Friday Coffee Break» Industry Changes http://fridaycoffeebreak.com Weekly Preforeclosure Updates from Patrick Precourt Thu, 02 Sep 2010 21:33:54 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 Are you Fat, Big Boned or just Over Indulged? http://fridaycoffeebreak.com/2010/08/are-you-fat-big-boned-or-just-over-indulged/ http://fridaycoffeebreak.com/2010/08/are-you-fat-big-boned-or-just-over-indulged/#comments Fri, 20 Aug 2010 15:11:21 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=632 I don’t know if it is me, but do you get the feeling that the majority of Americans feel they are entitled to anything they want without working for it? Listen in to today’s Friday Coffee Break as I breakdown this hot topic. We also discuss whether or not there is a law in Florida requiring a real estate investor to hold a property for over 30 days before flipping it, whether or not a same day flip is legal. We also discuss the truth about what a Wells Fargo short sale acceptance letter is requiring you to do, whether Wells Fargo and ASC (a Wells Fargo Company) have the same requirements on their short sale approval letters and much more. Visit www.fridaycoffeebreak.com for more real estate videos from Patrick Precourt and North Shore Enterprises!

Take a 14 day test drive of the easiest, most comprehensive real estate management platform available! Visitwww.PropTrackr.com for more info.

]]> http://fridaycoffeebreak.com/2010/08/are-you-fat-big-boned-or-just-over-indulged/feed/ 3 How A Seasoned Investor CAN Get Out Of A Steady Funk http://fridaycoffeebreak.com/2010/08/how-a-seasoned-investor-can-get-out-of-a-steady-funk/ http://fridaycoffeebreak.com/2010/08/how-a-seasoned-investor-can-get-out-of-a-steady-funk/#comments Thu, 05 Aug 2010 22:01:25 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=613 Being in real estate investing for the past 12 years, I understand how it feels to get stuck in what seems to be the deepest pile of “quick-sand” there is; the grind, the challenges, the successes and the failures! Listen in as I go over how to overcome being in a steady “funk” and the best strategy to use when faced with this sometimes overwhelming feeling. Also, listen in as we cover whether or not we can get every lender to issue a 100% forgiveness of debt on every one of our short sale properties, whether or not it is common for MI (Mortgage Insurance) companies to disallow a contract because the buyer is an LLC, the best way to fund all of your deals, whether or not lenders are actually selling “notes” on defaulted properties, and more. Visit www.fridaycoffeebreak.com for more real estate videos from Patrick Precourt and North Shore Enterprises!

Take a 14 day test drive of the easiest, most comprehensive real estate management platform available! Visit www.PropTrackr.com for more info.

]]> http://fridaycoffeebreak.com/2010/08/how-a-seasoned-investor-can-get-out-of-a-steady-funk/feed/ 2 Do Foreclosing Lenders Cross the Line by Black-balling Investor Buyers? http://fridaycoffeebreak.com/2010/07/do-foreclosing-lenders-cross-the-line-by-black-balling-investor-buyers/ http://fridaycoffeebreak.com/2010/07/do-foreclosing-lenders-cross-the-line-by-black-balling-investor-buyers/#comments Thu, 15 Jul 2010 21:33:00 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=601 In today’s real estate environment Lenders are doing more and more due diligence and scrutinizing the majority of short sale deals to try to save money. Listen in as we discuss what you should NOT do in order to stay off their BLACK BALL List! On this week’s Friday Coffee Break we also cover where the future of the short sale business is going, where to find out if you need a license to negotiate short sales in your state, how and where to escalate and FHA file, the best way to handle Auctions and whether or not they are an effective way to purchase properties and more. Visit www.fridaycoffeebreak.com for more real estate videos from Patrick Precourt and North Shore Enterprises!


Take a 14 day test drive of the easiest, most comprehensive real estate management platform available! Visit www.PropTrackr.com for more info.

]]> http://fridaycoffeebreak.com/2010/07/do-foreclosing-lenders-cross-the-line-by-black-balling-investor-buyers/feed/ 0 Must Read! Don’t Ever Forget Why We Are the Best Country in the World and Why You’re Are Still Free! http://fridaycoffeebreak.com/2010/07/must-read-dont-ever-forget-why-we-are-the-best-country-in-the-world-and-why-youre-are-still-free/ http://fridaycoffeebreak.com/2010/07/must-read-dont-ever-forget-why-we-are-the-best-country-in-the-world-and-why-youre-are-still-free/#comments Thu, 01 Jul 2010 20:59:12 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=582 The 4th of July weekend is one of the most important weekends we have for the entire year and I do not want anybody to forget what our troops do for us and give us on a daily basis! They give us Freedom! Freedom to invest in real estate, Freedom to spend time with our families without getting harmed, Freedom to do anything we desire! So with that being said, enjoy the holiday weekend and support our troops! On this week’s Friday Coffee Break we dive into how the fact that, whether you are aware or it or not, our short sale business has drastically changed in the last two years. Banks used to take huge discounts just by picking up the phone and asking! Now they battle for each and every penny. What does that mean for me and you? Simple. Change your business model just like we did so you can now profit off of every real estate lead that comes across your desk! Listen in as I go over how we adapted our real estate business to fit the current changes and how you to need to follow suit or you will be out of business! Also listen in as I cover how long BPO’s are good for when working a short sale deal, whether or not HOA fees can be negotiated on a short sale transaction, where any new investor should start their real estate investing career, whether or not you should submit back up offers to a foreclosing lender, whether a buyer should lose their deposit on a bank owned property if there is an easement issue, whether a Bank of America Loan Officer is any better of a short sale negotiator than you or I, and much much more. Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

Get a 14 day free trial to the easiest real estate management platform available!


]]> http://fridaycoffeebreak.com/2010/07/must-read-dont-ever-forget-why-we-are-the-best-country-in-the-world-and-why-youre-are-still-free/feed/ 5 Beware Of The “Hawkers!” Research Your GURU Before You Invest In Their Education http://fridaycoffeebreak.com/2010/06/beware-of-the-hawkers-research-your-guru-before-you-invest-in-their-education/ http://fridaycoffeebreak.com/2010/06/beware-of-the-hawkers-research-your-guru-before-you-invest-in-their-education/#comments Thu, 10 Jun 2010 21:38:24 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=563 I get comments, on a daily basis, about new real estate investors being so confused on who they should be listening to; reason being is that every so-called “Expert” seems to be touting the next “cutting edge” idea that will CHANGE the real estate industry. I will tell you what, it’s all a bunch of crap!  Listen in as I tell you what to look for and what to do before you invest one red cent into an “online educator.” Also listen in to find out if short sale investing is a great place to start your real estate investing career, where to find out how to get HUD-1 settlement statement training, why you should be wary of who funds your short sale transactions, how to assign a short sale contract and get paid,  whether or not you have to be behind on your mortgage to qualify for a loan modification and more.

Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt and North Shore Enterprises.

Take a 14 day trial to PropTrackr — the newest, most cutting edge real estate management platform designed by North Shore Enterprises!

]]> http://fridaycoffeebreak.com/2010/06/beware-of-the-hawkers-research-your-guru-before-you-invest-in-their-education/feed/ 1 Can I Operate A Real Estate Business Without A License? http://fridaycoffeebreak.com/2010/05/can-i-operate-a-real-estate-business-without-a-license/ http://fridaycoffeebreak.com/2010/05/can-i-operate-a-real-estate-business-without-a-license/#comments Thu, 13 May 2010 23:32:32 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=535 The HAFA Program, the S.A.F.E. Act, the “Debt Negotiation licenses and so many more it is getting harder to keep track of whether or not I can even invest in real estate! Listen in as we dig into whether or not investors need to have some sort of license to have a real estate business to play in today’s real estate investing world! As listen in as we cover whether or not you can negotiate the verbiage on a short sale approval letter when they state “we reserve the right to pursue a deficiency judgment for our loss” or if it is standard for all approval letters, whether or not California Short Sale Laws are different from other states, whether a buyer can finance a Loss Mitigation Fee on their side of the HUD or if they have to give us cash in order to pay us for our service, whether or not you should list all your short sale properties on the MLS before you submit your first short sale offer and much more. Visit www.FridayCoffeeBreak.com for more real estate videos from Pat Precourt.

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]]> http://fridaycoffeebreak.com/2010/05/can-i-operate-a-real-estate-business-without-a-license/feed/ 0 The Latest “Unknown” Government Short Sale Changes! Will the new HAFA Program Work or Not? http://fridaycoffeebreak.com/2010/05/the-latest-unknown-government-short-sale-changes-will-the-new-hafa-program-work-or-not/ http://fridaycoffeebreak.com/2010/05/the-latest-unknown-government-short-sale-changes-will-the-new-hafa-program-work-or-not/#comments Fri, 07 May 2010 03:22:20 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=527 On this week’s Friday Coffee Break we dig into two of the latest and greatest government changes in their infamous HAFA Short Sale Program.  You won’t believe what they added this time that will make your sellers pretty mad! We also cover our upcoming Equator.com webinar, our upcoming PropTrackr.com webinar, whether or not a HELOC (Home Equity Line of Credit) that gets charged off will qualify for the HAFA Program, whether or not you can collect a loss mitigation fee on top of a real estate agent commission, the best way to turn a potential wholesale short sale flip into profit when you are dealing with a lender who has a 30 day no resale clause and you have no money, and much more.  Visit www.FridayCoffeeBreak.com for more real estate specific videos and check out www.PropTrackr.com for the industry’s best online Real Estate Management Tool — developed by North Shore Enterprises!

]]> http://fridaycoffeebreak.com/2010/05/the-latest-unknown-government-short-sale-changes-will-the-new-hafa-program-work-or-not/feed/ 5 With the “Updated” FDIC Loss Share Agreements: What’s the Future for Short Sales? http://fridaycoffeebreak.com/2010/02/with-the-updated-fdic-loss-share-agreements-whats-the-future-for-short-sales/ http://fridaycoffeebreak.com/2010/02/with-the-updated-fdic-loss-share-agreements-whats-the-future-for-short-sales/#comments Fri, 26 Feb 2010 00:12:30 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=488 Lately, we have been getting bombarded with questions about the FDIC Loss Share Agreements and whether or not this will crush the short sale world as we know it. I will tell you this; it will affect our short sale businesses. How much you may ask? Well listen in and I will tackle that “hot” issue! On this week’s Friday Coffee Break, we also cover whether or not using a Power of Attorney over an Authorization to Release information is better, whether the use of an Option Contract creates more confusion then it does good for investors, my read on the “new” FHA suspension of the 90 day seasoning guideline and how it will pan out in reference to our flip transactions and much much more. Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt and www.ManageMyShortSale.com to learn more about the Short Sale Management tool used by hundreds of other Preforeclosure Specialists!

]]> http://fridaycoffeebreak.com/2010/02/with-the-updated-fdic-loss-share-agreements-whats-the-future-for-short-sales/feed/ 1 What the “HAFA” is This New Government Short Sale Program All About? http://fridaycoffeebreak.com/2010/02/what-the-hafa-is-this-new-government-short-sale-program-all-about/ http://fridaycoffeebreak.com/2010/02/what-the-hafa-is-this-new-government-short-sale-program-all-about/#comments Sat, 20 Feb 2010 02:38:13 +0000 Patrick Precourt http://fridaycoffeebreak.com/?p=481 Will the sweeping changes coming in April 2010 regarding the HAFA short sale program affect your real estate business? It might! Make sure you listen in as I uncover what the program is, how it will affect what you do today and the real truth behind it.  We also cover how you overcome the objection by realtors regarding deficiency judgments for a NON-primary residence,  how the government wants to take away one of our exit strategies and how we sell our properties, how to correctly implement your online presence, and much more.  Visit www.FridayCoffeeBreak.com for more real estate videos from North Shore Enterprises.  You might also want to check out the Short Sale Bootcamp coming up in March down in Orlando, FL by visiting www.ShortSaleBootcamp2010.com.


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