Remember This The Next Time You Talk To The Banks…

Thursday, February 11th, 2010 | Uncategorized | No Comments

Foreclosure Doesn’t Mean No Options for Homeowners

Wednesday, February 10th, 2010 | Uncategorized | 1 Comment

Homeowners facing the threat of foreclosure are most likely in a very emotionally vulnerable position, and will welcome the expert advice and guidance that you, an educated real estate investor, can provide. If you can explain the options available to them and help guide them to an informed decision, you’ll be their hero – you’ve made a big problem go away.

Those heading into foreclosure may think they only have one or two options – wait until the bank kicks them out or simply walk away. But, you can offer some alternatives that may allow them to get out of a tough situation with their head held high. Neither of these will help them salvage their credit or debt obligations. This is where you step in. By explaining the following options, you’re educating the homeowner and setting realistic expectations:

• Stay put – Homeowners going into foreclosure may choose to just stay in their house as long as they possibly can. They may even file for bankruptcy, which can stall the foreclosure proceedings. It’s not unusual for homeowners to be able to remain in their home for over 12-18 months before being forced to leave through eviction. This is the worst choice.
• List the house for the amount of the debt – This is kind of a “cross your fingers and wait” method. The house is put on the market through a realtor in the hopes that someone comes along and pays the asking price, all before the foreclosure auction takes place. Not the best alternative.
• List the house for a short sale and hope for a buyer – In this scenario, the homeowner is heading in the right direction, but hasn’t fully chosen correctly. The idea of a short sale to avoid foreclosure is great, but they are now relying on a realtor to find a buyer who is patient enough to sit through the lengthy negotiation and approval process can be difficult. In this scenario, the negotiation process might get sidelined due to a lack of knowledge, and often homeowners won’t receive the best outcome. Savvy lenders will not hesitate to work negotiations in their favor if the realtor is not asking the right questions.
• List the house for a short sale, but work with a real estate investor – A real estate investor will be able to identify a buyer from their list of investors; someone who is willing to wait out the short sale process. An investor will also be able to negotiate with the lender so that the end result is the best possible solution for the homeowner. Realtors still receive their commissions.

Obviously the last option is ideal, and creates a win-win situation for everyone – the homeowner, the realtor, the buyer (if it’s not you), and you, the real estate investor. The above are not the only options that are available, but are the most common. Read more details about the options that a homeowner facing foreclosure has by clicking here.

By explaining all available options to a homeowner facing foreclosure, you’re helping them make a decision that could impact their future for many years to come. Are you ready to take on that challenge? Take the first step to building your real estate investment business by registering for our free Silver Membership today.

“You’re Hired!” Be My Apprentice.

Wednesday, February 10th, 2010 | Uncategorized | 4 Comments

The World Short Sale Main Event (WSSME) II is finally over and I had to spend this past weekend recouping from all the fun and excitement. At the WSSME II, I spent almost a week away from my wife and kids teaching and training my newest and best techniques for explosive growth and business automation in the short sale niche.

The one question that came up again and again was this: “Josh, what was the one thing you did that made your business grow so quickly and continue to grow today?”

So I sat back and thought about it for a sec. It didn’t take long because I knew my success was truly based on TWO CONCEPTS.

#1 I set up an “Apprentice Program” where I partnered with realtors, other investors, and mortgage brokers, who brought me floods of new short sale deals every single month. I made a deal with them. My team would do all the heavy lifting. My team would negotiate the deals, sell them, fund them, close them. Just about everything. All the “Apprentice Partners” had to do was bring me deals. We split those deals 50/50.

#2 I set up “Business Systems” that would process these leads every day, every week, every month weather I was there or not. This was the highlight of the WSSME II event. I did a special 90 minute training the second night from 8-9:30pm. Everyone came back at 8pm after a full day just to hear this special segment. The room was packed.

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