Thursday, December 31, 2009
60 Million Mortgages can qualify to be lowered and reset, Keeping these people in there home. I will pay you to help them!!
Come on the president means well, but have you ever tried to get something through the system. Good luck!! Cut and dry I will pay you $300 per applicant we get accepted to get there mortgage reset. All done through Attorneys and completely in the homeowners control.This is not network marketing, this is a grass routes campaign to keep people in there homes, reset there mortgage and lower the overall principle on there loan.
What do I have to do ADAM?
Market you little heart out!!
"Any Judge will tell you that a man that represents himself in a legal proceeding is a foul..."
Well the government loan mod program expects people to do it themselves (fouls). No it is your job to find the people, spend fifteen minutes with them, give them the list of things needed, once they get this to you it is forwarded to the attorney and you are done. I will pay you $300 per applicant that qualifies!
How do I know if they Qualify?
Simple: If there mortgage was recorded and closed with the title company through (MERS)THEY QUALIFY!
How do they know if this was recorded through MERS?
Simply call the title company they closed with and ask, or gather the information required and send it to us and we will tell you!
So I have taken all the excuses away, have given the entire US a chance to change there future: Find me 16 people a month to save there homes and I will pay you $5000 Cash.
Treasury officials, in the first comprehensive tally of permanent modifications made, say that loan servicers have converted 31,382 people from trial adjustments to long-term assistance as of Nov. 30, but 30,650 people in trial modifications have been denied. That means that only about 4% of troubled borrowers have received long-term help under the Obama administration's foreclosure prevention program. A nearly equal number of trial modifications have been denied permanent assistance, the report showed. The reasons include not making monthly payments on time, not submitting all the necessary paperwork and not qualifying for reasons such as insufficient income.
Homeowners claim that banks keep losing paperwork, but banks claim they often don't get it in the first place. Around 375,000 people should be eligible to receive long-term relief by year's end, but only one-third of homeowners who have made at least three trial payments have submitted all the needed forms, Treasury officials say, and some 20% have not submitted any paperwork at all. Banks and government agencies have hired outside companies to knock on borrowers' doors to assist them with completing the paperwork. None of this addresses the real problems, of course: a lot of people are underwater and don't see the point of making payments, and quite a few know they won't qualify once their real income comes to light.
DO NOT ATTEMPT TO DO THIS ON YOUR OWN, LET OUR ATTORNEYS FIGHT FOR YOUR RIGHTS !!
OVER 60 MILLION MORTGAGES MIGHT QUALIFY! ARE YOU OR SOMEONE YOU KNOW ONE OF THEM?
STAY IN YOUR HOME AND CHANGE YOUR FUTURE FINANCIAL OUTLOOK
We are committed to helping you reduce your monthly mortgage payment, lower your interest rate and lower your principal balance by at LEAST 10%, GUARANTEED!! *Average is more towards 20-30%
We offer legal representation to help you stay in your home, rebuild your credit and consolidate your debt.
We help homeowners who:
Do not qualify for a refinance
Do not qualify for a loan modification
Owe more than the home is worth
Are behind in payments
Are in foreclosure
Want to lower their interest rate
Want to lower their principal balance
We provide the following programs as part of our service to you…
So ask yourself, everyone is bitching about the economy so if the US needs a stimulus package lets do the math kid's:
60,000,000 (MERS Qualified Mortgages) x $300(paid to associate) = $18,000,000,000
SCREAM THAT ONE FOR THE CHEAP SEATS!
Not to mention helping this customer stay in there home. So save your house and get off your fat ass and help your neighbors while supplementing your income so you no longer have to worry about finances.
And who says I do not help people....
" No one changes Anything, without risking Everything"
I was reminded today to update my Blog after I had a cup of coffee with about the dumbest real estate investor I have ever met!!
Axioms Aren't Always True
Some things are repeated frequently enough they become accepted as common wisdom but closer inspection (not to mention recent history) most often portray a completely different understanding. Savvy REO investors would do well to take a look at these axioms that aren't always true.
Axiom #1 - Housing prices always rise.
Just a few years ago this headline seemed to be stealing the show as fevered buyers stood in line to snap up condo's and bidding wars drove home prices well above the initial asking price. Of course, those days are now long gone and with it the age old wisdom that housing prices always rise. But before tossing the entire idea out, take time to fully understand the basis for the original axiom; historically housing prices have risen and fallen but they do eventually reach higher and higher nominal values as a whole. In part, due to inflationary pressures. Since real estate is a tangible asset, it tends to retain value during inflationary periods of time. Because capitalistic economies count on a regular rate of inflation (roughly 3 percent), hard assets will tend to rise in value over long periods of time. That may be little consolation to those that purchased real estate at the height of the boom expecting it to rise even farther (these guys are the ones that have all of there portfolios in foreclosure). But should likewise provide tremendous consolation and encouragement to current REO investors buying distressed toxic assets my way.
Axiom #2 - Safety in Numbers.
When it comes to investing, this may be one of the most dangerous axioms still in existence. While there may be support for safety in numbers when it comes to purchasing a stock that has enough daily volume in order to sell at a later date, that is about the extent of it. (Example: Look at all of the new Condo projects being sold for pennies on the dollar now, They are not worth the 200k the where selling for and dnever will be) Remember, to make money in an investment requires others to give up their money or new wealth must be created (SFH bought and renovated at .50 cents on the dollar then sold to a family at .80 cents on the dollar, This is a good deal). Plain and simple, investors want to be the exception to the rule - not the rule. Contrarian investors tend to do well if they understand the fundamentals of value, wealth creation and the tax structure currently in operation.
Axiom #3 - Buy & Hold is the best strategy.
Although buy and hold is certainly a viable strategy, it isn't the only game in town. A fast flip can often jump start a sluggish portfolio or bring in enough funds to generate more meaningful gains. Even those that adopt a long-term investment strategy should not simply "buy and hold" but rather buy, hold and rebalance based upon new tax information, depreciation schedule and other individual circumstances. Just as one size doesn't fit all when it comes to investing, the same applies to each property purchased; one parcel may be perfect for a quick flip while another may generate long term profits with a buy and hold strategy.
Thursday, December 24, 2009
Did you ever wonder? I wonder every day, just simple thoughts for those of you that really want to make a difference!!
Why the sun lightens our hair, but darkens our skin?
Why women can't put on mascara with their mouth closed?
Why don't you ever see the headline "Psychic Wins Lottery"?
Why is "abbreviated" such a long word?
Why is it that doctors call what they do "practice"?
Why is it that to stop Windows 98, you have to click on "Start"?
Why is lemon juice made with artificial flavor, and dishwashing liquid made with real lemons?
Why is the man who invests all your money called a broker?
Why is the time of day with the slowest traffic called rush hour?
Why isn't there mouse-flavored cat food?
When dog food is new and improved tasting, who tests it?
Why didn't Noah swat those two mosquitoes?
Why do they sterilize the needle for lethal injections?
You know that indestructible black box that is used on airplanes? Why don't they make the whole plane out of that stuff?
Why don't sheep shrink when it rains?
Why are they called apartments when they are all stuck together?
If flying is so safe, why do they call the airport the terminal?
If con is the opposite of pro, is Congress the opposite of progress?
The reason I post this is that we all sit back everyday helping ourselves, but looking past the real people we should be helping. Ask yourself a simple question "What have you done to help others? What are you willing to do? Have you truly sacrificed? Are you a good guy or a bad guy?"
Speaking from experience I am the "BAD GUY" because I do help people. I am just not what the system makes everyone else to be. As stated by my 9th grade social studies teacher I am a rouge knight. And frankly proven by history that is what the world needs.
Saturday, December 5, 2009
The experiment is very simple, people on the social sites are networked with each other for there related likes, fields or opportunities. The objective of these sites is for people to be able to find other people they know, expand the group or find other opportunities.
Here is the opportunity of the experiment: There are over 4 million people that have had a foreclosure filed on there home in 2009 alone. This number could almost double in 2010. The goal of this experiment is to see how many people we can reach, an pass along the vital information that might be able to keep them in there home without losing it to foreclosure.
This experiment does not require anyone involved to have to learn, study or pass any licensing, just forward the blog to anyone they know in the continental United States.
Here are the program details: This program is managed by attorneys across the United States.
SAVE YOUR HOME / REDUCE PRINCIPLE / STOP FORECLOSURE NOW!
If you are late on your house payments, and don’t see a way out. There is still hope, but you must act fast!
I CAN HELP SAVE YOUR HOME FAST!
You don’t have to let a bank foreclose on your home.
You don’t have to let them ruin your credit.
You don’t have to suffer one more day with the stress of how to fix the situation!
Get answers and an action plan…
TOTAL MORTGAGE RESET
- THE MOST POWERFUL HOMEOWNER PROGRAM AVAILABLE
- NO 2 OR 3 YEAR BAND AIDS
FREE ANALYSIS OF EACH CLIENT'S SITUATION - NO UPFRONT FEES
10% MINIMUM PRINCIPAL REDUCTION GUARANTEE OR 100% MONEY BACK (CURRENTLY AVERAGING 20%)
100% COMPLIANT - ATTORNEY NETWORK (ALL 50 STATES)
This program is NOT a loan modification program, but rather a FULL CIRCLE PACKAGE where we analyze different areas of clients financial picture, where the mortgage is only ONE part and is looked at first as it is the largest investment most people have. After this area has been addressed there will be an analysis of credit, other debt, and long term wealth restructuring and correction.
Reply directly to the discussion for more details and to change any mortgage worries today!
Contact us directly: email@example.com
Monday, November 30, 2009
Why Private Money Investing Now?
This economy has created the perfect “storm” for Private Money Investing. With foreclosures at the highest rate since America was founded. Real Estate investors are seeing prices at an all time low. The problem most investors are facing is the lack of funding or private financial partners to make money with in the best market in history.
Ask yourself this simple question: Where are the 4 Million plus people that filed or lost there house to foreclosure this year (2009) going to live?
The Answer is simple: Investment properties....
Conventional lenders have significantly limited their programs on investment houses. Banks simply aren’t making investment loans right now. Investors are desperate for funding and have turned to private lenders for cash. Private lenders are earning higher returns on their money than ever before.
If you’ve been looking for an alternative to market investing or looking for the high returns from real estate, but would like to avoid the hassles of owning real estate; private money lending is the answer.
So, what is a Private Money Investing?
It is a loan made to a real estate investor that is secured by real estate.
Private Money Loan Investors are given a first mortgage that secures their legal interest in the property thus securing their investment. With my program the private investor has the first lien (ownership) on the property, is on title and the rehab draws are dispersed after each level of construction is completed.
We are not talking about high Loan-To-Value (LTV) ratios the banks and savings and loan institutions make on homes. We offer low LTV ratios to our Private Lenders to increase security of the loan. Our standard LTV ratios are under 70% of the value of the property securing the loan and frequently as low as 60% to 68%. This means additional security on the investment
Private investing offers:
Steady Consistent Monthly Cash Flow
Payments can be made monthly, quarterly or annually
More security Than Any Wall Street investment
All investments are secured by real estate; as well, as a personal guarantee
9 to 15% Annual Fixed ROI
Current rates @ 12%
Investment Control and Portfolio Diversity
Investments start @ 25k with no max.
Short or Long Term Investment Opportunities
Investment terms range from 4 to 36 months
S/E Directed IRAs and 401Ks are welcome
" No one changes Anything, without risking Everything"
Monday, November 23, 2009
Total filings for Q3 of 2009: "937,000" filings...50/50 PROFIT SHARE FOR FINANCIAL INVESTORS/ GREAT COMMISSIONS FOR CFO THAT FINDS THE INVESTORS!!
Real People with Money "Or can raise immediate capital" needed to make real profits!!
50/50 PROFIT SHARE FOR FINANCIAL INVESTORS/ GREAT COMMISSIONS FOR CFO THAT FINDS THE INVESTORS!!
This opportunity is for real investors only, average investment is 50-55% LTV or $70,000 per property for complete renovations and supplies.
· All budgets are broken down into draws after completion of each individual stage. Draws are broken down in 4 stages of $17,500 per stage over a 4-6 week period.
· Average return on investment is 90 – 120 days.
· Average profit per project is $50-60k after all commissions and closing cost.
· 3 exit strategies for each project
· We pay cash for the home, investor secures property with 1st position lien until home is sold
Before Photos of Project Before Renovation (BEFORE)
Current Project Listing After Renovations (AFTER)
Click the following URL to see the listing:
This is the best blueprint in the industry, and only for real investors or brokers that have real clients. Please respond with full contact information for immediate consideration. Private investors, Hard Money or Private banking institutions or welcome to reply. For the institutions the 50/50 split does not apply but very lucrative points and interest will be made available
Here are the hard stats that justify my offerings to the right people.
As foreclosure filings continue their year-over-year growth of 19 percent in October, REO sale investors may wonder if now is the time to invest or if their investment dollars would be better spent later. Despite the dismal news that foreclosure filings grew 19% compared to a year ago, close inspection indicates overall foreclosures have declined three months in a row.
Some of the hardest hit states - and most popular short sale locations - including Nevada and Florida, actually saw year-on-year declines.
But frankly, I argue that those “declines” are simply because banks are attempting loan modifications that will likely not be successful in the end.
So, what is the real status of foreclosures? Here are a few facts to keep in mind when trying to decide whether to take the plunge now or later:
Highest Foreclosure States as of October 2009:
• Nevada - 1 out of every 80 units
• California - 1 out of every 156 units
• Florida - 1 out of every 168
Highest Foreclosure Cities as of October 2009:
• Las Vegas
• Major Cities Throughout California - several including
Merced, Stockton, Modesto & Others
• Cape Coral/Fort Myers
Total filings for Q3 of 2009: 937,000 filings...
Total notice of default filings for 2009: 3.8 million excluding Q4.
Number of adjustable rate mortgages scheduled to reset by 2012: 10 percent of all mortgages with the peak occurring in the second half of 2011. Remember, it can take several months to a full year before lenders take a property back.
Number of ARM borrowers that are currently delinquent on their mortgages: 20 percent.
Value of ARM loans due to reset by 2012: $1 Trillion dollars.
While the above information may seem to indicate a wait-and-see approach, it must be weighed carefully against the following information:
Low Reserves: The FHA or Federal Housing Administration announced on November 12 that their insurance reserves had fallen below their congressional mandate to only $3.6 Billion, down a full 72 percent from a year earlier and representing only 0.53 percent of the $685 billion in loans insured by the organization.
Translated to plain language = without intervention it could become more difficult to obtain FHA loans and banks holding high number of FHA insured loans are likely to further increase lending standards to offset the additional risk. Since FHA combined with Freddie and Fannie now underwrite 90 percent of all new mortgages, expect continued tightening of credit terms into the foreseeable future.
Bank Failures & FDIC: While not comparable to the S&L Crisis which eventually lead to the closures of hundreds of small lenders, the 120 U.S. banks that have failed this year have already depleted the FDIC funds; at the end of Q2 2009, the FDIC only had $10 Billion in reserves to "insure" over 4.8 Trillion in deposits...a dismal ratio of only 0.22 percent.
Low Rates: Despite the bad news, interest rates remain near historic lows making it more financially feasible to finance a REO sale for long or short term investment potential.
Tuesday, November 17, 2009
According to credit reporting agency TransUnion, delinquent mortgages were up 58% from 3.96% a year ago, and as of Sept. 30, 6.25% of U.S. mortgage loans were 60 or more days past due.
Two months delinquency is considered a first step toward foreclosure because it's hard for homeowners to catch up with payments at that point.
The rate of delinquency is slowing, however. (Funny how deliquencies are up 58%, but in the same article they say they are slowing...HMM could it be that it is the end of the year and they will just roll the stats into next year?) The rate was up 7.6% from the second quarter -- a much smaller jump than the 11.3% rise in the second quarter and a 14% rise seen in the quarter before that.
F.J. Guarrera, vice president of TransUnion's financial services division, says that while the slower rate is encouraging, the continual increase shows there are still a lot of problematic mortgages out there.
Mortgage delinquencies remain highest in the four states where the crisis has hit the worst: in Nevada, the rate reached 14.5%, up from 7.7% a year ago; in Florida, the rate was 13.3%, up from 7.8% last year; in Arizona, the rate hit 10.4%, up from 5.5% in 2008; and in California, the rate jumped to 10.2%, from 5.8% last year.
(I wonder what Stetaes I am going to focus on in the Future...http://mortgage-portal.biz/_renovation/ Wow the majic 8 ball says we are already there!
Two things have to get better before mortgage delinquency rates start reversing themselves: home values and unemployment. "Until we see improvement in both of those areas, it's possible that it will take longer for delinquency to improve," Guarrera said.
Here Come the Holidays...Another Reason to Rejoice!
It's that time of year when families gather together for a good old fashioned feast, hours of football games and parades plus plenty of healthy debate. Whether you adore all your in-laws or can barely tolerate the thought of listening to stale jokes for one more year, chances are the holidays will still make any REO investor rejoice due to timing. Yes - timing.
It's a not exactly a trade secret but the holidays present the perfect opportunity for REO investors.
First, few buyers are making active offers during the holidays...and those numbers drop to near zero on Thanksgiving and Christmas Day.
However, research shows those same days are actually the best time to make an offer on a home. It seems most sellers are in a good mood and more generous so willing to accept a lower than anticipated offer.
Of course, it doesn't hurt that home prices tend to drop to a twelve month low each December and sellers are very serious about selling - or at least getting a good offer- before the end of the year. People have a mindset that wants closure by the end of the year so having a signed contract on hand provides the peace of mind the need and want to get on with the rest of their life.
To shy or busy to drum up business on an actual holiday?
Try the first Tuesday of the beginning of the month. Not only has the bank made yet another mortgage payment but they didn't receive an offer from anyone that happened to view the home over the prior weekend. Likewise, if you miss house-hunting during December, wait until early January to present really lowball offers; banks, brokers and sellers alike know few people want to trudge through rain, sleet and snow while looking at homes plus the first of the credit card balances are beginning to come due after the big holidays.
Think of it as one more way to motivate sellers and bankers to accept an offer without the need to beg borrow or plead. Instead, point out the obvious to them - the bills are piling up, fewer homes tend to sell and it could be a long, cold and hard winter if they opt to wait it out rather than accept your bid.
Finally, one last word of advice when presenting a holiday offer for a REO home; use a bid that ends in a zero such as $75,000 rather than a precise number such as $75,497. Research shows people perceive precise numbers as lower and amounts ending in 000's as higher. The reality may be quite the opposite but like the old adage - perception is everything.
Friday, November 13, 2009
Keep to the rules I have talked about in the past but before anything "how do I know if a property is a good deal?" (this was the question asked to me four "4" different times this morning from a potential investor / NOT!)
How to quickly know if a property is a good deal
Here’s a handy method to get a good idea, at a glance, if a property is worth a closer look…
This is called the “price per square foot” method you can use to quickly evaluate a deal:
Take the price of a house
Divide it by it’s square footage
The number you get will be a benchmark by which to evaluate that property by.
House price/square footage= price you own the home for!
BAM!!! YOUR A REAL ESTATE GURU!!! YOU OWE ME $4995 FOR THIS LESSON!! lol
For example, if most the houses in a certain square mile are worth about $150/sf, then if you find a deal that is $120/sf then you may want to look into it. Likewise, a deal that is $150/sf or over, you can pass on right away.
Some things to keep in mind:
Attics and basements are usually valued lower–so if a house is 2,500sf but half of that is unfinished basement, the price per square foot will be lower–maybe that’s why it’s $120/sf instead of $150/sf.
Upgrades and damage may not be taken into account.
The property location will play a big role in the price.
Verify the square footage–sometimes garages are included, sometimes they aren’t.
Sometimes it’s just the “living” areas.
The amount of land the property sits on makes a difference.
Can you rent part of it out? Rental income adds value to a property.
Know your neighborhood
The important thing to get to know one area very well, and then branch out from there. Start with the neighborhood you live in. In a future BLOG I’ll talk about having a “farm area” that you’ll get to know really well. Farm Area definition: meaning something you invest in and grow, like raising crops "you get out what you put in".
Your local county records office (if they have it online that’s even better) and zillow.com are two places to start to get a feel for the price per square foot of a particular area.
The numbers on these web sites are not always completely accurate, but they’re great for getting an overall average price per square foot on any given neighborhood.
Keep in mind that the price per square foot method is just a quick look at any property. Use it just as a way to reject obviously bad deals or as a green light to look into a deal more closely.
I will use one of my homes as an example so you can see how I look at a house:
Purchase price $20,000
Square feet: 1300 square feet
$20,000 / 1300 = $15 per square foot
$70,000 renovation budget
$70,000 / 1300 = $53.85 per square foot (brand new)
Total cost into home: $68.85 per square foot
Average home in area selling for $107 per square foot!!!
NOW CHILDREN FOR THE LEARNING PART OF TODAYS SESSION:
This is a real formula and a real home!!
Houses selling in the neighborhood, are not new, do not have the ammeneties that mine does but are selling at $107 per square foot.
We list ours at $107 per square foot and it sells immediately!!!
NOW LETS LOOK AT THE PROFIT SHALL WE.... (DRUM ROLL)
$107 SOLD PER SQUARE FOOT - $68.85 COST PER SQUARE FOOT = $38.15 PER SQUARE FOOT PROFIT
$38.85 X 1300 SQUARE FEET = $49,595 CASH PROFIT
Now let me ask you the reader a question,
IS THAT A GOOD DEAL?
Have a great weekend, e-mail me with any questions!!
Thursday, November 12, 2009
Like any investment strategy, a bit of intelligence can go a long way. Here to help get you up to speed are the seven most important rules for intelligent investing:
1. The Greatest Risk to Your Return is YOU!
Repeat this every day until it sinks in. Nobody else is to blame for your failure or success but both are within your grasp. Recognize how your actions and attitudes either work for or against your success on a daily basis then get busy building wealth.
2. Don't Hire Advisors Without Value.
Mentors, information products and advisors are essential but make sure they will actually add value rather than just costing you more in the long run.(95% of the people that want to learn, work for you or partner really are only there for themselves and will only cost you time and money out of your budget.
**Ask your self this: Did this person bring money, credit, or physically work and rebuild the house with you. If the answer is no to any of these dump them like a hot potato. They are leaches and will do nothing but drain your budget.
3. Ignore Short Term Noise.
The media thrives on generating chaos - its entertaining but not necessarily good investment advice. Learn how to see beyond the madness to see true opportunity. They make money by telling stories, we make money by rebuilding the community. Houses don't lie reports and writers do!
4. Manage Expectations.
Learn how to crunch the numbers, generate profit potentials, remain liquid and tackle taxes to keep expectations in alignment. If you find your numbers are "off" then understand why and how..then fix it. If they are consistently off then you don't have a math problem...you have an attitude issue to work with. Likewise, learn how to manage the expectations of others - from sellers to bankers it is important to keep the lines of communication clear.
5. Don't Confuse Investing with Entertainment or Speculation.
Hey, REO's really are fun once you get a system in place but that doesn't mean you shouldn't treat it like business. Avoid ego trips, power plays or any type of games -keep the speculation for the tracks and entertainment for poker night.
6. Reduce Costs - Maximize Write-Offs and Enhance Profits at each and every step.
Do not allow yourself to fall into the pattern that it doesn't matter (Everything and every penny matter, speaking from personal experience I just had a project manager cost me 20k over budget because he just wanted to stand around and order people to do things instead of doing it himself).
A little extra here and a little extra there add up to big differences in the bank account over the long haul.
7. Focus on Real Returns.This isn't Monopoly money. Focus on after cost, after tax, after inflation, actual risk adjusted real returns on every dollar invested. That is the final measure of risk versus reward so make sure it accurately reflects your total investment. While the government might be satisfied to play games with inflation adjusted returns, don't believe it for a minute.
Saturday, November 7, 2009
Ok today's teaching session will cover the consequences of each program. To make sure that anyone involved with me is crystal clear on both of the options so no one ever has to bring these questions up to me ever again.
Short sale: A short sale is when the seller agrees to work with an agent that will negotiate and sell there house at a discounted rate (that the bank has excepted) to another end user or investor. The seller has now lost there home and has to move on into a rental. (the only people that benefit from this are the real estate agent, the bank and the new buyer)
*no one should ever suggest to there client to short sale a property. Short sale strategies are for idiots. They only benefit the buyer (us, not the seller, them)
Now for a customer that has found themselves upside down in there home, there interest rate adjusting but can afford there house payment if the loan was modified to a correct rate the true and only program that will work for them is a Loan Modification.
Loan Modification: A loan modification is for any homeowner in today's market that wants to lower there monthly payment and restructure there loan to the current value of there home in today's upside down real estate market. (like Short sale programs, there are tons of agents/ brokers offering loan modification programs. They are only out for a quick buck and like short sales less than 4% are ever effective)
That being said Loan modifications do work, but if you choose to save your home, lower your payment and set your interest into a fixed position only go with a Loan Modification through an attorney.
No one else, just like every loan modification I have done for friends, family and my other investors. The only effective way to negotiate the modification is through the attorney directly to the bank.
Hmmm: Why is Adam sharing this information with us??????????????????????????????
The reason I am sharing this information with you is because I am tired of people approaching me everyday, offering me super good deals on short sales, telling me how much money I can make convincing people to short sale there house, and in general looking at how many new foreclosures pile up everyday.
So I have now given all of the guys offering me these short sales, something better to do with there time than to steal peoples homes and dreams.
How about now guys you go save mom and dad's house from foreclosure. Come on do something good for the community, Ya I know it doesn't pay as much as the short sales, but man it sure saves a lot of families from being homeless.
YES THIS BEING SAID I WILL NOW ALSO HELP SAVE FAMILIES HOMES BEFORE THEY ARE LOST TO THE SHORT SALE OR FORECLOSURE MARKET!!
Watch out short sale gurus, there is a new kid in town to start showing people the truth behind your little program.
Now another point I want to address with everyone that was brought to my attention was the question about how a Short sale vs. Loan Modification will effect your FICO?
Short sale agents tell there customers that short sales will not effect your Fico score. This is the biggest crock I have ever heard. 1st of all you cannot enter into a short sale with the bank until you are 3 payments behind. Meaning in layman's terms you have not paid for three months. Can anyone say Fico score going down...
"Sarah Davies, vice president of VantageScore, at the Loan Modifications Conference now underway in Dallas, Texas, says restructuring plans on a mortgage, whether in the form a forbearance or Loan Modification, have a relatively insignificant effect on the consumer’s credit score. VantageScore measures the generic consumer’s credit score and his or her likelihood of slipping into 90-plus day delinquencies on a scale of 501 to 990. If a servicer reduces a consumer’s original loan amount from 10-to-30%, the consumer’s credit score is only increased by three to 18 points, depending upon the consumer’s initial standing. Borrowers in the top-tier of credit scores, averaging an 862, receive only a three-point increase. Lower tier borrowers, in the 625 range, can receive an 18-point jump. The credit score increases because the total amount of debt owed is reduced, and the borrower becomes inherently more reliable, Davies said.
However, foreclosure, bankruptcy and short sale can more severely affect the consumer’s credit score. If a borrower, who maintains good credit, is foreclosed, his or her credit score can decrease by as much as 140 points. Bankruptcy for someone in good credit standing results in a reduction of 365 points from the consumer’s credit and a mark on the file for seven to sometimes 10 years, Davies said.
So kids lets scream it once for the cheap seats:
LOAN MODIFICATIONS GOOD
LOAN MODIFICATION PROGRAM:
Loan Amounts: $250,000 to $10,000,000 and higher
Available in all states
Property Types: SFR / OO / NOO
Loan Type: Refi, no Cash out, same lender
Credit: NONE, no FICO required
Doc Type: Full Doc or Stated Income, self employed ok
Benefits to the Borrower: Avoid Foreclosure, Lower payments, Lower balance
Exit Strategy: Needs to be in place, only good for 3-5 years
First Lien: 90% LTV, even 100%
Start Rate: 1% - 5%
Prepay Penalty: 0-3 yrs hard
Average cost: $2500-3000
current pay off: 500,000
Monthly payment $ tba
value: $ 300,000
In that scenario we would target a $ 300,000 new principal balance with an interest rate of 2-5%.
There is absolutely NO guaranty your lender will modify your loan.
But we will work hard for you.
Our Lawyers will talk to your lender directly, to ensure every effort and area is covered.
We have a 90% success rate.
It will take you approximately 2 hours to collect your paperwork,
after that it will take us approximately 90 days to get a modification done.
Here is a list of the lenders we have the highest closing ratios and relationships with:
Bank of America
Goldman Sachs Group Inc
JPMorgan Chase & Co
Wells Fargo & Co
PNC Financial Services Group Inc
Bank of NY Mellon Corp
SunTrust Banks Inc
State Street Corp
Capital One Financial Corp
Regions Financial Corp
American Express Co
Fifth Third Bancorp
E-mail me for an application and lets save your home today!!
Friday, October 30, 2009
What amazes me is the ignorance and stupidity of so many in the profession, our the lack there of for the people that invest or buy a home that pays there bills.
So ready or not here it comes so you might as well begin it with a smile on your face.
Here to help is a quick guide to real estate lingo and sales-speak that would put even the best double-talking politician to shame.
Who knows, it might even help provide a different perspective on properties while you are out and about this weekend.
Low/No Maintenance Yard : The former owners paved over everything so there is no grass for the kids or pets. Forget buying a lawnmower and opt for a pressure washer instead. As a plus, parking is plentiful.
Quaint : So small only one person at a time can enter the kitchen and three is a full house.
Move-In Ready : We painted and called the carpet cleaner.
Seasonal Creek : Flash flooding alert!
Neighborhood Watch : The busy-body that lives next door knows everyone’s business and will call the police to report your dog the first time it gets out.
Country Living : Bring emergency rations since you are sure to get lost trying to find the property.
Cozy : Leave your king sized bed and overstuffed furniture behind.
Three Season Sunroom : Non permitted addition without insulation.
Near Transportation : Jets fly overhead, school bus stops in front yard and interstate is 20 feet away.
Nature Lovers Delight : Raccoons rip through the trash 3 times per week and your car insurance will go up after colliding with deer every year.
Energy Efficient : So small you can use a camp stove to heat the house.
Close to Everything : We didn’t sell when we should have so they built the mall around us.
Corner Lot : Constant traffic or the local neighborhood hang-out where kids of all ages congregate 24/7 and neighbors walk their dogs to do their ‘business’.
Meticulously Maintained : All original fixtures, appliances, cabinets and carpeting dating back at least 20 years or more.
Desirable Neighborhood : 20% premium based upon snob appeal.
Stunning Views : You will need a 4x4 to get up the driveway.
Lots of Storage Space : Unfinished attic or basement that is too small to do anything else with.
Completely Remodeled : Meaning you are buying our property, and the only one worth buying on the MLS!! See the link below!!
click the following URL to see listing
For an end buyer this house is brand new, nothing that needs to be done.
For an investor this is a house that will rent in a week and cashflow $500+ per month from the gate.
How is that for a comedic education wrapping up a Friday!!
See you at the top! "Bitches"
Tuesday, October 27, 2009
But do you really have what it takes to become wealthy with REO's or anything in life period?
The plain and simple fact is that many people think they are using positive thinking strategies for working their investments when in reality they are simply playing head games.
See how you score with this set of “truth serum” questions…then learn how to stop playing games and start investing for real wealth and success.
1. Do you have 20, 10, 5 and 1 year goals written down on paper...or are they simply stuck in your own mind? Research has consistently demonstrated those that actually write down goals are much more likely to accomplish them later. If your goals are just in your own mind it’s an indicator you are playing head games rather than setting the stage for long term accomplishment. Put them on paper – be specific.
What is your net worth goal at each stage?
How many homes for what average profit are required to get you there?
What is your acceptance ratio?
How many offers will you need to make each week/month to achieve that goal?
2. Do you focus on attitude or actions? Although attitude can change behavior – it’s much more likely that behavioral actions will change your attitude. Having a positive attitude is important but attitude alone will not close a deal; instead, your attitude is likely to reflect your degree of preparedness and successful closing of deals.
Don’t fall for the trap of believing all that is required is simply a good attitude – remember, actions speak louder than words. Get a proven plan of action that works then get busy implementing that plan every day.
3. Have you named your constraints? Everyone has obstacles and objections that limit their investment potential but have you taken the time to actually list each and every one of them?
The first step in learning how to live without limits is to put them into proper perspective. Write them down then take a long hard look…(those of you around me know what I am talking about 1. moved out of state, 2. single parent, 3. wife worries about money, 4. bills to pay, 5. child support, 6. alimony to ex wife, 7. what if we fail, 8. don't like who I am working with, 9. don't have daycare, 10. I have been working for 40 straight days)which ones are true impediments to your success and which ones are merely “dislikeable” or "fucking excuses"?
For example, if you wanted to double your profit potential, you already know how many additional offers will need to be made each month (assuming you have already worked out numbers 1 and 2 above); how will you fit that time into your existing schedule in order to reach your goal?
Is it impossible to turn off the television for a few extra hours each week or just a question of determination? The choice is yours but be sure not to engage in self sabotage – name each constraint then list the solution beside it. once you have named the constraint and understand it the FIX IT!
Learning to live without self imposed limits is easier than you might think but it does require a few simple steps;
Clarity, Competence and Concentration.
These 3-C’s of success are the cornerstone to every investor / successful person.
Do you have the clarity required to truly accomplish your goals are you merely in the day-dream or talking stage?
If you aren’t acting then take a long hard look; lip service is cheap. Competence is essential to any strategy but fortunately for novice investors, it’s also "possible to purchase expertise": ME
doctors, lawyers and even real estate brokers all routinely sell their expertise.
Make it work for you buy committing to your own success. Concentration requires focus, determination and dedication to pursue your goal without becoming bored, fearful, anxious or allowing other negative emotions or situations (REMEMBER WHEN PEOPLE HAVE SOMETHING ELSE THAT NO ONE HAS, THERE IMMEDIATE REACTION IS TO ATTACK OR DISCREDIT WHAT THOSE PEOPLE ARE DOING OR HAVE) to interfere.
I have seen all the dirty tricks others will pull to discredit, shame, slander or place liable. Just to see if they can stop, cause problems or make people give up. (LOOK AT RECENT EVENTS, I HAVE PEOPLE RUNNING SCARED FOR THE FENCES BECAUSE WE JUST FINISHED THE FIRST MN PROJECT ON THURSDAY 10-22-09. AND WAS ALREADY GETTING FICTITIOUS ATTACKS BY SATURDAY 10-24-09) DUMB ASS BITCHES!!!
So Add them up to see where you stand, if you keep the three points labeled above in check personally, no one and I mean no one will ever be able to stop your success.
But on a personal note: make sure to always check you back field for those that are not truly on the team. There are always a few!
" No one changes Anything, without risking Everything"
Saturday, October 24, 2009
1. When interviewing an agent, ask to see a HUD statement of how many homes they have purchased / invested in...
Note: Less than 3% of all licenced agents across the US actually invest in the business that is there chosen profession.
(OK STOP THE PRESS!! THAT IS LIKE BUYING MEAT FROM A BUTCHER THAT IS A VEGETARIAN)
If they are professionals make them show you. If they cannot show you they are investing,
1st WALK AWAY
2nd CALL ME.....I WILL INVEST WITH YOU
2. Do you know how much they make:
I WANT EVERYONE TO PUT ON THERE THINKING CAPS FOR THIS NEXT LITTLE PIECE OF SCHOOL!!
Average purchase through my program with a breakdown of what the agent makes with me:
Purchase price of home: $20k
Bank pays buying agent average of $2-3,000 for me Buying this bank owned property: $3,000
We sell the home to end buyer / investor for $145k and pay agent 3-6% for selling: $8,700
So..... If I am an agent buying homes for Adam I can make worse case scenario $7350 per house that he successfully buys and sells every month.
$7350 for signing a few lines on purchase agreements, a few faxes, showing a house other people put there blood sweat and tears into.
3. If you meet with the realtor and he is investing, can be trusted, is willing to lower his commission or pay you half!
Then if he is serious before you end your meeting paperwork should be in order and a sign in the front yard before he leaves, your property will be on the MLS in less than 24 hours and you will have showings and marketing material in place withing 72 hours.
IF NOT AGAIN
1ST WALK AWAY
2ND CALL ME....
I am sharing this because I have personally seen the wrong agent ruin peoples lives! Because they have a license they paid $400 for and attended classes for 30 days. Just because you went to a months worth of school does not make you an expert. (Read between the lines) I know plenty of people that w ill come to me and tell me how many years of experience they have, first thing I say to them "IF YOU HAVE THAT MANY YEARS INTO THE GAME SUCCESSFULLY, WHY AREN'T YOU RETIRED?"
I personally have chewed through 100's of agents just to find the 3% of guys to work with.
(Seriously, chewed through agents like a kid at a gumball machine that keeps spitting out free gumballs. Pick them up chew a few times and spit them to the curb where they belong because they suck!!! These are the same agents that are angry, wish me miss fortune and are pissed that I am telling the truth to anyone bright enough to listen. Hey guess what guys F*** YOU, I am here to make sure that the 97% of real estate agents that do not belong in the game get gone.)
OK Kids on a lighter note, the reason I stress these things is most importantly for people to learn, but secondly to build and expand the team. Here is the way your home should be listed, so you can effectively sell it and continue to grow your business.
This is they right way to do it,
For anyone interested in expanding your investment business the right way contact me directly so I can show you the right way to do it.
We have 200 projects to do this year imagine if I was working with the normal selfish realtor that did nothing for the team, did not share profits and just pushed paperwork they would make $1,470,000!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
That is $1.4 Million out of your pocket, ask yourself did your agent earn that? If the answer is no then call me and do business the right way I can promise you that you will make money and love the work your agent does for you working with us!!
" No one changes Anything, without risking Everything"
Wednesday, October 21, 2009
I was asked what the magic trick was, or which bank I was paying off. I stated no just simple rules of engagement!
Investing in short sales / REO's after the big real estate bust is different.
There was a time not so long ago when the only factor required to make a profit in real estate was ownership; wait long enough and the price would go up magically.
There was little need to repair, renovate or even rent out the property. Just sit on it a few months and allow the market to drive up the cost until it was time to sell. Today, things are not so simple; it requires an entirely different mindset to invest in real estate after the bust but that doesn’t mean there are no profits to be made.
In fact, there might be more profits than EVER for those willing to keep pace with change and modify their investment strategy.
Here to help are new rules for investing in short sales / REO's after the big bust:
1. Know the Area and Audience. Take the time to understand the area, target audience and banks you will be working with. The more informed you are the better prepared you will be to take advantage of the best opportunities.
2. Follow the dumb-money. Unlike investing in the stock market where people constantly try to figure out where the smart money is going…short sale / REO investors should be on the trail of ‘dumb money’…those people that bought more than they could afford, failed to have a safety net or otherwise need out –now. You are their solution so search for the problem.
3. Don’t take it personally. While some media pundits make short sale / REO investors out to be greedy land barons (you should be so lucky!), the reality is those that dislike short sales / REO's are no more honest nor less self-interested than those that deal directly with foreclosures, by-owner listings or other types of investments.
4. Understand opportunity. There are times when “averages” don’t truly reflect the full value of short sales / REO's; remember, there are always bad deals made by ill-informed people including those new to short sale / REO investing. Unfortunately, it tends to drive down the full potential by hiding the outstanding profit potential realized by those that work deals right from start to finish.
5. Admit when you are wrong. Falling in love with a property happens – it shouldn’t but it does. Learn how to cut your losses and work this system like a business. If you don’t know enough – learn it. If you are making emotional decisions – get a mentor. Everyone has something to learn so face the facts…admit when you are wrong or in need of help then take action.
6. Don’t take advice from inferior agents or others without a proven track record! Book knowledge is one thing but results are entirely something else. Before taking advice from anyone – ask to see their real results….the ones with the dollar sign in front. Then ask to see how many times they were able to repeat the results. Remember, anyone can get lucky once in awhile but that doesn’t mean they have a system that really works. (NOT LIKE MINE!!!)
7. Portfolio’s matter especially when credit gets tight. Have a track record of success to show prospective lenders – it makes each consecutive deal even easier.
8. For the right price even inferior properties can be a good buy. Perhaps a house isn’t to your personal preference but it could be the perfect bachelor pad for someone that desires low cost and easy maintenance; whatever the specifics of the property may be – chances are it works for someone. Learn to ascertain the value of the property by price, cash flow and appreciation rather than personal preference.
9. Keep your eye on the big picture. Know why you are investing in short sales / REO's and then work the program.
10. Beware of hysterical analogies. Yes, the nation has problems but we’ve had problems before. Rather than take a hysterical outlook on life, learn how to become proactive instead. It refines the ability to invest, protect your financial future and form a strategy for tomorrow. Even if this nation were to confront a “lost decade” like that experienced by Japan…take a look at how real estate performed. While it didn’t go up (little did), it managed to hold its own…an impressive feat considering they have 100 year mortgages (intergenerational) in some part of Japan.
Sunday, October 11, 2009
Difference is GOD does for those that do for themselves, and for those around them.
You know what "I" do on Sundays, spend time with my family and real friends.
A day to relax a little, plan for the upcoming week and share real words of wisdom that will make everyone money.
Have you ever really read the bible?
It is here to teach and show people how they should act and what they should do....
Now if this was the case I should be able to walk into any church in America and everyone in there would give me what they give to the church to reinvest in the communities I am spending "MY" money in to give back to communities and provide true affordable top quality homes.
Bottom line is this "For those of you not smart enough to read between the lines":
The pastor drives a Cadillac
The church is worth over a Million dollars
Everyone around you is fake, conceded and will turn there back on you if you don't benefit them.
The pastor requests 10-30% of your earnings, just so GOD can grace you?
Jews are attending the same church (there Jewish they killed Jesus)
And all of you are standing, sitting or singing for what? What did you actually do?
Did you really give back to anything, or did you sip on your coffee (Starbucks, if this is on your GPS, your not part of my team, make your own coffee) and feel is if you did something...
All right kids here is the hard reality, if your not on the team then your gone.
It is a dog eat dog world.
Me and GOD have an agreement, I will do for others so I can continue to do for myself! (WOW AND GOD NEVER SHOWED UP AT MY DOOR ASKING FOR 20%)
Has anyone ever really asked themselves what GOD means?
I did and that is why it is on my business card "which none of you have ever recieved."
Definition: GOD (General Officer of Development)
Meaning: Provide for those around you, so that you may prosper yourself.
So church is over, if your are smart today, you will spend time with those around you that really are your family / friends / team and appreciate them for who they are and what you can give to them so they can give back to you at the end of the day.
I AM GOING TO MAKE SOME CHILI, AND THEN PRACTICE WHAT I PREACH!!!
:) OH HEY IF THAT INSPIRED YOU I DID MY JOB, NOW GET ENVOLVED AND LET'S GIVE BACK TO THE COMMUNITY!!!
Saturday, October 10, 2009
THIS IS WHAT WE ARE SELLING FOR $145,000 IN MN TODAY!!!
FORGET WHAT EVERYONE ELSE IS SELLING, THIS IS THE REAL DEAL, COMPLETELY NEW! EVERYTHING UPDATED (NEW)!!
THIS PROPERTY IS MOVE IN READY AND READY TO CLOSE ANYTIME YOU ARE READY!!
THIS IS A 3 BEDROOM 2 BATH HOME THAT HAS EVERYTHING YOU WOULD EVER WANT.
STAINLESS STEEL APPLIANCES, TILE EVERYWHERE, UPGRADED CARPET, UPSCALE LIGHT FIXTURES, FRONT LOAD HIGH EFFICIENCY WASHER / DRYER, CUSTOM CABINETS, CUSTOM TRIM, 6 PANEL DOORS, NEW SIDING AND WINDOWS AND LANDSCAPING!! *NOTE: EVEN A 4X5 FOOT TILED LUXURY SHOWER!!
CONTACT ME DIRECTLY FOR FULL PHOTO'S AND SHOWING APPOINTMENTS.
THIS IS THE MN LAUNCH AND WE HAVE FOUR (4) MORE BEHIND THIS THAT WILL BE READY IN THE NEXT 30 DAYS!!
Thursday, October 8, 2009
Updated True facts about the foreclosure Market, Someone might want to forward this to the local News Channel! They keep telling everybody it's better
According to the Center for Responsible Lending, a nonpartisan watchdog group based in Durham, North Carolina, there are more than 6,600 home foreclosure filings per day in the US, and with two million this year alone, the flood shows no signs of abating.
Foreclosures, which started with sub prime borrowers, have now moved on to the much bigger prime loan market on the back of mounting unemployment.
Michael Barr, the Treasury Department's assistant secretary for financial institutions, said in congressional testimony last month that more than 6 million families could face foreclosure over the next three years.
"The recent crisis in the housing sector has devastated families and communities across the country and is at the center of our financial crisis and economic downturn.”
*Note: This is why I am here!!!!!
A recent pickup in sales and home prices in some regions has been heralded as a sign that the crisis in residential real estate may be close to bottoming out, after the steepest price decline since at least 1890.
But nearly half of recent sales have been attributed to foreclosures or "short sales" at bargain-basement prices. The Center for Responsible Lending says foreclosures are on track to wipe out $502 billion in property values this year. (Are you in?)
See you at the top!!
I chuckled a little bit because this person brings no value to the table, nor is he there to help me or any of the countless people that I help. I told him to check my blog later for his answer.
AND HERE IT IS:
lYRICS BY JAY-Z (BUT MY THOUGHTS EXACTLY)
Can't be scared when it goes down
Got a problem, tell me now
Only thing that's on my mind
Is who's gonna run this town tonight...
...We gonna run this town
Life's a game but it's not fair
I break the rules so I don't care
So I keep doin' my own thing
Walkin' tall against the rain
Victory's within the mile
Almost there, don't give up now
Only thing that's on my mind
Is who's gonna run this town tonight
I AM GOING TO RUN THIS TOWN!!
YOU ASKED AND THERE IS YOUR ANSWER.
For those on the team see you at the top!
Friday, October 2, 2009
GSE REO Portfolio Near 100,000
According to 10-Q filings with the Securities and Exchange Commission (SEC), Freddie Mac’s portfolio is nearly 35,000 properties, while Fannie Mae’s is closing in on double that figure at nearly 64,000. Fannie’s REO portfolio nearly doubled from the first half of 2008 compared to H109. Fannie held 33,729 properties during H108. The number of properties increased in all regions of the US except the "Midwest, which experienced a decrease from 15,265 to 14,626 properties", but the rate of growth in the two portfolios has declined. Freddie acknowledges it expects to experience further losses from REO properties: “While temporary suspensions of foreclosure transfers and recent loan modification efforts reduced the rate of growth in our charge-offs and REO acquisitions during the second quarter of 2009, our provision for credit losses includes expected losses on those foreclosures currently suspended,” the Freddie filing said. Freddie said its pool of Alt-A interest-only loans, as well as 2006 and 2007 vintage loans comprise the biggest share of its portfolio and “continue to be larger contributors to our worsening credit statistics than other, more traditional loan groups,” because of factors like declining home prices.
Freddie’s REO properties are concentrated in the West region of the country, and homes there comprised 27% of the unpaid principal balances of Freddie’s single-family mortgage portfolio as of June 30, 2009, but accounted for 46% of its REO acquisitions in the first half of 2009.
Saturday, September 26, 2009
My office has been SLAMMED with phone calls from
People wanting in on the big launch. So to bring
you up to speed, here's a quick summary of what I bring to the game:
--> SELLING /EXIT STRATEGY ISSUES: If you're having trouble reselling
REOs IN 60 days or less, we have SOLVED this
problem for you!
--> "A-B-C" LENDERS LOVE YOU: If you've been frustrated with
some "A-B-C" buyer's lenders needing more time to properly
document the transaction, and therefore causing you to go
beyond 60 days, we have SOLVED this problem for you!
--> NO RISK: If you're nervous about getting tied into loan
agreements with hard money lenders, we have SOLVED this
problem for you!
--> NO CAPITAL: If you have no capital to put down to hold
a property until you resell it, we have SOLVED this problem
for you! JUST NEED TO COVER THE EARNEST MONEY AVERAGE $2000 PER HOME
Pretty amazing, isn't it? (YOU’RE DAMN RIGHT) That's why this will be the
single biggest announcement EVER to hit the real estate
industry this year “AND YEARS TO COME”. My phone has been blowing up
With all the real estate gurus wanting details. Sorry, “YOU’RE A GURU, SO YOU DON’T NEED MY HELP, GO SELL A CD OR INFOMERCIAL…OH ARE BETTER YET STOP ASKING HOW IT IS DONE AND ACTUALLY BUY A HOUSE INSTEAD OF SELLING MY INFO TO OTHERS”
Tuesday, September 22, 2009
Once upon a time, there lived a red-blooded American who was taught to study, work hard and save money in order to succeed. Assured that health, wealth and happiness would soon follow he set out to earn his way in the world with a blushing bride and bouncing baby by his side.
On the path to progress he found it increasingly more difficult to accommodate the ever changing workforce but thanks to modern machinery, his blushing bride was able to join him in the work force while leaving the baby with relatives. Their combined income was sufficient to take an annual vacation, send junior to summer camp and still have enough remaining for a few luxuries now and then.
But alas, all was not well in the land of the red, white and blue. Each year taxes took more of the combined household income while the cost of living continued to rise. The “tax free” date moved from March to April and eventually to the end of May before the average American began to earn money that would not go toward paying taxes. The husband and wife worked harder than ever as they were forced to become more productive and do the job that used to take two or even three workers. Left to his own, Junior skipped school, didn’t do his homework and routinely got into trouble. The once happy household was left tired, tense and terrified of their financial future….but why? Simple. They failed to understand the changes taking place in the world around them.
Find out if you are living a financial fairy tale or truly understand the economic reality surrounding you and your family with these simple questions:
1. Do you have more than one source of income that is not based upon working for a living?
2. Are you financially dependent upon two or more people in the household earning an income in order to pay your basic bills and set aside funds for investing?
3. Do you regularly sit down and calculate the tax consequences of working over-time, accepting a promotion or other “wage increase”.
4. Are you properly positioned for defensive economic earnings should the government increase taxation or withholding on benefits like health insurance, 401k or other long term investments?
5. Do you regularly calculate the cost of inflation five, ten and even twenty years into the future when establishing your savings and investment goals?
6. Are you hedged against liability, lawsuits and the threat of loss for both your personal and private investments?
7. Do you understand the “need for speed” when it comes to investing in tough times? Remember, the time value of money changes...make sure your investment methodology does too.
Short sales can help you achieve financial self-sufficiency without working yourself into an early grave. It’s one of the last remaining avenues available to average Americans searching for sensible investments in uncertain times.
Monday, September 21, 2009
Features: 3 Bedroom / 2 Bath, 1400 Square feet. All new throughout, with upgraded Cabinets, High End Carpet, Tile accents in both Kitchen and Bathroom. Stainless Steel Appliances, high effeciency Washer and Dryer, the works. This home will cashflow from the beginning, 100% Financing available.
This will sell in less than a week so intrested buyers need to have there offers in today!!
Ticking away the moments that make up a dull day
You fritter and waste the hours in an off-hand way
Kicking around on a piece of ground in your home town
Waiting for someone or something to show you the way
Tired of lying in the sunshine staying home to watch the rain
You are young and life is long and there is time to kill today
And then one day you find ten years have got behind you
No one told you when to run, you missed the starting gun
And you run and you run to catch up with the sun, but its sinking
And racing around to come up behind you again
The sun is the same in the relative way, but you’re older
Shorter of breath and one day closer to death
Stop & Ask…Are You More Wealthy Today than Yesterday? What about a year ago? Do you have more time and money? How are you really doing in this race we call life?
According to a Census report released a few weeks ago, most Americans are not better off than they were a few years ago…in fact, the median family income fell by over $2,000 annually.
What’s even worse, this news reflects census data from 2007 – the most recent data the government has compiled. Stop and allow this to sink in a bit; median household income actually fell by $2,000 during a relatively steady and prosperous economic era. Once you factor in inflation, the number was even worse…bringing the typical family down to pre-1998 levels. Just imagine what is taking place after the recent rise in unemployment, downsizing and other cut-backs.
Here are a few relevant facts every short sale investor should keep in mind:
U.S. GDP shrank well over 2% while unemployment races toward double-digits.
The median household income – not adjusted for inflation – fell to $50,300 in 2007 and is expected to drop substantially more once data for the current economic downturn becomes fully available.
Over 13% of Americans lived in poverty by 2008...a point higher than during 2007 and expected to climb substantially during 2009. For those fortunate souls that don’t know what the official poverty level is...hold on to your hat; it’s a mere $22,025 per year for a family of four! Yes, you read that right…for a family of four persons.
Should you fall on tough times, what type of help can you expect to receive from your good old Uncle Sam? Maybe $400 in unemployment benefits for a few months but even those will be reduced by any amount you make by working. Ditto goes for food or other forms of assistance assuming you can even qualify. The simple truth of the matter is that many people fail to “qualify” for any form of assistance even during a desperate downturn in their own personal financial situation.
On the other hand, my real estate investors never need to worry about a government sponsored safety net or jumping hoops trying to get by on meager subsidy payments because they have created their own source of income via real estate. Whether buying to hold for the long term or flipping for a fast profit, my investment projects have generated substantial income potential far above and beyond that of the typical American family. Case in point, the average rent for a 3 bedroom home is $820 per month or $9820 per year. Just five paid in full properties could generate nearly enough rental income to equal the median household income exclusive of price appreciation. Better yet, that same income does not require getting up five days a week to spend most of your time in a cubicle or other 9 to 5 grind plus provides distinct tax advantages.
Take stock of how you are spending your time…it is productive and leading to the creation of real wealth that allows you sufficient time and income to enjoy life or are you merely getting by while growing older, broke and one day closer to death?
Why wait any longer when you have finally found the source of inspiration and information capable of showing you a new and better way? Try it and see for yourself or fall in line behind the rest of the crowd seeking solace from their own quiet desperation.
Sunday, September 20, 2009
It's too early to know if this pattern will continue under the Obama administration's $75 billion initiative to get lenders to reduce monthly payments for homeowners struggling to make their mortgages.
A total of 360,165 mortgage modifications are now in a three-month trial period under the government's plan announced in March. But the initiative focuses on reducing interest rates rather than cutting principal. "Payments have [either] gone up [or] the payment relief can last for the first few years and then go up (again)," says Alan White, assistant professor of law at the Valparaiso University School of Law in Valparaiso, Ind.
FDIC details mortgage payment reductions
Yesterday I mentioned an “urging” by the Federal Deposit Insurance Corporation (FDIC) directed at its loss-share partner institutions to consider temporary mortgage payment reductions for unemployed borrowers. A spokesman for the FDIC offered further clarification: “Servicers may provide the borrower with at least six months of payment relief…The term [of] forbearance may vary based on the borrower’s circumstance.” The program reaches out to both the unemployed and the underemployed, and applies to borrowers who suffer a reduction in household income due to decreased hours, loss of job, or a qualifying pay cut. Acquirers of failed insured institutions who agree to a loss-share arrangement must abide by the FDIC Mortgage Loan Modification program for any assets purchased from the failed bank.
The program provides loan modifications by reducing the borrower’s monthly housing debt to income ration (DTI ratio) to no more than 31%. “The FDIC has a loss share monitoring program responsible for surveillance and compliance monitoring of the assets covered in the shared-loss agreement,” the spokesperson said. “In this oversight capacity the FDIC will review loss share servicers forbearance policies and ensure compliance with the shared-loss agreement.”
GAO looks at alternatives to Fannie Mae and Freddie Mac
The Government Accountability Office (GAO) is scrutinizing some of the proposed alternatives to Fannie Mae and Freddie Mac, now both in conservatorship. The alternatives include reconstituting the GSEs as for-profit corporations with government sponsorship and additional restrictions. According to the GAO, this option would effectively add controls to minimize risk in the system; eliminate or reduce the GSEs’ mortgage portfolios; establish executive compensation limits; and completely convert the GSEs from shareholder-owned corporations to lender-owned firms.
This model is not entirely without risk, however, as investors might be unwilling to invest capital in reconstituted enterprises unless the Treasury Department assumed responsibility for losses incurred during their conservatorship, GAO said. “Continuing the enterprises as GSEs could present significant safety and soundness concerns as well as systemic risks to the financial system,” GAO said in the report. “In particular, the potential that the enterprises would enjoy explicit federal guarantees of their financial obligations, rather than the implied guarantees of the past, might serve as incentives for them to engage in risky business practices to meet profitability objectives.”
For Those of You That Can Afford Your House, Here Is How I will Help.
Everything Handled By Attorney’s
New Federal Program Guidelines for
Home owners are allowed to modify their home loans only once.
With Federal Subsidies the mortgage payment may not exceed 31% of household income.
Interest rates maybe as low as 5%.
Length of loan term may be extended to 40 years.
Loan must have been made before January 2, 2007.
New Federal Program will end December 2012.
Federal Government will provide an incentive for making your mortgage payments on time.
** Information obtained from the Untied States Treasury Department.
Take a few minutes. Give us a call. We will analyze your case and pre-qualify you for a loan modification free of charge.
As low as $ 2500
Modified mortgages still defaulting
" No one changes Anything, without risking Everything"
Saturday, September 19, 2009
But the 3 biggest whoppers keep coming back, over and over again.
#1: The recession is over. (Ha,Ha,Ha)
Right. We believe the media about as much as we do the politicians. It isn't over with unemployment numbers still piling up, new bodies on the heap every week. And foreclosures still hitting record highs (no, "slowing slightly" doesn't count - they're still growing every day!).
#2: The stock market's recovering. (If that is what they call recovering, I am sure glad I don't buy Stock)
If so, it's the worst "recovery" in history. Stock markets in China and Europe are delivering up to SIX DOLLARS IN PROFIT for every ONE ours is!
Why? Our economy still has tons of bad subprime loans, thanks for all the greedy politicians and bankers.
Other economies may be saddled with dunderhead politicos too, but not subprime defaults. Our stock market is limping along like an anemic bum in the gutter, looking for bottles to turn in for change.
#3: Foreclosures are down. (if your an idiot that buys this, get off my Blog now!)
What a spin-job that was! We simply threw a few less houses on the bonfire this month than last. Does that mean there are less? No!
In fact, if you compare it with the same month of the previous year( check realtytrac), when the economy was crashing big-time, the rate is UP 18% this year!
If you search out media stories in the Great Depression,they also constantly broad casted "recovery is just around the corner."
For 8 miserable years.
Look, you can actually make a ton of cash in these bad times and the worse ones to come. Truth is, there are more millionaires made in recessions than any other times. The main reason being, when things fall apart, there are smart people (like me, our my partners) positioned to pick them up...
Thursday, August 13, 2009
At a closing Yesterday I was asked what difference a few years will make? From a real estate professional !!! I laughed myself out of the chair....
For those that are young enough not to clearly remember the early 70's (I wasn't born untill 1974) a quick trip down memory lane can serve an important purpose...it demonstrates what a difference a few years can make and why it is important to find passive sources of income early in life.
Bill Downey, an expert in commodities, recently published a quick spotlight that focused on prices as of August 15, 1971...just a few days short of 29 years from today.
Average cost of a new house was $25,250 versus $190,000 today (from a high of over $260,000 just two years ago). If you had purchased ten average priced BRAND NEW homes (with a mortgage payment of less than $275 each!), rented them out and allowed the mortgage to cover the expenses, today you would hold nearly $2 million dollars of real estate free and clear...and still be able to collect rents for as long as desired!
Average annual income was $10,600 versus $38,000 today. Notice, earning power has not kept pace with inflation. In fact, experts agree the average worker has lost purchasing power each and every year for nearly 30 years.
Average monthly rent $150 versus $820 today. Of course, rents for brand new homes would have been higher but imagine, even with a "high" mortgage of $275 for each house, you would still generate more monthly income from ten houses than the average employee working full-time...before paying off the mortgages!
Those of you who are older, take just a few minutes to imagine how different your life would be today if you had purchased a few average little homes 29 years ago. If you don't have at least 2 million dollars sitting safely in a retirement account while continuing to generate a monthly income, ask yourself why? On the other hand, those of you who are young should consider this...the United States entered a period of high inflation and rapidly escalating prices in the late 70's and early 80's yet it dwarfs the amount of spending taking place in the past six months of the current economic decline.
Money creation expands the supply of money and eventually leads to inflationary pressures - to date, that has been adjusted and dealt with but experts agree, the amount of new money creation currently in existence is unlike any in the history of the United States. If you make one investment in life then simply allow it to pay for itself, it could easily create a retirement income or source of revenue for you and your children well into the future....even as unemployment and actual wages shrink.
Anyone that had the foresight to invest in real estate during the early 70's would enjoy an additional $5,000 to $6,000 per month while having access to nearly $2 million dollars in their real estate portfolio. Instead, most Americans trusted their hard earned dollars to 401k accounts, savings bonds and other "trusted" sources that have left them high and dry when they needed it most. Here is a simple recipe for success...buy now, allow it to pay for itself and forget you even own it then reap the rewards in your old age. It's a time tested method that has led millions of average Americans just like you down the road to wealth. Consider this...the federal deficit is an estimated 2 Trillion for this year alone...with trillion dollar deficits projected for the next decade!
See you at the top!
Wednesday, August 5, 2009
The real deal on Bank owned Homes, REAL NUMBERS FOR REAL THOUGHTS!! Can anyone say SHADOW Inventory?
I see things for what they are and if someone asks me why I will explain to them WHY! There are tremendous amounts of bank owned homes saturating the market in eveyones neighborhood, I do not care what state you are in.
It is simple economics and psychology, if the general public really knew the numbers and the media told the truth, people would panic.
So instead of my own thoughts I have compiled a few brief statements from chief economist at Wells Fargo Securities, Zillow and Deutch Bank. Please read below
Housing inventory drops in July from a month earlier! Wow the market is recovering (Ha hahahahahah)
According to data compiled by ZipRealty, inventory of homes -- single-family homes, condominiums and town houses listed on local multiple-listing services -- in 28 major metropolitan areas dropped 2.5% in July from a month earlier. The inventory in July dropped 27% year-over-year.
The figures compiled by ZipRealty may not present the exact level of supply since half of foreclosed homes are not included on multiple-listing services at any given time on account of such homes awaiting repairs or being subject to litigation. Analysts say that the housing market is showing signs of stabilization, but a large supply of unsold homes could hit market recovery.
"The number of homes listed officially on the market, while still at historically high levels, might be only the tip of the iceberg," said Stan Humphries, chief economist at Zillow.com.
Adam York, economist at Wells Fargo Securities, says that the number of homes that have not been listed for sale could be around 5 million. "That is still an extremely high number," said York. "Supply is and will continue to be one of the main obstacles to a housing market recovery in the year ahead."
Torsten Slok, senior economist at Deutsche Bank, says that foreclosures are creating a "shadow" inventory and "had it not been for foreclosures then the housing market would probably have recovered."
Thursday, July 30, 2009
Let's face it, if you are like most people you spend more than your fair share of time online surfing the Internet or otherwise Tweeting away time. Chances are, you may have missed out on some of the coolest Google gadgets that make great tools for real estate. Spend some time exploring then get ready to save these sites to your favorite lists:
1. Google Maps. Stop driving all over town to see the neighborhood of a potential property. Instead, simply type in the zip code then zoom down to the "street view". Not only can you see the property as well as those of the neighbors, but you can actually take a virtual walk down each road and around the block! Try it at http://maps.google.com/maps?hl=en&tab=wl.
2. My Maps. Create your own customized maps with full GPS navigation/directions that can be sent and received via cell phone. It's the perfect companion to showing homes! http://www.android.com/market/free.html#app=mymapseditor.
3. Google Trends. See what people are searching for then track it over time. Isolate by region or even city then use as a leading indicator for interest in real estate or short sales. Just type in "real estate" or "short sales" to see for yourself how well this little gem works! http://www.google.com/trends?q=short+sales&ctab=0&geo=all&date=all&sort=0.
4. SketchUp. Create, modify and share 3 dimensional models of homes, repairs or even modifications to real estate with Google SketchUp available at http://sketchup.google.com/.
5. Picasa. If you haven't used Google's super simple photo editor and storage service it's time to give it a try. Password protect those areas you want or allow anyone to view pictures of homes and other real estate related investments. Simple and free. http://picasa.google.com/
6. Google Mobile. Get your email, maps, photographs, GPS info, favorite blog or new content plus much more with Google Mobile. http://www.google.com/mobile/#utm_source=us-et-more&utm_medium=et&utm_campaign=mobile.
7. Google Voice. Stop giving out your real phone number - instead, protect your privacy and security with a virtual phone number that reroutes to your phone or other line. Thanks to Google Voice, it's now possible. Currently in Beta, Google Voice is available by invitation only but if you apply, it typically takes approximately 5 to 10 days to receive an invitation. Best of all, number portability plus all the other bells and whistles are included for free!
8. City Tours. Show out of town prospects all the sites from the comfort of their own homes thanks to City Tours. Identify points of interest and plan trips for most major cities. http://citytours.googlelabs.com/
See you at the top!