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...
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 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...
The 3 Top Reasons NOT to Use a Land Trust in a Real Estate Transaction!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateAug 14th, 2009 | 4 responses
There are so many reasons why you should not use a land trust in a real estate transaction in today’s real estate investing environment. Listen in as I go over the top 3 reasons why you should stay away from them, whether or not a lender will pay you a fee for negotiating a deed-in-lieu of foreclosure, whether or not a purchase and sales agreement seasons title, what loans are protected from deficit judgments and much more. Visit www.FridayCoffeeBreak.com for more real estate specific videos.
How to Clear Up Title When A Prior Investor Screws Up A Short Sale Deal!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateJun 26th, 2009 | no responses
When dealing with unscrupulous “uneducated” investors just know that they often times screw up deals! Listen in as I go over how to clean up titles after an investor transfers a property into a Land Trust then takes the property subject to the existing mortgage and then defaults on the mortgage! In this video I also cover when our national loan modification program will be rolling out, what the term “points” refers to when using hard money, what title companies still insure double closings, the best way to approach a real estate brokerage to get their business and much more… visit www.FridayCoffeeBreak.com...
The Trick to Getting a Property Closed If The 2nd Mortgage Requires More Than The 1st Will Allow!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateJun 12th, 2009 | 4 responses
Second Mortgages are more often requiring more money than a 1st mortgage will allow when dealing with a short sale! With that being said, I go over how to legally get paid when a buyer is willing to pay the difference. This video will also cover whether or not it is better to have separate LLC’s if you buy and sell over 5 properties per month, what the exact verbiage to use on your purchase & sale agreements that would make it just as effective as an option contract (if any), how to tie up a property so another investor doesn’t mess up your deal, and much more… visit www.FridayCoffeeBreak.com...
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