short sale investing: 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)

short sale investing: 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)

short sale investing: 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)

short sale investing: 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)

short sale investing: 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)

short sale investing: 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)

short sale investing: 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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