Bankers Ltd. in Baltimore.

"That does not mean that that customer can't take the property and sell it tomorrow for $100,000 and reap the benefits of that additional $35,000," he adds. "A person is better off paying 14 percent, or a higher rate than the normal rate of 9 or 10, to keep the property rather than lose it. Or say you don't get $100,000 for it, you get 90. Ninety is better than zero."

'Hard money' loan costs and terms
What does a typical hard money loan cost? That's hard to say because there really is no "typical" transaction. But someone trying to avoid foreclosure might run into the following terms:

Interest rates: 12 to 18 percent
Balloon payment: typical, usually due after 1 or 2 years
Loan position: must be a first mortgage, not second
Maximum loan-to-value ratio: anywhere from 50 percent on up to 70 percent
Points: 4 to 8
Assuming the worst rate and point structure possible, a $100,000 loan could cost as much $8,000 up front and $1,507 a month in principal and interest payments. Borrowers who don't want to end up paying such steep prices should contact their lenders at the first sign of trouble making payments. They may be able to work something out and avoid foreclosure.


SOURCES: Kirk Johnson, mortgage broker, Sierra Funding Corp.; Robin Snyder, president, Mortgage Bankers, Ltd.; Brandon Thompson, private money broker.



Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003  |  IP: Logged | Report this post to a Moderator
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Might just haveta pick up some mo if we see .0001 tomorrow.
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