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...
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...
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 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...
Funding for Back to Back Closes – Don’t Believe all the Hype on the Internet!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateOct 15th, 2009 | 9 responses
Before you jump into the latest “Guru selling a REO or short sale funding program” do your research because it might not be all it is cracked up to be! Listen in as I talk about the “new” back to back funding that is the entire buzz on the internet and what to watch out for in the coming weeks. I also cover which loans the $1500 short sale credit that sellers are going to get from the government will cover, what’s the best approach to discounting a mixed-use commercial property, whether or not the option contract legal, If there is a way to do a short sale when a pre-foreclosure property...
Should a Homeowner Sign a Promissory Note or Let Their Property Go to Foreclosure?
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateSep 3rd, 2009 | 4 responses
Letting a property go into foreclosure versus having a client sign a promissory note has always been a hot topic. Listen in as I go over why you have to be careful listening to the advice of some real estate so-called professionals who have it all wrong! This videos also covers the new FHA discount guidelines, what line item to put seller concessions on your HUD1 Settlement Statement, why some portfolio lenders are sitting on REO’s and much more. www.FridayCoffeeBreak.com. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos and articles.
When To List And Re-list A Property On A Wholesale Short Sale Flip Transaction
Posted by Patrick Precourt in Business, Investment, Marketing, Preforeclosure, Real EstateJul 16th, 2009 | 7 responses
There has been a lot of confusion on when and how to list and then relist a short sale property when your intension is to buy and then immediate resell a property. Listen in as we go over how long we list a property with the homeowner before we relist it with our contractual right. We also cover, while negotiated a retail short sale whether or not we get paid when we get the short sale approved or at closing, whether or not we have “proof” that title companies and end lenders are shying away from option contracts and much more. Visit www.FridayCoffeeBreak.com for more real estate specific videos.
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...
Newbie Seeks Help on Where to Start His Real Estate Business with No Money and Bad Credit
Posted by Patrick Precourt in Investment, Preforeclosure, Real EstateMay 7th, 2009 | 6 responses
Starting a real estate career with no money and bad credit is a thing that can be done but you need to leverage other people to do this! In this video you will see how to do it with no money and bad credit. This real estate question and answer video will also answer if you can sell a short sale property to a tenant who is living in a defaulted property, the formula to getting a BPO or Appraisal to come it at the number you need while listing the property, how to avoiding any seasoning requirements by using an LLC and much more…check out all the other great Q & A video’s on the www.FridayCoffeeBreak.com...
About Me
