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...
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...
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”...
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...
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...
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...
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 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...
53 Year Old With No Credit But a Ton of Passion: Where Do I Start?
Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateNov 12th, 2009 | one response
What would you do if you were 53 years old with no credit and no money, but had an intense burning desire to become extremely successful? Listen in as we go over the most important things to focus on to achieve your goals. Also listen in as we go over what to do when a 2nd lien holder tells you that their debt has been charged off, what a ‘Lender Structured Deed-in-Lieu’ is and how it shows up on your credit report, what to disclose to your C Lender when you are short saling and reselling a property and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com...
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