The Consumer Price Index, the government's key inflation reading, rose 2.7% during the past 12 months compared to 2008. Gasoline prices rose 53.5% over the last year while food prices decreased 0.5%, according to the report. The so-called core CPI, which is more closely watched by economists because it excludes volatile food and energy prices, was up 1.8% over the past year. Excess slack in both the industrial sector and the labor market are keeping inflation pressures muted. The Federal Reserve has promised to keep overnight lending rates near zero for an extended period of time. The Labor Department said its Consumer Price Index rose 0.1 percent last month, driven by a sharp rise in the index for used cars and trucks, after rising 0.4 percent in November. But the gain was smaller than the 0.2% rise Economists surveyed by Briefing.com had forecast. Manufacturing growth in New York State accelerated more rapidly than expected in January on surging new orders and shipmen
ts, and employment also improved, the New York Federal Reserve said on Friday. The survey of manufacturing plants in the state is one of the earliest monthly guideposts to U.S. factory conditions.
Saturday, January 23, 2010
Even when they do it right, they do it wrong.
As you know, The original $8000 tax credit was just good for first-time home buyers and was slated to end on Nov. 30. But Congress extended the credit to include contracts signed by April 30 and closed by June 30. It also made a refund of up to $6,500 available to existing homeowners looking to buy something new. Nov. 6 marked the date that the rules changed because an extended -- and expanded -- version of the homebuyer tax credit went into effect. And that put filing for the credit on hold, and started a new IRS paperwork wrangle. Those homeowners who closed their sale before Nov. 6 used Form 5405 to claim the credit, but those closing after that date are in limbo because no form yet exists for them to file. The IRS had been expected to come out with a revised form by early January, but it has yet to release anything. Robert Dietz, an economist with the National Association of Home Builders who has been monitoring the situation, said the delay may be caused because numer
ous parties, including the Treasury Department, have to agree on how to process all the new documentation that the expanded tax credit requires. "They may just be making sure all their i's are dotted and their t's are crossed before they release it," Dietz said.
ous parties, including the Treasury Department, have to agree on how to process all the new documentation that the expanded tax credit requires. "They may just be making sure all their i's are dotted and their t's are crossed before they release it," Dietz said.
Olick -- Holiday Moratoria Didn't Reduce Foreclosures
Diana Olick of CNBC pointed to a surge of 14% in foreclosures in December -- a month in which foreclosures traditionally drop off because lenders impose moratoria over the holidays. Olick asked RealtyTrac's Rick Sharga why, and here's his answer: "In fact, our numbers surged in early December and dropped off significantly throughout the month. We've attributed the growth to this being the end of both the quarter and the year, and lenders trying to clean up their books. Secondarily we're probably starting to see some of the foreclosures hitting the books now after being delayed over the past few months by legislative or procedural issues (Nevada, for example, was up significantly after two months of artificially low numbers while the state put its mandatory mediation program in place). The spike in REOs also supports this theory." Olick adds that many of those borrowers who didn't make the final cut in the government's Home Affordable Modification Program are going back on
to the foreclosure rolls
to the foreclosure rolls
Big nationwide auctions have recently made headlines but what is actually better for the average short sale investor...REO or bank auctions? Let's tak
Big nationwide auctions have recently made headlines but what is actually better for the average short sale investor...REO or bank auctions? Let's take a few minutes to examine the pros and cons for each.
Title - Purchasing a property via auction frequently entails a commitment to all outstanding debts including unexpected liens and other judgments in addition to those for which the auction is taking place. By purchasing a bank owned property you will typically have assurance of clear title or at least a complete awareness of other fees or liens due.
Occupants - Property sold at auction frequently has tenants or prior owners still in place, causing new owners to engage in immediate action in order to take possession. Bank owned properties have often evicted former occupants thereby eliminating the need for out of pocket legal expenses. Just keep in mind, this is changing and some short sale investors have encountered squatters. On the other hand, depending upon you plans for the property, having paying tenants may be a strong positive.
Finance Terms - Auctions require advance funding to be in place while bank owned properties may actually offer added terms or beneficial interest rates in order to move a non-performing property off their portfolio. Since it can cost a lot of money for a bank to keep a property on their books, one way they entice others to purchase is by negotiating the terms of the finance offers. This is especially true in areas where lenders may be limited by the number of homes they can release on the market (ie, federal regulations prohibit "dumping" in certain neighborhoods - often the same ones where many non-performing loans were originally written). By offering highly favorable financial terms, banks are able to shift properties off their books without continuing to drive down prices.
Bottom line - Short sales are perhaps the best bargain of all but don't underestimate the value in bank owned properties. Auctions are a lot of fun but not always indicative of the best value especially for those just starting out or who only intend to purchase one or two properties. If you are searching for REO properties then try out this great (updated for January 2010!) list:
Title - Purchasing a property via auction frequently entails a commitment to all outstanding debts including unexpected liens and other judgments in addition to those for which the auction is taking place. By purchasing a bank owned property you will typically have assurance of clear title or at least a complete awareness of other fees or liens due.
Occupants - Property sold at auction frequently has tenants or prior owners still in place, causing new owners to engage in immediate action in order to take possession. Bank owned properties have often evicted former occupants thereby eliminating the need for out of pocket legal expenses. Just keep in mind, this is changing and some short sale investors have encountered squatters. On the other hand, depending upon you plans for the property, having paying tenants may be a strong positive.
Finance Terms - Auctions require advance funding to be in place while bank owned properties may actually offer added terms or beneficial interest rates in order to move a non-performing property off their portfolio. Since it can cost a lot of money for a bank to keep a property on their books, one way they entice others to purchase is by negotiating the terms of the finance offers. This is especially true in areas where lenders may be limited by the number of homes they can release on the market (ie, federal regulations prohibit "dumping" in certain neighborhoods - often the same ones where many non-performing loans were originally written). By offering highly favorable financial terms, banks are able to shift properties off their books without continuing to drive down prices.
Bottom line - Short sales are perhaps the best bargain of all but don't underestimate the value in bank owned properties. Auctions are a lot of fun but not always indicative of the best value especially for those just starting out or who only intend to purchase one or two properties. If you are searching for REO properties then try out this great (updated for January 2010!) list:
Lawyers and Foreclosure Defense
Florida was hit hard by foreclosures in 2009, and a predicted increase in foreclosures in 2010 has prompted many attorneys to add foreclosure defense to their practices, according to Sarasota, Florida-based AmStar Litigation Support, a provider of continuing education and legal process outsourcing (LPO). In 2009, the Sunshine State had the second-highest number of foreclosure filings in the country, according to market researcher RealtyTrac, and it doesn’t appear that this trend will fade in 2010. Analysts believe unemployment and adjustable rate mortgages scheduled to recast this year will push a massive supply of delinquent loans into the foreclosure process. An increasing number of Florida homeowners face the prospect of losing their homes, and as a result, AmStar says the expertise of attorneys skilled in foreclosure defense remains in high demand.
Monday, January 18, 2010
Successful home buying & selling business
Every once in a while, something or someone comesalong and radically changes things in an industry. Thebar gets raised to extraordinary heights never beforeseen in history. Think "the 4 minute mile."Things are turned upside down, and competitors scramble to innovate and keep up with the new industrystandard. Often times all they can do is copy the personor product, but often to no avail. Think "Apple Iphone."Up until now, about 20% of newbie real estate investors actually make it. 80% fail. The reason is because theknown system for buying and selling houses has beentoo difficult. Too overwhelming. The majority ofpeople simply are not wired to do the 900 thingsnecessary to run a successful home buying & sellingbusiness. It’s too much.>>>Take a Look at the Future<<<But that is all ancient history. A new era is beingushered in with ...Freedom$oft.Technology has finally been created that not onlymanages the "organizational" side of your business(like all the others focus on), but quite literally finds,buys, and sells your houses for you. And no, I am notover-exaggerating (as is the manner of some).But talk is cheap, and I know you deserve a trophy forreading this far as it is. You’re busy, and so am I. Seefor yourself. A sneak-peak demo has been temporarilyposted online for you to see it in action. If you wait toolong to witness this ... don’t say I didn’t warn you.Let me know what you think. I will be getting thisthe second it becomes available (along with the restof the world). The line has already started forming.Be well,
Mike PS: This is like nothing you have ever seen before.This thing literally does everything for you thatpreviously required a learning curve and mentaleffort. We are about to see 80-20 rule totally flippedaround. Watch.
Mike PS: This is like nothing you have ever seen before.This thing literally does everything for you thatpreviously required a learning curve and mentaleffort. We are about to see 80-20 rule totally flippedaround. Watch.
Brand New Automated Wholesaling Machine
"Brand New Automated Wholesaling MachineFrom Outer Space Finds Motivated Sellers, AnalyzesLeads, Computes Values, Writes Offers, Negotiates,Follows Up, Outsources Short Sales, & Finds BuyersFOR You So You Can Go Work On Your Tan!", real estate investing as we know it is dead.Want shocking proof? Click Here For Shocking Proof =>http://www.freedomsoft.com/freedomsoft-is-here/?a_aid=4ab02ca7aa821Every once in a while, something or someone comesalong and radically changes things in an industry. Thebar gets raised to extraordinary heights never beforeseen in history. Think "the 4 minute mile" -- whenRoger Bannister did what everyone thought was impossible.Things are turned upside down, and competitorsscramble to innovate and keep up with the new industrystandard. Often times all they can do is copy the personor product, but often to no avail. Think "Apple Iphone."Up until now, about 20% of newbie real estate investors actually make it. 80% fail. The reason is because theknown system for buying and selling houses has beentoo difficult. Too overwhelming. The majority ofpeople simply are not wired to do the 900 thingsnecessary to run a successful home buying & sellingbusiness. It’s too much. Think "Death of a Salesman."Click Here For "The Change" =>http://www.freedomsoft.com/freedomsoft-is-here/?a_aid=4ab02ca7aa821But that is all ancient history. A new era is beingushered in with ...Freedom$oft.Technology has finally been created that not onlymanages the "organizational" side of your business(like all the others focus on), but quite literally finds,buys, and sells your houses for you. And no, I am notover-exaggerating (as is the manner of some).But talk is cheap, and I know you deserve a trophy forreading this far as it is. You’re busy, and so am I. Seefor yourself. A sneak-peak demo has been temporarilyposted online for you to see it in action. If you wait toolong to witness this ... don’t say I didn’t warn you.Let me know what you think. I will be getting thisthe second it becomes available (along with the restof the world). The line has already started forming.Talk soon.- Nathan J. The Short Sale Kidp.s. this is like nothing you have ever seen before.This machine literally does everything for you thatpreviously required a learning curve and mentaleffort. We are about to see 80-20 rule totally flippedaround. Watch.Click Here To Join The Revolution =>http://www.freedomsoft.com/freedomsoft-is-here/?a_aid=4ab02ca7aa821Loss Mitigation Training Institute LLC206 E. Pine StreetLakeland, FL
12 investing strategies
Did you know you can do “owner finance’ deals without using any ofyour own money whatsoever?And with these deals, you keep 100% of the down payment money youreceive from your retail buyer. (Which is usually 10% or more ofthe home’s value.)And retail buyers for owner financed homes are everywhere and VERYeasy to find… because most people can’t buy a home with traditionalfinancing today, even if they have a nice down payment and goodcredit.Selling houses with owner financing is one of the safest andeasiest investing strategies you can do today. To get them donedoes NOT require one dollar of your money!On the call I’m hosting today (Saturday) at 12:00 Noon EasternTime… and again tomorrow (Sunday) at 12:00 Noon Eastern Time… thisis one of 12 investing strategies you’ll learn about.Owner financing deals work great for sellers, too!Especially sellers who have little or no equity in their house, andare having trouble selling it. When you practice this “ownerfinancing” strategy, you’re able to offer these sellers a muchbetter deal than what they can get by listing their house with aRealtor. Sellers love it!And back to the retail buyers -- who are having a difficult timegetting conventional financing… you’re able to offer them a muchbetter deal than a bank or mortgage broker.Finding buyers and sellers for owner financing deals is S U P E R –E A S Y. First, they are everywhere… and second, it’s as easy asplacing a free ad on Craig’s List.To learn more about how you can start profiting on owner financedeals in your area, register for one of the two training calls I’mhosting this weekend….The first is today (Saturday) at…
Friday, January 15, 2010
*************Price Impact on ROI
One of the most commonly used valuation models for single family homes and short sales includes the Return on Investment or ROI. Despite the ease associated with using this calculation, the ROI is a robust measure of investment value that is both quick and convenient. However, it is also subject to a high level of volatility based upon the price of the property and type of funding in place. In fact, ROI is so dramatically influenced by funding mechanisms it is frequently considered a cornerstone by investment advisors. Let's take a look at a few hypothetical short sale situations to demonstrate the impact of price on the ROI as well as how it can be used to your advantage.Cash is still king and it speaks louder than ever especially with tightening lending standards and other banking irregularities; however, one area where cash doesn't hold up quite as well as the use of leverage is in the calculation of ROI or return on investment. Let's assume a short sale investor opts to purchase a property in cash for $100,000. If the property generated a one year rental return of $10,000 the total ROI is a fairly straightforward 10% or perhaps the property was flipped for a $20,000 profit and thereby the ROI was a handsome 20%. Both are completely realistic examples and certainly above and beyond what stocks, bonds or other inferior investments are currently able to deliver but the total return is a bit misleading. This can be due to the cost of borrowing the money in the first place (ie, what interest rate is being paid on the funds borrowed or the "spread" of the borrowed interest rate versus the total ROI received). For example, if the short sale buyer took out a home equity loan or borrowed against a 401-k plan, the interest rate may be a very reasonable 3 to 4 percent versus a total return of 10% - leading to a "spread" or ROI of 6-7 percent. On the other hand, some properties are truly purchased completely for cash so the entire ROI is theirs to keep...but is this always the best situation? Maybe-maybe not. There are a multitude of reasons to purchase a property for cash - not the least of which is the inability to obtain full financing on a distressed property, the ease and convenience of closing and the cost savings of not having to obtain PMI or other add-ons. However, there are very strong reasons to finance a property or use the maximum amount of leverage possible to maximize ROI. Going back to the former example, let's assume you financed a property for 80% of the value...$80,000 of the total price of $100,000. You used $20,000 out of pocket and received the same $10,000 annual rental or flipped for a quick $20,000. Instead of a respectable 10% to 20% return, you will now realize an eye-popping 50% to 100% return on your investment!Now let's take this one step farther...how important is price when it comes to ROI? The final answer is "it depends". Certainly buying right is a critical consideration in any short sale deal however, when using leverage, price becomes much less important due to the extreme rates of return generated. In the above examples, every $1,000 addition in cost reflects a significant gain or loss in the final cash ROI but in the leveraged position, paying an additional $1,000 for a property results in a paltry difference in the final ROI. Short sale investors should fully understand how to maximize ROI depending upon the price and funding source to be utilized for the deal. By doing so it is often feasible to pay more for a property while still maximizing the full profit potential of your portfolio.
Thursday, January 7, 2010
Flipping short sales
Ok, lets move onto the questions of the day: Eloise asks: I have had 3 recent foreclosures on rentals.How will I be able to bu'y short sales? D.C.: Flipping short sales with my virtual short salestrategy does not rely on your credit. You can have nocredit or terrible credit and make as much money as youdesire flipping short sales because my transactional funderdoes not check your credit. I’ll show you how to do it indetail tomorrow night. Join me here: http://www.dcfawcett.com/go Joe asks: When you submit your short sale package, your downgood faith money, what is amount you would normallysubmit...D.C. I don’t submit any earnest money down. You need toposition yourself as the expert and the solution to the realestate agent and their seller. They need to follow yourguidelines. You do this by using a well-craftedpresentation. I’ve created the presentation for you and it’sin the ARMM forms disk. Matt is going to be showing you moretips for working with agents and overcoming their objectionson tomorrow’s webinar and at the VSSI Live event in Jan. If the agent insists on putting something in the contract onthe earnest money deposit like, use TBD. And you are alsocovered in the addendum I provide for you in the AcquisitionPaperwork because it says that you don’t need to write thecheck for the earnest money until the short sale is approvedand you don’t need to approve the short sale until theclosing happens. You are covered. Talk to you tomorrow night at 8:00 pm ET, DCP.S. We were completely full last for last Tuesday’straining with me and my top student. We’re doing it againtomorrow night and we’re almost full. This is the last timewe are doing this training. So if you want to see it againor if you missed it, this is your final chance.
ZEROMarketing costs
This training is critical for your success and you mustattend it to get critical information about theupcoming VSSI Live Acceleration Event. This is a pre-training event to give next month’s seminar ajump start. Nothing will be sold on this webinar!We will be going over several case studies on luxury homesthat will show you how to build a business that generates a$1M annual income on autopilot with absolutely ZEROMarketing costs!Here are just a few of the things that you’ll Discover on this webinar: The 3 things that will kill a Realtor’s deal and theirpaycheck if they don’t have an investor involved in thedeal and how to step in as the knight and shining armor andsave the deal while making it a win-win for everyon'e involvedso everyon'e gets paid. The 2 most powerful reasons why an agent should work withyou on their short sales so they will bring their deals toyou and only you.The # 1 thing you should be doing right now to guarante'eyour success in this Foreclosure RICH environment.Nothing will be sold on this webinar! It is 100% training
Make More Money Faster •
Do you have a personal one on one coach? If not, you needone. When I started my first business, I had a personalcoach and I have 2 coaches now. One is my business coach andthe other is my personal fitness trainer. If you want to besuccessful, you need a personal one on one coach. It’s notan option. Having a personal mentor by your side you can rely on foradvice, guidance and support allows you to: • Make More Money Faster • Attain all of your goals faster • Avoid costly mistakes that could bankrupt you • Take massive shortcuts from someone that has alreadytraveled down that road • Walk you step by step through your deals • Automate your business so you can make more money and havemore time off to spend more time with your family orwhatever you love to do• Get an immediate response to your pressing questions Actually that is one of the questions we get very frequentlyat the office: “How do I get access to a personal mentor so I can get myquick questions answered the same day? I don’t want to wait2 weeks for the next coaching call to get the answer to myquestion. I just need someone to hold my hand through myfirst few deals.” CLICK HER'E to get the Answers I would not be where I am today if I didn’t have mentors inmy life. My Dad was my first mentor but I’ve had many morealong the way. I’m always working with a mentor because Iknow I will make at least 100 times more than what I investfor their mentoring. I cannot get the knowledge anywhereelse because it is from personal experience, not theory fromsome book. One of the other questions we get a lot is about our lossmitigation partnership program. This is the program where wepartner with you and we negotiate your short sales for yourdeals. Our VIP PLUS members can submit deals to us with amin value of $500K and the file submission fee per deal isonly $250. Here are the questions we get most often aboutour partnership program: “How can I get my deals valued under $500K negotiated byD.C.’s team?” “I realize that the $250 fee is nothing compared to how muchwe make per deal but if I submit 10 deals to you per month,that can get tough on my wallet. How can I submit my dealsto you without the fee?”
Wednesday, January 6, 2010
Create Massive profits
I just received some late breaking news...
This weeks training session on the power of using the internet in your real estate business was probably the best call I've ever heard.
We disclosed how the internet is adding more profits,speeding up the sales process, capturing 1,000s ofinvestor buyers from across the country; and addingnew cash flows.
All this with less work than we've ever had to do before.
If you missed the call, you missed some valuable newideas for growing your business.
However, by popular demand I've decided to have anEncore Presentation Tomorrow, Saturday June 6th at 1PM EST!!
Click Here To Register Now!
I wasn't the only one that thought last night's call wasincredible. Listen to what a few attendees said...
"I want to compliment you. I listened to last night'sWebinar. It was Incredible and you certainly have found your Passion. It was one of the most Powerful and Compelling Webinars I have ever attended and I have attended many." - K.C. Mulcare
"I'm sitting here with my mouth open at the strategies you just shared. I've been in this business a long time, but now....Oh has my mind been changed. I'm going toimplement your webinar strategy in the next 30 days. Wish me luck!" - Sybil Harvey
------------------------------------------------------------------------------This is your last Chance to hear this info!------------------------------------------------------------------------------
Don't forget this weeks special guest has been the infomarketing 'secret weapon' for many national industry experts for the last 6+ years.
You're going to learn how to...
- Build an investor buyers list in minutes and make instant income selling them information products evenbefore you do another deal!
- Create Massive profits using the power of the internet with your real estate business!
- Easily create multiple profit centers from yourcurrent business and capitalize on the ultra profitable information business!
- Drive hundreds of buyer and seller leads to yourbusiness within minutes of setup!
- Target & market to local or nation-wide buyersand sellers!
...and much more!
Grab your spot here before it's too late...
This weeks training session on the power of using the internet in your real estate business was probably the best call I've ever heard.
We disclosed how the internet is adding more profits,speeding up the sales process, capturing 1,000s ofinvestor buyers from across the country; and addingnew cash flows.
All this with less work than we've ever had to do before.
If you missed the call, you missed some valuable newideas for growing your business.
However, by popular demand I've decided to have anEncore Presentation Tomorrow, Saturday June 6th at 1PM EST!!
Click Here To Register Now!
I wasn't the only one that thought last night's call wasincredible. Listen to what a few attendees said...
"I want to compliment you. I listened to last night'sWebinar. It was Incredible and you certainly have found your Passion. It was one of the most Powerful and Compelling Webinars I have ever attended and I have attended many." - K.C. Mulcare
"I'm sitting here with my mouth open at the strategies you just shared. I've been in this business a long time, but now....Oh has my mind been changed. I'm going toimplement your webinar strategy in the next 30 days. Wish me luck!" - Sybil Harvey
------------------------------------------------------------------------------This is your last Chance to hear this info!------------------------------------------------------------------------------
Don't forget this weeks special guest has been the infomarketing 'secret weapon' for many national industry experts for the last 6+ years.
You're going to learn how to...
- Build an investor buyers list in minutes and make instant income selling them information products evenbefore you do another deal!
- Create Massive profits using the power of the internet with your real estate business!
- Easily create multiple profit centers from yourcurrent business and capitalize on the ultra profitable information business!
- Drive hundreds of buyer and seller leads to yourbusiness within minutes of setup!
- Target & market to local or nation-wide buyersand sellers!
...and much more!
Grab your spot here before it's too late...
foreclosure prospect?
Do you live in a super-competitive market where investors mob every foreclosure prospect? Are "We Buy Houses" signs everywhere in your town? Is it tough to find the time to focus on real estate investing when you have a day job?If you answered "yes" to any of these questions, you can't afford to miss this webinar! That's because there IS a way to use the Internet to save you time and make you big profits in real estate.We'll reveal the 11 things your real estate investing system MUST have in order to attract real estate deals.We'll discuss what to do after you get a lead, to make sure you turn that lead into a sale.Google has roughly 24 million people searching for ways to stop foreclosure everyday nationwide. We'll reveal the secrets to getting those motivated sellers in your area calling you! (Hint: It works FAST.)Remember, this call is FR*EE. Just show up 5 minutes early to secure a line and we'll see you there!
Value Estimator
You can get all the foreclosure leads you want without having to pay a single cent. (What other similar sites charge you $30-$80 for, you get it here for free - for life!)Plus, you get access to his Value Estimator which is probably the most accurate free software for finding out property value compared to other free value estimate sites.
The site is absolutely free to whoever wants to use it. But if you want extra value, sign up (also free!) and you'll get instant access to more leads, more information and even Tim's Lender Rolodex (a rolodex of hard money and private money lenders in the country!).I just thought you'll enjoy this site that Tim Mai put together for you so go ahead and check it out.
The site is absolutely free to whoever wants to use it. But if you want extra value, sign up (also free!) and you'll get instant access to more leads, more information and even Tim's Lender Rolodex (a rolodex of hard money and private money lenders in the country!).I just thought you'll enjoy this site that Tim Mai put together for you so go ahead and check it out.
To short sale 15 junker houses
Here’s some good news about the strength of home sales in 2010. These areas will be easier to sell homes because theywill take less days to sell. If you live close to any ofthese markets, these are great local markets to focus on.Find the high end neighborhoods in these markets and focuson the agents that list high end homes in high endneighborhoods. You can pinpoint zip codes to work in by using this FRE'Etool that tell you what the average price is per zip code.Pick the zip codes with the highest average sale price andyou will find the high end homes. This is an awesome tool to find values of homes by zipcode:http://www.melissadata.com/lists/ezlists/ezhomeowners.aspxYou should create a spreadsheet of zip codes with theaverage sale price and the number of foreclosures in thatzip code for the previous month. You can get the foreclosuredata from your local foreclosure data provider. If you don’thave one, you can get one for fre'e here: www.thebestforeclosurelist.comThen pick the zip codes that have the highest home valuesand the highest number of foreclosures for the month. Whenyou do this, you will notice that the zips codes that havethe ABSOLUTE highest number of foreclosures are the LOW ENDneighborhoods. Don’t pick those. If you want to learn how toshort sale 15 junker houses, go learn from the Nathan, theshort sale kid. I’d rather do 1 luxury deal per month
The Best 25 Housing Markets
More housing markets are forecast to experience appreciationin 2010 as the nation's real estate markets move closer tostabilization. The Best 25 Housing Markets named annually byHousing Predictor hold the strongest likelihood of housinginflation of all 250 market predictions issued.Despite the weak economy, home sales are increasing in themajority of the country and are projected to improve over atleast the first half of the year boosted by the federalgovernment's expansion of the first time home buyers' taxcredit to move-up buyers.Propelled by bargain prices, four Ohio markets top the listof the best 25. Prices got so low in most of Ohio that theyhave only one way to go. Bankers slashing prices offoreclosures and short sales are setting a new standard forthe real estate industry in order to try and save theirinstitutions from failure.Twelve states are represented on the top 25 list, includingmany midwest and northern-tier states, which have been lessseverely impacted by the housing crisis. In all, 44 marketsare currently forecast to experience housing inflation in2010. As we encounter the most challenging real estatemarket since the Great Depression, the predictions here willbe updated and change over the year. BEST 25 HOUSING MARKETS 2010 Rank- Real Estate Market- Forecast 1. Cleveland, OH 10.4% 2. Columbus, OH 9.4% 3. Cincinnati, OH 8.8% 4. Toledo, OH 6.5% 5. Lafayette, LA 5.4% 6. Des Moines, IA 5.1% 7. Arlington, VA 4.8% 8. Juneau, AK 4.2% 9. Davenport, IA 4.2% 10. Baton Rouge, LA 4.0% 11. Austin, TX 3.6% 12. Marquette, MI 3.2% 13. Fargo, ND 3.1% 14. Charleston, WV 3.1% 15. Iowa City, IA 3.1% 16. Shreveport, LA 2.9% 17. Bismarck, ND 2.9% 18. Rapid City, SD 2.8% 19. Philadelphia, PA 2.7% 20. Grand Rapids, MI 2.7% 21. Sioux Falls, SD 2.7% 22. Morgantown, WV 2.6% 23. Omaha, NE 2.5% 24. Bellevue, NE 2.3% 25. Pittsburgh, PA 2.3% Talk to you tonight at 8:00 pm ET, DC
Find The Seller"
99% of the real estate investors today are totally missing the point!What is the one thing that all truly successful real estate investors have in commom?They have a system for finding deals that other investors don't know about. In other words, they have "deal flow" and you don't!The emphasis in that last sentence is on "deals other investors DON'T know about" because most investors all chase the same deals and the competition is fierce.If you wanna be successful you have to do the exact OPPOSITE of everyone else.Join my good friend Stacy Kellams this Wednesday, Dec. 9that 9:00pm EST for a brand new, FREE training webinar whereyou'll learn a brand new system that's never been taught before.It's called the..."Undercover Private Liquidations System"**We have a limited number of seats so RSVP now by clicking the link below...
http://www.1shoppingcart.com/app/?af=1101256
Stacy has never done a training quite like this and he'sdefinitely never revealed such closely guarded secrets on a webinar.Here's just a taste of what you'll learn during this FREE training webinar...- The "Find The Seller" strategy and how to use it DAILY to generate cash on demand.- Why less really is MORE when it comes to finding motivated sellers (and how searching for FEWER deals can actually generate MORE deals for you...which means MORE cash in your bank account).- What a "lead magnet" is and why choosing the right one can mean the difference between a 1% response rate and a 50% response rate...- A behind-the-scenes look at his highest converting motivated seller lead campaign EVER (PLUS you have his permission to shamelessly knock it off!)...and a whole lot more.If you want to experience the sheer, unbridled joy of making a few clicks with your mouse and watching cash pour into your bank account (almost like magic), then you need to be on this webinar.Just register below and claim your spot on the training...
http://www.1shoppingcart.com/app/?af=1101256Here's to building your real estate business on a solid foundation,
http://www.1shoppingcart.com/app/?af=1101256
Stacy has never done a training quite like this and he'sdefinitely never revealed such closely guarded secrets on a webinar.Here's just a taste of what you'll learn during this FREE training webinar...- The "Find The Seller" strategy and how to use it DAILY to generate cash on demand.- Why less really is MORE when it comes to finding motivated sellers (and how searching for FEWER deals can actually generate MORE deals for you...which means MORE cash in your bank account).- What a "lead magnet" is and why choosing the right one can mean the difference between a 1% response rate and a 50% response rate...- A behind-the-scenes look at his highest converting motivated seller lead campaign EVER (PLUS you have his permission to shamelessly knock it off!)...and a whole lot more.If you want to experience the sheer, unbridled joy of making a few clicks with your mouse and watching cash pour into your bank account (almost like magic), then you need to be on this webinar.Just register below and claim your spot on the training...
http://www.1shoppingcart.com/app/?af=1101256Here's to building your real estate business on a solid foundation,
Tuesday, January 5, 2010
Lenders stopping you from flipping properties
And if you’ve been frustrated by lenders stopping you from flipping properties with 30–day "seasoning rules"......where they make you hold the house 30 or more days before reselling it, then this will be the most exciting email you’ve read in the last twelve months.My friend Nathan’s got the goods on the banks. He and his buddy, Attorney Chris McLaughlin, discovered a 100% legitimate way to overcome the seasoning rules.I’ll bet you want to know how — I sure did!They reveal all in this free webinar here:https://www2.gotomeeting.com/register/682227346Imagine being able to find and flip a property, then being able to move on to the next one immediately.It’s an investor’s dream come true.And let me tell you, the people that Chris and Nate have shown this to are out there flipping properties with little or no competition.I’ll bet you can see yourself reselling 5, 6, 8, even 10 or more properties per month effortlessly......while other investors shake their heads in wonder, because they’re stopped dead in their tracks.But there is a catch.We explain all in this free webinar, but we do not have unlimited slots open. I cannot guarantee you’ll get a chance to hear these guys spill their guts on their secret strategy unless you sign up right away.Hurry, there’s going to be competition for these openings. So go here now:
UNLIMITED Proof of Funds Letters
How to Get UNLIMITED Proof of Funds Letters, customized for YOUR offers! * How to Find the Best, Most Profitable Bank-Owned Deals in Your Area, and Get Them BEFORE Your Competition Even Knows They Exist! * How to Safely and Legally Fund Foreclosure Deals- Without Credit or Even Borrowing a Single Nickel! * How to Build a Big, Powerful Buyer's List to Sell Your Foreclosure Deals to... on 97% Automatic Pilot! * THE ABSOLUTE BEST, FASTEST, EASIEST, and Most Profitable Strategy For Buying As Many Bank Owned Properties (REO's) as You Wish, and Flipping Them For Cash at Closing
Seller Finance Magic
there's a better way to acquire real estate...
Just about every rental property I own was purchased with Seller financing. There are amazing benefits to buying with seller financing; here are just a few:(1) No bank financing or approval required(2) No private lenders to split profits or equity with(3) Buy with very little down payment(4) Structure monthly payments the house can easily afford(5) Ability to restructure the loan/payments if necessary(6) Privacy - Deed straight in to a land trust & not on your credit report(7) Easier to get ZERO or very low interest rates.When you learn how to find seller finance opportunities and buy with seller financing, there'sa good chance you'll abandon buying any other way. It's easier than every to buy with seller financing now. It's a skill you definitely need to learn! Some of my rental properties were purchased with seller financing which mirror and wrap an underlying loan (subject to the mortgage) and others were free and clear houses but the terms of the sale were that I would buy with a small down paymnet then monthly payments until paid in full. Here's a typical deal:Purchase price: $87,000Down payment: $1,000Closing costs: $1,000Fix up costs: $1,500Value: $115,000Payment: $780 ( piti)Rent: $1100Notice there's NOT a big discount between the value and the purchase price but the "terms" make the deal work. For only $3,500, I was able to acquire this property and create monthly cash flow of $320 per month. Heck, you can even pay full price if the terms are good enough. The terms are much more important than the purchase price with you're buying with seller financing.The 3/2/2 property above was purchased 10 years ago. I've had two tenants in the house during that whole time. How much has that $3500 investment made me in 10 years? The tenants are paying down the mortgage for me. The cash flow has paid for any repairs that needed to be done. I could have sold this house with seller financing that wraps the underlying seller finance note. Then I'd have NO repair costs. There's a way to keep all or part of the equity too. You'll learn how to do this too. There are many other advantages to buying with seller financing. This is also the perfect way to acquire the next house you live in!To learn more about buying with seller financing, join us in Arlington Texas on January 16-18th for the "Best Real Estate Strategies for 2010" seminar.You'll learn how to find seller finance deals - it's easier than you think!You'll learn how to structure the deals - it's easier than you think!You'll learn multiple exit strategies - it's easier than you think!
Just about every rental property I own was purchased with Seller financing. There are amazing benefits to buying with seller financing; here are just a few:(1) No bank financing or approval required(2) No private lenders to split profits or equity with(3) Buy with very little down payment(4) Structure monthly payments the house can easily afford(5) Ability to restructure the loan/payments if necessary(6) Privacy - Deed straight in to a land trust & not on your credit report(7) Easier to get ZERO or very low interest rates.When you learn how to find seller finance opportunities and buy with seller financing, there'sa good chance you'll abandon buying any other way. It's easier than every to buy with seller financing now. It's a skill you definitely need to learn! Some of my rental properties were purchased with seller financing which mirror and wrap an underlying loan (subject to the mortgage) and others were free and clear houses but the terms of the sale were that I would buy with a small down paymnet then monthly payments until paid in full. Here's a typical deal:Purchase price: $87,000Down payment: $1,000Closing costs: $1,000Fix up costs: $1,500Value: $115,000Payment: $780 ( piti)Rent: $1100Notice there's NOT a big discount between the value and the purchase price but the "terms" make the deal work. For only $3,500, I was able to acquire this property and create monthly cash flow of $320 per month. Heck, you can even pay full price if the terms are good enough. The terms are much more important than the purchase price with you're buying with seller financing.The 3/2/2 property above was purchased 10 years ago. I've had two tenants in the house during that whole time. How much has that $3500 investment made me in 10 years? The tenants are paying down the mortgage for me. The cash flow has paid for any repairs that needed to be done. I could have sold this house with seller financing that wraps the underlying seller finance note. Then I'd have NO repair costs. There's a way to keep all or part of the equity too. You'll learn how to do this too. There are many other advantages to buying with seller financing. This is also the perfect way to acquire the next house you live in!To learn more about buying with seller financing, join us in Arlington Texas on January 16-18th for the "Best Real Estate Strategies for 2010" seminar.You'll learn how to find seller finance deals - it's easier than you think!You'll learn how to structure the deals - it's easier than you think!You'll learn multiple exit strategies - it's easier than you think!
Friday, January 1, 2010
Homeowners to file BK to stop the foreclosure
I’ve got an awesome strategy for you that will allow you to dominate your market because your competition doesn’t knowabout this strategy. This is just one of the strategies I’llbe covering on tomorrow’s webinar. Get in Here: http://www.dcfawcett.com/go
When a homeowner that’s in foreclosure files bankruptcy, itimmediately stops the foreclosure process and it stops theforeclosure auction from happening even if the BK is filedthe day before the foreclosure auction. It’s very commonforhomeowners to file BK to stop the foreclosure auction sothey can stay in their house longer.
This only delays theinevitable. Sooner or later, they will be kicked out of the bankruptcyprocess and they will be back into the foreclosure process.There is a loophole in the system that we take advantageof.It takes 30 days for the property to be put back into theforeclosure process. That means they don’t go back onto the foreclosure list for30 days and they are very MOTIVATED to sell because thesehomeowners know they will be put back into foreclosure andthey will be kicked out of their house by the Sherriff. These 30 days are your window of opportunit*y to get allthese deals to fill your pipeline before anyone.
I’m going to show you that loophole and how to find thesedeals the day after they get kicked out of bankruptcy soyoucan get the deal before it shows up on any foreclosure listand before your competition knows about it. Register Here: http://www.dcfawcett.com/goThere is a huge opportunit*y right now with these dealsbecause number of bankruptcy filings in third quarter of2009 soars to highest level since 2005.
Businessbankruptcies filed this year top 2008 total.The total number of bankruptcies filed in the third quartersurged 33% in 2009 and is at the highest level since 2005,according to data released Wednesday.The American Bankruptcy Institute, an industry researchfirm, said 388,485 bankruptcies were filed during the lastquarter, compared to 292,291 filed during the same periodin2008, according to data released by the AdministrativeOffice of the U.S. Courts.Filings for the first nine months of the year climbed 35%to1,100,035, compared to 841,496 filings during the sameperiod in 2008. A total of 1,117,771 bankruptcies werefiledlast year."
The spike in bankruptcy filings for both consumers andbusinesses reflect the continuing effects of today's weakeconomy," said ABI executive director Samuel Gerdano in astatement. "With unemployment surpassing 10% and credit tobusinesses remaining tight, consumers and businesses areincreasingly turning to the financial relief ofbankruptcy."Bankruptcies are at the highest level since 2005, when2,078,415 were filed before Congress passed amendments tothe Bankruptcy Code, said ABI.In October 2005, Congress implemented legislation making itmore difficult for filers to prove they should be allowedtoclear their debts in a Chapter 7 bankruptcy, forcing moretofile under Chapter 13.
The law triggered more Americans torush to file for bankruptcy in the months before the lawwent into affect.The ABI report said business bankruptcy filings rose 32% inthe third quarter of 2009 to 15,177, and filings for thefirst nine months of the year totaled 45,510, topping thetotal 43,546 business bankruptcies filed in 2008.Personal bankruptcies increased 33% to 373,308 during thelast quarter, led by a 42% hike in Chapter 7 filings, whichtotaled 265,721. The number of consumers filing Chapter 13bankruptcies rose 15% to 107,142 filings in the thirdquarter, according to ABI.During a twelve-month period ending Sept. 30 2009, thereport said total filings increased more than 34% to1,402,816, compared to 1,042,993 in the same period of2008.Your competition doesn’t know about this yet. You need to gohere and register:
When a homeowner that’s in foreclosure files bankruptcy, itimmediately stops the foreclosure process and it stops theforeclosure auction from happening even if the BK is filedthe day before the foreclosure auction. It’s very commonforhomeowners to file BK to stop the foreclosure auction sothey can stay in their house longer.
This only delays theinevitable. Sooner or later, they will be kicked out of the bankruptcyprocess and they will be back into the foreclosure process.There is a loophole in the system that we take advantageof.It takes 30 days for the property to be put back into theforeclosure process. That means they don’t go back onto the foreclosure list for30 days and they are very MOTIVATED to sell because thesehomeowners know they will be put back into foreclosure andthey will be kicked out of their house by the Sherriff. These 30 days are your window of opportunit*y to get allthese deals to fill your pipeline before anyone.
I’m going to show you that loophole and how to find thesedeals the day after they get kicked out of bankruptcy soyoucan get the deal before it shows up on any foreclosure listand before your competition knows about it. Register Here: http://www.dcfawcett.com/goThere is a huge opportunit*y right now with these dealsbecause number of bankruptcy filings in third quarter of2009 soars to highest level since 2005.
Businessbankruptcies filed this year top 2008 total.The total number of bankruptcies filed in the third quartersurged 33% in 2009 and is at the highest level since 2005,according to data released Wednesday.The American Bankruptcy Institute, an industry researchfirm, said 388,485 bankruptcies were filed during the lastquarter, compared to 292,291 filed during the same periodin2008, according to data released by the AdministrativeOffice of the U.S. Courts.Filings for the first nine months of the year climbed 35%to1,100,035, compared to 841,496 filings during the sameperiod in 2008. A total of 1,117,771 bankruptcies werefiledlast year."
The spike in bankruptcy filings for both consumers andbusinesses reflect the continuing effects of today's weakeconomy," said ABI executive director Samuel Gerdano in astatement. "With unemployment surpassing 10% and credit tobusinesses remaining tight, consumers and businesses areincreasingly turning to the financial relief ofbankruptcy."Bankruptcies are at the highest level since 2005, when2,078,415 were filed before Congress passed amendments tothe Bankruptcy Code, said ABI.In October 2005, Congress implemented legislation making itmore difficult for filers to prove they should be allowedtoclear their debts in a Chapter 7 bankruptcy, forcing moretofile under Chapter 13.
The law triggered more Americans torush to file for bankruptcy in the months before the lawwent into affect.The ABI report said business bankruptcy filings rose 32% inthe third quarter of 2009 to 15,177, and filings for thefirst nine months of the year totaled 45,510, topping thetotal 43,546 business bankruptcies filed in 2008.Personal bankruptcies increased 33% to 373,308 during thelast quarter, led by a 42% hike in Chapter 7 filings, whichtotaled 265,721. The number of consumers filing Chapter 13bankruptcies rose 15% to 107,142 filings in the thirdquarter, according to ABI.During a twelve-month period ending Sept. 30 2009, thereport said total filings increased more than 34% to1,402,816, compared to 1,042,993 in the same period of2008.Your competition doesn’t know about this yet. You need to gohere and register:
NAR - the decade in real estate
The National Association of Realtors (NAR) has put together a retrospective of the real estate market for the last decade. Notable developments: In 1999, buyers who went online in search for a home were in the minority – only 37 percent of buyers used the Internet in their home search. Today, 90 percent of buyers are searching online. Despite the current price declines, median home values over the past decade have increased more than 25 percent, from $137,600 in November 1999 to $172,600 in November 2009.
Fewer people are buying detached, single family homes – 82 percent in 1999 compared to 78 percent in 2009 – but more people are buying homes in suburban neighborhoods – 46 percent in 1999 compared to 54 percent today. Married couples comprised 68 percent of all home purchases at the beginning of this century but only represent 60 percent of all buyers today.
Single men and women have made up the difference – single men purchased 10 percent of all homes last year, compared to only 7 percent 10 years ago. Single women now represent more than one-fifth of all home buyers – 21 percent, up from 15 percent in 1999. Other things haven’t changed.
The median age for home buyers last year was 39, just as it was in 1999. Neighborhood quality, affordability, and convenience to work and school have consistently been top priorities for both past and present buyers. And eight out of 10 recently surveyed consumers believe that owning a home is an investment in their future. “... one constant during [the last 100 years] has been the persistence of homeownership as the American Dream,” says NAR president Vicki Cox Golder.
Fewer people are buying detached, single family homes – 82 percent in 1999 compared to 78 percent in 2009 – but more people are buying homes in suburban neighborhoods – 46 percent in 1999 compared to 54 percent today. Married couples comprised 68 percent of all home purchases at the beginning of this century but only represent 60 percent of all buyers today.
Single men and women have made up the difference – single men purchased 10 percent of all homes last year, compared to only 7 percent 10 years ago. Single women now represent more than one-fifth of all home buyers – 21 percent, up from 15 percent in 1999. Other things haven’t changed.
The median age for home buyers last year was 39, just as it was in 1999. Neighborhood quality, affordability, and convenience to work and school have consistently been top priorities for both past and present buyers. And eight out of 10 recently surveyed consumers believe that owning a home is an investment in their future. “... one constant during [the last 100 years] has been the persistence of homeownership as the American Dream,” says NAR president Vicki Cox Golder.
Home prices to fall in 2010
Home prices to fall in 2010 -
foreclosures comingFiserv Lending Solutions, a financial analytics firm, forecasts that prices will fall in all but 39 of the 381 markets it covers, with an average drop of 11.3%."We've seen recent price stabilization because of low mortgage interest rates and the impact of the first-time homebuyers tax credit," said Pat Newport of IHS Global Research. "But there are really good reasons to think prices will now start going down."
There are three main reasons for the reversal: a coming flood of foreclosures, rising interest rates and the eventual end of the tax credits. According to Gus Faucher, the director of macroeconomics for Moody's Economy.com, the huge number of foreclosures that remain in the pipeline is the big problem. In fact, Moody's upped its estimate of defaults recently because of shortcomings of the government-led mortgage modification programs. Trial workouts are not being made permanent and completed modifications are redefaulting at high rates. "There are going to be fewer [successful] modifications than we thought."
However, he says most of the price decline has already occurred and Moody's forecast is for only another 8% drop. The worst-hit markets will be the ones suffering the most foreclosures, places like Arizona, California, Florida and Nevada. Some analysts, according to Newport, also think rates for a 30-year mortgage will pass 6% next year as the government curtails housing market support. Finally, many economists see the end of the tax credit in April as a significant brake on home prices.
foreclosures comingFiserv Lending Solutions, a financial analytics firm, forecasts that prices will fall in all but 39 of the 381 markets it covers, with an average drop of 11.3%."We've seen recent price stabilization because of low mortgage interest rates and the impact of the first-time homebuyers tax credit," said Pat Newport of IHS Global Research. "But there are really good reasons to think prices will now start going down."
There are three main reasons for the reversal: a coming flood of foreclosures, rising interest rates and the eventual end of the tax credits. According to Gus Faucher, the director of macroeconomics for Moody's Economy.com, the huge number of foreclosures that remain in the pipeline is the big problem. In fact, Moody's upped its estimate of defaults recently because of shortcomings of the government-led mortgage modification programs. Trial workouts are not being made permanent and completed modifications are redefaulting at high rates. "There are going to be fewer [successful] modifications than we thought."
However, he says most of the price decline has already occurred and Moody's forecast is for only another 8% drop. The worst-hit markets will be the ones suffering the most foreclosures, places like Arizona, California, Florida and Nevada. Some analysts, according to Newport, also think rates for a 30-year mortgage will pass 6% next year as the government curtails housing market support. Finally, many economists see the end of the tax credit in April as a significant brake on home prices.
Flip properties to FHA buyers
1. Inability to Flip properties to FHA buyers (90-day holding period required - which means you gotta hold the property for at least 90 days before you can resell to your buyer).
2. Difficulty in assigning Short Sale or REO contracts to other parties (most banks won't allow it and only a handful of title companies do so).
3. Legally and ethically overcoming conventional lender seasoning requirements (once a lender says you gotta hold the property for a couple centuries before you can flip, you're toast).
4. Bank of America's "Item #10" that mandates 30-day seasoning (practically the same thing as #3).
5. Having a deal blow up if the end buyer misses the closing deadline by just a day or two (you'll end up with an unwanted property, which is a one-way ticket to migraine central).
Good thing we've found a way around all of these obstacles and we're prepared to spill the beans Wednesday, October 28th at 9pm Eastern.Now don't get me wrong,
REOs and short sales are still the hottest ticket out there...... the banks just got a little smarter.No worries though, because after this week's training session, you'll be smarter than any of them combined.You gotta hurry though, the call is filling up fast!
Maybe it has something to do with the fact that I'll have oneof our top lenders on the call who's got pockets 10-digits deep and who's willing to work not only with major players but with newbie investors too.Trust me, this is one contact you'll be glad to have once you're on your way to the closing table. Click here to reserve your spot now!Success and nothing less.Stacy Kellams
2. Difficulty in assigning Short Sale or REO contracts to other parties (most banks won't allow it and only a handful of title companies do so).
3. Legally and ethically overcoming conventional lender seasoning requirements (once a lender says you gotta hold the property for a couple centuries before you can flip, you're toast).
4. Bank of America's "Item #10" that mandates 30-day seasoning (practically the same thing as #3).
5. Having a deal blow up if the end buyer misses the closing deadline by just a day or two (you'll end up with an unwanted property, which is a one-way ticket to migraine central).
Good thing we've found a way around all of these obstacles and we're prepared to spill the beans Wednesday, October 28th at 9pm Eastern.Now don't get me wrong,
REOs and short sales are still the hottest ticket out there...... the banks just got a little smarter.No worries though, because after this week's training session, you'll be smarter than any of them combined.You gotta hurry though, the call is filling up fast!
Maybe it has something to do with the fact that I'll have oneof our top lenders on the call who's got pockets 10-digits deep and who's willing to work not only with major players but with newbie investors too.Trust me, this is one contact you'll be glad to have once you're on your way to the closing table. Click here to reserve your spot now!Success and nothing less.Stacy Kellams
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