Reuters is reporting that foreclosures are climbing in 75% of the U.S. metro areas. It seems no community is immune to the continuing roll of the foreclosure tide.

Foreclosures rose in 3 of every four large U.S. metro areas in this year’s first half, likely ruling out sustained home price gains until 2013. Yep…a downward trending real estate market for at least the next three years.

Did you hear that? That noise you heard was the thump of thousands of hopeful Realtors collectively hitting the floor realizing there is no end in sight and the return to the glory days of 5 years ago will soon be a distant memory.

According to the Reuters article, urising unemployment was the main culprit driving foreclosure actions on more than 1.6 million properties.

“We’re not going to see meaningful, sustainable home price appreciation while we’re seeing 75 percent of the markets have increases in foreclosures,” RealtyTrac senior vice president Rick Sharga said in an interview.

Foreclosure actions — which include notice of default, scheduled auction and repossession — in the first half rose in 154 of the 206 metro areas with populations 200,000 or more.

“We’re not going to see real price appreciation probably until 2013,” said Sharga. “We don’t see a double dip in housing but we think it’s going to be a long painful recovery for the next three years.”

Painful??? Not for the opportunity seekers. While I surely empathize with the pain being felt by many, you have to understand that is in times like these that fortunes are made.

Repeatedly for 2 years now I have told you that John D. Rockefeller once said that fortunes are made and the “time to buy is when blood is running through the streets”, but for many the words are falling upon deaf ears. Deaf to the sound of the bell ringing loudly signaling tremendous opportunity.

There is no doubt to this fact. Someone WILL prosper from this foreclosure crisis. Actually many will prosper. But the only question that matters is will you?

Cities with the 20 highest foreclosure rates were all in Florida, California, Nevada and Arizona.

As long as unemployment hovers near 10 percent and unrelenting foreclosures hang over the market, prices cannot stage a lasting comeback. Home prices are about 29 percent lower, on average, than peaks set four years ago.

“If unemployment remains persistently high and foreclosure prevention efforts only delay the inevitable, then we could continue to see increased foreclosure activity and a corresponding weakness in home prices in many metro areas,” RealtyTrac chief executive James J. Saccacio said in a statement.

Foreclosure Filings Are Exploding In New Jersey It’s time to gas up the foreclosure tour bus and head to the Garden State. It seems there’s about to be a firesale in the Garden State. In news just released today, foreclosure filings are up…wait for it…163%. Yep…you read that right, 163%!! Citing research from the state judiciary, the Statehouse …

Still more home-cost declines predicted earlier this year, analysts said they thought home prices had finally reached their low point and were ready to start rising slowly in most areas of the …

Government Programs Only Save 1 Out Of 10 Homes From Foreclosure! “For every borrower who avoided foreclosure through HAMP last year, another 10 families lost their homes,” the panel said of the administration’s Home Affordable Modification Program. “It now seems clear that Treasury’s programs, even when they are fully operational, will not reach the overwhelming majority of homeowners in trouble.”Congressional Oversight …

Foreclosure activity up across most US metro areas The latest figures show the threat of foreclosures is spreading well beyond the top tier of metropolitan areas located in California, Florida, … 

Post from: Real Estate Investing information from Real Estate Radio USA

Foreclosures Rising In Most Major Metropolitan Areas

Citing research from the state judiciary, the Statehouse Bureau reports that foreclosures in New Jersey have doubled in 2010, resulting in a 163 percent increase from 2009.

The influx of filings – a 97 percent increase from 2,066 in 2009 to 4,075 in 2010 – has led to a backlog in foreclosures, the Bureau reports. Though the courts attempt to get through each foreclosure filing within a year, the spike in filings coupled with their current criminal case backlog has made it more difficult for them to meet their goals.

Get your hard money lenders and transactional funding in order, you’re about to see a money making opportunity like no other. Think about it. Tons of foreclosures, tons of people who still need a place to live, relatively high rental market…smells like a perfect storm of profit!

Adding to the demise of the New Jersey housing market is the fact that Jersey isn’t on Obama’s list of states that he wants to help. New Jersey already “fell” to a realistic (read conservative) Governor so Obama’s not putting any money towards New Jersey so don’t look for any government funds coming up I-95 any time soon.

So get your short sale enhanced laptop and pack your bags. We’re going to see a land rush of epic proportions in New Jersey!

See y’all in New Jersey…you coming? Let’s meet over at Da Bada Bing! Eh…

N.J. foreclosure filings double, unresolved cases spike 163 … Jul 27, 2010 … TRENTON — Foreclosure filings have doubled in the last year, … New Jersey Real -Time News stories with the most comments in the last 7 days …

Foreclosures clog NJ courts TRENTON, NJ (AP) — A 97 percent increase in foreclosures is slowing the wheels of justice in New Jersey courtrooms. The state’s judiciary says contested …

Foreclosures Clog NJ Courts  A 97 percent increase in foreclosures is slowing the wheels of justice in New Jersey courtrooms. The state’s judiciary says contested …

Post from: Real Estate Investing information from Real Estate Radio USA

Foreclosure Filings Are Exploding In New Jersey

Now one thing’s for sure, I’m not an Ivy league scholar nor an egg head from MIT but by doing a bit of due diligence here in my own backyard, I could have written that study. However, no one would have believed me. But I bet you see the writing on the wall now don’t ya?

In the study, MIT economist Parag Pathak and Harvard researchers John Y. Campbell and Stefano Giglio conclude that a foreclosure puts a much bigger dent in a home’s value, compared to a forced sale as a result of bankruptcy or the death of the owner.

Mr. Pathak says he’s not surprised that there’s a discount due to foreclosure, but says, “It is surprising that it’s so large,”

A forced sale as a result of the owner’s death chips only 5-7% off the price of the home, and a bankruptcy filing drops the home value by an average 3%, the researchers found.

What’s even more important was the finding relative to other home sin the neighborhood NOT in foreclosure. The study found that merely by having a home in the neighborhood in foreclosure, homes within the immediate area also see their values drop. Can anybody see the need for regression analysis now?

Are you using this kind of data in your short sale negotiations to get the best price? You can bet we’ll be enclosing this study from MIT and Harvard in our packages.

I don’t mind dropping another 50 or so pages in our package on some dimwit bankers desk. I want to make sure he has the right information to grant me the discount that I’m after.

The data is becoming more and more substantive and irrefutable every day. To succeed you just have to know how to present it and be confident doing so.

For all of you Realtors and Investors who have these 3rd party BS short sale mills “negotiating” on your behalf you need to wake up!

They’re not doing the necessary work and you are leaving BIG bucks on the table. They are doing the least amount of work possible to get the easiest possible approval.

My profit is derived from beating the banks into submission and anything I can do to legitimately get the bank to scream “Uncle” is going to be a tool in my toolbox.

So you can bet that knowing this info from Harvard and MIT is going in the mix.

The presence of a foreclosed home in a neighborhood, which can often become a blight on the community, drops the value of all homes within 250 feet by 1%, on average.

How much of a problem do these foreclosures mean to the bank once it becomes an REO? Well the study “suggests that foreclosing mortgage lenders face fixed costs of homeownership, probably related to vandalism, that induce them to accept absolute discounts.”

Time to make some more money! I just love this stuff. Hopefuly you know how to use it to your advantage.

If not, then maybe you really need to hone up on your short sale skills, Then fire that sorry ass 3rd party short sale servicer…today!

Banks Shying Away From Investor Driven Short Sales? No Way!! [Video] I read a comment today by a Realtor that really shows a true lack of knowledge about the business of buying and selling short sales. This Realtor supposedly has a booming business and has allegedly negotiated over 500 short sales. While that may be the case, it really makes me wonder. You … 

Short Sale Tip # 8: The Role of Loss Severity In Short Sales Short Sale Tip # 8: The Role of Loss Severity In Short Sales Do you speak “banker-ese”? If not, you are leaving HUGE amounts of money on the closing table! When performing a short sale you have to be sure that you are negotiating from a position of strength. Do you …

 Top 10 Reasons Realtors Fail At Short Sales Why do Realtors fail at short sales? There are arguably hundreds of excuses, but really only 10 or so REAL reasons. Update: You may also want to find out what happens when short sales fail. 1. Lack of Ability and Knowledge Short Sales for most agents represented the new chic way of …

Report: Foreclosures Reduce Home Values by 27% A forced sale as a result of the owner’s death chips only 5-7% off the price of the home, and a bankruptcy filing drops the home value by an average 3%, …

Housing recovery is about timing and location There have been only 27 of those in the past nine years, said Ron Shuffield, president of Esslinger-Wooten-Maxwell Realtors Inc. And prices could drop …

Home values not expected to improve Most analysts agree that the large number of homes for sale and a rising amount of foreclosure rates will prompt values to drop through next July, …

Post from: Real Estate Investing information from Real Estate Radio USA

Foreclosures Dropping Home Values By 27%

Home prices rose slightly in May compared with a month earlier, appearing to have stablized at the lower levels that followed the end of the residential real estate bubble, according to the S&P/Case-Shiller Home Price Index of 20 major housing markets released Tuesday.

Prices were up 1.3% from April, and 4.6% from 12 months earlier. The news isn’t all rosay as the widespread speculation is that the price rise might have reflected one of the last gasps of the government’s incentive program, which paid tax refunds of as much as $8,000 to homebuyers if they signed a sales contract before May 1.

“It does look like the market was boosted by the tax credit,” said Robert Dye, senior economist for PNC Financial Services. “It seems to have pulled some of the demand forward.”

What do you think the next few months holds for the real estate market?

Consumer confidence dims as home prices advance Single-family home prices rose more than expected in May, still reflecting robust spring sales spurred by now-expired homebuyer tax credits, …

Consumer confidence dims as home prices advance Single-family home prices rose more than expected in May, still reflecting robust spring sales spurred by now-expired homebuyer tax credits, … 

US May home prices gain but no sustained recovery ”There is still a huge amount of supply on the market but sales appear to have improved enough to stabilize prices,” said Christopher Low, chief economist …

 Consumer confidence dims as home prices advance Single-family home prices rose more than expected in May, still reflecting robust spring sales spurred by now-expired homebuyer tax credits, …

Post from: Real Estate Investing information from Real Estate Radio USA

Home Prices Beginning To Show Some Stabilization

It seems like it was yesterday when we heard so many heralding the savior (little “s” of course) of the real estate market. Well it now appears that all of the clamor was for naught as consumers nationwide are seeing very little improvement in the foreclosure rates.

The $700 billion relief package devoted $50 billion toward HAMP in an effort to reduce the monthly mortgage loan payments of many distressed Americans – a move that was expected to curb the number of foreclosure filings. But according to The Hill blog, the number of failed mortgage modifications provided by HAMP far exceeds the number of successful ones.

Here’s an eye opening stat for you…for every homeowner who has received a permanent modification under HAMP, ten homeowners have lost their property to foreclosure. For the math challenged, that’s a failure rate of 90%.

So what’s the big problem? Well it looks like the Government is being tighter with the purse strings than bank are. Of the nearly $50 Billion allocated to the program, only $247 Million has been spent.

What’s going on with the rest of the money? Do Pelosi, Reid and Obama and their henchmen have other plans for the funds? Who knows.

But one thing is for certain…it ain’t getting any better. Economists say that more than 1.65 million foreclosure filings were reported thus far in 2010 alone.

It is estimated that we may just be seeing the tip of the iceberg as studies indicate that we could see more than 3 million foreclosures filed by the end of the year.

Am I happy I know how to perform short sales the right way? Do you? If you do it seems that you are in position to have a lot of business and potential income in the coming months.

If you don’t, well there’s always Walmart.

Government Programs Only Save 1 Out Of 10 Homes From Foreclosure! “For every borrower who avoided foreclosure through HAMP last year, another 10 families lost their homes,” the panel said of the administration’s Home Affordable Modification Program. “It now seems clear that Treasury’s programs, even when they are fully operational, will not reach the overwhelming majority of homeowners in trouble.”Congressional Oversight …

TARP program scrutinized for failing to meet projected foreclosure goals The $700 billion relief package devoted $50 billion toward HAMP in an effort to reduce the monthly mortgage loan payments of many distressed Americans – a …

The New Math Surrounding HAMP Doesn’t Add Up anyone who managed to read headlines around the US Treasury’s latest HAMP report card last week would likely have thought the program a huge success –- with …

Post from: Real Estate Investing information from Real Estate Radio USA

TARP And HAMP Are Not Working

“Given the level of uncertainty about short- and medium-term economic performance, it really doesn’t make sense to jump in unless you have a five-to-10-year horizon,” said Ben Feldman, 44, an independent consultant and a renter in Capitol Hill.

Feldman’s quote comes from an article in the Washington Post that fosters some serious thought for those seeking to sell homes to conventional buyers.

Home prices have proved volatile. After a steady decline from mid-2006, national average home prices climbed more than 6 percent in mid-2009, but they have dipped since then. Overall, prices are off by about a third from peak levels through March of this year.

That follows the huge run-up in prices — a 90 percent appreciation — from the beginning of 2000 to their peak in 2006, according to the S&P/Case-Shiller home price index.

Retail buyers, who have the ability to buy, are waiting. They’re waiting because despite every optimistic message that the NAR tries to put out, the buyers aren’t falling for it one iota.

“You have to be patient,” said Mark Kiesel, global head of the corporate bond portfolio management group at Pimco. Kiesel has been renting since selling his house in 2006 and recently renewed his lease for another 18 months. “You have to stick to the fundamentals. There are more sellers than buyers — it’s that simple.”

So the fence post commercial from the NAR telling people that “now is a good time to buy” is a very weak and ineffective message for today’s buyers who are much more savvy. Dare I say, even much more savvy then those trying to sell them homes.

If you are going to be successful selling a home, well then you actually have to be proficient at err..umm…sales!

Those who have’nt returned to the market yet cite a number of reasons for staying put — cheap rents and still-declining home prices, tight credit and expiration of a popular tax credit to spur home sales, lingering unemployment and rising uncertainty about the economy.

A successful salesperson needs to know how to speak to buyers and resolve the issues that they are concerned about. It’s basic sales 101. It’s called overcoming objections.

But here’s the big problem. If you don’t know yourself what the objectives are, how are you going to become proficient in learning how to overcome them?

Realtors who don’t know how to actually sell are contributing to the further decline in home prices. With the cloudy economic outlook and tightened lending standards, buyers are concerned that the shrinking pool of eligible buyers will pull prices down further.

And no one wants to be chasing the market down. So the question is what can you do to assuage these concerns? Yes, it is your job. But more than likely you are not at all prepared to be the skilled technician that you need to be and thus perpetuating the downward spiral of prices due to complete ineffectiveness.

A prospective homebuyer quoted in the Washingtono Post article had this to say about the real estate market.

“The housing market has not bottomed yet, especially for the high end, as taxes are headed higher, credit remains extremely difficult to obtain and renting remains cheap vs. buying. Supply is still greater than demand, which means prices will likely keep falling. The only place where that’s different is the lower end, because that’s where government has come in to subsidize financing and credit.”

Ok you Realtor’s out there, how to you stand toe-to-toe with this buyer’s sentiment and provide him with information that converts him into a buyer instead of a shopper?

Now there’s a commission earner…I’d love to hear your responses but be forewarned, I’ll be looking to engage you.

Let’s have some discourse!

Post from: Real Estate Investing information from Real Estate Radio USA

When Will Past Homeowners Come Back To The Real Estate Market?

This from the “I Wouldn’t Believe It If I Hadn’t Seen It” file…otherwise know as the are you friggin kidding me section. I get a lot of grief because people say I pick on Realtors too much. But when you see this kind of crap in the news, what’s one to think?

Ok, so I’m using too much of a broad stroke and of course there are some great Realtors out there (y’all satisfied?). But if I can say that, why can’t people be honest and see that there are a whole bunch of ignoramuses (is that a word?) running around with little blue “R’s” on their lapels stinking up the joint. This story underscores my obvious disdain. a handout people? Seriously? Really?

Kenneth R. Feinberg, who was recently appointed by President Barack Obama as the Independent Administrator of the Gulf Claims Facility for the $20 billion BP Deepwater Horizon oil spill compensation fund said Wednesday he’s been besieged by real estate agents and brokers, demanding that they become eligible for payments.

Feinberg said he has heard from many real estate agents and brokers about their lost income, and promised to address their concerns.

“The Realtors and real estate brokers are a major political force,” he said. “I’m hearing from them constantly. I’m not sure whether they have a valid legal claim. I’m not sure they can win if they litigate.

How sorry can you really be? Claiming money from an oil spill fund? Really? Are things that bad that you have to stoop that low? I know what I would do if I was Feinberg.

I would tell them to bring in all of the contracts that they had that didn’t close to prove that they actually lost business and please make sure when you bring in the contracts that you bring in letters and docs showing that the buyers were approved for a mortgage and you were set to close.

But you say..what about the business they might have had? Do we really want to go there? Imputing possibilities and conjecture. I can see it now. “I had a buyer all set and he changed his mind ..so pay me”.

Is there any wonder why the American public has such low regard for Realtors? C’mon, this is bad form no matter how you look at it and it scares me when Feinberg is even being forced to review the insanity of these claims solely because of the fact that the NAR is a “major political force”.

That’s an association that I would want to be a part of.

Post from: Real Estate Investing information from Real Estate Radio USA

Real Estate Agents Trying To Milk Money From BP

Sales of U.S. previously owned homes in June dropped less than forecast, sustained by a backlog of deals that will dry up when a government credit expires.

Purchases slipped for a second month, falling 5.1 percent to a 5.37 million annual rate, figures from the National Association of Realtors showed today in Washington. Transactions will be “very low” in coming months as the federal incentive ends, the group’s chief economist, Lawrence Yun, said in a news conference.

You see what old Larry is talking about is what’s coming down the road. You see he has the same data we do and what’s coming in the months ahead may spell doom for a ton of Realtors. You see while May and June may have been somewhat of a “soft landing”, July’s numbers are going to have people running for the exits.

But just when I finally find some credibility in Larry, I see this crap being said by the NAR prez. Vicki Cox Golder said softer home sales expected this summer don’t tell the whole story.

“Despite these market swings, total annual home sales are rising above 2009 and we’re looking for overall gains again this year as well as in 2011,” she said. “Conditions have become more balanced in much of the country, which is good for both buyers and sellers. However, consumers find it even more challenging to navigate the transaction process, especially for distressed properties, which only underscores the value Realtors bring to buyers and sellers in this market.”

This chick obviously hasn’t tried to buy an REO property or a short sale from one of her underlings. “the value Realtors bring”….well at least Larry’s off the hook. It seems the NAR has another Baghdad Bob as a mouthpiece. Does anyone wonder why Realtors have no credibility…geez.

Let me give you a peek into the despair that’s about to be reality. Thus far here in South Florida, with just a week or so to go in the month, sales are off almost 60%!!!

Did ya read that??? So when Larry from the NAR  said “very low’, I’m not sure even the most ardent Realtor is expecting the numbers to drop off like California into the sea when the big one comes.

Brace yourself folks. Ya better have your life jackets on as it will certainly be women and children first when July’s numbers come out.

If you’re an Investor then you need to get ready to take advantage of the amazing opportunities to buy some seriously discounted deals in the coming months. It’s going to be like Christmas coming early!

Post from: Real Estate Investing information from Real Estate Radio USA

The Reality Of The June Home Sales Numbers

I get emails and phone calls from clients all of the time who want to know how we can tell what a deal really is.

Well,  in addition to the numbers, we have to be able to run down some basic, yet extremely valuable, info on the target property.

Now understand, what you are about to learn, doesn’t get taught in Realtor school, nor at any investment club meeting by any guru.

Why? Because most of the gurus and brokers out there don’t know how to do this themselves. Once you learn this technique, you’ll be armed with the most current, detailed info that will allow you to avoid the landmines in a deal and even allow you to find profit where most did not even know existed.

Take a look at this video and see how easy it is to get the leg up on your competition. And the best part of this technique is that it’s easy, quick and totally f.ree.

Enjoy this video.

FYI, it’s pretty detailed so you may want to click the full screen option to watch it.

Post from: Real Estate Investing information from Real Estate Radio USA

Ninja Property Forensics Made Easy

So today’s big news is that Paris Hilton Topless In Italy. And that’s news? I mean seriously, didn’t she do a home version of Deep Throat a year or so ago? Who cares?

Let’s see, a couple of days ago she gets “detained” for holding some pot, a few days ago she and some friends are toking it up at the World Cup. (Although I can’t blame her on that one…have you tried to sit through a soccer game?)

And now she’s topless on her yacht showing her goods to the frothing paparazzi.

In a series of pictures obtained by Radaronline.com, Paris, who was accompanied by her sister Nicky Hilton, is seen sporting a blue skimpy bikini and white-framed sunglasses. In another shot, Paris took off her bikini top. Besides soaking up in the sun on her yacht, Paris is also seen enjoying jet-ski.

She wrote on her Twitter page, “Just finished racing the wave runners. Now laying out on the yacht top deck enjoying the sun. What a beautiful day!” (Great…have fun…toodle loo)

Neglecting paparazzi, who took pictures of her topless action, Paris boasted about her yacht on Twitter.

“Our yacht is incredible! Has its own pool, hot tub, movie theatre, recording studio, spa/massage room, gym, arcade room, helicopter pad and the most beautiful bedrooms and decor. I’m in Heaven on the water. Definitely the biggest and best yacht everywhere we go. Loves it! Huge,” she posted the message.

I bet you really do love it huge Paris.

Right about now you’re wondering why this is on a real estate blog. I’ll bet you can’t guess…but I’d love to hear why you think we posted this.

Paris Hilton goes topless in Italy Paris Hilton, who was detained in France for possession of marijuana, seems to have forgotten the incident as she was seen enjoying her European vacation, … 

Paris Hilton high on Italian sun, not pot Undaunted by two arrests in one month, Paris Hilton is reportedly having a blast of a summer in Mediterranean waters on board her yacht. …

Post from: Real Estate Investing information from Real Estate Radio USA

Paris Hilton Topless In Italy … And You’re Surprised?

Last week, we told our readers that we were going to construct a deal right in front of you, live without a net at our next REI BarCamp event.

Well the response has been nuts. We have had people who isn’t even in South Florida who want to know how we do it. He wants to fly in from Los Angeles just to see how it’s done.

That’s crazy! He said he took a course for $5,000.00 and could not believe that we would walk people through a deal for fr.ee. But that’s exactly what we’re going to do.

Today, I’m even going to tell you the address so you can see how we do it. Sure, there may be some snakes in our midst who will run out and try to put something together before we do it on Saturday.

But that’s not the point. The point is we’ll still show you how to do it. The target property, except for numbers and such is pretty much irrelevant. The way we put the deal together can be implemented on ANY property.

So let’s begin. Our subject property is located at 713 SW 3rd Place in Dania Beach, Florida. I’ll also tell you it’s slated to be auctioned off on August 31, 2010.

That’s just about 45 days until the bank takes it back. That’s all you need to know right now. On Saturday we’ll show you how you can put an entire deal together and get this short sale approved and sold for some serious coin.

That’s all the info Barry and I need to start with. We don’t know the homeowner, have never met the homeowner and haven’t even talked to the homeowner. Pretty much, other than knowing an address, you know about as much as we do.

However…what can YOU do with this information to make yourself $10,000.00 – $20,000.00 in the next 45 days? Would you even been able to find this information on your own? So what’s your next move?

Well, to find out ours, you’ll have to come to REI BarCamp. It’s definitely something you can afford. It’s completely f.ree! 

Find out more information on REI BarCamp by clicking here.

Post from: Real Estate Investing information from Real Estate Radio USA

How Would You Get This Deal Done?

From the WTF, I can’t believe it and you wouldn’t either if you didn’t see it for yourself BS crap that the National Association of Realtors is perpetrating. If you had reason to mistrust a Realtor before, then your fears are going to be underscored by what you are about to hear.

I get emails, comments, and calls constantly from Buyers and Investors who are just beside themselves from the insanity plaguing the real estate industry. You can read hundreds of comments here about Realtors outright lying to customers.

Now, I’m sure we’re bound to get a bunch of emails from chest thumbing NAR lifers who want to set me straight and there is even a chance I’ll get another call from the National Association Of Realtors legal counsel. (I so love debating with him…he’s actually a nice guy)

But before you want to explain things to me, make sure you read the excerpt below that many are heralding as a symbol of the power of the Rain. (I couldn’t resist…yes, some on ActiveRain are actually taking credit for this bullshit)

Yet no one seems to want to do anything about it. So just when you think it can’t get any worse file, check out what the National Association of Realtors Board Of Directors has ratified an amendment to be placed in their updated code of ethics:

Standard of Practice 10-1REALTORS shall not volunteer information regarding the racial, religious or ethnic composition of any neighborhood and shall not engage in any activity which may result in panic selling. REALTORS shall not print, display or circulate any statement or advertisement with respect to the selling or renting of a property that indicates any preference, limitations or discrimination based on race, color, religion, sex, handicap, familial status, or national origin.

Now I do understand that there is racism and bias in this Country…truly I do understand, but you’re telling me that if I see a house for sale and I call for information, and if they ever pick up the phone and I ask… “Hey Susie, can you please tell me the demographic make up of homeowners in the Pleasant Valley Cove neighborhood“, Susie would have to tell me no?

Are you kidding me? You’re saying to me, go find out yourself, do a drive by, check the freely published census information…do whatever you have to do but don’t ask the person who is actually selling the house…are you serious…really?

I live in a very diverse area here in South Florida. It is home to a veritable melting pot of ethnic groups. And it costs a pretty penny to live in paradise by the beach. But here in paradise you had better be very tolerant or ya just might end up feeling a bit uncomfortable.

Let’s say you’re looking online and you see this gorgeous house in Wilton Manors. You call an agent and you tell them you like the way the house looks. You say that you have 3 small children and you’re looking for a quiet, conservative, family based area. “Susie, would Wilton Manors be that type of area“.

Well Susie, based upon the new NAR guidelines would have to either pretend she didn’t hear the question or she would have to flat out lie to you. And that’s just okay with the NAR. That’s bullshit! That doesn’t avoid steering and discrimination…it makes it worse!

The City Of Wilton Manors, on its own website says what Susie is prohibited to say. “Diversity is the strength of  Wilton Manors.  Children from many different ethnic backgrounds attend Wilton Manors Elementary School; the City’s Police Department employs African-American, Haitian, and Hispanic officers; and the City Commission includes openly gay elected officials. 

For those of you who don’t know, Wilton Manors is an extremely gay friendly town and is known worldwide for its predominantly gay population. And let me be the first to say that it’s a lovely town and I own rental property in Wilton Manors and I absolutely love the restaurants and the community is top notch!

Yet, the NAR now would prohibit a Realtor from telling you that. So instead, if you are troubled by being around Gays and Lesbians you wouldn’t know, would need to make an appointment, bring the hubby and kids down and possibly be put in a very uncomfortable situation which could have easily been avoided by answering one simple question in an honest an open manner.

The City of Wilton Manors is proud and rightly so of its community. To bad the National Association of Realtors isn’t and shame on real estate agents who support this crap and do nothing to help their image with the general public.

Post from: Real Estate Investing information from Real Estate Radio USA

National Association Of Realtors Advocating Lying To Prospective Buyers

We have 13,000 or so Twitter followers but for the life of me I would not be able to tell you if a single one of them have bought one of our products as a result os reading our tweets. Conversely, there haven’t been a whole lot of conversations that I’ve been involved with either.

The whole social media thing has been well, to say the least, a bit of a yawn fest…that is until a couple of days ago. You see lately there has been just one topic of conversation that anyone really gave a hoot about down here in South Florida.

And unless you’ve been in a cave somewhere you know that conversation was about the “Decision”. As a big Miami Heat fan I was all smiles and hi-fives about LeBron James signing with the Miami Heat.

So I was talking to anyone and everyone about it. I even wrote a post about LeBron James signing with the Miami Heat on one of our other sites.

It was then that it struck me. It’s like I was becoming an older and more straight…a lot more straight…like way more straight, Perez Hilton. I became a celebrity gossip hound for a day.

Our site got thousands of visits as a result of the article and my tweet thingy went ballistic! It was then the light bulb went off. On the strength of one tweet and one article I sold a boatload of merchandise and made a good 3 figure sum on my adsense earnings.

Wow…almost a grand on one measly article. Well now I know why. I was talking and conversing to a HUGE audience that had an opinion one way or another about LeBron James. Not just any opinion, but a PASSIONATE opinion.

Since then I’ve experimented with a couple more articles and tweets about stuff that people were passionate about and you know what? In addition to making even more money we garnered a ton of traffic.

So what’s the takeaway…well if you are spending your time talking with the same old people in the same old corner of the room and wondering why social media doesn’t work well maybe you need to change your attention and talk about things people are passionate about.

Here’s a question. Would you want to talk to you? Seriously. When’s the last time you had a conversation about something passionate to both you and the person you were talking to? While I am surely no threat to the guys at TMZ, I now have learned how to easily dominate my local market and some very prime national markets by simply knowing what conversations to engage in.

Trust me, talking about real estate is one of the most boring conversations to have. And maybe only a handful of people at any one time even give a crap about it.

So what are you going to do to get the conversation going to your benefit? Leave a comment as I’d love to know.

And to the Cleveland Cavaliers…sorry ya bunch of losers…it’s game on with the Heat and LeBron, Dwayne and Chris now!

Post from: Real Estate Investing information from Real Estate Radio USA

What Kind Of Conversation Are You Having?

You’re Invited To The First REI BarCamp!

If you’re ready for a real change from the old style guru pitchfest type of investment club meeting then you owe it to yourself to attend our next monthly get together. Check out the video above to see what you missed.

What: REI Barcamp – Fort Lauderdale

When: Saturday July 24th (9am to 4:30pm)

Where: Hyatt Place
                  91 Southwest 18th Avenue
                  Dania Beach, FL 33004
                  Click here for Hotel Information & Directions

Who:Everyone and anyone who is interested in generating profits via the purchase and sale of homes and condos. Calling all Real Estate Investors, Realtors, Mortgage Brokers & Lenders, Title Agents, Appraisers, Home Inspectors, Virtual Assistants, Home Stagers and anyone else in the real estate world (or any other world) who wants to learn how to improve their income through successful real estate investing.

Experience Needed: No experience needed, but if you have successful experience then please come and share your knowledge with all of the participants. A REI Bar Camp is designed to be an open forum for all.

Why:We’re all going to be there to help each other. No gurus. no know it alls…just a group of like minded indivduals and business people who have an interest in networking, learning, and challenging each other to help us all to become better at what we do.

Cost: Absolutely FREE!

Are you interested in knowing how to make money in real estate? I mean 5 to 6 figure paydays on a regular basis type of money.

Do you want to know the strategies and tips that will enable you to realize your goals? Are you tired of going to the same old real estate investment club meetings month after month being pitched to and only being given part of the story?

Well then you need to attend an REI BarCamp!

Before I can tell you what REI BarCamp is, I have to tell you what it’s not.

REI BarCamp is not a convention or seminar designed to make money. It is totally FREE!  Not mostly free, not a free trial, not almost Free. 100% Free.

REI BarCamp is NOT a smoothly disguised “seminar” to sell you something. There is NO SELLING at REI BarCamp. No books and courses in the back of the room, no credit cards needed, no DVD’s or videos for sale…nope..100% free content and discussion about what you need to be a successful real estate investor.

And unlike a lot of BarCamps held in the real estate space, this is not a party or happy hour. The REI BarCamps are pure, white-knuckle, content immersed, events. You won’t leave drunk with alcohol but you will leave intoxicated with money making ideas that will leave your head spinning and a desire to hit the road running on Monday morning!

So now that you know what REI BarCamp is not…here’s what it is:

It’s the “un-conference”, it’s the “anti-seminar”. REI BarCamp is a one day “get-together” of like minded real estate agents and real estate investors who look at real estate as the profit generating commodity that it is.

REI BarCamp is an open an honest discussion of the strategies, tips, ideas and problems of real estate investing in today’s volatile, yet profitable, real estate market.

Anyone interested in making money in the real estate business can attend. However, please understand, this isn’t your everyday real estate investment club meeting. If you attend REI BarCamp you must be willing to be a part of the event.

You’ll speak directly to people who are willing to share their knowledge with you openly and freely. If you don’t have the desire to be an active participant, or if you feel that making money via real estate investing isn’t for you, then a REI BarCamp is probably not for you.

This is the information age and we’re bringing it to the real estate investing industry. No gurus, no slick salespeople, no BS or hype. Just 8 hours of pure content, networking and technological information designed to make you a profit generating force in your market.

Here is one more very unique thing about REI BarCamp. The sessions are NOT presentations, they are CONVERSATIONS. The experts in the room will often give a 15-20 minute talk on a subject to get the conversation going, and then open the room to question and answers.

If you have a question or a statement, ask it. If you have an answer, offer it. If you have nothing to add to a conversation, REI BarCamp is not for you. There are NO attendees at REI BarCamp, only PARTICIPANTS.

What sets the REI BarCamp apart from other technological based Barcamps is that in our events, we will take you through live tansactions from start to finish and let you see how the deals get done.

You’ll hear critiques, see the where the landmines are and most of all you’ll learn how to peel back the layers of a deal to find out how the real money is made.

Participation in a REI BarCamp is going to allow you to ride the elevator to the top! This is the future of real estate investment training and once you participate, you’ll never attend another boring pitchfest disguised as a real estate investment club meeting!

Sponsor Update: If you’re serious about real estate investing you’re going to need a reliable source of money to get your deals funded. We are proud to announce that EquityMax will be on site and participating in REI BarCamp Fort Lauderdale.

EquityMax, Inc.,  is a licensed Florida Real Estate Broker and Hard Money Mortgage Lender, was established in 1990, and has been successfully engaged since in the finding and funding of real estate investment opportunities. This is our 100% focus.

The company is managed by Brad Emmer, Gregory Emmer, and Elly Luechauer. From serving South Florida, at the company’s inception, EquityMax is now engaged in lending and investing nationwide, and real estate brokerage throughout Florida. We have originated nearly 8,000 mortgage loans and have been involved in over 12,000 transactions since our inception.

Over the many years that EquityMax has been in business, there have been dramatic changes in the real estate market and the opportunities associated with it. This is both part of the challenge and excitement inherent in our industry. An observation: There is no time like the present! Today’s opportunities will be gone in a few years.

Our continuous goal: To remain on the cutting edges of the mortgage and real estate industries, to provide the most sound, yet aggressive financing and investment opportunities to our clientele, and to maintain a dedicated staff to meet those needs.

We welcome the opportunity to help our clients achieve their investment goals, and are always open to more effective and creative ways to do exactly that!

Post from: Real Estate Investing information from Real Estate Radio USA

REI BarCamp 2 Has Just Been announced!

*** Before you read about the legality of selling houses that you don’t own, perhaps you may want to watch this quick video and see how we do it…and how we show others how as well. ***

Register For REI BarCamp

Well let me tell you this, your perspective may be impeding your ability to make some serious dead presidents. The guys down at BREIA and namely Dave penned an article about this so I’ll let you read it as only he can say it.

It all started with a phone call from a wholesaler who I have personally known for probably 6 years. He used to rehab when I did but we never actually rehabbed a deal together. Instead, I had sold him a few wholesale properties that he either rehabbed or re-sold as wholesale deals. I haven’t asked him, but I suspect between wholesaling and retailing, he has bought and sold between 135 and 150 properties. 

So I was surprised when he said on the phone that he was confused and needed an answer to a question that he was arguing about with a realtor. The realtor’s contention was that the investor couldn’t sell a property he didn’t own and the realtor wanted proof that some law in Florida allowed it. I suspect that the realtor came across, or discovered that the investor was re-selling a property he had under contract and where the realtor probably had the listing. 

Let me reiterate that the above 150 deals the investor completed, if each one only netted him $10,000, means he has grossed $1.5 million in his short career. He has never had an office other than a spare bedroom in his home and has never been licensed except to drive a car. Of course, he has never had to take continuing education credits or split a paltry 6% commission with two or three other parties. I would say this investor is a success by most standards as he continues to do 2 – 3 wholesale deals a month. 

The fact that the realtor even brought up the issue implies he hasn’t been in the business very long and I suspect will have a hard time making it as a realtor. I say this because the realtor is having a hard time separating the real world from what he learned in the law class at realtor school – the two can be massively different but yet both can be legal in the proper context.

So what is the answer to the question, “Can you sell a property you don’t own?” The answer is a resounding, “Yes and No, but first let’s define what the term “sell” means to the realtor and to the investor: 

In the legal sense and realtor-speak, selling means closing on a property and the proceeds of the sale go to the seller, who is the deed holder or owner of record and usually the property’s homeowner. Even a bank has to foreclose to get title to a property before they can sell it, so obviously you can’t sell something you don’t own.

Otherwise, you could sell your neighbors home and any other property in the county at will, so to speak. Score one for the realtor; he was right about closing on a sale without owning it. I won’t cloud the issue by saying that in California buyers often come to closing before the sellers and close in escrow and if an investor is in the transaction, technically the property has been sold without owning it. But the deed is not transferred until the original seller comes forward and signs the closing documents. 

In the investor sense of the term “sell”, it means that he gets a property under some sort of contract for purchase and sale or option agreement, with the owner of record, and he markets the property and finds a buyer. Some of the largest commercial real estate deals in the world have been because of a simple option contract. The next part seems to be what the realtor is missing. 

The investor doesn’t come to the closing and transfer the property to his buyer without the signed deed transferred by the owner of record. The owner of record or legally authorized representative of the owner of record (probate for example) comes to the closing and transfers (sells) the property either to the end-buyer or to the investor who then resells it to his contractual end-buyer. Either of these two methods of closing are done tens of thousands of times a day in the US – legally, ethically and with realtors involved in many of these sales. Score one for the investor. 

When a realtor calls his client with whom he has a listing and says, “I sold it!” he didn’t sell the property, he simply found a buyer with whom the seller now has to sign a purchase and sale contract, come to closing, close and pick up a check. Because the realtor has no equitable interest in the property such as a partnership agreement, option contract or his own purchase and sale contract with the seller, he is obliged to only make a commission by law.

To receive a commission a realtor has to be licensed by the state and follow rules and regulations that investors don’t even know exist, because they don’t apply to investors. 

The difference between what a realtor does and an investor does is defined by the equitable interest issue and the monetary risk investors take in each transaction. Realtors have no financial investment in the transactions they have listings for with their buyers. If they don’t find a buyer, no loss, no gain, as they are paid by performance. Investors have market and monetary risk on every transaction.

The risk may be as little as a deposit or as large as the full value they pay for the property, but they have risk. If the investor doesn’t make the transaction (wholesaling, rehabbing or buying to rent) work they can lose substantial funds. 

I have heard all the arguments that realtors have overhead, advertising costs, licensing fees, continuing education costs, customer expenses, all of which don’t get reimbursed. Well, it may be shocking to realtors, but investors have similar expenses and they are often many times more if you consider the courses investors pay for.

The difference is that one deal for an investor can be equal to 5 – 50 times what a realtor makes in commission on the same deal. Many investors go broke following their investing dream, many realtors just quit because they can’t make a living – that’s a big difference if it’s your money being lost. 

The big problem with who is right about selling and not owning the property, is that the term “selling” to the investor means marketing the property, finding a buyer for it and putting it under contract to an end-buyer. If the investor has an equitable interest in the property, by contract, option contract or partnership agreement, he is acting within his legal rights. 

Actually, this is no different than a real estate auction house selling a property where they have a contract (listing agreement) with the seller (REO property) and they find a buyer who goes to the closing with the owner of record (REO Asset Manager’s representative) and they get paid. Except the auction house has to be licensed to receive commissions and hence they are licensed realtors. 

The auction house has costs and expenses that aren’t paid unless the properties sell, but they have no market risk in the properties. If they were good at selling outside of hyping the properties to an adrenalin-pumped audience, they would buy them themselves and re-sell to the retail market after they rehabbed the property. Mention that to an auction house and they would laugh and say that they aren’t stupid enough to take that type of risk. This “stupidity” of risk taking is exactly what investors do. 

If you are a realtor reading this, the last REO auction property I purchased had a 36.7% commission that was paid at closing. If you are still thinking 6% commissions, then perhaps you need to learn the insider secrets of how successful realtors legally make the big dollars.

I actually have the closing statement in the documents so you can see the real estate brokerage firm involved and the exact financial breakdown. If you are an investor reading this, the text is a gold mine of ideas to get realtors to legally work with you and not other investors. 

So, was the investor right or was the realtor right? When all is said and done, it depends on how you define the word “sell”. If the realtor thinks he has won, let him think it. While he is beating his chest, the investor is quietly carrying closing checks to the bank and living the American Dream that the realtor can only ever dream about. So in closing, would you rather be right or happy?

I’m for cashing the checks!

Post from: Real Estate Investing information from Real Estate Radio USA

I’m Selling Houses I Don’t Own…And It’s Totally Legal!

However, once you speak with him, you really get a glimpse inside of the man who some believe is making a lot of real estate agents have fits.

Kelman is not one to bite his tongue when asked questions. I applaud him.

From taking a big chance to launch an online real estate brokerage, to dealing with the hysteria afterwards to actually realizing a profit in the face of adversity…he’s a Realtor I’d like to hang out with.

Diana Olick, from CNBC recently interviewed Kelman and this sweet gem was a product of that conversation about the state of the real estate market. I love it. It’s pure Kelman!

“The real estate market is like a fat man that can’t get up. The U.S. government has modified loans, extended tax credits, lowered interest rates; we’ve fired a lot of our guns, and at this point the market is just going to have a long slow period of decline.”

Amen brother!

Too bad the National Association of Realtor’s own version of Charlie McCarthy, Lawrence Yun, could not say something like this. True statements like Kelman’s are not heard from the Bastion of Bullshit known as the NAR.

Instead we get quips like this…”We are witnessing the ongoing effects of the home buyer tax credit, which we’ll also see in June real estate closings,” he said in a release.

“However, approximately 180,000 homebuyers who signed a contract in good faith to receive the tax credit may not be able to finalize by the end of June due to delays in the mortgage process, particularly for short sales.”

Lawrence Yun, NAR’s chief economist, said he expects one more month of elevated home sales behind low mortgage rates and stabilizing home prices.

What else is he going to say? Hey Realtors hang it up and go look for a job? Of course not, he is the real estate version of Baghdad Bob.

Delays in the short sale process? Hmmm…how about championing short sales and mandating that Realtors actually learn how to get them done. How about mandating that if you don’t successfully complete a short sale in the next 6 months that you can’t solicit homeowners? how about making agent publicly disclose their short sale closing rate prior to locking a homeowner in on a horribly one-sided listing agreement?

I could go on and on but I’m sure those of you who are actually making money in real estate know what I’m talking about. Unfortunately, the hacks out there know it too and hide behind the crap that the NAR releases.

Thankfully there’s a guy like Glenn Kelman out there who says what most of us in the business already know to be reality.

The Takeaway;

Investors, hone your skill, market like heck directly to homeowners and make your money that’s there for the taking if you skillfully present your short sale deals to the banks.

Realtors, you can make a lot of money out there if you just take the time to actually learn what it is you need to know to succeed. Anything less is just clawing to survive in a real estate market that holds no future for those whole long for the good ole days!

Real Estate Radio USA Episode 105  On today’s show we talked about the blog post at Redfin that caused an uproar in the RE blogosphere. We were even joined by Redfin CEO Glenn Kelman so he could clear the air about the controversy. We were also joined by Dave “The Shef” Sheffield who talked to us … 

Real Estate Radio USA Episode 146 On today’s show we talked about how some agents are dealing with the stress of this down real estate market and also two hot interviews out of Seattle. The first was with Glenn Kelman, CEO of Redfin and the second was David Gibbons from Zillow.com. All of this and more …

40% Or More Of Homes Sold Are Foreclosures Or Distressed Properties! While actual home sales may have had a modest gain this past month, the gain was bittersweet as it is attributed to the declining prices in many markets across the USA. At least a 40% or more of the homes sold nationally last month involved …

Don’t You Just Sometimes Want To Hide The Fact That You’re An NAR Member? 1 million plus members, many of whom do a good enough job on their own being fodder for the media, do you really need to be paying dues to an organization which continues to be the horse’s ass of trade unions? C’mon, we know that there are more than …

Post from: Real Estate Investing information from Real Estate Radio USA

“The Real Estate Market Is Like A Fat Man That Can’t Get Up”

C’mon, let’s be serious. To make money in real estate you need two things and ONLY two things:

1. Deals To Buy and

2. Cash buyers to sell to.

Sorry to rain on anybody’s parade but that’s all you need. You see, I consider myself to be a marketing guy. I have been marketing for over 30 years. And at one time I got sucked into the vortex of bullshit that is being perpetrated by so many people.

That is until I was enlightened by a guy named Frank Kern who so eloquently stated the one true principle in marketing. (watch the video)

Find out what people want, and then sell it to them!

If I was selling hot dogs, I would find the people who want hot dogs and I would let them know I have the best damn hot dogs in town.

But I guess where people get stuck is in finding the people who want their hot dogs. So they read all the blogs and listen to all the gurus and waste their time on all of the cool time sucks being pushed upon everyone.

You know what I mean..I’m talking about Facebook and Twitter and a half a dozen other completely useless black holes. Now don’t get me wrong. If you want friends and want to network and have a lot of idle time, then Social Media is great. But if you actually want to make money…and I’m not talking about one sale per year, you have to market correctly.

Do you know what the Pareto Principle is? Well this Italian dude said that the wealthy know that 20% of their efforts account for 80% of their income while the other 80% of what they do only accounts for 20% of their income. With that knowledge, business people for the last 100 years have been trying to instill into the mind sof entrepreneurs that you need to focus on the 20% that makes you money. It’s that simple!

It’s only in the last couple of years have people been pushing you to focus on the stuff that doesn’t make you any money. What would happen if you focused your efforts solely on those activities that make you money? Think your income would be higher? Think you would have a lot more free time? I think so!

Before you start talking to me about branding, which is something entirely different, that most never understand…I’m not talking about branding. I’m specifically talking about those activities that directly actually make you money.

In real estate, and specifically real estate investing, you need inventory and buyers. That’s it. You don’t need a brand, you don’t need friends, you don’t need followers and you definitely don’t need points…you guys on Active Rain…that’s for you. I’ll say it again…you only need two things. Deals to sell and Cash Buyers to buy. And what’s really interesting is you don’t need a lot of either!

If you have one or two of each you’re going to be making 5 figures per month. So tell me this…why would you be spending anytime tweeting or facebooking?

Like Frank said…find out what people want and sell it to them and then to make more money, sell them some more!

That’s the key and it works great for Real estate investing. Find a couple of buyers who want deals, find them the deals and keep selling them the great deals. It’s really that simple.

One of my early mentors told me something that I have never forgot and has always rang true. That being… “find and negotiate good deals and you’ll have no shortage of money to buy them and no shortage of buyers to sell them to.”

For over 20 years this has been the precept under which I have operated and it still rings true today and you don’t need Facebook, Twitter or any other social media to make it happen.

Just remember, you’re not a Realtor so don’t market as a Realtor. You see Realtors have the problem of always having to find more people, new people, to sell to.

Imagine owning a restaurant where you sell hot dogs and the people who eat hot dogs, who like hot dogs, and even like your hot dog restaurant …only ate a hot dog once every 5 or ten years? You wouldn’t have much of a business would you? That is, if you couldn’t find new hot dog eaters every month.

Now imagine you owned a restaurant that was frequented by just a few people who ate hot dogs all the time and they kept coming back for more. Which restaurant would you want to own?

You see the real estate business is broken and until Realtors change..they’re going to be constantly trying to find new buyer and new sellers. That’s why they call their marketing farming and prospecting. They need to constantly find more and more listings and more and more homebuyers.

Farming?? Really? I mean can you imagine having to nurture and harvest a new crop over and over again? Well you will have to if you follow the Realtor gameplan.

Now let’s say that you actually want to make money in real estate. I mean consistent and stable 5-6 figure dollars each per month. Do you want to know how to generate that kind of money? Okay, here’s the big secret. It’s a bit of an eye opener so make sure you’re sitting down and have a pencil. Ready for it…here it is.

Spend 80% of your time doing the activities that will allow you to sell to the people who want to buy your stuff.

Frame that, put it on your refrigerator or get a tattoo. Do whatever it takes for you to remember that. Then do it over and over and over. Ok…I don’t want you to think I’m being a smart ass but it really is that simple. When you find yourself doing something, ask yourself immediately, will this help me meet my objective of finding a deal or finding a buyer.

If you can’t successfully answer that question then don’t do it. You have to understand that we have a very defined market. We sell homes as commodities to other people who desire to profit on that commodity. It’s not hard to do at all if you know what you’re doing. So here’s what I want you to do.

1. Download the PDF below called Target Practice by clicking on the image below and then

2. Complete the Questions and the Exercises In The PDF

In a few days I’ll post another video and we’ll move forward with showing you how to concentrate on real estate marketing that actually works.

If you think that this won’t work, then move on. I’m not looking to work with someone who isn’t committed to making money in real estate and as Pareto said, I only want to spend my time on those things that make me money.

If you are not committed to succeeding then you are unfortunately in the 80% of things that I kick to the curb!

Don’t forget to subscribe to our YouTube channel!

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Post from: Real Estate Investing information from Real Estate Radio USA

Real Estate Marketing That Helps You Make Money

Michael is a real estate investor and he told us that he is actually getting deals at great prices but he’s looking to move these properties via assignment of contract. This is a great real estate investing strategy…but what do you do when you don’t have any cash buyers on your buyers list? Well, let’s find out!

So what Michael is looking to do is wholesale his deals to either end buyers or to other investors.

We believe that wholesaling real estate is a great money making strategy but it can be tough if you don’t have a list of buyers to sell to. So what should Michael do?

Well for those investors in Michael’s shoes there are a number of ways to go about building your buyer’s list but they are going to take time.

So if you’re looking to make money in real estate quickly…and I mean in a week or even in a couple of days, there’s one quick way to do so.

Form a joint venture with a real player in your market. Hands down this is the fastest and easiest way to make some quick yet substantial dollars.

It’s so easy that we know some people who only use this strategy. You don’t need a dime of your own money, you don’t need to have any credit…and I mean you can be in bankruptcy and still make money doing this. And you don’t need and real experience.

You will need to know how to fill out a real estate contract and you will need to learn how to execute an assignment of contract, but other than that, you can be pocketing cash days from watching this video.

Here’s how it works. BEFORE you begin putting some contracts out, find out who the whales are in your market. The easiest way to find these guys is to visit your local real estate investment club meeting.

Meet with the owner of the club, and tell him you’re looking to partner up with someone to push some deals to. More than likely he’ll either be interested in the deals himself or he’ll tell you he’ll help you market them.

You’ll then need to find out the criteria that the whales are looking for and you then become somewhat of a real estate waiter. You simply take their stated criteria and go fill the order. The way you fill the order is finding a deal that meets with their objectives. Then and only then do you get it under contract. The next step would be to get your JV agreement in place.

This ensures you get paid at closing. Then you execute your assignment and pick up your check! No marketing, email blasts, no listing..nothing. Your whale JV partner takes care of everything and you pick up a fat check for a few hours work.

It’s the ultimate flipping houses strategy for new investors…and as I said, us old timers use it now and then too! Last Thanksgiving, I was on vacation in Connecticut and I saw a sign in front of a farmhouse. Knowing what to look for it appeared to look like it might be a “classic don’t wanter” situation.

Sure enough it was. So I put it under contract and then had to decide what to do. Being 1,200 miles from South Florida, I waited until after dinner and went online looking for the local real estate investment club and did a little research.

When I got back to Fort Lauderdale I called the owner of the club and talked about my deal. 30 minutes later I emailed him a JV agreement and we had a deal! I sold the deal to him for a quick and easy $5,200.00 profit and I didn’t do anything except drive by a farmhouse while on vacation.

What did he make? Well he bought the property himself and he made a lot more than what I did…but I’ll take $5,200.00 for about an hour’s worth of my time. I bet you wouldn’t have a problem with making that kind of money on vacation either.

So you see, you’ll end up splitting profits on a 50/50 basis but you’ll make some quick cash. For instance, let’s say you found a deal that you can pick up for $40,000 and can sell for $50,000.

Well, you split the 10k profit and move on to the next deal. Don’t get greedy. Just get yourself in a position so you don’t need to split all of your deals.

Make sure however that you do your homework and know your numbers. An experienced cash buyer knows a deal when he sees it. You’re not going to fool anybody and you’re definitely not going to BS anyone so don’t try.

You know, here it is some 20 years later and I still use this strategy from time to time. Even here in my own market. It’s easy, it’s clean and it’s fast money. I’ve been dealing with a guy for nearly 20 years. We may only do one or two deals per year but when I need to move something quick…he can do it in days. (while I have to bite my tongue and keep myself from screaming…sometimes moving a deal in 24-48 hours is really worth it)

So give this a try and then when you have the time and resources to build your own buyers list you can take that task on.

If you want to learn how to set-up joint venture deals for quick and easy profits, check out our REI BarCamp events. REI BarCamps are totally free networking and training sessions.

Click the image above  to see when and where our next REI BarCamp is scheduled and don’t forget to subscribe to our YouTube Channel.

Post from: Real Estate Investing information from Real Estate Radio USA

Need To Make Quick Cash? Try A Joint Venture Deal [Video]

Wholesaler Profit Split – A Trap for New Real Estate Investors? 

If you are thinking about working with a professional wholesaler who is marketing your property to his buyers list and splitting the profit, you need to be aware of one potential serious issue. It is common place for new real estate investors to be able to find a property and get it under contract, only to not be able to sell it timely and lose the deal. 

This potential problem can be solved if the investor diligently builds a buyers list for wholesale deals or settles for having an existing wholesaler show the property to his cash buyers list. Almost always the split on the net profit in these situations is 50% to the original buyer and 50% to the wholesaler. I am often asked to use my buyers list to promote a property for a flat fee but this is almost never done. 

Let’s assume that I run a property to my list of 10,000 local buyers for $1,000. My cost is essentially zero so I could easily clear $1,000 for literally minutes of work. The next issue is who takes and processes the phone calls? If I have to, then the minutes could turn into a couple of hours, so that’s not bad for $1,000, right? But it doesn’t end there because that property becomes a liability to me if the property isn’t what it is advertised and there is legal action from a buyer. Can’t happen you say? Well, it has happened to other investors, and despite all the disclaimers on your email, anyone can be sued and the cost of successfully defending your position can easily be well in excess of $1,000. This is called tainting a list and it can be devastating since good discovery by an opposing attorney will require your surrendering your list. 

What if the seller is only interested in getting the buyers on your list and he essentially lists a property that is so undervalued that the true players on your list can’t resist calling and giving up their info? This is called vacuuming your list and it works very well. Nothing much illegal since you consented to selling your list. If you think that your major buyers (whales as I call them) are going to stick with you while other investors are calling or showing them better deals, you are sorely mistaken. These whales didn’t get rich by giving money away, or as they say “a fool is soon parted from his money”.

So let’s say that as a new investor you get a deal and decide to call a major wholesaler and see what kind of deal you can work. If he says anything more than a 50%/50% split, call more wholesalers until you find one that is more reasonable. The hard part of selling wholesale properties is usually getting the property under contract in the first place, not selling it if it is a deal. If the wholesaler tells you that his buyers remain his and if you do a deal with one, you have to split any future deals with him or even give him a referral fee, go to the next wholesaler. 

I believe one hidden trap that hurts many new investors is determining the sales price, which the wholesaler will do with you or maybe “to you” if you aren’t careful. You already have some idea of after repaired value (“ARV”) since you needed that to make an offer to the original seller. You should be making a $5,000 to $20,000 spread on each deal, not a measly $1,500 to $2,500 because too much is being left on the table, and often the wholesaler is the buyer so you are actually an investor being paid at bird dog rates. A “Bird Dog” is anyone who refers a deal to investors – you see the investor’s business card reading “$500 referral fee to anyone bringing me a property….” 

A good guideline for closing is; if the profit is $20,000 or more, do a double closing. If the profit is less than $20,000, assign your contract. This is to make sure your seller doesn’t get seller’s remorse and your buyer balks because you are making too much on the deal. Even whale buyers will sometimes grump and groan that you made too much. One time a whale told me I should be making $2,000 to $3,000 a deal when he found out I had made $20,000 on a property I sold him. I almost lost him as a buyer because he was very upset that I had taken advantage of him! 

Once you have picked the wholesaler you trust, get a signed Partnership Agreement as quickly as possible. This should state the terms of what to expect and the percentage of the net profit to you and him. This is not the end of the process even when the property is sold and set for the closing. What I frequently see is that the wholesaler sticks to the terms of the agreement as far as the “net” profit is concerned but he slips in another party to the transactions, or in a recent case, two additional payees. His claim is that they brought the buyer in through their email list. There was a $10,000 profit that should have been split equally, but instead was much less. 

The math was simple for the wholesaler; the net profit of $10,000 minus the other “invisible” partners who brought their buyer of $4,000 ($2,000 to each one) leaves $6,000 net, so the new investor’s check was $3,000. When I saw the closing statement in this case I was upset because I had heard this wholesaler had done it to other new investors before and I had assumed it was a rarity instead of a fact of his doing business. I can’t even be sure these invisible partners were anything but his office help! 

In summary, if you are going to be real estate investing and wholesaling properties for quick cash, do not depend on other people’s buyers list. Make your own list as quickly, and persistently, as you can so some time in the near future you too can be marketing properties to your list that other investors have brought to you.

If you’re active or want to participate in South Florida real estate investing and you’d like to learn more how to get statrted or improve your existing business, then join us at REI Barcamp. Check out the information on it here or by clicking the image below.

Post from: Real Estate Investing information from Real Estate Radio USA

Broward County Real Estate Investing Information

You’re Invited To The First REI BarCamp!

What: REI Barcamp – Fort Lauderdale

When: Saturday June 19th (9am to 5:30pm)

Where: Hyatt Place
                  91 Southwest 18th Avenue
                  Dania Beach, FL 33004
                  Click here for Hotel Information & Directions

Who:Everyone and anyone who is interested in generating profits via the purchase and sale of homes and condos. Calling all Real Estate Investors, Realtors, Mortgage Brokers & Lenders, Title Agents, Appraisers, Home Inspectors, Virtual Assistants, Home Stagers and anyone else in the real estate world (or any other world) who wants to learn how to improve their income through successful real estate investing.

Experience Needed: No experience needed, but if you have successful experience then please come and share your knowledge with all of the participants. A REI Bar Camp is designed to be an open forum for all.

Why:We’re all going to be there to help each other. No gurus. no know it alls…just a group of like minded indivduals and business people who have an interest in networking, learning, and challenging each other to help us all to become better at what we do.

Cost: Absolutely FREE!

Are you interested in knowing how to make money in real estate? I mean 5 to 6 figure paydays on a regular basis type of money.

Do you want to know the strategies and tips that will enable you to realize your goals? Are you tired of going to the same old real estate investment club meetings month after month being pitched to and only being given part of the story?

Well then you need to attend an REI BarCamp!

Before I can tell you what REI BarCamp is, I have to tell you what it’s not.

REI BarCamp is not a convention or seminar designed to make money. It is totally FREE!  Not mostly free, not a free trial, not almost Free. 100% Free.

REI BarCamp is NOT a smoothly disguised “seminar” to sell you something. There is NO SELLING at REI BarCamp. No books and courses in the back of the room, no credit cards needed, no DVD’s or videos for sale…nope..100% free content and discussion about what you need to be a successful real estate investor.

And unlike a lot of BarCamps held in the real estate space, this is not a party or happy hour. The REI BarCamps are pure, white-knuckle, content immersed, events. You won’t leave drunk with alcohol but you will leave intoxicated with money making ideas that will leave your head spinning and a desire to hit the road running on Monday morning!

So now that you know what REI BarCamp is not…here’s what it is:

It’s the “un-conference”, it’s the “anti-seminar”. REI BarCamp is a one day “get-together” of like minded real estate agents and real estate investors who look at real estate as the profit generating commodity that it is.

REI BarCamp is an open an honest discussion of the strategies, tips, ideas and problems of real estate investing in today’s volatile, yet profitable, real estate market.

Anyone interested in making money in the real estate business can attend. However, please understand, this isn’t your everyday real estate investment club meeting. If you attend REI BarCamp you must be willing to be a part of the event.

You’ll speak directly to people who are willing to share their knowledge with you openly and freely. If you don’t have the desire to be an active participant, or if you feel that making money via real estate investing isn’t for you, then a REI BarCamp is probably not for you.

This is the information age and we’re bringing it to the real estate investing industry. No gurus, no slick salespeople, no BS or hype. Just 8 hours of pure content, networking and technological information designed to make you a profit generating force in your market.

Here is one more very unique thing about REI BarCamp. The sessions are NOT presentations, they are CONVERSATIONS. The experts in the room will often give a 15-20 minute talk on a subject to get the conversation going, and then open the room to question and answers.

If you have a question or a statement, ask it. If you have an answer, offer it. If you have nothing to add to a conversation, REI BarCamp is not for you. There are NO attendees at REI BarCamp, only PARTICIPANTS.

What sets the REI BarCamp apart from other technological based Barcamps is that in our events, we will take you through live tansactions from start to finish and let you see how the deals get done.

You’ll hear critiques, see the where the landmines are and most of all you’ll learn how to peel back the layers of a deal to find out how the real money is made.

Participation in a REI BarCamp is going to allow you to ride the elevator to the top! This is the future of real estate investment training and once you participate, you’ll never attend another boring pitchfest disguised as a real estate investment club meeting!

Sponsor Update: If you’re serious about real estate investing you’re going to need a reliable source of money to get your deals funded. We are proud to announce that EquityMax will be on site and participating in REI BarCamp Fort Lauderdale.

EquityMax, Inc.,  is a licensed Florida Real Estate Broker and Hard Money Mortgage Lender, was established in 1990, and has been successfully engaged since in the finding and funding of real estate investment opportunities. This is our 100% focus.

The company is managed by Brad Emmer, Gregory Emmer, and Elly Luechauer. From serving South Florida, at the company’s inception, EquityMax is now engaged in lending and investing nationwide, and real estate brokerage throughout Florida. We have originated nearly 8,000 mortgage loans and have been involved in over 12,000 transactions since our inception.

Over the many years that EquityMax has been in business, there have been dramatic changes in the real estate market and the opportunities associated with it. This is both part of the challenge and excitement inherent in our industry. An observation: There is no time like the present! Today’s opportunities will be gone in a few years.

Our continuous goal: To remain on the cutting edges of the mortgage and real estate industries, to provide the most sound, yet aggressive financing and investment opportunities to our clientele, and to maintain a dedicated staff to meet those needs.

We welcome the opportunity to help our clients achieve their investment goals, and are always open to more effective and creative ways to do exactly that!

Post from: Real Estate Investing information from Real Estate Radio USA

You’re Invited To The First REI BarCamp!