Beat the Bank & Close More Short Sale Deals: Tips Inside!
Tuesday, August 31st, 2010 | Uncategorized | No Comments
I’m really excited to tell you about a training webinar I’m hosting in just two days!
The training is Thursday and it’s for anyone who is actively negotiating short sales. This includes real estate agents, short sale investors, mortgage brokers, lawyers and loan modification companies.
Join me on Thursday, Sept. 2 at 8:30pm Eastern to learn how you can get access to information that will COMPLETELY CHANGE how you negotiate your short sale deals.
Register for the webinar here.
Face it, most banks are a pain in the butt. Every tip or technique you can learn and apply during your negotiation could make you extra cash on each deal and get the deal done faster.
Last week I had a fantastic call with Jerami King who shared his inside knowledge on specific banks and their procedures to approve deals. He explained the percentages the top banks like B.O.A., Wells, Citi, Chase and others are taking off their BPOs and off their payoff balances.
Well, Jerami has a staff of over 20+ people he had to train. This week I will introduce you to the guy who helped train Jerami’s team.
His name is Dean Edelson. Dean is in my mastermind group and I’ve been buddies with him since 2005.
Dean is super successful short sale investor from Arizona. He’s bought and sold over 200+ properties and has a fat portfolio of rentals. He’s not a “guru” type guy though. He’s more of a “guy next door” type guy. He’s just like you and me. He’s actually a former comedian too, which is cool.
What’s great about Dean is that, over the past 2 years, he’s recorded EVERY short sale negotiation call he’s done with loss mitigation departments. Over 1600 total calls. He’s going to play some of his best calls for you so you can hear how a real pro does it, and then apply this in your business.
On Thursday, Dean and I are going to focus solely on how to ACTUALLY negotiate and SPECIFICALLY what to say when you’re on the phone with a bank. Together, we’ll put all of these negotiation pieces together.
Register for the webinar here.
If you are struggling with short sales, I completely understand. I get it.
The reason many investors and just about every realtor hates them is because of the negotiation process.
See, most folks don’t know HOW to negotiate. They don’t know how to get through the red tape, don’t know how to counter offer, they cower to the banks’ whim, and they don’t know what to say when talking to a real tough loss mitigator.
*What if you held the GOLDEN TICKET to negotiating your way to bigger profits, more commissions, and faster approvals?
*What if you could blast through lender objections and roadblocks faster than ever?
*What if you could easily get your short sales to the decision makers?
*What if you could virtually eliminate the lender headaches you go through when talking to the banks?
* What if you could indentify little profit centers where you could make an extra $3,000 – $6,000 dollars per deal.
This is information your business can’t do without!
So join me on this special webinar – Dean is one of the leading short sale negotiators in the country and the only guy I know who has recorded his negotiation calls. He’ll give you access to those calls.
Click here now to register.
Peace,
Josh
P.S. Wait until you hear about the surprise recordings he has for you on the call… I couldn’t believe it when he told me about them. You’ll be blown away.
Register for the call now.
Tips to Make Your House Stand Out to Buyers
Tuesday, August 31st, 2010 | Foreclosures, Real Estate Investing | No Comments
If you’re trying to sell a house on the retail market, you’re likely up against a lot of competition.
So, what’s it going to take to get the attention of buyers? You need to make your house stand out from any other on the market. We’ve heard the statistics and know what we’re facing – sluggish sales of new homes, and plunging sales of existing homes. But, that doesn’t mean you have to give up. There’s things that you can do to make your house as attractive to buyers as possible, including the following:
- Price competitively – research similar homes in your area that are for sale and set your asking price as competitively as possible. Buyers won’t want to haggle if they can get a comparable house down the street for less money.
- “We’re Not in Foreclosure!” – making it known that you’re a traditional seller means your house is probably in better condition than ones in foreclosure – things are being maintained and the lawn is being mowed. Sellers can also offer little perks like credit towards closing costs.
- Best foot forward – curb appeal matters. Showcase the property as best you can inside and out.
- Professional photos – consider hiring a professional photographer to spotlight the best features of the house, in photos and video.
- Consider renting – renting or leasing can be a great alternative in a tough market.
Existing Home Sales Plunge in July
Tuesday, August 31st, 2010 | Bank owned, Foreclosures | No Comments
We’ve hit another record, and not a good one.
In July, sales of existing homes plunged to the lowest levels in 15 years, despite super low mortgage rates and bargain home prices. In July, sales fell by more than 27%, marking the largest monthly drop since 1968. Of course, fears in the housing market magnified fears about the broader economy. With the inevitable double-dip, things may only get worse. The housing market is undermining the faltering economic recovery. The hardest felt range was lower to mid-priced houses. In the Midwest, homes prices between $100,000-$250,000 fell by 47%. This record comes off a strong spring, when the government-sponsored tax credits provided a much-needed boost. Slower sales means more houses being added to the inventory levels, resulting in a 12.5 month supply of homes at the current pace of sales. Also adding to the plunge is high unemployment rates, increasing foreclosures and a standoff between buyers and sellers on price. Sellers are reluctant to lower prices too far, and buyers are reluctant to purchase, fearing prices will continue to drop.
Learn from a Jedi Master Short Sale Negotiator
Monday, August 30th, 2010 | Foreclosures, Pre-foreclosure, Real estate short sales, Short Sales | No Comments
Happy Monday! Can you believe it’s almost September? Well, I have a great way to kick off a new month. Check this out.
How would you like to listen in as the nation’s top short sale negotiator spills the beans on negotiating your way to FASTER and EASIER approvals?
Join me this Thursday, Sept. 2 at 8:30 pm Eastern as I talk with my good friend Dean Edelson. Dean is truly a Jedi Master when it comes to short sale negotiations. Over the last five years Dean has recorded ALL of his loss mitigation calls. That’s over 1600 calls!
Click here to Register for this Sept. 2 webinar now.
Dean is going to reveal some of his best kept secrets to help you…
*Get your deals approved faster.
*Blast through lender objections.
*Create bigger profits.
*Deal confidently with difficult mitigators.
*Negotiate like a Jedi Master.
You don’t want to miss this call. Having this information is something that will definitely set you apart from the pack, and improve your results tremendously.
See you on the call!
Josh
P.S. Why miss the chance to tap into your inner Jedi?
Register for the call right now!
Legally swipe your competition’s private lenders (video for ya)
Sunday, August 29th, 2010 | Foreclosures, Pre-foreclosure, Real Estate Investing, Real estate short sales, Short Sales | No Comments
Have you ever seen a real estate investor in
your town closing a bunch of deals…
… and you’re sitting there wondering how they’re
funding their deals?
Well, this video that I found last week
shows you how you can literally (and legally)
*spy* on your competitors to see who their private
lenders are (and hard money lenders too!)… and
he shows you how you can swipe those lenders so
they can become your own.
Check out the video… its 23 minutes… and I think
you’ll enjoy it a ton 
https://m1mm.infusionsoft.com/go/pmod/Josh/ <<<
Oh, also…
… the video shows you how this also
works for finding ANY person who lends private
money in your local market pretty darn easily
(this source he shows in the video is free in most counties too
There’s actually an example of a real world
private lender he found doing what the video talks
about that just lent $300k to another investor
a month ago.
This can change the game for some investors who
are needing more private lenders to help you close
your deals.
Check out the video and let me know what you think <<
See ya over there
Josh
PS – I think they may be taking the video down soon…
not sure when… but it’ll definitely be soon. So, head
on over and check ‘er out now while its up for ya.
36 *Active* Private Lenders In 27 Minutes (How He Found Them)
Saturday, August 28th, 2010 | Foreclosures, Pre-foreclosure, Real Estate Investing | No Comments
If you watch this video my buddy put up and keep
saying you can’t find private lenders in your
area… I’d have to say you’re a bit crazy 
This guy found 36 active private lenders with
over $1.2mm in *available funds* in under 27
minutes through this source he shows you in
this free video.
The video will show you how you can find
all of the local *active* private lenders you
want, from a FREE resource available to those
of us who know how to use it correctly.
Click the link below to watch the presentation
https://m1mm.infusionsoft.com/go/pmod/Josh/
Enjoy
Josh
Former Bank Insider Reveals Unnerving Market Trends – 08.25.10
Friday, August 27th, 2010 | Uncategorized | 1 Comment
In case you missed last night’s call with Jerami King about the unnerving trends and changes in lender protocols, you can listen to the replay here. You’re going to want to hear what Jerami has to say about these shocking trends especially if you work with or come across a deal from Bank of America, Aurora, PNC, Chance, CitiBank, IndyMac/OneWest, AHSMI or any other major bank or lender. Jerami tells you which of these lenders work well with investors, which don’t and how to get approved quickly.
Can Cornbread Stave Off Foreclosure?
Friday, August 27th, 2010 | Bank owned, Foreclosures, Pre-foreclosure | No Comments
The housing crisis is making a lot of people desperate to save their homes and ward off foreclosure, and some people are getting really innovative.
Rather than rolling over and letting the banks take their homes, they’re taking up the fight on their own. People are turning to others for help – in exchange for things like cornbread or apple cakes. A tough job market has forced many people to get creative and fight back. By raising cash from selling recipies, representing themselves in court and doing whatever necessary, many homeowners are not going away quietly. Take Beverly Davis, a Georgia homeowner who is counting on her cornbread recipie to save her home from foreclosure. After losing her full-time job and going through a series of short-lived part-time jobs, Davis is hoping to sell enough cornbread to raise the $80,000 needed to save her home. It’s a daunting task, but one she’s not afraid to take on. Davis sells her cornbread via the Web, and gained her inspiration from a New Jersey woman who saved her home from foreclosure and qualified for a loan modification by selling apple cakes.
The Buy Price Formula
Friday, August 27th, 2010 | Real Estate Investing | No Comments
Knowing when to pull the trigger doesn’t have to be complicated. If you know you are getting a good deal then just buy the property, fix it and re-sell it. They key is “buying right.” If you follow this formula, can ballpark repairs with some accuracy, and know your exit strategy then chances are you’re off to a good start. So what’s the “buy price formula”? The formula that I have used and my students have used to buy and resell thousands of properties is this:
Take the after repaired value, multiply times 65% and subtract the repairs. That’s your buy price.
Example:
- Mortgage Amount: $330,000
- House Value: $300,000 after it’s been fully repaired (ARV).
- House Needs: $20,000 in repairs
- As-Is Value: $280,000 as is value = $280,000
- “Buy Price Formula” After Repaired Value (ARV) X’s 65% minus Repairs
- Example: $300,000 X 65% minus $20,000
- Offer Price: 195,000 – $20,000 = $175,000
- Notice that the amount owed is not relevant.
This formula works on all properties, too. Probates, Wholesaling, Short Sales, Free and Clear, Rehabs and REOs. I always like to say that if you’re not embarrassed by your offer, you’re offering too much. Most everyone at some point offers too much, only to find that costs go up, or the property doesn’t sell. Do that enough times and you’re either out of business, or hooked on antacids for heartburn or both! Buy right!
The Renting Alternative Will Undermine The Housing Market For Years
Thursday, August 26th, 2010 | Real Estate Investing | No Comments
I own my own house, and several properties, and for a while now I’ve been questioning the idea of homeownership being important to the notion of the American Dream.
So let me ask you a counter-intuitive question: Why is owning your house a bad idea?
To read the article, see Business Insider
