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...
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...
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...
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!...
5 Slam Dunk Ways to Get Out of Your Real Estate Rut!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateNov 19th, 2009 | 3 responses
Every real estate investor has at one time or another gotten stuck in a real estate rut! Listen in as I go over the 5 sure fire ways to get out of that rut and also make sure you don’t become the proverbial Octopus on roller-skates (eight legs all going in different directions at the same time). Also listen in as we go over whether or not a mortgage insurance company can demand a promissory note in exchange for a short sale acceptance letter, whether a family friend can buy a house from someone in foreclosure, what title company we recommend working with and much more. Visit www.FridayCoffeeBreak.com...
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...
Transactional Funding is a Glorified Simultaneous Closing!
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateSep 10th, 2009 | 4 responses
Many people hear that transactional funding is the answer to our flipping challenges! However listen in as I tell you what type of funding you will need to close your transactions now and in the near future. I also cover what a newbie should focus on when getting deals, whether a seller SHOULD or SHOULD NOT sign a promissory note from a foreclosing lender, how to get paid and who to get paid by when you can’t make a big wholesale spread and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos.
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...
Where Investors Should be Focusing, Explanation of Toxic Assets and The Government Tax Credit
Posted by Patrick Precourt in Real EstateFeb 13th, 2009 | no responses
Live Friday Coffee Break video with Patrick Precourt of North Shore Enterprises. Thanks to everyone for being on the Challenges and Opportunities 2009 call. If you missed it, click the link below this video to listen to the call.
In this video Pat answers questions from investors around country with questions including where investors should be investing, dealing with first time leads, an explanation of toxic assets, the $15,000 government tax credit and more. Check out the video and if you have any questions feel free to submit them using the form to the right.
http://www.ChallengesAndOpportunities.com
Take...
About Me
