Strategic Real Estate Coach
We’re shutting it down soon…
Friday, August 29th, 2008 | Real Estate Investing, Short Sales | 1 Comment
By: Josh Cantwell
Wow, yesterday was so crazy with the Short Sale Success Blueprint launch!
We almost sold out yesterday, but have actually decided to keep it open for a little while longer and take more orders than we wanted to. We’re going to have to shut it down later this afternoon though.
If you haven’t checked it out yet, go over to Short Sale Success Blueprint to order your Free Blueprint:
Short Sale Success Blueprint Offer HERE
This thing is packed full of short sale information that’s going to blow your mind and change your business.
But like I said, we’re almost out, so if you’re interested you have to hurry up.
Short Sale Success Blueprint Offer HERE
Urgent News
Wednesday, August 27th, 2008 | Real Estate Investing, Short Sales | 1 Comment
By: Josh Cantwell
It’s been crazy around here today. Literally the entire office is running around in mass chaos. We’re trying to answer questions one by one and get ready for the big day tomorrow.
Tomorrow you have an opportunity to be a part of real estate investing history…
OK, here’s the deal. Next month (late September) we’re going to start selling our home study course called the “Short Sale Success Blueprint.” It’s loaded with 5 books, over 9 DVD’s and Cd’s and multiple mindmaps outlining a true “systems” business.
It’s similiar to a mini-franchise in a box.
The price is going to be a little less than a thousand bucks, probably $995.
We’ve also started a NEW coaching program called the “Short Sale Success University.” It’s $10,000 per year.
It’s packed with Basic, Intermediate, and Advanced short sale techniques and delivered to you 4 different ways (watch the video tomorrow).
ITS MEGA POWERFUL!!!!
For an EXTREMELY limited time, starting tomorrow at NOON EST, we’re doing something so crazy and out there… and directly for your benefit.
We’re giving away the $995 course (Short Sale Success Blueprint) for FR:EE and giving you the Coaching Program (Short Sale Success University) for next to nothing.
We’re doing it for one reason and one reason ONLY.
Our coaching students, almost every single one of them, are experiencing tremendous success since they’ve been working with us.
Their lives have changed totally.
Their finances have never been better. Their businesses are running like well-olied machines (even in this supposedly crappy market).
They are making more money and have more time to do the important things, like travel the world, than ever before.
We think your BEST chance of success is by participating in a similiar program, so there you go… That’s the reason.
It’s all designed for you to achieve the success you want.
This isn’t about us.
Trust me, you’ll know after a month in the program if it’s right for you. If it’s not just let us know, but if it is – then watch out because your life is about to change in a BIG way.
So tomorrow, Thursday 8/28 at 12 NOON EST, click here…
It’s going to sell out for sure, so don’t hestitate on this!
Always trying to be better…
Thursday, August 21st, 2008 | Real Estate Investing | No Comments
By: Josh Cantwell
Right now I’m at The Winner’s Circle in Tampa, FL hanging out at a huge mansion with people like Roger Salam, Bill Duquette, J.T. Foxx, Dustin Mathews, and A.J. Puedan at our Mastermind group event.
This mastermind group is awesome, some of the greatest minds in real estate are in it. We all get together to bounce ideas off each other, and talk about what’s working and what’s not working.
Not to mention, we get to enjoy the sun and sand in Florida!
This is where I’m able to sharpen my skills to be a better investor and teacher.
You can never stop learning. I’ve learned that we all need coaching, no matter where we are in life and what level we’re at. Even coaches need coaches.
If you haven’t had a chance yet to check out my newest video, take a minute to check it out here…
BRAND NEW MONEY MAKING VIDEO HERE
There will be more cool stuff coming next week, including the Short Sale Manifesto 2.0, so be ready.
Enjoy the pictures!
I think I know what may be holding YOU back…
Tuesday, August 19th, 2008 | Real Estate Investing, Short Sales | No Comments
By: Josh Cantwell
I just finished a new video that shows you SIX *proven* ways to get your short sales approved faster and at lower prices using today’s BEST NEW Strategies.
If you’re serious about building a real estate investing business that pumps out more cash than Exxon Mobile, then I want you to pay close attention.
A few years ago, I was a struggling real estate investor, trying to get my business off the ground. I was busy, but not successful.
And I was frustrated.
I didn’t have a system. I didn’t have strategies. I just flew by the seat of my pants every day hoping that things would come together.
I was shocked at how obvious and easy the solution was… figure out a system that works and use it over and over and over again… every time.
As soon as I changed my approach, and started using the same strategies every time, my business blew up (the good kind of blow up!).
So I’ve just finished a new video that you’ve got to check out. This is the kind of video that I could have used when I was trying to figure things out. But at least I can pass it on to you!
I just finished “The Top 6 Best (and Newest) Strategies For Getting Your Short Sale Offers Negotiated AND Approved In 45 Days Or LESS At The Absolute Lowest Prices“.
The concepts and strategies in this video are what I am using in my own business and what my students and clients are using across the country RIGHT NOW to make serious money (like $50k – $100k per month) with short sales.
These aren’t strategies that we were using 4 or 6 months ago. The market has changed – BIG TIME – so I’ve had to adjust with the market and I guarantee this is what’s working today.
So if you’re using strategies from a few months ago, it’s time to update your arsenal.
Take a few minutes and check it out here…
I just hate to see people who really want to make it in real estate struggling because they don’t have the right information, or worse yet, they have just plain BAD information.
So I wanted to share the Brand New strategies that are working for me.
More ideas on the way, so keep your eyes and ears open.
You’re gonna love what’s happening at the end of the month, I promise!
Some Cool New Stuff
Tuesday, August 12th, 2008 | Real Estate Investing, Short Sales | 7 Comments
By: Josh Cantwell
Short Sale Manifesto 2.0 is 2 WEEKS AWAY & I have a hilarious video as a gift for checking us out.
I just finished “How To Fill Your Property Acquisition Pipeline With An UNLIMITED Number Of Pre-Foreclosure And Short Sale Leads Using NONE Of Your Own Cash OR Credit!”
Take a few minutes and check it out here…
http://www.shortsalesuccessblueprint.com/
I know there’s a ton of people out there looking to get out of their day to day jobs and know real estate can provide them with the lifestyle they desire.
There’s another group of experienced real estate investors looking for today’s best strategies to take advantage of the foreclosure and SHORT SALE BOOM.
One hurdle I hear from many new investors is “how do I get going”. Another thing I hear a lot is, “I don’t have the money to pay for expensive marketing campaigns to get new leads!”
Believe me, I understand, and I have solved that problem.
The first video I am releasing today addresses just that… “How To Fill Your Property Acquisition Pipeline With An UNLIMITED Number Of Pre-Foreclosure And Short Sale Leads Using NONE Of Your Own Cash OR Credit!”
Take a few minutes and check it out here…
www.shortsalesuccessblueprint.com
I’m also recording some new videos with today’s best short sale negotiation strategies AND I am finishing the Short Sale Manifesto 2.0 that you’ll have immediate access to when it’s ready in a week or two.
But you should ONLY check this out if you want to think about making an extra $200,000 this year – by the end of 2008!
If you want some new ideas for filling your pipeline, then check this out.
http://www.shortsalesuccessblueprint.com/
More ideas on the way, so keep your eyes and ears open.
Make sure to let me know what you think about the video when you get it!
TAMPA, CLEVELAND, 125 Guru’s, 70 coaching students and 25 roller coasters
Monday, August 11th, 2008 | Real Estate Investing, Short Sales | 1 Comment
By: Josh Cantwell
Yep you read that right, and my back is killing me! You see, I have been on my feet for the past week and a half straight and my dogs (feet) are barking (hurting bad) plus I just dropped 4 Advils to cure my ailing lower back. It’s bad. Seriously bad. Oh well. Small price to pay because these past 10 days, I have been seriously taking care of business.
A week and a half ago I spent Wednesday and Thursday networking and making new relationships at The Winners Circle Summit in Tampa, Florida. My good friend Roger Salam has put together one of the greatest networking groups on the PLANET. Far and away the BEST in THIS country.
I was hanging out with dudes like Gary Boomershine from Sales Team Live, Tim Mai, Colin Egbert from Realestateinvestor.com, Richard Roop, Preston Ely from Probates by Preston, Dustin Matthews, Kathy Kennibrook, Paul Bauer, AJ Peudan, Jason Rodriquez, Bill Duquette, Jon Goldman from Lumpy Mail, and STEVEN frickin PIERCE – internet marketer extraordinaire – as well as a 115 other great real estate trainers and marketers.
We got together for one reason – to raise the bar for the benefit of our students and customers. I know I accomplished my goal. I got some crazy good ideas to bring back to my students…..and that’s exactly what I did.
So I jumped on a plane and flew home to Cleveland to my beautiful wife and new baby girl.
Here’s the thing. I had to get right back up the next day and teach our highest level coaching students for 4 days. The first two days were with our Diamond and Platinum groups and then we did 2 days with our Master’s Elite group.
Seriously, this Masters Elite group is crazy good. These guys are closing between 3-6 short sales a month, many averaging $20k per deal. Some have made $100k per month, each month so far this year. This is what it’s all about.
One of my students closed a short sale quick turn and made $130k this past Friday. Then just Monday another student closed a short sale and made $80k while she was in Cleveland!
Once the event was over we closed the office and took our staff and some of our students who stayed over to CEDAR POINT. What a blast!
So here’s my question. Do you have a recent case study or deal closed to tell us about? If you do, post it on the BLOG for all to see so we can congratulate you.
Check out these pictures.
Short Sales and the FICO Score
Monday, July 7th, 2008 | Real Estate Investing, Short Sales | 14 Comments
By Josh Cantwell:
It’s not hard to find chatter on the blogs concerning how a short sale or a foreclosure affects a FICO score. Frankly, even if it were the same, the differences between a deficiency judgment and a negotiated note are considerable: There’s no gray area here.
As a homebuyer you need to be sure to explain the benefits to the homeowner if you are able to buy their house, as well as the negatives if the house should be sold at auction.
In the past, investors have claimed that a foreclosure would greatly harm one’s credit while a short sale would allow the homeowner to move forward to enjoy a faster recovery. What has been implied in this statement is that the overall damage to one’s credit in terms of points would be greater in a foreclosure than a short sale, when in fact there may be little credit preservation advantage of a short sale over a foreclosure.
As a result, many homeowners have been advised by real estate professionals who saw little benefit in a short sale to allow the house to go into foreclosure.
This was wrong.
Make no mistake, there are definite advantages to a short sale beyond allowing the homeowner to move on emotionally from the foreclosure, but it has little to do with how many points a short sale will drop a FICO versus a foreclosure.
Naturally, the best outcome for the homeowner is to sell the house for what they owe on the balance of their mortgage, if not more. For real estate agents, this is what they hope to do for each of their clients. Unfortunately, in most communities, houses are over valued and markets will no longer support asking prices. Likewise, as of this writing, only three communities in the US currently having rising appreciation, strong sales and few if any foreclosures. Only three! If the homeowner is unable to structure a workout or a forbearance agreement with the foreclosing lender, then a short sale is the next best option.
The benefits are twofold.
First, be aware that Fannie Mae recently established a 2-year elapsed time period for reestablishing credit for homeowners who sell their homes through a short sale. Two years may seem like a long time to wait before being able to get a new loan, but compare this to what happens if the homeowner goes through the foreclosure process. According to the Fannie Mae guidelines, effective May 31, 2008, a homeowner who has filed a foreclosure will be “ineligible” for a loan for five years.
Did you see that? FIVE YEARS!
Two years or five years…? That’s something definitely worth considering.
The other benefit involves something called a deficiency judgment. When a house is sold at auction, the chances of the foreclosing lender filing a deficiency judgment increases dramatically. As investors, we’re in the business of buying properties, but often the negotiation process used to achieve a short sale with the bank gives the homeowner their only shot at avoiding a deficiency judgment.
A quick review… As many of you know, a deficiency judgment is obtained when a property is foreclosed and sold (usually at the courthouse by the clerk of the court) to the highest bidder. In most states a deficiency judgment can be obtained for the difference between the high bid and the higher foreclosure judgment amount. Usually the court determines which value is higher, the high bid or the appraised value of the property on the date of the public sale. The higher of the two is taken to determine the difference from the judgment amount, and this difference is the deficiency judgment (what was owed subtracted by the final sale price).
Deficiency judgments are just that: judgments. They are an albatross around the neck of the debtor and can only be removed by paying it off or by bankruptcy. Furthermore, deficiency judgments usually earn interest until paid. In Florida right now that rate is 11% a year ––better than the bank by far!
If a homeowner is saddled with a deficiency judgment, guess what? They won’t be able to buy anything using credit. New house? Forget it. New car? Forget it.
While in the past we have seen few deficiency judgments filed against foreclosing homeowners, today that landscape has changed. We once were under the impression that banks seldom enforce deficiency judgments, which is true ––they sell the judgments for 5 to 10 cents on the dollar. Here’s the deal that the bank has to consider . . .for a $100,000 deficiency judgment they invest $500 in attorney fees and get $10,000 in return just for pushing paper. What do you think they are going to do?
For those unsecured promissory notes you negotiate on some of your deals, the same is true. The banks do the same thing –– getting 5 cents on the dollar.
Another point of consider, if the house goes into foreclosure and is taken back by the bank to be listed as an REO, the meter keeps running on the costs incurred by the bank until the REO dept. sells the house. This can make the deficiency huge.
Again, as investors we offer homeowners a way out. Whatever effect a short sale has versus a foreclosure on one’s FICO score pales in comparison to the long term harm of a deficiency judgment and the inability to be approved for a loan for years to come.
$65,000 Profit!!! Case Study – Hilden Rd
Friday, June 13th, 2008 | Real Estate Investing, Short Sales | 3 Comments
By Josh Cantwell:
Wow. I don’t know if there’s anything better than getting an email like the one I’m going to share with you below. I was having a normal week, nose to the grindstone, taking care of business, anticpating the birth of my first child, having coaching calls, etc. when a new email came through from one of our coaching students, Howie. The title of the email was “WE DID IT AGAIN!!!”. Oh wait, it had 4 exclamation points, not just 3! My first thought was “awesome“.
I opened up the email excited about what I was anticipating to read, and it was AWESOME. After I read it, I felt like a proud parent. Howie is one of our newer coaching students, just joining SREC’s coaching program on February 1, 2008. He has just completed his 2nd deal and made $65,000 on it! Not only that, but it only took him 3 months to complete it from start to finish! Okay, before I spill all of the details, I’m going to share Howie’s email with you and let him tell you.
“Hey Guys,
I just wanted to share our latest deal that we closed last week! Man, this just keeps getting better! We put a house under contract 03/05/08, it was a 5br/3ba approximately 2400 SQ ft. and is located in the nicer part of town. This particular home was built in 2005 and I guess would fit the criteria of a “Pretty Home” in a newer subdivision. The homeowners owed 290k on the first and 40k on the second. We got the Lender, Aurora Loan Servicing, to accept our offer at 205900 with them netting $187,651 on the first and $1000 on the second. We resold the home for $285000 without doing anything to the home. We funded the deal with private money and received a check for $62306.32 after all fees and realtor commissions were paid out. I also received $3600 from my broker as a real estate commission. We closed this deal in exactly 91 days from the date of submission to the actual closing date. Aurora Loan Servicing Rocks!!! I want to thank all of you again from the bottom of my heart; there is nothing more satisfying than reaping the rewards after months of hard work and persistence. Josh, Jeff, Greg, Ted you guys keep motivating the group, I know there are a lot of people still struggling with these deals. What more can I say, after the closing I stood on my deck in the back of my house, the last six months just flashed thru my mind, I thought to myself; I am so happy and grateful and feel blessed to have crossed paths with all of you….God Bless All of You and everyone that’s part of your organization.
Best Regards
Howie & Raquel in Jacksonville”
So to recap:
Total Original Payoffs: $330,000
Discounted Payoffs: $206,900 (gross) with a net of $188,651
Repairs: $0
Resale Price: $285,000
Profit: $65,906.32
Total Days From Start to Finish: 91
Seriously, how sweet is that?! After months of learning and applying what he’s learned, Howie closed a $65,000 deal in just 91 days! Not much can compare to seeing our students be successful and getting an email like that.
I remember the first couple of deals that we did here in Cleveland. They were nothing like that! BUT, the sense of accomplishment that we felt in having closed a deal and knowing that we had helped someone out of a bad situation far exceeded the fact that we only made $348. And now, just a few years later, to see our students making $65,000 rivals that feeling of accomplishment!
If you’ve just closed an awesome deal, or a tough deal, or your first deal feel free to share that with us and leave a comment below. It’s awesome to hear about other people’s accomplishments.
Advanced Loss Mitigation from the World Short Sale Main Event
Wednesday, June 11th, 2008 | Real Estate Investing | 2 Comments
By Josh Cantwell:
Check out these highlights of what went down at the World Short Sale Main Event during the Advanced Loss Mitigation discussion with me and Jerami King.
We did a lot of teaching, and we had a great time doing it! You’ll see what I mean…
Let me know your feedback. Do you want to keep seeing more of Jerami? (Maybe we can dig up an old photo of him too!)
World Short Sale Main Event Update – Jeff Watson on the Option Contract
Friday, May 30th, 2008 | Short Sales | 3 Comments
By Josh Cantwell:
Check out what’s happening this week at the World Short Sale Main Event. In this clip, Jeff Watson, author of the Death of the Land Trust talks about the Option Contract and the right way to close deals using the Option Contract.
Check it out…
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