Currently Browsing: Real Estate
With the “Updated” FDIC Loss Share Agreements: What’s the Future for Short Sales?
Posted by Patrick Precourt in Business, Industry Changes, Investment, Marketing, Preforeclosure, Real EstateFeb 25th, 2010 | one response
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...
What the “HAFA” is This New Government Short Sale Program All About?
Posted by Patrick Precourt in Business, Industry Changes, Investment, Preforeclosure, Real Estate, short salesFeb 19th, 2010 | one response
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...
Not Paying Attention to Detail Can Land You in Hot Water!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateFeb 11th, 2010 | 3 responses
As a real estate investor, paying attention to detail is one of the most important things when you are running a successful real estate investing business. Listen in as we tackle a challenge that one of our Coffee Breakers is going through on a short sale deal. We also cover the “ONLY” Real Estate Documents that you need in your car at all times so you make sure you never miss a deal, the best options on getting paid in a retail short sale that goes A to C, whether or not your homeowner can get both a 1099 and a deficiency judgment on a short sale transaction, and much much more. Visit...
When to “Fire” your Seller in a Short Sale Transaction!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateFeb 4th, 2010 | one response
On this week’s Friday Coffee Break we go over the best time to say “thanks” but “no thanks” to your short sale sellers! In the short sale business you will sometimes have to be like Donald Trump and say “YOU ARE FIRED” to your sellers. Listen in as we not only cover this extremely important topic, but we cover the BEST handwritten verbiage to put on a postcard to get a homeowner to contact you over the competition, what sneaky things lenders are now doing when attempting to collect on a deficiency judgment, whether or not you can protect yourself against...
Beware of Realtors Who Learned Short Sales Through A Certification Course!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateJan 28th, 2010 | one response
On this week’s Friday Coffee Break we touch upon the little known facts about dealing with real estate agents that have learned short sales through a half day certification course. Could they possibly be the expert after half a day? Who knows, but make sure you listen to this video and I will let you know what I think! We also cover whether a bankruptcy list is a good list to target and where the best place to get that list is, whether or not you should cover up a mold issue that arises after an inspection, the best way to handle a 2nd lien holder when they are being unreasonable and much...
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...
About Me
Short Sale Bootcamp
