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Did You Know…
Did you know that Real Estate creates more millionaire wealth than any other investment vehicle on the planet?
Did you know that now is very likely the easiest time in history to get in this business full time or part time, get rich in this business, and create long term wealth?
Did you know that the number of households in foreclosure increased 79 percent in 2007, with about one of every 100 U.S. households at some stage of the foreclosure process, according to the latest numbers from data aggregator RealtyTrac?
Did you know that there are some articles that say home sales are down over 50% in many areas and that people everywhere are having tremendous difficulty selling their homes because they owe much more than what their homes are worth. It seems like you can’t open the newspaper these days without seeing a story about how bad the real estate market is.
Did you know that the foreclosure process begins when a financial distressed homeowner fails to make a loan payment and is served with a summons from his or her creditors? Subsequently, papers will be filed with the county clerk’s office and made a matter of public record. This notice is usually known as Lis Pendens, which is Latin for “pending legal action.” At this point, any attempts by the homeowner to borrow from public credit sources will be met with a negative response. On completion of the publication process, the foreclosure action will be permitted to proceed and the owners have a limited amount of time to pay up, sell, or make other deals with creditors. If none of these actions are taken, a foreclosure sale will take place. If no one bids the amount owed at the foreclosure sale, the property reverts to the lender and becomes an REO (real estate owned) property held in inventory by the lender. Experienced foreclosure investors may work in all of these various stages, but the possibility of making a transaction with the homeowner is no longer possible after the property is an REO
If you’re reading this report today, you are probably someone who is hoping that doors will open for you in your life, your work, or your real estate investing business. You may feel like your life is pretty good but it could stand some room for improvement. You recognize that opportunities are out there, but the doors between you and opportunity won’t open. Why is that? Do you feel like you’re missing something, that maybe something is slipping through the cracks and keeping you from reaching your full potential? Chances are, this missing element may be more income and more time.
Perhaps you have never done a real estate deal in your life. Perhaps you don’t even own your own home. Perhaps you just started this business recently. Perhaps you are a seasoned real estate investor but are overleveraged and doing everything you can to avoid a financial crash. Perhaps you are equity rich and cash poor. Perhaps your credit is extended to the max.
Whatever your particular situation, did you know that there are some tricks of the trade that will help you move faster along that proverbial learning curve to reach greater levels of success. If you could learn to do a better job of tapping into your own potential, and stop making decisions based on conventional wisdom, how many cool doors of opportunity do you think may begin to swing open in your business and in your life?
What I’ve found, time and time again, is that the doors for success are always there and always waiting to be opened no matter where you live, what your life history is made up of, or what you have (or don’t have) in your bank account. If you’re like me, you weren’t born into money and wealth. And whether you choose to believe me or not, this is a good thing. At least it was for me, because I decided to take my life into my own hands and accept responsibility for my own actions indefinitely.
This type of mind set is not common in today’s society, and this is the exact reason why the majority of society is broke. Think about it, virtually everyone we’ve encountered throughout our entire lives is broke or slightly above broke. When we were born we were handed to a broke nurse, who handed us to our broke parents. We went to school and were taught by broke teachers. We got jobs and were hired by broke managers, and now perhaps you are a broke manager.
Don’t you think it is about time to break this cycle? I personally don’t want to see you dismayed by what is keeping you from a more fulfilling and more successful life. Whether you think you are ready for a change or not, now is the time to take your life into your own hands. The good news is, you don’t have to be born with this mindset, it can be taught. When the student is ready, the teacher will appear. Are you ready for change?
Life should be fun and challenging at the same time. If it isn’t yet, it can be. If you are looking for a new direction then perhaps real estate is the answer.
The decision that changed my life and the life of many others is the decision to become a real estate investor. It is a beautiful business that I successfully execute no matter what our economy is doing. I love cashing big checks like this one…
…who wouldn’t?
My favorite method for making money in real estate is by tapping into this huge foreclosure market that is all over the news.
Have you ever heard the term “Short Sale” before? If you have an interest in the stock market then you probably have, but I am referring to short sales in real estate.
A short sale is nothing more than buying a property from a seller that’s behind on payments, by negotiating with their mortgage lender in an attempt to get the lender to take a discount on the mortgage balance, rather than foreclose on the property. Again, it’s nothing more than getting the lender to take a discount so that you can buy the property from the homeowner at a discounted price.
So then what do you do?
Well, after creating equity out of thin air you then resell the property for more than the short sale discount and….MAGIC! You get a HUGE CHECK.
Ok, so how do you do it?
Great Question, here’s how:
The first step is finding the sellers. You’ve got to find people that are facing foreclosure. Easier said than done, right? WRONG! It is public information and you are entitled to this information for free. Heck, send them a letter and ask them to call you.
Step number two is, have a conversation with them and find out the specifics of their situation. You need mortgage information, house information, repair information, asking price, etc. Gather the facts.
Thirdly, meet with the seller and reach an agreement to purchase the house contingent on your ability to negotiate a short sale with the lien holders. Also, collect the paperwork that their lender asks for and then submit the paperwork to the lender with your offer.
Step number four is, following up and creating action from the lender. This step, aside from step number one, which is finding your leads, is probably the most important step of the entire process. You want the lender to give your offer serious consideration. So, follow up, wait, and follow up again.
Step number five is get written approval from the lender, close quickly, get a big fat check, and do another deal as quickly as possible without using any or your money or credit.
No doubt each step requires its own specific attention; however these are the primary steps to achieving huge success with foreclosures.
Investing in real estate should be done in a way that requires very little to no money out of your own personal pocket. It should be done with absolutely zero personal credit. It should be systemized to a level that requires very little of your own time. It should be structured in a way that requires no personal risk to you at all. And lastly the business should be conducted in a manner that maintains credibility, integrity and strives for win-win relationships.
Now, we all know that the foreclosure market is an extremely unfortunate situation, but it does create an easy opportunity to create a fortune. With the right knowledge virtually anyone can make huge money by turning people’s impossible situations into possible solutions.
Did you know that despite all the bad press and the negative views of the real estate market I made a pretty good fortune last year investing in real estate, and am making an even bigger fortune this year!
If you’ve ever (even for a millisecond) entertained the thought of investing in real estate – and making a tremendous fortune – when would NOW be the perfect time to learn more?
I want to know what your thought is on all this real estate talk. So turn off the late night and early Saturday morning infomercials and tell me about your goals and aspirations.
Management tips to keep you on track
If you want to be a good manager, you have to commit yourself to employee involvement, says Andy Grove of Intel in 1001 Ways to Energize Employees, by Bob Nelson. Here are Grove’s management tips:
• Create an environment where motivated people can flourish.
• Don’t take personal credit for what your team accomplishes.
• Take time to consider what you need to do today to avoid tomorrow’s problems.
• Keep in mind that your time is finite, and when you say yes to something it likely means you’re going to have to say no to something else.
• Schedule one hour every day to deal with things that will inevitably interrupt you. That way you can deal with them in an organized, planned way.
• Realize that performance evaluations are absolutely necessary.
• If you need information about what’s going on in your company, drop by unannounced and observe.
Realize that if an employee is not doing his job that there are only two possible explanations. 1. He can’t do it. 2. He won’t do it. To determine which problem you’re dealing with ask yourself whether the person could do the job if his life depended on it. If the answer is yes, then you know you’re dealing with a motivation problem. If the answer is no, what you’ve got is a lack of ability.
On speaking the truth
Speak the truth, but leave immediately after.
—Slovenian proverb
Get Creative
A simple way to start being creative is just to be open.
Being
Ontology is ‘the metaphysical study of the nature of being and existence’. This whole field of study considers what it is to be. We don’t just exist: we exist in external contexts in the world. We also exist in internal contexts, where our state of mind frames and changes everything else we perceive.
And the great thing about consciousness and human volition is that you can choose your ontological state. In other words, you can decide how you will be. This does not mean you can be happy 100% of the time just by deciding it. Deliberately being in any given state takes a degree of will and work. You can decide to be happy and, with enough skill and effort, be happy significantly more of the time than you would be otherwise.
A simple lesson
Warren Buffet is known to be a generous man. Recently he announced his plans to make the biggest single contribution to philanthropy ever made. But it’s also common knowledge that Buffet is generous in other aspects of life as well.
According to Bill George in Forbes (“The master gives back”), an MBA student from Kazakhstan was the recipient of Buffet’s giving spirit when the student attended a function at which Buffet was present but left his camera in the Berkshire Hathaway boardroom. The student wanted some pictures of himself with Buffet— and so, true to his folksy form, Buffet offered to give the student a ride back to the office to pick up the camera.
During the drive, Buffet offered some advice to the young man. Do what you love, he told him. He also revealed to the student that his personal goal was not to live like a king, and that he liked living a fairly simple life, simple meals and driving a regular car.
It was then that Buffet offered this nugget of wisdom: “Be a nice person … . It’s so simple that it’s almost too obvious to notice. Look around at people you like. Isn’t it a logical assumption that if you like traits in other people, then other people would like you if you developed those same traits?”
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