So it has been 24 years since I entered the industry of Real Estate:
In the 80's, we were just coming out of double digit interest rates, 15-18%, ARMS were born in the early 80's, since most couldn't afford a fixed rate. Straight, no qualifing assumptions were BIG!
In the 90's, WOW! Building boom, rates down, FHA decided that allowing assumable mortgages wasn't such a hot idea. Several ownership changes, then a default, the an "I don't care!" from the original borrower.
In the early '00s, Boom again for everything, low rates, crazy appraisals, no-cash in the sales loans like 80/20s were the norm.
Around 2006-Obama, something else happened. The banks started to have a little problem collecting on some of those - "no questions asked" loans. Money got tight. Insurance companies started failing, since they also bought into those bad loans.
2007: Gold Star Referral Clubs is launch in the late Summer.
2008: Blinding flash of the obvious, we can teach others to start clubs, too! Members of the Clubs get referrals. Directors, those that start Clubs, get compensated, and can build a residual income from every Club.
2009: 16 states & Canada, positioning for Global Expansion
Do you need a referral group to make it through this crappy economy? Talk with us. Small investment can take your business to a higher level - because you'll receive "ready to do business with you" referrals from your Club!