Currently Browsing: Preforeclosure
Wearing More Than One Hat When Negotiating a Short Sale is OK – Just Cover Your A$$!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateJan 21st, 2010 | 7 responses
On this week’s Friday Coffee Break we cover some awesome questions from you Coffee Breakers! We go over what hats you can wear when you are making money negotiating short sales, whether or not using land contracts (not trusts) are a problem when completing a back to back closing, whether you actually need to leave “consideration” with a seller on an over debted property in foreclosure when getting them under contract, some of the latest tips on the new FHA guidelines and them waving the 90 days seasoning on our short sale flips, and much much more. Visit www.FridayCoffeeBreak.com for more...
The Biggest Advantage to Having Your Own Loss Mitigation Company
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateJan 14th, 2010 | 2 responses
On this week’s Friday Coffee Break we cover one of the biggest questions that any real estate short sale investor has when deciding how to set up their business. Questions like: Do I set up a separate loss mitigation company to negotiate with lenders and Do I put my short sale offer into the lender with my personal name on it, etc, etc. Listen in as we also cover, what Freddie Mac’s short sale timelines are in non-judicial states, what to do with rents when the seller is in foreclosure so you don’t commit fraud, why managing seller expectations is our responsibility and much, much more!...
What Short Sale Disclosures You Should Put On Your Purchase and Sales Agreements to Satisfy Everyone!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateJan 7th, 2010 | no responses
On this week’s Friday Coffee Break we cover some exciting questions and one in particular that will give you new insight on what disclosures you should put on your purchase and sales agreements to satisfy not only a foreclosing lender but the end buyers Title Company. Listen in as we if there is any way to convince a Real Estate Agent, who is representing both the buyer and the seller, to let you control the deal, how you deal with a non cooperating BPO agents and appraisers, when and where our upcoming Short Sale Event will be held, what solutions there are for the 30 day funding issue, if a...
The “Real” Advantages and “Real” Disadvantages of Having a Real Estate License in a Short Sale Flip Transaction
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateDec 17th, 2009 | 3 responses
I have been getting a lot of questions lately about what the advantages and disadvantages of having a real estate license are when doing a short sale flip transaction, so I figured I would shed some light on it in this video. Listen in as I not only cover this “hot” topic but I also cover whether or not you can change a buyer on a short sale transaction when you are stepping out of a wholesale short sale deal, how to make yourself a “named insured” or take over a homeowners hazard insurance policy on a “subject to” deal, how to structure your business when doing loss mitigation work...
Your #1 “Must Have” When Getting into a Partnership: Know YOUR EXIT STRATEGY!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateDec 10th, 2009 | 3 responses
Whether or not to bring on a partner to help grow your existing real estate business is always a tough decision to make. There are many unknowns and many misconceptions on what is important and what is not. Listen in as I cover the #1 thing that you absolutely need to have if you are deciding to go into a partnership. Also listen in as I go over whether or not you can use an option contract to flip a property to an FHA buyer, who our company uses as a transactional funding source, the “correct” message to put on all of your online and off-line marketing pieces and much more. Visit www.FridayCoffeeBreak.com...
The In’s and Out’s of Title Companies That Will Write a Title Policy on the B of A ”30 Day” Flip Language
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateDec 3rd, 2009 | 2 responses
There has been a lot of talk about Bank of America’s short sale acceptance letter, mostly their item #10, which states we have to hold a property we short sale for 30 days before we resell that property: the big challenge we all face is finding a title company to write a title policy with that language in it. Listen in as I go over the facts on who will do it and what language they will put in the policy to save their own butts! Also listen in as we go over what to do when there is a leaky oil tank in a property you are short selling, the best properties to invest in for 2010, how to get a clear...
5 Slam Dunk Ways to Get Out of Your Real Estate Rut!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateNov 19th, 2009 | 3 responses
Every real estate investor has at one time or another gotten stuck in a real estate rut! Listen in as I go over the 5 sure fire ways to get out of that rut and also make sure you don’t become the proverbial Octopus on roller-skates (eight legs all going in different directions at the same time). Also listen in as we go over whether or not a mortgage insurance company can demand a promissory note in exchange for a short sale acceptance letter, whether a family friend can buy a house from someone in foreclosure, what title company we recommend working with and much more. Visit www.FridayCoffeeBreak.com...
53 Year Old With No Credit But a Ton of Passion: Where Do I Start?
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateNov 12th, 2009 | one response
What would you do if you were 53 years old with no credit and no money, but had an intense burning desire to become extremely successful? Listen in as we go over the most important things to focus on to achieve your goals. Also listen in as we go over what to do when a 2nd lien holder tells you that their debt has been charged off, what a ‘Lender Structured Deed-in-Lieu’ is and how it shows up on your credit report, what to disclose to your C Lender when you are short saling and reselling a property and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com...
What is the Proper Insurance for Real Estate Investors? It’s Not That Complicated!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateNov 5th, 2009 | 6 responses
Getting the proper insurance, when you invest in real estate, is a very important part of protecting yourself and your business. Listen in as I talk about what insurance you need and what insurance you don’t need! I also cover whether or not you can buy and flip properties if you are a licensed real estate agent, whether the 2004 Fannie Mae Bulletin states if flipping is legal, what the best list source is for commercial properties and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos.
Back to the Basics: The Primary Steps You Need to Take When Getting a Short Sale Business Off the Ground!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateOct 29th, 2009 | 2 responses
Even if you are a seasoned investor or a beginning investor there are times when we all need to get back to the basics. Listen in as I explain where brand new investors should start their businesses and who they should partner with to get a jump start on the competition. I also cover the latest and greatest on the extension of the $8000 tax credit, whether a brother of someone who is getting foreclosed on can purchase that home, whether two owners that are both on the same deed but not both on the mortgage need to fill out a short sale package and much more. Visit www.FridayCoffeeBreak.com and...
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