real estate investors: Is It True, "The Times They Are A Changin'"
- 04/03/08 11:09 PM
Bob Dylan wasn't wrong back in the sixties and once again the "times are a changin". Markets are in a turmoil and turmoil will create opportunity for the observant investor. Your business plan needs to be both dynamic and flexible for you to maintain a success in this business climate. We have concentrated on foreclosures and short sales for some time but are beginning to encounter some challanges in this market. The proliferation of short sales has jammed up the short sale process with the servicers and lenders. Consequently the time it is taking to successfully consummate a short sale is growing. The amount of … (0 comments)
real estate investors: 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 http://www.mortgagereliefformula.com/03/11/can-you-really-sell-your-house-in-nine-days/trackback/ I hope you find it useful.
Yours in Success, Dick Weiss Subscribe to my Free Newsletter at http://www.whoisdickweiss.com … (0 comments)
real estate investors: 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 investors: 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)
Most BPO agents will not reveal the value that was submitted to the lender but if you wait two to three days and contact the BPO agent to check if they need anything else, sometimes you can get a number. If you do you will be able to have a very clear idea of what sort of number you can negotiate with the lender. It is always worth a shot. After about 4 days contact the lender and see if the figures have been submitted. This is crunch time!! … (1 comments)
real estate investors: Hello It's Me My Name Is....
- 01/28/08 08:52 PM
The BPO agent or appraiser has showed up and you were there to greet him. If the owner is going to be present during the BPO make sure that they keep a low profile and stay inconspicuous. You also need to coach your Seller that if the BPO agent contacts them directly to get access, the Seller should refer them to you and your office only will schedule the appointment. You need to impress your seller about the importance of this appointment and its purpose. It is also imperative that you set the Sellers expectations with regard to the BPO. Be … (1 comments)
real estate investors: Where's The Money
- 01/25/08 12:27 PM
This has been a really strange week. My partner and I have been really busy and as a result I have neglected my blog. For this I apologize. We have been busy with some really good REO deals and the reason I am writing this post is to see if any of my readers out there may have some money they are interested in investing for a short term deal. We have purchased a really great deal and our usual funder is currently out of cash and we are racing around looking for funds to close this deal by Feb 21st. It … (0 comments)
real estate investors: The Decline And Fall Of Practically Everybody...Except Foreclosure Investors (cont.)
- 01/09/08 09:58 PM
In the last four to five years the mortgage industry has done a phenomenal job removing a huge percentage of the equity from the American housing market and converted it into three things. Vast amounts of cash, a huge quantity of very poorly underwritten loans and an enormous number of relatively worthless homes with negative equity. Here lies the gold. It is waiting for you to stake your claim and start to mine it. These "worthless" homes that everyone is complaining, about represent an amazing opportunity for the well educated foreclosure investor. The owners can't wait to get rid of them. They … (0 comments)
real estate investors: Foreclousres Filings Up 93% - The Numbers Are In!
- 12/16/07 12:22 AM
Finally the November foreclosure numbers are in and they make it clear that if you are going to invest in real estate over the next several years you better get really good at foreclosure investing and short sales. According to foreclosures.com in the first 11 months of 2007 over 1,082,000 homes entered the foreclosrure prcocess nationwide. This is an increase of 93% over the same period in 2006. They also said that over 526,000 ended up back in the hands of the banks. That figure was up 41% The fact that REO's were 52% less than the foreclosure filings indicates that more people … (0 comments)
real estate investors: Buying Forclosure Property - "Subject to"
- 12/13/07 09:55 AM
My favorite method to purchase foreclosure property is "subject to" the underlying mortgage. This method works even better if you don't have to bring the loan current but are able to get the seller a forbearance agreement or better yet a loan modification from the lender. If you do this it does require that the seller give you full cooperation to fill out the extesive paperwork necessary to do a forbearance and it also takes considerable time. The real life scenario, as opposed to that of the real estate gurus and seminar junkies, means that the person in forclosure wait until about 5 days or less before the sale to call me and tell … (1 comments)
real estate investors: Foreclosure Investing - How to Buy Homes In Foreclosure
- 12/10/07 11:15 PM
Thinking about buying a foreclosure and getting yourself a property at 50% of market value. You had better think again. What you need to realize as foreclosure investors really make their money not only through price but how they purchase the foreclosure property. Remember you make money in foreclosure investing when you buy property and realize those profits when you sell it. There are numerous ways to buy property from people in foreclosure. The first one we will deal with is one of my favorite methods. This is purchasing a property "Subject to" the underlying mortgage. By utilizing this method you are … (5 comments)
Bob Dylan wasn't wrong back in the sixties and once again the "times are a changin". Markets are in a turmoil and turmoil will create opportunity for the observant investor. Your business plan needs to be both dynamic and flexible for you to maintain a success in this business climate.;)
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