real estate gurus: What, They Turned Down My Offer? - 03/12/08 12:41 AM
Have you had perfectly reasonable offers declined by banks and lenders?  I sure have.
Richard Geller has written a blog post that is one of the most succinct I have seen about this subject.
I highly recommend that you check it out at
I hope you find it useful.
Yours in Success,
Dick Weiss
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real estate gurus: Where Did All My Business Go? - 03/11/08 07:26 AM
Chances are your real estate investment or brokerage business is not the same as it once was. The real estate business has always been a very cyclical business but it is really changing rapidly these days.
To succeed in today's business environment you need to be very flexible. A died in the wool conservative business person will probably find themselves floundering. This is a time for entrepreneurs to step up to the plate and hit home runs.
The mindset of a typical entrepreneur is geared to handle a rapidly changing business environment. They realize that the rules are not set in stone and … (0 comments)

real estate gurus: Day Late A Dollar Short or What Do I Do Now That I Missed The Boom? - 03/05/08 09:20 PM
My last entry covered a bunch of information on how to use your IRA to participate in real estate investing. But, isn't the boom over. No one will invest in real estate in this market.
Well, guess what, the real boom is about to begin.  Our illustrious Forth Estate, the media, is still kicking the mortgage crisis, foreclosures, soaring gas prices, etc.  They are doing this because bad news sells papers.  People love to hear about other people that are in worse shape than they are.
I am starting to see some interesting movement in the real estate market here is South Florida.  … (5 comments)

real estate gurus: Short Sales - 5 Ways To Play By The Rules - 02/19/08 10:49 AM
Who do you thing makes he rules when you are doing a short sale? The banks make the rules and you have to play by them. They write them and they can use them against you. But, do you know the rules?
What do you think is going on with the loss mitigator you are speaking with? What do you think is going through his mind?  “I am way too busy to deal with you. I don’t care if you are the President of the United States. If I here one more complaint from you, your file is going to the … (1 comments)

real estate gurus: Foreclosure Investing - So, How Is Business? - 02/13/08 09:55 PM
I sure hope that it is booming. If it is not you need to sit back and take a good look at both your business and marketing plans.If you are involved in real estate investing, and I assume that you are, this is a perfect time to be an investor. With all the market turmoil and the general negativity being published by the media opportunities are everywhere.Your negotiating is being done for you. Your customers know things are bad because they have been told so by TV and print media. All you need to do is get in front of them … (3 comments)

real estate gurus: Rescue Me Take Me In Your Arms...... - 02/12/08 01:06 PM
Talk about something being an oxymoron. The Feds have done it again and are proposing a a new rescue plan called “Project Lifeline”. Their plan is to let six of the biggest banks, Bank of America Corp., Citigroup Inc., Countrywide Financial Corp., J.P. Morgan Chase & Co., Washington Mutual Inc. and Wells Fargo & Co. — all members of the so-called Hope Now Alliance over see the plan. Talk about letting the fox in the hen house. See this article
This bunch are the same people whose greed and over site brought on the mortgage crisis in the first place. … (3 comments)

real estate gurus: Foreclosure Investing - Finding Your Sweet Spot - 02/09/08 11:14 PM
Foreclosure investing is a lot like tennis and golf in that tennis racquet's and golf clubs both have sweet spots and so does your real estate investing business.  Hitting the ball on the sweet spot maximizes your results.  Finding your sweet spot in real estate investing will help to maximize your profits.
To find your investing sweet spot you need to understand and monitor your local real estate market.  Even in the worst markets things are selling.  By carefully following sales you can determine the sweet spot for price, location and housing type.  It is critical to your business that you do … (5 comments)

real estate gurus: Hello, I Am Your Friendly BPO Agent And I Am Here To Help You. -- Maybe! - 01/23/08 07:51 PM
As I mentioned in the previous post, you should arrive about 15 minutes before the person who is going to do your BPO. There are several reasons for this. First, you don’t want to keep them waiting for you and you don't want them going through the property by themselves, particularly if the seller is at home. Secondly you want to observe them to determine the personality type you will be dealing with.
BPO agents basically come in three flavors. The first and rarest type is the really friendly BPO agent that will ask you where you need the price to … (9 comments)

real estate gurus: Investing In Foreclosures - Short Sales -Influencing the BPO - 01/19/08 08:20 AM
Well enough of Chicken Little. I do love to digress from time to time.
Influencing the BPO is the single most important factor in getting your short sale accepted. As a professional real estate investor, you must meet the appraiser or broker at the property. You need to learn how to manage the appointment. Above all remember, the number that the appraiser submits will determine if your offer will be accepted.
You need to realize that the person evaluating the property may not know the reason for the evaluation. In fact many appraisers will assume that the property is being considered … (2 comments)

real estate gurus: Why BPO's Are Critical To Foreclosure Investors - 01/07/08 01:04 AM
BPO? what language is that.  Actually it stands for Broker Price Opinion and it is the key to foreclosure investors successfully completing a short sale.  Of all the pieces in the short sale puzzle, the BPO is one of the most critical to the foreclosure investor.  It will usually determine your success or failure in the negotiations. You can be the greatest at finding foreclosure and pre-foreclosure prospects.  You may put together the most beautiful short sale packages in the history of the planet.  However, if you do not fully understand the entire BPO process your chances for success are extremely … (3 comments)

real estate gurus: Utlizing Short Sales in Pre-Foreclosure Investing - 12/23/07 12:50 PM
The longer I work in the foreclosure market the more I am astounded by the degree of success that the mortgage industry had in removing most of the equity form home in the U.S.  The amount of money that was injected into the economy though refinancing of existing mortgages and the generation of new highly leveraged mortgages is unbelievable.
As a result almost all prospects that you encounter in pre-foreclosure have little to no equity in their homes.  Therefore, the only way to create equity is through a short sale.  What was once a rarely used technique is not commonplace. 
In … (0 comments)

real estate gurus: Becomining More Productive In Your Business - Simpleology 101 - 12/20/07 07:25 PM
For many years I have worked on many personal improvement programs and time management programs.  I have never found one that produced the results of Simpleology 101.  In the three weeks I have been doing the program there has been a remarkable improvment of my productivity.  Twice as much is getting done in half the time.
The program was put together by Mark Joyner, one of the Internet's true geniuses. What is even more remarkable is that Simpleology 101 is completely free. 
The course is 40 days long and requires that you do it every day.  If you want to take your … (3 comments)


Richard Weiss

Port St Lucie, FL

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My thoughts and hints on foreclosure investing and using short sales to create equity



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