Currently Browsing: Short Sales
What Is Your “Fiduciary Responsibility” When You Are Both An Agent And Investor?
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real Estate, Short SalesMay 27th, 2010 | one response
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...
Is It Fraud If You Flip a Successful Wells Fargo/ASC Short Sale?
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real Estate, Short SalesMay 21st, 2010 | no responses
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...
The Latest “Unknown” Government Short Sale Changes! Will the new HAFA Program Work or Not?
Posted by Patrick Precourt in Business, Industry Changes, Investment, Preforeclosure, Real Estate, Short SalesMay 6th, 2010 | 5 responses
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...
Are Short Sale Flips Illegal? Freddie Mac May Think So!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real Estate, Short SalesApr 29th, 2010 | 4 responses
On this week’s Friday Coffee Break Patrick Precourt digs into the latest Freddie Mac article that states that flipping short sales is fraud! If you are investing in short sale properties or planning on it you will not want to miss this week’s Friday Coffee Break! Does this article mean that our short sale investing careers are over or it just another “blown out of proportion” Enquirer type printing? Listen in as we cover this hot topic and also how to correct write a contract so a short sale lender doesn’t ask you for your LLC’s Articles of Incorporation, where our “investor opportunity”...
How Long After a Short Sale Can a Lender Go After Me for the Difference?
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real Estate, Short SalesApr 16th, 2010 | one response
Don’t you feel like it seems like the short sale game is changing on a daily basis? One day the government comes up with a new program that states our sellers are not liable for the tax portion of the forgiven debt only to find out that again they wasted the Tax Payer’s money (our money) because only a tiny pool of homeowners actually qualify! Listen in as I go over how long after a short sale transaction that a lender can go after our clients (the homeowner(s)), what to do when you are negotiated a short sale only to find out the lender requires the property be listed by a licensed real estate...
Can A Homeowner Do A Short Sale If They Are Current?
Posted by Patrick Precourt in Business, Investment, Marketing, Preforeclosure, Real Estate, Short SalesApr 9th, 2010 | 4 responses
There is a lot of misinformation in today’s real estate world and one of the biggest ones revolves around the question of whether or not a lender will take a short sale or discount their total amount owed to them when a homeowner is current on their mortgage. Make sure you listen in as we uncover what lenders are doing today as opposed to last year, the best ways to create monthly cash flow while being a short sale investor, the inside tricks to “Managing a BPO” so you get your desired outcome, whether or not a lender can tell a seller what he or she “has” to list their property at and...
Disclosure, Disclosure, Disclosure — What Exactly Do I Need in Writing to “Protect” Myself?
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real Estate, Short SalesMar 19th, 2010 | 2 responses
Disclosure is the number one thing that real estate investors and licensed real estate agents have to do in today’s real estate climate. When you are sitting with a seller or talking to them on the phone you have to make sure you are crystal clear on what you want to accomplish. If you are an investor “tell them” you are an investor, if you are looking to assign a contract that you have on their house “tell them”, if you want to do a short sale flip “tell them”, well you get the point! Disclose everything! On this week’s Friday Coffee Break we not only cover the...
In Real Estate Winners Never Quit and Quitters Never Win! Which One Are You?
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real Estate, Short SalesMar 12th, 2010 | 4 responses
In the real estate business quitting or even thinking of quitting is NOT an option! Time and time again I hear too many investors making some sort of excuse! (I am waiting to start because… I can’t do this because… I need to get more educated because…). If you take action and keep pushing through the hurdles you face on a daily basis you will have no other choice but to succeed! Listen in as I not only talk about this ever common business challenge, but I also cover how to weed through all the “GURU’s” on the Internet and which ones to follow, how to deal with a Realtor...
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...
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