Do Foreclosing Lenders Cross the Line by Black-balling Investor Buyers?
Posted by Patrick Precourt in Business, Industry Changes, Investment, Preforeclosure, Real Estate, Short SalesJul 15th, 2010 | no responses
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...
Beware Of The “Hawkers!” Research Your GURU Before You Invest In Their Education
Posted by Patrick Precourt in Business, Industry Changes, Investment, Marketing, Preforeclosure, Real Estate, Short SalesJun 10th, 2010 | one response
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...
The Truth About Whether Or Not The REO Market Is A Waste Of Time!
Posted by Patrick Precourt in Business, Investment, Marketing, Preforeclosure, Real Estate, Short SalesJun 4th, 2010 | 2 responses
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”...
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...
Can I Operate A Real Estate Business Without A License?
Posted by Patrick Precourt in Business, Industry Changes, Investment, Preforeclosure, Real EstateMay 13th, 2010 | no responses
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...
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...
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