Strategic Real Estate Coach

I Lost Big Bucks On This!

Josh Cantwell — Thu, 17 May 2012 10:00:27 +0000

Dang it.

My pockets are lighter today thanks to a friendly round of golf.

Yesterday I teed off with my friend, local real estate investor, SREC-follower and coach, Matt Rd. Matt specializes in lease option deals, and because of this expertise, he helps teach and train my Sharp Concepts Realty agents everything they need to know about rent-to-own properties – including how to rent and flip them.

Matt and I made a friendly wager on our game, and I’m sad to say I came up short. So, I had to open my wallet and pay up… $2.

BUT, what came out of our game of golf was so worth the cost. We spent the whole round brainstorming. We’re working on incredible upgrades to our lease option training, including Instant Cash Infusion and the Accelerated Investor Pro training program. We focused on ways to deliver cool, unique content while working our way to the greens.

So stay tuned for the results of our brainstorming and training course improvements and you’ll soon be on your way to being a lease option expert.

Here’s proof that I paid my debt. Thanks for a great round, Matt!

Parma House Case Study Whiteboard Video

Josh Cantwell — Tue, 15 May 2012 16:54:43 +0000

200 Banks at Risk to Fail in 2012

Josh Cantwell — Sun, 13 May 2012 10:00:37 +0000

According to a recent report released by Trepp, there are more than 200 banks earmarked for likely failure in 2012. Three have already failed. Georgia has the largest concentration of those identified (41), followed by Florida (32), Illinois (24), and Minnesota (12).

The stats represent a slowdown from this same time last year, with 22 at the end of April 2012, compared to 39 at the end of April 2011. Why the slowdown? Struggling banks are being given more time to course correct, raise capital and improve performance. But, that could mean closures filtering over into next year. Bad commercial real estate loans account for over 70% of non-performing loans at the failing banks, followed closely by residential real estate loans with 25% of the total.

For the full article, click here.

Fannie Mae Avoids Q1 Bailout

Josh Cantwell — Sun, 13 May 2012 10:00:34 +0000

Taxpayers are getting a little breather as Fannie Mae turned a profit at $3.1 billion, passing the $2.8 billion required Treasury payment. This is the first time since going into conservatorship in 2008 that the GSE hasn’t required a draw.

Fannie’s CFO, Susan McFarland, is anticipating continued strong performance results. “Our credit performance is headed in the right direction with significant improvement since 2009, and we expect that the reserves we have built to cover future credit losses on the pre-2009 legacy book of business have reached their peak.” Fannie lowered their reserve for credit losses by $2.3 billion, and the rate of serious delinquencies continues to drop. As for new mortgages? Tighter restrictions such as a 763 FICO score and loan-to-value ratio of 70% ups the screening process.

Read the full article here.