This section of the kit is where you provide a quick summary of who you are, what you do, and why you are worth doing business with. There’s no exact format for how to do this but I suggest some or all of the following components in this section:
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Allow me to cut straight to the chase on this one because this is a topic of conversation that is NOT discussed enough. I am a firm believer that you get to where you want to go 10x to 100x faster if you have a mentor/adviser/coach, etc within your circle of influence. Everyone should have someone that they can lean on and learn from to help them grow their business, their marketing, their self-esteem, their habits, etc. 99% of all the wealthiest people in the world have mentors, advisers, coaches (usually multiple mentors for that matter) that are in their circle of influence to make them better. AND, did you know that even the mentors have mentors.
These types of people are ALWAYS and I mean ALWAYS trying to make themselves and their business better. This top 5-10% of the population doesn
The Federal Housing Administration announced Friday that it is appointing a chief risk officer and making changes in its credit policies to make sure its reserves against future losses stay above a minimum set by Congress.
The FHA now insures about 5.3 million mortgages, up from about 4 million three years ago.
As of this summer, about 17% of FHA borrowers were at least one payment behind or in foreclosure, compared with 13% for all loans, according to the Mortgage Bankers Association. Rising defaults mean the FHA’s reserves may sink below the 2% mark required by federal law. The FHA says a study being sent to Congress in November is expected to show that ratio dipping below required levels for the first time.
The FHA acknowledged that a study that will go to Congress in November is expected to show the FHA’s capital reserve ratio falling under a congressionally mandated 2%.
It said the changes it is making would strengthen those reserves.
Real Estate Investor Coach Response:
I believe this is a good move introduced by FHA to appoint a chief risk officer to help minimize potentially shady mortgage operations that can go on to effect the entire market. There needs to be better regulation, but at the same time flexibility so that lenders can lend and borrowers can borrow! Easier said than done…
Real Estate News Overview: Take a look at the chart below and see how the Foreclosures stack up in your state: Real Estate Investor Coach Response: It's obvious that Foreclosures aren't going away any time soon and in my opinion I think that the housing market has yet to hit bottom. Don't take me as a pessimist, but rather a realist. There is still a lot of funky financial stuff going on out there with unemployment high and consumer confidence low. But don't let these statistics depress you, rather they should excite you, because if you know how to make money in foreclosures you can really rack up some serious cash and equity. Go make some money investing in real estate!
Median sales prices of new houses sold in July was $210,000.
In the Northeast, July's sales rate rose 32.4% compared with June
The South was up 16.2% compared with June
The West was up 1% compared with June
The Midwest's sales rate fell 7.6% compared with June.
The average rate for a 30-year fixed mortgage was 5.14%, up from 5.12% a week earlier.
The average rate on a 15-year fixed-rate mortgage rose to 4.58%, from 4.56% last week.
Rates on five-year, adjustable-rate mortgages averaged 4.67%, down from 4.57% a week earlier.
Rates on one-year, adjustable-rate mortgages were unchanged at 4.69%.
Real Estate Investor Coach Response: That's all the news that I've got for you on this beautiful Monday morning (in Lexington, KY). Not a whole lot of explanation, just some cold hard stats to start off your week. I think it is important to at least keep a pulse on what is happening with real estate around the country and I hope this quick blog post helps you do that.
Homeowners continue to struggle with their mortgage payment as unemployment remains an unresolved issue in the U.S. 13% of people who own a home are behind on payments.
The outset of this mortgage debacle started as a result of the subprime loans, however the shocking statistics are that of the conventional 30 year fixed mortgage homeowners being in default as a result of rising unemployment. One in three new foreclosures between April and June was from a prime, fixed-rate loan, up from one in five a year earlier.
Real Estate Investor Coach Response:
I do my best to keep these weekly news blog posts as fresh and relevant to you as possible, however sometimes the news just repeats itself. Clearly the bottom of the market has yet to be found, however as a real estate investor, I must reiterate that I could care less what the market is doing, because I know how to make money in good times and bad. With high interest rates and low. In a recession and out. With high unemployment and low. With a liberal President and a conservative…
So why am I telling you all this, to brag? No. I am telling you this to hopefully give you something to aspire to if you are new in the business of real estate investing. If you are ready to kick your business into overdrive then perhaps it is time to get a coach (me) to keep you fatten your wallet. Check out my coaching programs at http://www.RealEstateInvestorCoach.com/mentoring/
To be frank, the only time I review the news is to write you (my readers) this weekly blog post. The only news I watch throughout the week is ESPN news! Now that is news everyone should watch. And unfortunately I just found out that in the little league world series, KY (my home state) got killed on Sunday by Texas. I tell you what those young boys sure do eat their wheaties.
Sorry, I get sidetracked with two topics. Baseball and Real Estate Investing. Putting the two topics together with me kicks my ADD into overdrive!
One in 4 US homes for sale on August 1st had their prices marked down at least once since being listed on the open market.
Watch this short video about today’s Real Estate Investing News:
Real Estate Investor Coach Response:
To think that 25% of the listed homes on the market lowered their price is very powerful information. What are you doing about it? This is a great opportunity to request seller financing, or subject to transactions. This is still very much a buyers market, and it probably won’t be for much longer. I do believe that there is still probably a year before the market begins to show any signs of a turn around. Remember real estate investing is all about the MATH! You need to be making lots and lots of offers on properties. If you are not making offers, then you are not buying properties. These properties that are lowering their prices are perfect homes to make offers on.
To find out more about what is happening in your local area I highly recommend checking out the site: www.Trulia.com