Things I’ve Learned Along The Way from The Real Estate Sage at The Real Estate Investment Institute - reii.com

I Was Only Joking

William J Archambault Jr (The Real Estate Investment Institute ) — Thu, 02 May 2013 15:23:54 -0700

I Was Only Joking

I’m a big advocate of name plates and pins as my readers know. I tell salesmen to get out of the office and do what you enjoy, wearing you pin or name plate! Do what you enjoy with people who can become clients or send you referrals and be sure they know what you do!

In response to a question about how do you wear a pin to a nude beach I suggested a Tattoo! I was only joking! Honestly! I wasn’t serious! Even though I’ve written about it, it was a joke! I use to be part of a one line real estate group based in New York, I might have suggested the same thing their, but I don’t remember doing it. If I did I was only joking!

I don’t think I know any one from NY, NY’ Rapid Realty, but they may know me. I was only joking! But, look:

NYC Realtor Offers Employees Pay Raise For Getting Tattoo Of Company Logo I was only joking!

OMG, I remember I suggested to Rich Kruse in this forum that he use snakes for pest control. I was only joking!

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

Competence By Association / Borrowed Power

William J Archambault Jr (The Real Estate Investment Institute ) — Tue, 30 Apr 2013 14:26:23 -0700

I use to lecturer about "Borrowed Power" and an expansion on that "Competence By Association!" "Borrowed Power" was originally part of a Board orientation session urging new agents to start working on their GRI and what they could do in the mean time, the GRI takes at least 3 years. There is nothing new in borrowing power it’s simply a matter of perception! It’s leading people to believe you’re competent, until you open your mouth and prove otherwise.

"Competence By Association" it’s similarly being perceived by the company you keep. For many years I had coffee or breakfast every morning I was in town at a little hole in the wall restaurant every morning! Now normally I’d avoid such places, but this one had great food. It had one other attraction it was right across the street from the local court house and was filled with the most powerful attorneys in town. Stuffed in shoulder to shoulder everyone got to know and talk to everyone. Nothing I could ever have done opened so many doors.

Competence By Association / Borrowed Power is all about opening doors, about getting a chance to sell yourself! Just like your business cards, signs, ads and flyers. Real estate wardrobe, car And accouterments.

You can only borrow power or appear competent until you speak! If you can’t walk the walk or talk the talk all is for naught!

What brings this up, now? One of the saddest rants I’ve ever read on AR! Ranter after ranter with only a few exceptions claiming to be insulted by consumers vetting them. Good people all we’ve all read their blogs, unless they’re ghost written these are demonstrated competent people. Could they lack the self competence to face questioning? Could it be a lack of empathy? I don’t understand they make a great living in the people business.

Real estate buyers are about to trust you to help with the biggest investment of their life, so far. If selected you’re going to effect their lives and their children’s lives forever! I think they’re entitled to ask questions vetting any one they’re going to trust their life too!

Perhaps the problem of vetting agents comes from the fact that only the oldest profession has less stringent entry requirements than real estate. This can lead to a question of expertise, perhaps they’re afraid of having their expertise questioned? Don’t they know that the most important person in a real estate transaction is not the individual experts. But the professional that acts as ring master?

It all seems so alien to me. I spent four decades, eight lustrum more than 14,600 days seeking just such interviews! Give me 15 minutes with each of 10 potential clients and I’ll have 5 of them. Give me 30 minutes and I’ll have 7 or 8. Give me an hour and I’ll have nine and the 10^th will have decided not to buy!

You sell yourself to sellers, why not buyers?

God help the real estate consumer, obviously they need it.

I’m sorry if I offended any friends, but what are you afraid of? This is a serious problem!

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

The Trouble With...

William J Archambault Jr (The Real Estate Investment Institute ) — Thu, 18 Apr 2013 13:38:21 -0700

The trouble with TV’s talking heads and most salesman . Including me. I’m about to illustrate the very mistake we all make in unguarded moments. Why? Because I come from a long line of story tellers, talkers and a salesman or two.

I woke up early this morning to the news on TV for the next two hours the talking heads talked about Boston and West, TX. Rambling between babbles, making up facts and sudo-insight as they go. Capitalizing on tragedy, human suffering, devastating destruction, personal and communal distress. Expounding on the irrelevant and illogical, all to fill time. Chatter for it’s own sake! Finally! I tired of this drivel rolled over to find where Brenda hid the remote control. I found it, but it was so much fun I keep looking anyway! Then Brenda spoke she ask if it was time to get up. Caught I told her to go back to sleep, shut the TV off pulled some close on and went to the front room. Different TV same schmaltz!

It’s not that I can’t do such things, I don’t remember a time when I couldn’t. As a young man, when I first noticed girls were fun to be around such bluster was a shield, armor, protection from the deadly embarrassment of silence of nothing to say to a girl! Such puffery can by time, no salesman can survive without such balderdash, when the drive to the subject is just too long. Many a salesman use it to kill deals fearing the silence after asking a closing question, just like young men talking to a girl!

Such rhetoric can be used as a weapon when it’s liberally saturated with testosterone laced bovine droppings. I remember my first speech class in my junior year of High School, we had a new first year teacher, being a probe she also monitored a study hall mine! Board with work I could be doing in the school dark room I took out my pad of hall passes and filled one out! Before I could even tear it off the pad this little woman, who couldn’t be more than 5 or 6 years older than me grabbed the pad with one hand and my ear lobe with the other. In front of 150 students she proceeded to drag me off to the office stooped over I was 6'2" she was 5'. We arrived very unceremoniously into the principle’s office. As we barge in Jim Pello starts laughing uncontrollably finally asking what’s going on? The little woman explained she caught me filling out a hall pass and that I had even forged his name on a stack of them! Now Mr. Pello is a big man and when he laughs in that small office the windows shack, when he stopped he told her to let go of my ear! Shot number one, I told him that it was ok as long as she didn’t button her blouse. I got a little of my dignity back, but only the three of us knew. Mr. Pello handed me back my passes and told me he’d explain so I should go do what ever it was I had in mind.

About a week later we were to have a mid-turn test, we were going to draw a subject out of a bowl of paper slips and speak extemporaneously for as long as possible with out repeating ourselves. Janet Adams went first five minutes later it was my turn. The only thing I knew about the subject was how to pronounce it. I got one shot at getting even last week now I had 30 of the best students for an audience. My opening volley! I was still speaking when the bell rang! My second volley! She canceled the test. The next day when the bell rang I was at the podium again! By sixth hour 600 students and the entire staff knew every thing. I got called in to Pello’s office, he ask me to be nice, she’s never taught before.

It was about this time in history that Chet Huntley and David Brinkly expanded their network news from half an hour to an hour, they didn’t have any more news, but they had twice as much time to fill between commercials! They set a new standard, they did to the public what I did to that speech teacher!

Years later Ted Turner added those bovine droppings taking the same half hour’s worth of news and masticating it 24-7 like a cow chewing it’s cud! The battle to dumb-down America, the Broadcast Systems won.

I could schould have simply said:

As I’ve written: "When you’ve made the sale stop talking and get it in writing!"

Or, when you’ve told the story move on to another!

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

And A Good Time Was Had By All

William J Archambault Jr (The Real Estate Investment Institute ) — Tue, 16 Apr 2013 15:30:48 -0700

As many of you know last Wednesday, 4-10-13 we had an Active Rain gathering here in Houston Paula McDonald wrote about it in: A SWEET HOUSTON MEET UP! What I want to tell you about is the people,

Three of the attendees were not agents, but engineers! For several years I’ve been writing about FHA 203k, the loan program that finances "Fixer-uppers!" FHA 203k lets you buy a home and finance need repairs / up-grades / remolding exc.. With low FHA down payments and seller’s help with closing cost this is a great way to get the home of your dreams.

Steven Fairweather from Rectitude Home Inspection Services, RHIS, 832-398-3701 and Gerald Peece, PE, from EDP 281-416-9660 both specialize in FHA 203k pre-closing inspections and consulting. Like the appraisers these guys work to protect the home buyer and the lender! It’s hard to make a mistake with their help.

Sitting with us was Frank Previte an agent with Homebuyers Realty Co. 281-415-4004 who speaks 403k fluently. Frank is in Spring. In the Woodlawns is Paula McDonald from Chevaux RE, 936- 203-0279 she’s done 203k’s. Our friend Greg Nino, RE/Max West Houston 832-298-8555 and I didn’t get to talk beyond hello, but FHA 203k is good for sellers with fixers and great for selected buyers so I’;ve no question he’s into 203k’s.

I got to take Brenda who was sitting to my right!

As I said a good time was had by all!

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

Share The Rewards

William J Archambault Jr (The Real Estate Investment Institute ) — Fri, 12 Apr 2013 14:23:17 -0700

My friend Gary Woltal writes: “Put A Reward In Front Of You For Difficult Tasks“ Napoleon Hill wrote: "What the mind can conceive and believe it can achieve." Cavett Robert went further suggesting you post a picture of your goal, great suggestions all.

Setting goals and rewarding yourself is great advice, but have you considered that you are not alone in earning those commissions?

Commission income allows greater success than any legal other endeavor.

Commission income also requires more of you than most occupation and commission income requires more of your family than almost any other vocation.

With family in mind I’d like to add to those great suggestions. If you have a family at home living with commission income they too should be rewarded with each commission.

All the late night work, all the calls at home, all the messages carefully taken, all the shared stress should be rewarded! You endure it for the rewards, for more than just a basic living. Napoleon, Cavett and Gary are suggesting motivation beyond a basic living, you endure it for more than wages can provide the family does too, but they have no choice and no specific reward. I suggest rewarding the family with each commission! The family must know to keep quite when some one is on the phone, or visiting at the house. They must know how important it is to answer the phone politely and take accurate messages. They must understand all those things that lead to successful closings!

I suggest that in addition to any allowance you may provided for their needs, that you reward your kids with a commission with each one you receive. I’m not suggesting anything expensive, unless you’re Catholic or Mormon. I got away with $5.00 each for our two. Today $20.00 might be more appropriate! Starting young as soon as the concept of money can be understood. I suggest further that you open a saving account in their names and that you take them to the bank to cash their commission check and deposit half into their own personal savings account, explaining that you must save because you can never be sure when the next commission is coming.

The spouse takes a little more and I don’t recommend you make any suggestions about they do with it.

It doesn't take a village, but it can't be done without a co-operative family!

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

Free Short Sale Webinar - Tips that You Can Take to Your Next Listing

William J Archambault Jr (The Real Estate Investment Institute ) — Tue, 09 Apr 2013 10:08:07 -0700

I’ve done a few short sales, my first was as a banker making the decisions back in ‘71 or ‘72 then as a real estate broker acting as a true buyer’s broker saving under represented seller’s. I first taught "Short Sales" back in ‘76 or ‘77, I’ve written about it in at least two of my books.

I tell you this because I’ve had the wonderful opportunity to sit in on Melissa’s webinar they are simply the best single class on the subject available! Time well invested!

Bill

Via Escondido Real Estate - North San Diego County Homes, Melissa Zavala, Broker (Broadpoint Properties):

Now that we are over the fiscal cliff and into the sequester, it's time to pump up your short sale business for 2013!

You are invited to join usme this Thursday April 11 at 10:00 a.m. PST for a free short sale webinar.

What is going to be discussed? This webinar will review the latest programs offered by the short sale lenders and present tips and tools for mastering your next short sale listing appointment. Basically, it's just about everything you need to know about short sales in order to dominate in that next short sale listing appointment. With the tips and tools provided in this webinar, I'm hoping you'll get a whole bunch of short sale listings in 2013.

Who is leading the webinar? I am. I'm Melissa Zavala, a Broker in North San Diego County and a Short Sale Expeditor®. In 2012, my staff and I obtained over 500 approval letters for Realtors® throughout California.

While it may be hard to believe, there is an art to working the short sale. From taking the listing to opening escrow, certain techniques can be used to make the transaction move along more quickly and efficiently. And . . . if you have been anywhere near a newspaper or the Internet, then you know that short sales are a large component of the current real estate market share.

You and your colleagues are invited to this FREE webinar where you will learn more about short sales. We look forward to your participation!

Title: Short Sale Tips You Can Take to Your Next Listing Appointment

Date: Thursday, April 11, 2013

Time: 10:00 AM - 11:00 AM PST

After registering you will receive a confirmation email containing information about joining the Webinar.

System Requirements:

PC-based attendees Required: Windows® 2000, XP Home, XP Pro, 2003 Server, Vista

Macintosh®-based attendees Required: Mac OS® X 10.4 (Tiger®) or newer

Space is limited.

Active Rain folks really enjoy my webinars, and I'm always thrilled and honored by the presence of my Active Rain Peeps. Read what two AR Junkies have said about our short sale webinars:

Barbara Todaro's Review and Testimonial

William Archambault's Review and Testimonial

Aside from the webinars, here’s some other great stuff that I’m doing:

Melissa Zavala’s Next Speaking Engagement

Melissa Zavala on the Radio

Melissa Zavala
BROKER/REALTOR® ● CA DRE #01324959

BROADPOINT PROPERTIES, INC.
760.839.3838

Search San Diego County Homes For Sale | Search Riverside County Homes For Sale
Transaction Coordinator Services | Short Sale Expeditor Negotiation Services

If you enjoyed this post, why not connect with me in these other communities?

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

Good By To My First Love

William J Archambault Jr (The Real Estate Investment Institute ) — Mon, 08 Apr 2013 12:54:34 -0700

Good By To My First Love

Like so many boys my age my first love was an older woman. An incredible beauty. Not the slightest bit demure. Chaste in appearance and reputation and persona. In my youth we spent an hour ever week day after school with her and her friends. In my teens we spent many an evening at the theater or driven-in with her and Frankie or Tommy, even a monkey or two.

Today we say goodby to our wonderful Annette you made the world a better place. We loved you.

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

That Little Difference

William J Archambault Jr (The Real Estate Investment Institute ) — Wed, 03 Apr 2013 10:00:42 -0700

Every good salesperson is a little "cocky"!

They are a little arrogant!

They start a little earlier.

They work a little latter.

They drive a little faster.

They take a few more classes.

They offer considered opinions to help others.

They play a little less, but a lot harder.

They are a little more passionate.

They are a little more concerned.

They expect success.

They think they earned it!

They indeed have!

They know outstanding just takes a little more.

That's the little difference!

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

The Dumbest Most Costly Question In Sales

William J Archambault Jr (The Real Estate Investment Institute ) — Wed, 27 Mar 2013 14:03:07 -0700

Six and a half years ago I saw a comment on a blog, that advocated REALTORS® approaching lenders about short sale at the time they list the properties. Today, I saw a blog about splitting properties subject to a blanket mortgage, some one went to the bank before the listing. I can't imagine where such bad advice comes from. Never ask a lender about any settlement or release with out money in hand! Without a written offer if you ask the bank to make a decision based on "if-come-maybe" that’s both stupid and absurd!

I first posted this idea here on Brian Brady's blog A Realtor's Guide to "PMI & Short Sales"from 11-17-06. I’ve been preaching this since my traditional banking days in the early ‘70's. I’ve been teaching this since about 1975 when I presented it to Michigan’s CCIM’s and FLI. It’s nothing new I learned it from my Grandfather when I was very young!

This is not about "Short Sales" or release of collateral. This is about the most stupid question in real estate! "Wouldyatake?"

Wouldyatake, $147,500.00? Wouldya? Wouldya? I said would you take $147,500.00? NO!

I'm asking $163,000.00 not a dollar less! The would be buyer is stupid and the seller isn't much brighter. Yet, this is one of the most common exchanges in real estate, to understand just how down right stupid this is we need to remember an old joke and the movie it inspired.

The old codger approaches the young beauty and ask: "Wouldya sleep with me for a $1,000,000.00?" She thinks quickly and says "Yes!" He then says "Wouldyatake $20.00?" To which she indigently replies "What do you think I am?" He looks her in the eye and slowly says "We've already determined that!"

There is only one correct answer to the question "Wouldyatake?" and that is "Are you offering...?" Had the young Lady ask if the codger was making an offer, she'd have reviled nothing about her virtue or lack there of. But, we'd have established that the codger was also a lech.

It's the same in real estate if you say yes to "Wouldyatake?" with out an offer the offer will come in lower, if you say "No" you may never get to see an offer that you could have accepted or negotiate to an acceptable compromise.

Many agents believe that the sale price is always the most important term on a sales agreement, well it's not always true. If you play "Wouldyatakes?" you do your client a major disservice, and I don't care which side you're representing. You may force the seller into a corner from which there is no retreat!

It's the same with short sales or lien release no banker/seller/tax-authority/seller is going to commit to give up their position before there is an offer on the table, but they might say "No!" and that makes negotiating extremely difficult!

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

Self Flagellation

William J Archambault Jr (The Real Estate Investment Institute ) — Tue, 26 Mar 2013 18:03:56 -0700

We’ve all seen it in the news religious zealots marching in mass flailing themselves over their shoulders, did you ever wonder about their day jobs?

Many, probably very many are selling real estate. Real estate agents even great ones wipe themselves regularly. It’s bad enough when confined to the office bull-pen or the coffee shop, but it’s totally unprofessional in public or print!

The real estate crisis of the last lustrum has caused even some of the best agents to forget their position and even the law. Flogging themselves within view of the public, bemoaning realty and defying logic.

If it wasn’t for the respect I have for some of these self-flagellationest I could write them off. But, it’s years of frustration compounded by the ignorance of the masses! Is it any surprise that any one of us could rant so inanely?

I’ve been reading about agents complaining about banks limiting the commission on short sales. The latest rant accused the banks of interfering with the business relationship between broker and sellers. Complaining about the banks limiting the broker’s income. It’s understandable, but absurd!

To begin there is no interference with the listing contract! Broker and seller can contract for any thing they agree on. One has to question anyone who would contract with a seller who can not deliver a clear title and doesn’t have the means to pay the agreed on fee and then complains when the bank refuses to pay it.

The idea that the banks are limiting the broker’s income is absurd, the banks are paying the brokers increasing the bank’s losses. Every dollar paid the broker in most short sales comes out of the banks pocket, it’s a real loss from equity not profits. Who’s limiting who’s income?

A new rant along the same line accuses the banks of price fixing for setting their own price on their REO’s! This one is seething with illogical frustration. The banks own their REO’s that’s what REO means Real Estate Owned. Who among us would argue that seller’s shouldn’t be allowed to set their own asking price, no matter how il-advised?

I mentioned the law, real estate agents learned not to talk about their rates with other offices back in the 1970's back then two agents talking at lunch, one says to the other what do you charge? The guy says 7% and the other says you should come to our office we charge 8% was and still is enough to cost both offices millions. The FTC may not currently have a burr under it’s saddle, but the law hasn’t changed! I’d be very reluctant to talk or write about price fixing.

Forget flagellation! Try an old prayer:

"God, give us grace to accept with serenity
the things that cannot be changed,
Courage to change the things
which should be changed,
and the Wisdom to distinguish
the one from the other.."

Amen.

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

It’s A Matter Of Style / Some Of Us Are Still Brilliant

William J Archambault Jr (The Real Estate Investment Institute ) — Sun, 24 Mar 2013 14:48:53 -0700

It’s a matter of style.

Do you criticize or educate when dealing with others?

Do you negociate or submit offers when you get them?

Do you act like a real estate professional or a professional prevaricator?

Do you criticize or educate?

I got involved in real estate education in 1973 because my broker didn't approve of me banging agents on the back of the head. Board rules frown on violence.

By putting on monthly seminars I could address a third and some times half the Board at a time, making negotiating much easer. It mattered not if I’d educated the other guy or he and his broker knew me by reputation.

Active Rain offers us the opportunity to educate like none before.

Unfortunately many an sloth takes the easer route, the road to medoriticy.

Do you negociate or submit offers? The pragmatists in all of us almost demands we fax or e-mail offers to the listing broker no matter how unprofessional. But, in the event your offer is not accepted, do you then negociate or exchange demands?

Personally, I'd like to suggest that if you don't come to agreement on the first submission that you try face to face negotiating with the buyer's agent meeting with the sellers and their agent!

Assuming that your differences are sincerely held beliefs negotiating is easier when you educate, when one side is wrong as apposed to criticize.

Educating can be as simple as having well prepared comparables. If the seller believes there is a higher and better use of the property, be prepared with either zoning and/or cost estimates for the changes suggested.

Clients, both buyers and/or sellers are normally convinced that their ideas are right, to change their ideas you're going to have to gently educate not demand they prove their point. That's not to say that asking: "How did you arrive at the price?" Is wrong in fact it's a great starting point, the more you can find out about the sellers position the less you have to teach.

Do you criticize or educate? It makes no difference which side you represent. You should teach facts! The seller has to have this much or that’s all the buyer can pay, if true can be facts to be shared during negotiating.

Do you criticize or educate? Educators close more sales! Educators enjoy life more!

The choice is your's! Educators close more deals! Misery loves company whiners, beggars and critics gain lots of sympathy.

Educating takes more work and requires you to be right, but it pays better and you'll feel better.

It’s a matter of style. My friend Jon Zolsky thinks many have lost that style, I don’t agree! It’s just that we hear from so many who would rather make excuses. We Used To Be Brilliant

It’s a matter of style!

This is nothing new I posted most of this on 9-9-09.

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

Thoughts About Selecting Agents and Loan Originators

William J Archambault Jr (The Real Estate Investment Institute ) — Tue, 19 Mar 2013 13:45:05 -0700

I was watching an old movie and reading (I almost never just watch TV.) When the recurring the song got my attention. The song or at least the chorus which they keep repeating.

An old "B" western (Best film from 1956.) The tale of an old battle with the Indians (American Aborigines) the set in Palo Duro Canyon and Durango, Mexico, I had to watch! I’ve toured Palo Duro Canyon on horse back, it was the last time I rode being 6 weeks after I smashed my leg. Despite the scenery I keep hearing that therm song.

My readers know what I except from Loan Originators as I posted in May or 2007 Stone Tablets / Bill's Rules For Loan Rep's Then in June of 2010 I addressed both LO’s and Agents in Stone Tablets Or An Etch-A-Sketch.

I’ve written extensively about selecting both LO’s and Agents in my books, but nothing is as simple as that chorus singing in my head this morning.

I’ve Googled the song, the writer and the movie searched YouTube, but I can’t find the entire song or any veido, sorry.

The movie was "Comanche" staring Dana Andrews. The theme song preformed by "The Lancers" was written by Alfred Perry.

The haunting refrain, that works so well when choosing an Agent or LO:

"A man is as good as his word/as good as his word is he/and if he is as good as his word/he's good enough for me"

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

Eclectic Thoughts On Housing

William J Archambault Jr (The Real Estate Investment Institute ) — Wed, 13 Mar 2013 14:47:45 -0700

I don’t like houses with out covered front porches!

Homes should have a front porch at least 6 to 8 feet wide and twice as long. A place where your callers can get out of the weather. A place where you can step out and talk casually or even sit with your callers. I love wrap-a-round porches.

I don’t like most bathrooms!

Bathtubs should be relaxing! What idiot came up with the idea of putting the tub so that you’re stating at the commode?

Worse! Where you’re seated at eye-level next to it! Krappers should be out of sight from the tub!

I like faucets and the drain over the side in the center! Center controls are easer to reach and give you options!

I like separate showers! Big enough for two in the master bath. Bigger in Utah?

I like bathrooms with heated tile floors. Carpeted bathrooms are the product of a conspiracy between carpeters and carpet cleaners to create more business.

I don’t like truly open floor plans!

I love separate family rooms!

I love eat in kitchens!

I love formal dining rooms!

I love formal living rooms!I love open communications! Small homes with a single "Great Room" are a great idea for the budget minded for cabins. But, of what use is a formal dinning or living room if they are not separated for sight and sound?

I love pocket doors! Pocket doors can provide all the benefits of an open floor plan and quickly offer all the blessings of a more traditional more formal home.

I don’t like stupid windows/window-placement!

Bedroom windows should be placed so that furniture fits. Bedroom windows should not be straight across from the neighbors.

Bathrooms with out windows or with low windows. Bathroom windows should be nipple high or facing privately . If private bathroom windows should be down to tub leveal.

I don’t like Low level windows that can be easily broken into.

I love bay-windows.

I don’t like cheap doors!

I love French-doors, there is no place they won’t be better than sliding doors.

I don't like hollow core doors transmit sound and always feel cheep!

Closets at least in the master bedroom should have solid doors with a key lock there are just some things that should be locked up! Solid doors with locks also proved safe-room benefit for the kids rooms!

Entree doors and their frames should be un-bustable!

Garages should have a door!

I don’t like short basements!

I like basements with at least eight foot six clearance and large windows so that they can be finished if desired.

I like basements with a second stairs to the garage, provide the stairs and garage have security doors.

I don’t like flimsy stair rails.

I don’t like houses with direct access to the outdoors.

I like vestibules including an entry closet in front and access to the formal living room or family areas, provided they’re closeable.

I like mud-rooms at the back entrance.

I like french-doors leading to a patio off the kitchen.

I like retractable patio covers.

I don’t like basement laundries!

I like laundries on the bedroom level.

I don’t like houses where when yo sneeze the neighbors say gesundheit. Worse when the kids nock and asking what you’re doing and those neighbors giggle!

If you’ve read this far find me a house!

Oh! I want it on five wooded acres. I want it on the end of a culdesac. I want to finance VA with the seller paying all cost. Close enough that the kids can come over, but far enough that they call first.

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

13 Days of Glory

William J Archambault Jr (The Real Estate Investment Institute ) — Wed, 06 Mar 2013 12:41:27 -0800

Faced with tyrannical oppression, a small grouped of armed civilians changed the world! Using arms equivalent to individual military weapons and a scarce few artillery pieces, with only limited ammo these brave men sacrificed their all to change their world and our’s for the better and to protect their love ones.

Just over 100 years later in the ghettos of Warsaw civilian with just 6 guns held off an even bigger force for much longer.

We know they both lost, but they changed the world for us. Were they any more dead than they would have been if they had not resisted? I think not! Are we better off for their noble sacrifice? I think so!

Remember the Alamo! The Alamo fell on this date in 1836. Antonio Lopez de Santa Anna prevailed, but the good won! It has to remind you of a similar death by an oppressive tyrant that lead to victory for all that the victim believed in, that anniversary will be here soon.

Remember the Alamo!

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

Somewhere Between Diapers And Kindergarten

William J Archambault Jr (The Real Estate Investment Institute ) — Sat, 23 Feb 2013 13:24:23 -0800

Somewhere between diapers and kindergarten we were taught to shake hands. Early on it was considered cute, Mom or Dad would say shake and out would come our hand just like "Teddy" our Chow-Chow extended his paw, often at the same time.

Somewhere between diapers and kindergarten ou

r Parents went from announcing: "That's Billy our oldest!" to introducing us "John this is my son Billy, Billy this is my co-worker Mr James."and we'd shake hands

. Wow! We were no longer accouterments. We were now people!

"Hello, I'm Bill Archambault"

Slowly, shaking hands became away/a part of saying hello and/or goodby.

We learned to offer our hand to men and to wait for Ladies to offer their's first. It was just the way it was done. Kids were another matter, if we were introduced by an adult we shook hands, by another kid we were all happy if our eyes met ever so briefly. An exception was if we were in dress clothes, we always acted like adults.

At some point we discovered girls felt different and we started shaking hands with them as often as possible.

By high school a firm hand shake was the norm.

Somewhere between diapers and kindergarten

we set the standard for the rest of our lives. Simple, innocent, warm, and caring reassuring human contact.

I worry about people today. Somewhere between kindergarten and adultery, adulting,, adultering, adultrating, life many have lost one of God's greatest gifts, simple, innocent, warm, caring and reassuring human contact. Something that can’t occur fist-bumping.

It's bad enough when Joe Paycheck never touches anyone with out a lustful, felonious or contrived intent, but many salesmen have forsaken such practices.

We except people to trust us with their financial futures, nay their very lives, yet many never touch. Sad, very sad indeed!

Human touch is the most reassuring thing know to man or beast. Human touch allays doubts and fears in man and beast. It's something that's been known by all since the beginning of time. Michael Anglo portrayed it best when he painted God touching Adam giving him life. God understood, he made man, mate instead of spawning.

At a time when we can "reach out and touch someone" anywhere in the world there is very little real, warm touching of the people just across the desk from us.

At a time when cynicism runs rabid salesmen can il afford to lose this simple skill!

As a REALTOR® or Loan Originator once you've found the prospect nothing before closing is as reassuring as a warm firm touch.

No touching commutates better than welcoming and parting handshakes!

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

Forgotten Professionalism Possession Is Negotiable

William J Archambault Jr (The Real Estate Investment Institute ) — Wed, 20 Feb 2013 13:29:12 -0800

It’s a sad time we live in. Having lived through the boom time of the 1990's and early 2000's so many have forgotten or never learned what we once though of as basic professionalism. I don’t fault those with less than 20 years experience, I blame their brokers! Then again many maybe most of today’s brokers don’t have 20 years experience. So many agents and brokers only have 6 months experience many times over.

Least We Forget Possession Is negotiable ! When I came west from Michigan I was shocked to learn that possession is excepted to pass at closing. I knew closings get delayed and sometimes blow-up! I found the idea both un-civilized and a grave violation of my view of the listing agents fiduciary to the seller. The only thing worse is possession before closing!

Many, if not most, sellers can't afford temporary housing until their home closes, let alone move out then have the sale fall through. Temporary housing while waiting for another buyer is an unthinkable/unaffordable horror! Those selling short or desperate to sell may lose there only opportunity as vacant homes don’t show as well as occupied ones.

My students always negotiate a week to 30 days after closing for the transfer of possession and include contractual safeguards.! Yes, I know all the problems that delayed possession can cause, but before you holler remember where you fiduciary lies, remember those safeguards.

Moving before closing is insane! But, possession is negotiable! Don't mistake local practice with law. Realtors® don't forget who you represent.

Sellers ask for what you want, demand only what you need!

Buyers don’t forget, possession is negotiable and valuable! Make your offer more attractive request some thing reasonable, demand only what you must have.

Most importantly Agents

Possession is valuable! Often extremity valuable. I’ve had offers accepted as much as $10,000.00 below the competition because we gave the seller time for a controlled exit! Think about that when hopping to buy a short sale, the seller can’t get any money, but a week or more could make your’s the best offer!

Possession is valuable! I recently wrote about starter homes, when Brenda and I bought ours we agreed to the seller retaining 6 months possession. 3o days possession was the norm then so we collected 5 months prepaid rent at closing, at $500.00 a month that was $2,500.00 that the bank recognized as additional down payment.

Today’s Conforming lenders might let you get away with one month, but never more than two. FHA and VA will never accept more than one months delayed possession. Not all lenders are Conforming lenders and I’m not talking about sub-prime lenders. There are still portfolio lenders, make sense lenders! Most Portfolio lenders are local state banks, state S & L’s and local credit unions although many are Conforming lenders, you’ll have to research your local market.

Carpe Diem!

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

Not All Airplanes Fly At Mac Speeds

William J Archambault Jr (The Real Estate Investment Institute ) — Sat, 16 Feb 2013 02:43:35 -0800

Not all airplanes fly at mac speeds, not all homes are priced in fractions of a million!

I’ve been watching MTV real estate again, I find their agents appalling, but the real estate fascinates me! That’s what ties today’s subjects together.

Since most of us remember best what we hear last let’s start by talking about airplanes. Without a jet or even a turbo- prop our beloved little bright-blue and white Cessna 150 cruised at 112 mph indicated. Yes, I know a mac number can be determined, but I don’t want laughed at. It wasn’t expensive, it wasn’t fast, but it carried Brenda, I and Eric in his car seat in the back, where we wanted to go. There were many who dismissed our little two seatter suggesting we should have waited until we could afford a real plane with at least 4 seats, but we were flying at 24 they weren’t! Most never have.

At 22 in anxious anticipation of our pending nuptials Brenda and I had bought our first home. A stately old place built before the turn of the century with 5 bedrooms and two baths, reduced to only one bedroom a kitchen, formal diningroom, parlor, and formal livingroom. You see the second story had been converted to an apartment. I’d just bought Brenda an engagement ring so I gave the seller what cash I had left, a purchase money second mortgage and six months possession for a down payment and financed the rest with a new first mortgage.

We took allot of flack from those that thought we should have waited and saved for years so we could have a new single family track home! Our home could have been priced as a fraction of a million or even as 1/5th of a $100,000.00, but...

By and large our single friends went back to their parents home after school or rented as a group living as depicted later in a movie called "Animal House" they weren’t saving either like so many today. Our married friends were either renting or worse. They talked about saving for a single family home every two weeks on Friday evening and always concluded maybe next payday.

Why had I risk what savings I had? Why had I committed to two mortgage payments? Why were we going to have other people living upstairs. Why?

What risk? I had enough resolving credit available to get me through 6 months if the absolute worst happened. I was in a career position on a salary so I could budget my expenses.

Two mortgage payments, two! We had to live some where and the payments were less than rent for a far smaller apartment. We up graded the apartment and re-leased it on a years lease. The new tenets paid all, but $50.00 of the two mortgage payments. Our cost each month was $50.00 plus the unities, far less that the rent and unities I’d been paying. Savings can be replaced.

Board at home alone in a new town Brenda knew I wanted to fly so she went to work and bought me an airplane. That’s how I found myself at 25 a young bank loan officer with a wonderful wife, a new born son, and a home of my own. A very fast truck and a not so fast airplane with just enough savings to change careers and sell real estate.

What’s the relevance to what was doable 42 years ago? It’s doable today!

If you watch TV or read the posted listings here on Active Rain you’d believe starter homes start at 1/4 million dollars jump to ½ million then a million and a 1/4 and are still being sold as first homes. First time home buyers are in their mid to late 30's, having rented for 7 to 20 years.

It’s a sad time we live in!

We seem to have forgotten the dignity of the starter home!

I financed my way into investment sales selling starter homes and duplexes at a place called Washington Square, a pre WW II neighborhood. Those homes sold for $8,500.00 to $20,000.00 in the mid 70's. The buyers often had little more than a dream and a need, but they knew the dignity and opportunity of a starter home!

Those in the know then as now will tell you that selling starter homes is more work for less money!

Those in the know will also tell you that things are bad compared to what they use to be and their income isn’t what it was.

Let me tell you what TV won’t! If you’d spend the time you have because it’s harder to sell today than it was, the time you spend complaining, the time you spend chastising those with so little self respect they’d sell $80,000.00 cheapies you'd learn selling three of them pays the same or almost as any 1/4 million dollar home!

There is no dignity in failing! The salesmen you laughed at, the ones you criticized will have the last laugh!

On a positive note: Those couples you sold a started home will be back to buy their dream home a lot sooner than those still saving to start with a dream home.

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

©William J Archambault Jr ©The Real Estate Investment Institute ©REII

Eclectic Advice

William J Archambault Jr (The Real Estate Investment Institute ) — Tue, 12 Feb 2013 10:56:27 -0800

I’m not an attorney.

I’m not a CPA.

I’m not a tax adviser.

I’m not a financial planner.

I’m not a financial adviser. Well, never deliberately anyway!

What I am is a well trained mortgage lender and REALTOR® trained by the best. I’ve been in the field since 1969.

With that understood I still find myself being ask questions that truly belong to those in more specific fields. Why would people ask their Loan Originator or Real Estate Agent such questions? Because few people in all but the highest income brackets have such individual advisers. Because in today’s real estate market the Loan Originator is the only person that sees the buyer’s entire financial position.

It’s a rare REALTOR® today that will look at anything more than a pre-qualification or pre-approval letter before trying to sell the biggest investment in the client’s life! This is not a condemnation, but rather a blunt statement of facts.

Some of us trained in a different time.

So what would make me risk offending my readers by pointing out that they are not what they never claimed to be? Last week I was talking with a young couple 41/36, remember I’m 64.

My friends have been a couple for over 7 years now, childless by choice they are not married like so many of their generation, not to mention our Gay and Lesbian friends. They are as loving, committed and financially intertwined as any well married couple and assumed they had the same benefits.

What follows is some of what we talked about. Mind you this is just one man’s eclectic advice!

I was appalled to learn they had no Wills! They just assumed that if anything happened the other would just go on. They said their families knew how they felt, but failed to consider their families were all older and may proceed them! They are the proverbial unknown rich aunt or uncle who leaves everything not by choice, but by law to someone they never knew or worse! All this while leaving their mate out. Every one needs a will, especially unmarried couples. You say you have no relatives well then the properties escheat to the state, the estate will of course give your mate an hour or two to move out! The state will also dispute every thing your mate claims as there’s.

As I said they are intermingled financially so I ask about the vesting on there joint checking and savings accounts! In the event of ones demise those accounts could be frozen and lost to your mate! Vesting can vary from state, I suggest you check locally to be sure that your accounts provided for the right of survivorship!

Your cars are a similar problem, but there can be good reason to keep them separate, talk with a local attorney. Be sure that both of you are named of every insurance policy your insurance agent can help you with this.

Vesting is also extremely important for all your investments.

As long as we were being morbid I ask about "Living Wills" they didn’t have them! "Living Wills" allow the person of your choice to make medical decisions for you. It’s not only decisions, but you may not even be allowed to see each other in some cases with out them.

We got started talking about investment real estate, they ask how they should hold it, vesting. I suggested that each property should be held in a unique LLC with the LLC being owned by a well planed trust. Again this can vary from state to state, get local legal and tax help!

Your investment real estate will of course be insured separably. I suggest you get an additional huge umbrella-policy covering all your properties! Only flood insurance is cheaper for the coverage. Even vacant land needs insured! Get a great agent licensed in your state.

Remember! You’re a real estate agent or Loan Originator all you can do is ask leading question and suggest what your clients ask their Attorney, CPA, Financial Adviser, Insurance Agent or Tax Man about!

Attorneys are like real estate agents and loan originators just because they are licensed doesn’t mean they have any experience or expertise in your field. You want a real estate attorney with a Masters in taxation.

A tax preparer is not a CPA and CPA’s do specialize.Get the right one!

If you’re talking with a Financial Advisor that sells Stocks and Bounds, Insurance or Gold they’re a wolf in sheep’s clothing not an advisor, but a salesmen!

From my point of view your fiduciary doesn’t require you to be an expert in any field. It’s not necessary to know the answers, but rather the questions! Your fiduciary requires you to ask the questions and make sure the client gets the answers!

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

Some Things To Contemplate

William J Archambault Jr (The Real Estate Investment Institute ) — Sat, 09 Feb 2013 09:29:25 -0800

Some things to contemplate in life, real estate and self defense.

"The world is a dangerous place to live; not because of the people who are evil, but because of the people who don't do anything about it." Albert Einstein

It is not evil that’s to blame for the harm that becomes us it’s the enablers!

Things happen in life because we allow them. Our only defense is to be prepared and aggressively cope. Two and a half years ago I wrote: National Slumps Are Statistical / Personal Slumps Are OptionalAbout real estate, but it applies to life. We are only victims if we enable evil!

It’s the same in real estate! With out the professional education and understand we became so busy point fingers at each other that we nearly let evil political expediency destroy us.

Evil happens to individuals not because of guns, but rather because we allow it. There is no government agency responsible for protecting us. Police and the courts try to discourage and punish the perpetrators of evil, but they can do nothing to protect the victims. When we disarm the lawful we only enable evil. Evil doesn’t need a gun they get to pick their victims. Evil attacks only when it has the advantage. Potential victims have no such option they have to be prepared and able to protect themselves from evil large and small and unexpected.

Other relevant Einstein quotes:

"Anyone who has never made a mistake has never tried anything new."

"A man should look for what is, and not for what he thinks should be."

"Learn from yesterday, live for today, hope for tomorrow. The important thing is not to stop questioning."

Read more at Eienstein quotes:

http://www.brainyquote.com/quotes/authors/a/albert_einstein.html#f98cTvQRXX8IPY8C.99

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

A Sales Lesson From A Strange Old Source

William J Archambault Jr (The Real Estate Investment Institute ) — Tue, 22 Jan 2013 13:15:01 -0800

The year was 1964 as a high school sophomore I lived with my parents. My basement bedroom gave me lots of privacy and the room next door was converted to my darkroom. I had bought a black and white television set at an estate sale, the huge thing had a round tube squared off on the top and bottom it weighted a ton. I got 3 channels 3! I had hung it to the ceiling over the foot of my bed. I had cut off it’s speaker and had wire running to another next to my head board and one more to my darkroom so I could fall asleep listening to Johnny Carson or listen on the many nights spent in the darkroom.

I tell you this because I probably heard or saw this show live. I don’t remember it, but stumbled over today on YouTube.

There is a great sales lesson in here, you’ll know it when you hear it. I missed it at the time, but while I sold allot of photos and regularly sold ponies I didn’t consider myself a salesmen. (The neighborhood kids loved me, their parents felt differently. For the record if you want to sell a pony let a local kid name it, teach him to ride it and then announce you’re selling the pony, works every time.)

Little did I know 4 decades of sales were in in my future. So back to the future:

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

I’ve Got A Problem

William J Archambault Jr (The Real Estate Investment Institute ) — Tue, 08 Jan 2013 11:29:11 -0800

"I’ve got a problem"

If a friend or acquaintance said to you "I’ve got a problem" you almost smile before catching yourself, and carefully expressing concern. Admit it we all have problems! Most of us don’t talk about our problems, so when someone admits a problem we’re a little pleased that their problems are worse than ours.

"...And I Could Use Your Help!" Oh, my! The Ladies clutch their purse a little tighter, the men squeeze their butt together either to symbolically hold their wallet or hopping to feel it’s still there. Admit it.

No matter how compassionate we are it’s comforting to know other’s have bigger problems than we do.

You won’t admit it, well then why do we take such comfort in the old saying "there but for the grace of God, go I?" "I have a problem" gets our attention because it’s comforting!

No matter how compassionate we are "I could use your help" also gets our attention! How much is it going to cost me? How much time is it going to take? How much work is involved?

"I have a problem... and I could use your help," are powerful words especially when followed with a request for help.

If your request involves neither money, time, or labor the people will be so relived they feel almost obligated to help.

"I have a problem." I’ve gone five paragraphs and not mentioned my services. "I have a problem and I could use your help" to recruit bird dogs (people who refer distressed home owners to me) and to request referrals for my mortgage/real estate services. I’ve been in lending and real estate in one form and/or another since 1969, and I’ve never met anyone who ever bought a house repeating someone else’s words, like a parrot. But, I’ve never found any phrase as powerful as those ten little words. "I have a problem... and I could use your help."

I wish I could tell you I though this up. I took it from a motivational speaker, Art Fettig, twenty-seven years ago. Art credits someone else, and I’m sure it goes on and on.

These words will invoke strong emotions from the people you address. I wrote Art (we talked twice over twenty-nine years ago, the story is in "One House At A Time" because I credit his tapes and books for motivating me to finish my book, I included an example of how I used "I have a problem" was the only thing he saw, his answer was quick, short, and terse, there are few thing you can say that always invoke such strong emotions. I wrote Art back suggesting he reread the letter, and then got a very nice letter from a great man (www.artfetig.com.) "I have a problem" works.

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

Opportunity Abounds 2013

William J Archambault Jr (The Real Estate Investment Institute ) — Fri, 04 Jan 2013 20:49:24 -0800

Opportunity Abounds 2013. I had a great experience for an hour last week. I logged into AR and saw a comment from an old friend left just eight minutes earlier. I called him. We spent the next hour talking real estate.

We talked about opportunities in the coming year, we talked about still falling values on homes and investment properties.

We both believe in buying real estate for it’s benefits! When you buy for benefits those benefits continue even if market value dwindles.

Think about it! You buy the home you love it shelters you, your family, and pets! It’s a great place to entrain friends. You bound with the neighborhood and neighbors. It makes you feel good! You bought for those benefits! No matter what happens to it’s market value the benefits go on!

The political mountebanks continue to manipulate the market devaluing our homes, but no matter what the current value of your home the payment remains the same, it remains what you agreed to and the benefits remain.

Remember the magic of amortization! Remember the property will be yours, free and clear exactly as you planed!

Remember: amortization: There's A Light At The End Of The Tunnel Remember: amortization: A PFD For Under Water Home Owners

My friend and I discussed investment property, commercial space and apartments. Apartment rents have not gone down. Commercial space is going to see a resurgence, it may well take longer to rent, but prices are low. If you buy for the benefits it’s hard for even the most inept to lose. The benefits go on.

I pointed out there is money available, just not the LTV’s of our recent past. My friend prefers paying cash, syndicating if you don’t have enough to do it yourself! I prefer well selected leveraged properties, but my friend’s syndication has allot of advantages. A well planed syndication allows you to bring in expertise you many not have personally.

We’re totally agreed there is opportunity in today’s real estate, SFR as homes and rentals, apartments and commercial space!

Opportunity Abounds!

As Kipling said:

"If you can keep you head when all about you are losing theirs... If you can talk with crowds and keep your virtue,
Or walk with kings-nor lose the common touch,
If neither foes nor loving friends can hurt you;
If all men count with you, but none too much,
If you can fill the unforgiving minute
With sixty seconds' worth of distance run,
Yours is the Earth and everything that's in it,
And-which is more-you'll be a Man, my son!"

Happy New Year!

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

You Can Be Seen On The Phone

William J Archambault Jr (The Real Estate Investment Institute ) — Thu, 03 Jan 2013 13:58:39 -0800

You can be seen on the phone, I remember something I learned early in my sale career, one very simple thing that I believe really helped my sales. Something so simple that we forget it.

How to make a better impression on the phone. Add a mirror behind your phone! The Westdale company kept a mirror behind the phone in each on call room to remind you to smile each time you reached for the phone. I added one to my phone at my desk in the bull pen and my desk at home.

Smiles can be heard. Smiles can be seen over all, but the worst of phone connection. We all have bad days and bad moments they are the most likely time to get a call, smiling before picking up the phone drastically improves your image, your tone of voice and your closings!

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

Gotcha Gotcha Again

William J Archambault Jr (The Real Estate Investment Institute ) — Wed, 02 Jan 2013 17:01:08 -0800

Gotcha Gotcha Again!

My friend Bryant Tutas posted The Mortgage Forgiveness Debt Relief Act Has Been Extended it’s a good post, but is the extension good publpc policy?

For as long as I can remember we’ve taxed any portion of the principal portion of a loan that is forgiven. It’s a simple idea if you borrow $100.00 and then the lender forgives $50.00 you have $50.00 in income! We tax income so the $50.00 should and has been taxed. Is there any thing fair about you paying taxes on your hard earned income and a dead beat not paying taxes for stealing it from a bank by conversion? Gotcha!

This incongruity is a double blow to tax payers! Not only does the treasury (our public funds) not get the $5.00 to $19.50 in forgiven taxes on that ill-gotten gain, but we normally lose the rest of it because most mortgages come back to us. Another friend, George Souto posted: The Battle Continued between FHA & Fannie Mae/Freddie Mac Which includes this link: Fannie Mae/Freddie Mac have lost billions of dollars Gotcha again! Those loans that don’t end up in government hands come from your Parents, your Grandparents and your savings! Gotcha personally!

On the other hand if you’re one of the 3 to 5% of home owners that qualify it’s a good thing. Go for it, I would. Just don’t kid yourself, you got us and the purpatraitors got your vote.

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

Looking Back On The Eve Of A New Start

William J Archambault Jr (The Real Estate Investment Institute ) — Mon, 31 Dec 2012 16:14:56 -0800

A Long, Long Time A Go in a place I use to know there lived a tribe of Friendly Bankers. They opened their doors at 10 each morning and closed promptly at 3. But, if you knocked on the back door by the big free parking lot you could get in after 8:15AM or until 5:00PM. The head teller always keep his drawer in a separate little safe that he could access any time in case you need a few thousand before they opening or before he went home.

A Long Long Time A Go you always went to the same teller, she worked full time. She knew 9 out of 10 of you by name, she knew your spouse and your kids. She probably went to your church and was a member of the PTA. Even if she didn't have kids you'd see her at all the high school games rooting for the home team and she'd talk to you about it when you came in, even months later.

Up three steps from the main floor was officers row. A Long Long Time A Go they were real loan officers, they could and did make decisions right before your eyes! If they couldn't do what you wanted they'd offer alternatives or call a competitor to see if they could help.

You were only a stranger once on officers row. Once they knew you they would take you to the front and introduce you to the Chairman as our newest client.

If they saw you on the main floor they'd wave if they had time they'd be down to say "hello, is there any thing I could do to help?"

Yes, they were friendly A Long Long Time A Go. They funded opportunities in good times and life in bad times. You were family.

You were different too! You treated your debt like you owed it to your favorite uncle. Most really did because your uncle keep his saving there and had bank stock in his retirement portfolio.

It was a good time. A very good time. A Long Long Time A Go!

A Long Long Time A Golocal banks loaned out local money Your Parents savings, your Grandpa’s retirement account and times were good.

Times are different now. Most of the local banks are gone. Then Fed declared most of them insolvent. This came as a surprise because they were making money hand over fist up until their assets were arbitrarily devalued. Then the Fed's sold the local banks to out of state behemoths. The local banks never took bailouts, the behemoths never turned them down. The behemoths sold their loans to Fanny Mae. Freddie Mac, and Ginny Mae, they don’t care about the community depositors of borrowers there people are anonymously elsewhere.

Not So Long Long A Go. Congress formed what they called The Resolution Trust Corporation to redistribute the wreath of the "Comfortable" and Joe Paycheck's retirement accounts to the supper rich. The Resolution Trust Corporation decimated the local Saving and Loans and the so called "Thrifts"taking even state licenced institutions.

That was 1989. Today we have the same thing Look back only 4 years to Chuck Shumer's unprecedented attack on IndyMac! Look at how a sound institution floundered by a bank run and how the assets ended up with a new bank "West One" owned by Chuck's friends with billions guaranteed by the taxpayers.

It's not a fairy tail, it is a horror story,but there is hope! There are still a few life friendly bankers they are not extinct only endanger!

You have to hunt for them! It takes work! Friendly Bankers are indigenous to small local institutions, mostly State Charted, and local credit unions.. Like hunting deer in a forest they are hard to see in the trees, but they're there. Most of our needs can be met by the smallest of the lot! The local Credit Unions!

Look for local portfolio lenders with real loan officers, not loan originators or the more popular clerks. Do your part! Open a savings or checking account today, with a local institution! Use it enough to let them know you're alive.

I wrote most of this two years ago hopping to show that you still can get old fashion service and care. As we embrace the new year I wanted to remind you that there is hope, you can experience friendly bankers if you look hard enough!

The choice is your’s. Happy New Year!

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org Cell 832-259-7078, Houston 832-582-8415, Las vegas 702-516-1569

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.