Archive for July, 2009
Vacation message from Josh…
Friday, July 31st, 2009 | Uncategorized | No Comments
I’m writing you a short message as I sit here breathing in some
warm ocean air down in Naples…
Listen – this is a very important message about some very important
stuff. If you agree with me when I say that “without a doubt the
internet is the world’s most powerful marketing tool” then you NEED
to click the link below and see what my friend Greg and the Realeflow
team have going on right now.
Many of you have already gotten access to this ground-breaking
report on Internet Marketing, but if you haven’t yet you are
missing out…
You’ll be able to download a 72 page report which will give you
no less than 14 critical fixes to your internet (website) marketing
problems. It’s clear, concise and is ready to be put into action.
To Your Success,
Josh
P.S. Greg has a concept to share with you next week called the
Property Launch Formula. It’s only relevant if you want to sell
your houses faster than it takes to pull off a one week vacation…
Best Endorsement Video
Thursday, July 30th, 2009 | Uncategorized | No Comments
I wanted to try out our new intern and gave him the project of creating the best endorsement video out of all of the ones that we have and this is what he came up with. Take a look and let me know what you think by commenting on this post.
Nathan Jurewicz has been one of our top Master’s Elite Students and I am very proud of his accomplishments in the Short Sale Industry. He has been a friend of mine since 2004 and joined our program in July of 2007 and since then he has had tremendous success. In the video at our last Vegas event we had over 250 active Real Estate Investors in which he gave the secret to his success.
Changes Coming to HVCC
Tuesday, July 28th, 2009 | Uncategorized | 3 Comments
If you read blogs and keep abreast of what’s going on in the real estate industry, then no doubt you’ve seen the consternation caused by the Home Valuation Code of Conduct (HVCC or the Code) that was enacted this past May by Fannie and Freddie.
They put a code in force made sense, at least to me. After all, if anyone thinks that the last ten years were a hallmark of honest and accurate appraisals untainted by the demands of lenders, borrowers, and brokers, please give me a call: I have a wonderful dream house in a crack neighborhood in East Cleveland for sale.
The Code stipulates that Realtors and mortgage brokers are prohibited from selecting appraisers. Lenders may use “in-house” staff appraisers to conduct appraisals; however, loan production staff are prohibited from selecting, recommending, or influencing the selection of an appraiser. Moreover, they are prohibited from having a substantive conversation with and appraiser or appraisal management company (AMC) regarding the appraisal assignment.
AMCs seem to be a good fit because they act as a third party.
For the consumer, the appraisal process is basically the same, although there has been criticism from the National Association of Realtors (NAR) that the appraisal process takes longer and is more expensive.
The NAR has made big push for an 18 month moratorium on the Code, to address their concerns. While some concerns expressed by the NAR have merit, from their perspective it seems as if everything wrong with the housing market is the fault of the HVCC. Appraisals are coming in low; lenders are taking too long to do deals, costs increased –– it’s as if these issues only started once the Code was enacted in May!
People who had gotten fat and happy in the good ole’ days when telling an appraiser where “the house needed to come in at” were upset. Good.
But the NAR has brought to issue two flaws: 1) the tendency of appraisals to be completed by appraisers unfamiliar with the area; and 2) the inability of agents to talk to appraisers.
This week, Fannie and Freddie issued new guidance to all lenders concerning the HVCC to address these issues:
1) Lenders should use appraisers who have clear experience in the geographical area of the subject property.
2) Clarifies that appraisers are not prohibited from talking to real estate agents
And then there is a third issue, one that needs to be addressed by the States. Apparently there is a lack of regulation over AMCs and the quality of the services they provide. The NAR is pushing hard on this, and they may have a point. It’s just strange to see an organization that values, no relies, on the free market suddenly become advocates for more regulation for an industry they don’t like.
If the goal of the HVCC is to strengthen appraiser independence while improving the evaluation process then Freddie & Fannie seem to be on track.
Form more information, see:
http://www.fhfa.gov/webfiles/14611/hvcc_NOTICE_7_22_09F.pdf
Sell Real Estate with the Right Mind-Set
Monday, July 27th, 2009 | Uncategorized | No Comments
Preparing yourself mentally to meet with clients sets you up for success. Keep your thought processes positive and focused. Go over any notes you made while conversing with the client on the phone. Keep in mind that you are trying to figure out why they are selling their home so that you can use their motivation to your benefit. Some things you should go over in your pre-call thought processes are:
- Their family structure
- Their background and job history
- Who are the decision makers? They are your key leverage. You should focus on their reasons for selling the property and use those hot-buttons to show them that it is in their best interest to sell their home to you.
- Determine what they plan to do after they sell. Rent? Move to another house?
- Make sure they really want to sell and aren’t just making a superficial effort, but deep down really want to stay.
- Are their emotions elevated to a high stressful level due to divorce, relocation, sickness, death, or work?
- Why are they selling, and what made them choose this specific time to sell?
- What are their other reasons for selling that they may not mention to you like disagreeable neighbors, starting over, evading foreclosure, or saving their credit?
- What scripts will be the most useful to use with the client?
- What exit strategy will you plan to use? Buy & quickturn? Buy & hold? Buy, fix, & flip?
- Be ready for questions they may propose to you, like how you make your money.
- Know what objections they may be likely to have, like a 1099 / Deficiency Judgment, wanting to sell with a realtor, or bankruptcy and know how to answer them.
Anticipating the questions you will need to ask your clients during appointments and what questions they may ask you will ensure that you don’t get flustered by an unexpected question and lose confidence by not knowing how to answer it. So, use a pre-call checklist, and stay relaxed and assured to seal the deal.
Close a Sale Every Time: Have a Pre-Call Checklist
Friday, July 24th, 2009 | Uncategorized | No Comments
Having a checklist secures that you are all set to sell in an expertly coordinated fashion. Using a pre-call checklist also helps you keep you mind confidently fixed on closing the deal, rather than feeling unprepared and doubtful. Lacking preparation and a check list will cost you sales that could have ended successfully.
Here are important things your checklist should include:
- A Power Point
- Have a few notes on what your opinions of the customers are. This helps differentiate clients and in keeping track of the ones that are your prime leads because after a while appointments may start to run together in your mind.
- A Presentation Booklet
- A Simple Calculator
- A Camera
- Locations and available hours of local notaries
- A Property File which should include: the property’s sales history, tax data, and five to ten comps (have two that are active, two that have been sold, and two that are currently listed).
- Have a list of the short sale documents that you will be needing from them like tax returns, bank statements, mortgage statements, and such.
- A Property Info draft that you may have filled out on the phone.
- All the paperwork that you will need to close the contract, like an affidavit, bill of state, P&S agreement, and notice of option.
- Tax values
- Directions to the house
- Tools for approximating how much rehab will cost.
- Testimonials
- Proof of your credibility
- Prior MLS listings of the property, which should also include pictures.
- Media coverage of the Real Estate trends in that area.
- Supply and Demand data
Laws differ in some states, which may have an affect on what you will need. Generally, the items you will need for any pre-call checklist remain about the same, though.
Navigating the Short Sale Jungle Replay and Digital Book Release
Tuesday, July 21st, 2009 | Uncategorized | No Comments
Good afternoon. Hope you had a great weekend.
I am sure you heard by now but Jeff Watson turned the real estate investing world on it’s ear with the release of his last special report “The Death Of The Land Trust” a little while back.
Now he’s at it again. Go to his new blog and get your copy of his free special report, ”Navigating the Short Sale Jungle: How to Legally and Profitably Invest in Pre-Foreclosures in 2009.” The replay from Thursday’s training call is there too.
Get it now…
http://www.TopShortSaleLawyer.com/
You should know Jeff is not only a practicing attorney but also a very active real estate investor. He’s the go-to-guy other trainers call on when they have ANY questions regarding real estate investing law. It’s easy to see why Jeff is considered America’s Top Short Sale Attorney by his peers.
In this report you’ll discover…
>>>What “material facts” need to be disclosed to the seller and buyer to avoid fraud.
>>>What disclosures are REQUIRED and NOT REQUIRED to give to the end buyers lender.
>>>The “danger” of double escrows.
>>>How to completely eliminate potential “fraud” from your closings.
>>>What constitutes and “ARM’S LENGTH” transaction and how to avoid working in the “gray area.”
>>>Why every decision made by the foreclosing lender is driven by money and how to capitalize on their greed.
>>>The most misunderstood concept for realtors who do short sales: Fiduciary duty.
>>>How to avoid “conflicts of interest” to keep yourself out of a “sling” or the “SLAMMER.”
>>>Understanding the rules of negative equity and how to profit legally and ethically from it.
>>>Essential facts of bankruptcy: when they should and shouldn’t and how it can make or break your closings.
And much more!
When you grab this special report, be sure to check out Jeff’s new blog – it already has a ton of valuable information and articles you can access immediately. You just have to make me one promise. After you read Jeff’s new report, leave him a comment on his blog about the digital book. He wants your feedback on it.
Check it out now…
http://www.TopShortSaleLawyer.com/
To your success,
Josh Cantwell
P.S. Jeff could easily sell this special report for at least $97 but it’s yours at no cost. Thousands have already downloaded the special report since just last Wednesday when it was released. What are you waiting for? Go. Go. Go…..
Get it now…
http://www.TopShortSaleLawyer.com/
Tips for Investing in Real Estate
Friday, July 17th, 2009 | Uncategorized | No Comments
Investors who’re reaping the advantages of the real estate market aren’t just lucky or smarter than you. They are masters of their art. They have the right mind-set, the right knowledge, and the right skills. There’s nothing keeping you away from the abundance of the real estate market, but yourself. Everything they know, they learned – and you can too. Here are some tips to help you on your journey to becoming a skilled real estate entrepreneur:
- Determine the part of town where properties sell fastest and where you get the highest amount of re-sells. These are flat-out your number one priority, always.
- Divorcing couples are a great source of leads; you just have to know how to handle them. Do not rely on them communicating with each other. The last thing they want is to have any kind of contact with each other what so ever. You need to do it for them. Get them on the same level by helping them realize that you are taking a load off their shoulders. The faster they agree upon selling – the faster they will be free from one another.
- When speaking to a prospect who keeps making excuses or objections when you are trying to set an appointment date, delay. Delaying gives them a bit more time to think and gives you a bit more time to persuade them that they would be making the wise choice in meeting with you. Deflect their resistance with an authoritative stance, without sounding too aggressive or pushy. Don’t sell on the phone, though. When on the phone your goal is solely to arrange appointments with qualified prospects.
- Steer clear of ending up having to pay late mortgage payments after closing a deal by asking the client if they are current on their mortgage payments and can verify this.
- If you get a call when you don’t have your scripts with you, kindly tell them you will call them back. It’s very important to always use your scripts, you have them for a reason. Don’t improvise.
- If you have suspicion that a piece of property is not in good selling condition, set the appointment for a couple days ahead. This gives you time to drive by and have a look at the property. If you deem the house in inadequate condition to sell, you can cancel the appointment.
- Preparation instills credibility and credibility increases closings. So, first and foremost, always prepare.
America’s TOP Short Sale Attorney LIVE Tonight!
Thursday, July 16th, 2009 | Uncategorized | No Comments
Join me and Jeff Watson on a live training class and Q&A call TONIGHT!
The webinar is Thursday, July 16th at 8pm EST, 5pm PST.
Register now…
Click Here to Register
We just announced this call yesterday and our lines are next to full. If you want to get on this LIVE training call I highly suggest you register now at the link above.
Jeff is considered the industry’s TOP Short Sale Attorney and the “go-to-guy” when big name “Gurus” have questions regarding anything real estate investing related.
Not only is he a practicing attorney, but a VERY active real estate investor. When it comes to the legal side of real estate investing, especially in this fast changing market, Jeff is the authority!
There’s no cost to join us. We’re doing this to celebrate the launch of Jeff’s new blog and release of his groundbreaking special report. (You’ll hear more about both on the call.)
Tonight you’ll learn…
>>>How to make more money than ever while following “all the rules” and “doing it right”
>>>What “material facts” need to be disclosed to the seller and buyer to avoid fraud.
>>>What disclosures are REQUIRED and NOT REQUIRED to give to the end buyers lender.
>>>The “danger” of double escrows, how to do it the right way and get paid handsomely for it
>>>How to completely eliminate potential “fraud” from your closings.
>>>What constitutes and “ARM’S LENGTH” transaction and how to avoid working in the “gray area.”
>>>Why every decision made by the foreclosing lender is driven by money and how to capitalize on their greed.
>>>The most misunderstood concept for realtors who do short sales: Fiduciary duty.
>>>How to avoid “conflicts of interest” to keep yourself out of a “sling” or the “SLAMMER.”
>>>Understanding the rules of negative equity and how to profit legally and ethically from it.
>>>Essential facts of bankruptcy: when they should and shouldn’t and how it can make or break your closings and how to leverage bankruptcies to get more deals.
And much more!
Again, the call is at 8pm EST/5 pm PST — TONIGHT — Thursday July 16, 2009.
This call WILL BE FULL! You won’t want to miss this training webinar so register now and arrive a few minutes early so you don’t risk getting locked out…
Click Here to Register
Talk soon,
Josh Cantwell
P.S. Jeff just helped a student close a $157K deal on a “dead” short sale. He’ll tell you about some of the case studies and closings he has worked on to make our students big pay days and show you how you can do the same. Remember, it’s all content…and we’ll leave plenty of time to get your questions answered LIVE tonight.
Register now…
Click Here to Register
$157K profit from an almost “dead” short sale
Wednesday, July 15th, 2009 | Uncategorized | No Comments
Recently a SREC coaching student sought help from Jeff Watson on a “next-to-dead” short sale deal the student was working. Just last week that student cashed in $157K in PROFIT from that almost “dead” deal.
Yes, there’s a reason Jeff is highly regarded as America’s Top Short Sale Lawyer.
Tomorrow night I’d like you to join me and Jeff Watson on a LIVE training and Question and Answer call –Thursday, July 16th at 8pm EST/5pm PST.
Register to join us now…
Jeff is not only a practicing attorney but a heavily active real estate investor who at least a dozen real estate “GURUS” look to for answers regarding new foreclosure laws, mortgage rescue laws, loan mod laws and title insurance bulletins.
Needless to say, when it comes to real estate investing — Jeff Watson knows his stuff!
On Thursday night’s call Jeff and I will discuss…
>>>What “material facts” need to be disclosed to the seller and buyer to avoid fraud.
>>>What disclosures are REQUIRED and NOT REQUIRED to give to the end buyers lender.
>>>The “danger” of double escrows.
>>>How to completely eliminate potential “fraud” from your closings.
>>>What constitutes and “ARM’S LENGTH” transaction and how to avoid working in the “gray area.”
>>>Why every decision made by the foreclosing lender is driven by money and how to capitalize on their greed.
>>>The most misunderstood concept for realtors who do short sales: Fiduciary duty.
>>>How to avoid “conflicts of interest” to keep yourself out of a “sling” or the “SLAMMER.”
>>>Understanding the rules of negative equity and how to profit legally and ethically from it.
>>>Essential facts of bankruptcy: when they should and shouldn’t and how it can make or break your closings.
And much more!
This is a LIVE, no cost, “no pitch”, all content training webinar Jeff and I are holding to celebrate the launch of his new blog and release of his newest special report.
At the end of the call Jeff and I will even hold a open Q&A session addressing all your questions concerning real estate investing.
Register now to join us at 8pm EST, Thursday July 16, 2009…
I must warn you, this call WILL fill up fast! Register now at the link above a login to the call a few minutes early to ensure your spot.
Talk soon,
Josh Cantwell
P.S. Jeff is not only America’s Top Short Sale Lawyer, but my personal friend, business partner and attorney. There are few people on this planet that no more about the short sale process. Join us on tomorrow night’s call and let Jeff prove it to you.
Again the call is Thursday, July 16th at 8pm EST/6pm PST.
Register now…
P.P.S. Jeff is releasing a new *F R E E* special report. He’ll tell you about it on the call. His last one completely shook the industry – this one is sure to do the same.
Sell, Sell, Sell! (Show Your Real Estate Credibility)
Wednesday, July 15th, 2009 | Uncategorized | No Comments
You want to always have more than enough proof of your credibility because credibility is a huge factor in booking appointments with good leads and achieving successful closings. So, put together a sort of easy-access kit, if you will, to show prospects your proof of credibility. Make the kit organized so your client can clearly see all of the important details. Don’t try to use it as your sales pitch, get your proof of credibility in their hands or email inbox before you set-up any kind of appointment. This will excite potentials and make them eager to book a meeting with you. It will also get you more referrals as they show their family and friends and compare you with your competitors. Additionally, it greatly reduces any chances of buyer’s remorse because it reinforces their excellent judgment in choosing you. Things you want to have in your credibility kit:
- Business cards, brochures, and such
- Your website address, which must always be organized and up-to-date or will you lose credibility
- Articles pertaining to the real estate market in the area
- Proof of corporation
- Before and after pictures of remodeling you have done or participated in
- Case studies of properties that you have discounted mortgages for
- Financial references
- Testimonials
- PR items (if you have none, you need to get some)
- Examples of problems you have solved (target emotions of security and happier lives with these examples)
- Proof of your belonging to the Better Business Bureau
Testimonials are a key part of proving your credibility. You want the testimonials you show to focus on feelings and emotions rather than reason and logic because most of the decisions people make are based on emotions, whether we realize or not. If you haven’t gotten testimonials of your own yet, show testimonials of people you have worked with like your colleagues or attorney, while you start to gather your own.
Click the link below to register now for the July 16th webinar at 8:00pm with Josh and Jeff.
