CA Wholesale Blog

Texas – Produce The Note Challenges

admin — Fri, 30 Jul 2010 12:49:11 +0000

Foreclosure laws vary from state to state, and some states are more in support of lenders than others.

In Texas for example, the time frame for filing a Notice of Trustee Sale is only 21 days prior to the sale, and this is the first public record filing in a non-judicial foreclosure required in Texas.

So also, in Texas the lender is generally not required to “produce the note” in order to show that its claim is legitimate and it has a right to foreclose.

I found this interesting opinion by a Texas law firm who apparently markets its services to lenders who are being challenged by borrowers demands to “produce the note“.

My comment is this:

The “produce the note” strategy is only the surface effect of a much deeper running concern.

Typically, a lender or loan servicer produces photocopies of paperwork that

1. Does NOT mention the lender or loan servicer in any principal role,

2. Does NOT link the lender or loan servicer to a principal role of the note,

3. Does NOT show that the lender or loan servicer is authorized by a principal of the note.

Since the original note has real value as a negotiable instrument in exchange for full payoff, accepting copies of the original is like taking the copy of a personal check that’s executed by someone else.

Nobody in their right mind would do that if they fully understood the procedure – not even in Texas.

Please let me know your opinion or if you’ve had any experiences or challenges that are related.

The Short Sale Killer

admin — Wed, 21 Jul 2010 15:51:30 +0000

Over the years I have done a lot of investing in real estate and particularly foreclosures.

When the market was going up, it was easy to save homes from foreclosure as an investor.

The simplest way to structure a deal was to take over the existing loan, take title to the house, bring the loan current and give the home owner some money to move.

If the numbers where too tight, you could fairly easily get a discount, particularly from the second loan if there was more than one.

Then values started to drop, and short sale became the new buzz word.

But over the last five years of real estate depression, short sales have become increasingly more difficult to get done.

Lenders take forever to approve short sales, and have added new contingencies almost on a weekly basis.

The contingencies are mostly designed to prevent a short sale investor from making any money.

In the banks’ mind, they are entitled to (at least) the full price that an end buyer (aka retail buyer) would pay, minus normal closing costs and commissions.

Investors who have taken on that battle have been forced into legal gray areas to edge out some profits on a few cases, while most short sale deals they try to negotiate fall apart for one reason or another.

Just last week I talked with one of the Nation’s leading short sale “educators” (aka “gurus”), and he told me first hand that one of his most successful students just sent him a copy of a check where he had made $50,000 on a deal.

However, that deal took 8 months to close, and during that time the student spent his full time effort trying to negotiate 20 other deals – none of them came through.

You can easily see how scrupulous real estate “educators” can frame these types of checks into “success stories”, continuing to impress upon their prospective students that short sale investing is still a valid business model.

Meanwhile, the most successful “short sale gurus” make hundreds of thousands of Dollars each month – not from short sale deals, but from the bogus information they are selling to more and more desperate opportunity seekers who are placing their hopes in it.

Over the past 6 months I have no longer participated in this game of chasing the dream, helping desperate home owners, trying to reason with lenders and engineer “win-win solutions” while reaping a healthy profit.

Why? Because it’s a phony game. The decks are always stacked in favor of the banks, and you can never “win” as much as the banks always do.

So I decided to take on the banks at THEIR OWN game, fight them (instead of trying to please them), and pull away the curtain from their unfair advantage.

Yes, I have removed the loans from two of my investment properties, and am now in the process of re-enforcing my rights against the common FRAUD that banks are committing each time they make a so called loan.

I will be posting more information about my journey against the lenders in much more detail. Meanwhile, please share your own experiences in the comments below. What is your story with your lender?

Commercial Short Sales anyone can do…

admin — Tue, 04 May 2010 21:36:02 +0000

I’d like to share with you some important information about
commercial foreclosure investing.

I know this may sound different from what you typically hear
but its true…

Contrary to what conventional wisdom might tell you,
commercial foreclosure investing is not hard if you know
what you’re doing.

For example, you know those expert insiders you see on TV or
read about in the papers or online?

Well, the truth is, anyone can do this.

These experts have simply learned ONE thing you don’t know
yet.

And that is…

How to find SWEET commercial deals.

D.C. Fawcett and Karen Hanover, two of the nation’s leading
short sale and commercial foreclosure experts, have created
the most hard-hitting video workshop I’ve ever seen, when
it comes to how to make a small fortune investing in
commercial real estate”

Watch it right now at the link below:

http://CaWholesaledeals.com/commercial-short-sales

The strategies are very simple and you might be surprised at
how EASY they truly are.

Here’s what they’re NOT:

1. Complicated
2. Require special skills
3. Work in only specific conditions
4. Require cash or credit

Here’s what they ARE about:

1. How to find NO MONEY DOWN deals fast
2. How to uncover DIAMONDS in the rough
3. Exactly what criteria to use when searching

Go check it out:

http://CaWholesaledeals.com/commercial-short-sales
The reason these techniques are so effective is because
they’re based on one critical thing…knowing the short cuts
to know what to do, and what NOT to do.

You see, Karen and D.C. have teamed up and are pulling back
the curtains on what could be a once in a lifetime
opportunity in the commercial foreclosure market.

And now they want to show you how easy it is.

Sincerely,

Thomas Bartke

PS- If you ever thought commercial foreclosure investing was
hard or risky, you’ll be excited to see how EASY it is.

Go now and check out the video:

http://CaWholesaledeals.com/commercial-short-sales

Shocking Short Sale Reports – Investors Turn

admin — Tue, 16 Mar 2010 16:54:22 +0000

Investors are turning away from short sales in droves as new reports of scary legal tactics come to light.

Many investors who have dealt in short sales over the past three to four years have unknowingly exposed themselves to prosecution as former home owners wake up to their old lenders garnishing their wages.

Of course they blame the investor who did not disclose that risk to them.

In the meantime, others are finding their investments save and cash flowing well.

Doug Fath, for example, a 28-year old real estate multi-millionaire, has made his imprint in a completely different niche, that is considered by most as one of the “scariest markets” in real estate.

After revealing what that niche is and how he has profitted from his investments, literally hundreds of comments poured in to his web site, asking for the “secret code” to be revealed.

Doug’s “secret niche” has the potential for immediate revenue streams, as well as long term wealth building features, as market analysis reveals strong demand and stable values in this market for years to come.

In fact, it is Doug’s long term market analysis which is based on demographics and specific needs of large groups of the population that has led Doug Fath to this profitable real estate niche in the first place.

Find out more and watch Doug’s free videos, and see the hundreds of comments that were left on his web site.

Click here to get the video

Short Sale Killer: Elimination Beats Short Sales…

admin — Wed, 24 Feb 2010 17:41:38 +0000

The Big Short Sale Lie

The short sale business model has long been touted as one of the best ways to make money in this housing foreclosure crisis.

What the gurus won’t tell you is the true numbers behind that business model.

That’s a big reason why so many beginning real estate investors fail with short sales!

It’s a lot of work (whether you outsource it or not, it’s still A LOT of work…)
Many more short sales don’t work out than the ones that do
It’s NOT easy to pre-select them and work only on the ones that will work
Banks and lenders are changing the rules every other week, tripping you up on promising deals at the last minute
You need A LOT of potential deals to make A FEW of them work out (they call that “a numbers game”, but hey, roulette is a numbers game too, right?)
Lenders make you feel like you’re doing something wrong even though you are the one providing a solution to their problem
Big Money scams and government being in cahoots with banks makes the whole business model ludicrous and frustrating

…and on and on!

What To Do If Your Short Sales Don’t Work For You?

In the following section I wil give you links to educate you about MERS, the scam of mortgage processing and administration.

I will show you a way that will help you beat back the system, not only for yourself, but for your clients as well.

And make great money in real estate when you fly under the Short Sale Radar to beat the system.

First, the most important link is this:

http://TurnDebt2Cash.com – watch the testimonial video and sign up so you get access to free webinars and reports about how to eliminate mortgages quickly and legally.

Supporting files and documentation:

Read up on what the mortgage industry is talking about (“Strategic Defaults“)

Why lenders are afraid of “Forensic Audits“?

Scary for MERS: Enforcability of Securitized Mortgages

MERS legal cases: This is really bad for the banks!

And here is the info on the solution for you:

http://TurnDebt2Cash.com

Leave your comments and opinions below andmake a difference today!

The IndyMac – FDIC – One West Bank Short Sale Scandal

admin — Fri, 12 Feb 2010 19:59:36 +0000

This must be one of the biggest and most scandalous eye-openers that unfold in the foreclosure crisis, which is saturated with propaganda about foreclosure rescue scams and banks’ unwillingness to work with short sale investors.

Remember this video the next time you talk to a bank, and click below to discover
how you can strike back:

How to Get Killer Short Sale Comps

admin — Thu, 21 Jan 2010 13:54:29 +0000

How cool would it be if you could know upfront and in advance what price the lender will accept on your short sale offer?

That’s exactly what you get to know if you follow this killer short sale strategy (click play to watch…)

Save 50% on GotForeclsoure Short Sale Secrets – Limited Time Special Offer

Are you struggling with short sales? One of the biggest issues is knowing what price the lender might accept.

There is an easy way to find out!

Every day in your area, dozens of properties are sold (or not sold) by lenders at trustee sales or foreclosure sales.

Many of these properties ended up at the sale because of failed short sale negotiations.

Here is the “Ah-Ha” moment: The same lender who was stone walling you and not letting you know what price they would really go for, reveals the price right here – in the opening bid amount of the trustee sale or foreclosure sale!

Now that the volume of foreclosure sales is so high, the opening bid amounts of comparable properties are true short sale and wholesale comps. Use them to add to your powerful arsenal of short sale negotiation weapons.

This powerful strategy – and many more are inside GotForeclosure’s Short Sale Secrets – now available for a limited time at 50% off – click here for more!

Questions or comments? Leave them below and get more exposure for your own real estate investing!

Freedomsoft Review – Who Should Buy

admin — Wed, 20 Jan 2010 22:59:41 +0000

Freedomsoft is a new real estate business and deal management software that is being launched by Wholesale guru Preston Ely and his partner Pete “the Ninja”.

Given the wide distribution of promotional materials through a large network of affiliates, you have probably already seen and heard about Freedomsoft from different sources.

So, instead of giving you a “review” of features etc. I will give you some thoughts in this blog post to help you figure out if this program is right for you.

Freedomsoft Deal Management

Any wholesaler or real estate investor who is doing multiple deals at any given time, and more than 2 to 3 deals a month could benefit from deal management software to streamline your business.

As a rule, you will need something to keep track of all the details on the deals you juggle, otherwise you end up doing a lot more work and probably losing some deals because you can’t keep up with them.

However, if you are just starting out, and your deal vloume is still pretty low, or you haven’t even really started yet, the money you could spenc on this software would probably be beter used to get your marketing machine going and attract some more deals and buyers.

Just “Getting Ready”?

My point is, many people get all tweaked out about “getting ready” to start real estate investing.

And so many times this is just an excuse for not getting started on the things that you really need to do if you want to build a real estate investing business.

Some of the things you need to do to get started are really simple and you won’t need any kind of deal or lead management system to get them done.

It may be just the bad feeling that you get when you think about picking up that phone and introducing yourself to a rehabber in your area so you can start building a real relationship with a real buyer.

But THAT’s what you NEED to do, and no software or management system will get you any closer to it.

Already a “Big Shot Investor”

On the other hand, if you have already done a fair amount of deals, and are really looking to ramp it up…

Or, if you are just drowning in your files with short sales and wholesale deals all mixed up…

…then Freedomsoft may be a very good answer and solution for you!

This is one of those “business tools” that you should by WHEN you need it – not “IN CASE” you need it!

You can check it out at this link!

HUD Waives 90-Day Seasoning

admin — Sat, 16 Jan 2010 06:48:42 +0000

It has been kind of expected among real estate and mortgage professionals. Today came the official announcement from the HUD office.

As of 2/1/10, FHA buyers can buy properties that have been owned by the seller for less than 90 days.

Of course, there are some strings and conditions attached. Watch this video for details…

Resources:

Release text

PDF of detailed conditions

What do you think about the impact of this temporary waiver? Engage and leave your comment below!

Best Wholesale Webinar Ever

admin — Wed, 30 Dec 2009 22:41:26 +0000

2010 will start with a big bang here at CaWholesaleDeals.com

Over the next few weeks we will bring you the Best Wholesale Information Ever.

Starting on the 7th with a wholesale webinar that will make waves.

Over the months and years in this business I noticed that many beginning real estate investors are following the advice to begin with “wholesaling”.

Because that is the best way to get into the game with no money, no credit, and none of the risks that are involved with many other real estate investing strategies.

Plus, a real “wholesale deal” is supposed to close within a few weeks, and you can get paid for your efforts THAT QUICKLY!

Problem is that many beginning “wholesale investors” are confused. They think if they only know the “numbers”, and locate a deal that fits the numbers they’re good to go, and banking day is right around the corner.

Following the common advice of several “wholesale courses” they go out and start “tying up” deals with “Flex Options”. And if that works, they “market” these deals to their “investor network”. (I know the quotation marks are getting annoying…)

The thing that usually happens next is that a bunch of the “investors” from the “network” are responding with the suggestion to put a “Flex Option” on this deal so they can “market” the deal to THEIR “investor network…

Now, don’t get me wrong, creating some form of paper trail that shows that you are a PRINCIPAL in any deal you market is absolutely necessary!

Because otherwise you’d be acting as an agent without a license, and that can get you into trouble real fast.

My point here is that SOMEONE has to dig up an ACTUAL BUYER for any deal that’s going to pay a wholesale or finders fee to anyone.

And relying on the chance that someone on your “network” has someone on her “network” who might know someone who is potentially a real buyer…well that is one of the worst ways to get actual deals done.

The true reality of wholesale investing is the same as in any other buisness on the planet: YOU as the seller has to know what your REAL BUYERS want and need.

Now, we’re not going to give you a new run-down of the kind-of-old “opposite world” strategy (which is finding the buyer first, and doing this by accumulating large amounts of “wholesale investors” – the “Flex Option” people who are NOT REAL buyers!)

No!

In this webinar, we will give you detailed, intimate insight into what a REAL BUYER needs and wants from a real “wholesale deal”. That “real buyer” – you might have guessed it – is someone who has cash (preferably) and/or credit (much harder to do a deal) to actually buy it, fix it and flip it (or hold it).

Meet Joe Rehabber

Joe Rehabber is real. He has done over 20 profitable rehab deals just this year alone, over 250 career total.

He has been active and successful in up-markets, down-markets and sideways-markets.

He will share his story of losing big in the “Savings- and Loan Crash”, and how he had to start from scratch – with no money and horrible credit.

And how he did it doing the only thing he knew: Fixing up houses.

Getting to know Joe will give you invaluable insights into the needs and wants of the REAL BUYERS of your wholesale deals: REHABBERS.

Now, this webinar is completely free, and there will be no selling whatsoever.

It will make a big difference for you to attend.

If you are a wholesale investor,

if you are (or want to be) a rehabber – that’s where the big bucks are made, right?),

even if you are a short sale investor (because some short sales could be what a rehabber needs.)

So, I hope to see you on the 7th.

CA Wholesale Blog

Texas – Produce The Note Challenges

You may also like these posts:

The Short Sale Killer

You may also like these posts:

Commercial Short Sales anyone can do…

You may also like these posts:

Shocking Short Sale Reports – Investors Turn

You may also like these posts:

Short Sale Killer: Elimination Beats Short Sales…

The Big Short Sale Lie

What To Do If Your Short Sales Don’t Work For You?

And here is the info on the solution for you:

You may also like these posts:

The IndyMac – FDIC – One West Bank Short Sale Scandal

You may also like these posts:

How to Get Killer Short Sale Comps

You may also like these posts:

Freedomsoft Review – Who Should Buy

You may also like these posts:

HUD Waives 90-Day Seasoning

You may also like these posts:

Best Wholesale Webinar Ever

You may also like these posts: