Friday Coffee Break» Real Estate

Do Foreclosing Lenders Cross the Line by Black-balling Investor Buyers?

Patrick Precourt — Thu, 15 Jul 2010 21:33:00 +0000

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!

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All Real Estate Agents and Investors Screwed by Obama and Pelosi!

Patrick Precourt — Thu, 08 Jul 2010 22:44:46 +0000

Have you seen the absolutely ridiculous tax that our fearless leader is going to be hitting real estate professionals and normal homeowners with in the very near future? If you are either, buying or selling homes in any fashion, this will apply to you! Listen in to this week’s Friday Coffee break as I cover this buried real estate tax that will affect you.

We also cover whether you can buy and sell a Fannie Mae backed bank owned property within 90 days, whether or not a short sale property needs to be listed when making an offer, whether or not you can withdraw a short sale offer after a BPO and if you use the same entity when doing so and more. Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

Must Read! Don’t Ever Forget Why We Are the Best Country in the World and Why You’re Are Still Free!

Patrick Precourt — Thu, 01 Jul 2010 20:59:12 +0000

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.

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Recession? What Recession? We Are Actually Running Into A Housing Shortage!

Patrick Precourt — Fri, 18 Jun 2010 04:05:13 +0000

As a lot of you may know, my job in my real estate company and as one of the main Mentors in our Fortune Builders Mastery Program is to stay ahead of any changes in the real estate investment world and to forecast what is coming down the road as far as challenges and opportunities so we can make money before everyone else jumps on the bandwagon. Well, I have to tell you, we will all be in for a huge surprise if changes are not made immediately! Listen in as I go over what our hurdles will be and also where our challenges will lie for the future of real estate investing! Also listen in as I cover what the delisting of Fannie Mae and Freddie Mac means to our real estate investing environment, what I think about the recent Freddie Mac letter that talks about short sales being fraudulent really, whether a short sale can occur if a homeowner is current, our upcoming bootcamp with Fortune Builders and Than Merrill and much more. Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

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Beware Of The “Hawkers!” Research Your GURU Before You Invest In Their Education

Patrick Precourt — Thu, 10 Jun 2010 21:38:24 +0000

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.

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The Truth About Whether Or Not The REO Market Is A Waste Of Time!

Patrick Precourt — Fri, 04 Jun 2010 15:13:58 +0000

Buying and holding, buying and rehabbing or buying and wholesaling REO properties has been an absolute craze with today’s top Real Estate Guru’s… The questions that I always get are: Are the Guru’s right, are they wrong, does it work, are they full of crap, etc? Listen in to today’s Friday Coffee Break to see the facts and what the real truth is… Also listen in to find out whether or not you can subdivide a property in default; then short sale one parcel and keep the other free and clear, whether or not, on an “A” to “C” transaction, a property should be listed with the “A” Seller (as Seller) rather than “B” Investor (as Investor) so the bank pays the Realtor commissions, whether or not there is a fiduciary responsibility conflict with being an agent and the investor when doing the A to B and B to C closings with short sales, whether or not you need to get short sale documents from an estate when the subject property is over-debted and more. Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

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What Is Your “Fiduciary Responsibility” When You Are Both An Agent And Investor?

Patrick Precourt — Fri, 28 May 2010 03:13:18 +0000

Investing in today’s real estate market has so many perks it would take me a book to write them all! However, it does not come without its many challenges and one of them comes when you wear more than one hat; one as an investor and one as a licensed real estate agent! Listen in as I cover what your direct fiduciary responsible is to your client when you are both (it’s a fine line so beware!)We also cover when FHA’s short sale clock starts when negotiating a short sale, how to prevent buyers from walking on your short sale transaction, whether Freddie Mac’s anti flipping article is effecting our investing industry, the best way to get pitch your short sale services to real estate agents and much more. Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

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Is It Fraud If You Flip a Successful Wells Fargo/ASC Short Sale?

Patrick Precourt — Sat, 22 May 2010 03:39:04 +0000

Flipping short sale properties is an incredible way to make money in today’s’ real estate investing world, however flipper beware! What I mean by that is beware of the coveted short sale acceptance letter and how it is written. Too many time I see banks try and slip in some sly verbiage that would make flipping a short sale practically “illegal!” Listen in as I not only cover this “hot” topic but I also cover whether or not you have to file a DBA (doing business as) of your LLC with every different county where a short sale you are negotiating is located, if a Land Trust still works in today’s preforeclosure business, when a homeowner is supposed to send in their house payment while the new HAFA short sale process is going on, how and where a new investor should begin their investing career, what to do when a banks loss mitigator will not update their notes when you call to check on the status of the short sale and more.

Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

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Can I Operate A Real Estate Business Without A License?

Patrick Precourt — Thu, 13 May 2010 23:32:32 +0000

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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The Latest “Unknown” Government Short Sale Changes! Will the new HAFA Program Work or Not?

Patrick Precourt — Fri, 07 May 2010 03:22:20 +0000

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!