Currently Browsing: Investment
The Real “Facts” About End Buyers Lenders and the 90 Day Seasoning Requirements!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateOct 22nd, 2009 | 2 responses
We have been getting bombarded lately with questions about which end buyers lenders will write a loan without a 90 day seasoning requirement! Listen in as we go over the facts and the fiction of this “hot” topic. Also listen in as we go over how Obama’s new national short sale program will or will not affect the BPO or valuation process, whether or not a license will be required in each state in order to do loss mitigation work, whether or not you can get a business line of credit when you have bad credit and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for...
Funding for Back to Back Closes – Don’t Believe all the Hype on the Internet!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateOct 15th, 2009 | 9 responses
Before you jump into the latest “Guru selling a REO or short sale funding program” do your research because it might not be all it is cracked up to be! Listen in as I talk about the “new” back to back funding that is the entire buzz on the internet and what to watch out for in the coming weeks. I also cover which loans the $1500 short sale credit that sellers are going to get from the government will cover, what’s the best approach to discounting a mixed-use commercial property, whether or not the option contract legal, If there is a way to do a short sale when a pre-foreclosure property...
Another Title Company is Shutting the Door on Double Closings! Go Figure!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateOct 8th, 2009 | 6 responses
As I have been saying for the last year, this industry is changing so you better stay connected! Another Title Company is now closing their doors to same day closings… Listen in as I tell you who it is. I also cover whether or not banks will be forced to pay a loss mitigation fee to licensed debt negotiators, whether or not more lenders are taking the “I don’t care approach” to allowing seller concessions on short sales and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos.
The Latest State that is Requiring a License to Do Loss Mitigation Work
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateOct 1st, 2009 | no responses
There are many states, including ours, that are now requiring that investors and real estate agents be licensed in order to do loss mitigation work! Listen in as I tell you what our company is doing to overcome this and also what you should do! I also cover what to look for before you consider buying a short sale property, why short sales should be looked as a strategic acquisition strategy and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos.
Aren’t You Sick of “Internet Guru’s” Telling Us Investors Why WE FAIL?
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateSep 24th, 2009 | 4 responses
I don’t know about you, but I am going to get sick to my stomach if I hear another “Internet Guru” tell me why investors fail! Listen in as I give my opinion to this and you won’t believe what it is! I also cover some great questions from you Coffee Breakers. Listen in as I go over whether or not you should walk away from a short sale deal if your short sale gets accepted but you can’t find an end buyer, the best way to get around FHA’s 90 day seasoning requirements, and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos...
FHA and VA : Do I Need An Offer To Get A Short Sale Approved?
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateSep 18th, 2009 | one response
FHA has revamped the way they discount and has caused some confusion in the industry! Listen in as I go over how they have a sliding discount scale and what those discounts are. This video also covers how I did on my first Mixed Martial Arts Fight, where to get an option contract that allows everyone to market a home , negotiate with the lender then sell to an end buyer for a profit (if there is any), the truth about the benefits of a back to back closing versus a Monday to Monday close and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific...
Transactional Funding is a Glorified Simultaneous Closing!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateSep 10th, 2009 | 4 responses
Many people hear that transactional funding is the answer to our flipping challenges! However listen in as I tell you what type of funding you will need to close your transactions now and in the near future. I also cover what a newbie should focus on when getting deals, whether a seller SHOULD or SHOULD NOT sign a promissory note from a foreclosing lender, how to get paid and who to get paid by when you can’t make a big wholesale spread and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos.
Should a Homeowner Sign a Promissory Note or Let Their Property Go to Foreclosure?
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateSep 3rd, 2009 | 4 responses
Letting a property go into foreclosure versus having a client sign a promissory note has always been a hot topic. Listen in as I go over why you have to be careful listening to the advice of some real estate so-called professionals who have it all wrong! This videos also covers the new FHA discount guidelines, what line item to put seller concessions on your HUD1 Settlement Statement, why some portfolio lenders are sitting on REO’s and much more. www.FridayCoffeeBreak.com. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos and articles.
How to Renegotiate with a Seller When You Already Paid Them a $7K Option Fee!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateAug 27th, 2009 | one response
Negotiating is one of the most important keys to the real estate investing world. Listen in as to how you can renegotiate a contract which you already put a $7K Option fee on. This video also covers the best way to get paid when a lender puts in seasoning requirement at the last second, whether recording a memorandum to a contract avoids seasoning issues, whether or not it is kosher for a real estate agent to submit a “bogus” contract to get the short sale process started and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos and...
Disclosure is Key When You are Both a Real Estate Agent and a Short Sale Buyer!
Posted by Patrick Precourt in Investment, Preforeclosure, Real EstateAug 21st, 2009 | 6 responses
Liability is always going to be an issue in real estate investing when you are wearing the hat of an investor and the hat of a real estate agent! Listen in as to whether or not you are liable for damages (by the seller) if you have negotiated a short sale and the short sale does not work. This video also covers how to re-list and re-sell a property without taking title to a property, how to get additional funds to a 2nd lien holder if you are making a spread as an investor, a full discussion on the advantages and disadvantages of using a Land Trust today and much more. Visit www.FridayCoffeeBreak.com...
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