Editor’s Note: This is part 3 in a series of “Competition Killer” video posts that’ll teach you in no uncertain terms how to blow your competition out of the water — SPLOOSH!  These insider tips are compliments of my good friend Shaun McCloskey — a kick-butt short sale guy who’s crushing it right now, closing multiple deals in multiple markets all over the U.S. (at an average per-deal profit of $28,500).  In case you missed them, here’s Competition Killer Part 1 and Part 2 is here. Enjoy!

So look, when dealing with motivated sellers, one crucial element to the success of your deal is ensuring they don’t go “cheating” on you, right?

What I mean is, they gotta understand in no uncertain terms the importance of not working with any other real estate agents, investors, etc, without talking to you first.  You should be their first and only love while you’re together.

But there’s a bit of an art to this, isn’t there?  I mean, you don’t want to make it a personal “thing” that says you’re afraid of a little competition.  And you sure don’t want it to seem like you’re taking a “strong arm” type of approach.

But the simple fact of the matter is this: If I’m truly looking out for the homeowners’ best interest (and I am), then they really need to understand that it’s in everyone’s best interests (not just mine) that they only deal with me and only me from here on out.

In this third video from Shaun McCloskey’s “Competition Killer”, he explains exactly why this is, and how to go about communicating it in an open, friendly and crystal clear way.

You’ll hear a real life story that illustrates perfectly how to do this.  It’s 100% true, and it’s the exact same story he shares on every single appointment he goes on. And better yet, it’s a story you can even have full use of to leverage yourself in your own dealings with sellers.

In other words, please try this at home.  It’s a powerful way to gain a huge edge over your competition in each and every deal.  Enjoy, and share your thoughts in the comments after you watch…

PS – Please share your thoughts on this strategy below.  Also many smart and sexy people have realized that hitting the “Facebook Like” button on this page gets you free promotion.

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Related posts:

• STOP CHASING STUPID DEALS – 7 Rules You Must Follow (Competition Killer, Pt 2) (2)
• Short Sale Guy Gets Personal with Countrywide (15)
• 3 New Rules for Crushing Short Sales in 2010 (8)
• Washington Post: Short Sale Bank Approvals Easier, Faster Than Ever? (11)
• Tom Foolery on a Roller Coaster (6)

Editor’s Note: This is part 2 in a 3 part series of “Competition Killer” video posts that’ll teach you in no uncertain terms how to blow your competition out of the water — SPLOOSH!  These insider tips are compliments of my good friend Shaun McCloskey — a kick-butt short sale guy who’s crushing it right now, closing multiple deals in multiple markets all over the U.S. (at an average per-deal profit of $28,500).  In case you missed them, here’s Competition Killer Part 1 and Part 3 is here. Enjoy!

Tasty Deals vs. Tail Chasers

Welcome – today’s webisode is all about how to quickly assess which deals you should run after and which ones you should run away from.  Said another way, how focus in on the 20% of deals that will make you 80% of your best profits…

You’ll discover…

• How laser focusing on the right deals will make you far more money with the least effort, hassle and frustration possible…
• The 1 giant mistake almost every newbie makes, and how to avoid it…
• How to know the difference between a seller who needs your help versus a seller who truly deserves your help…
• Find out which deal types you should avoid at all costs – even if they’re profitable…
• 7 important criteria to quickly filtering which deals you should invest your time in and which will suck you dry…

Enjoy…and as always, your comments are welcome please…

PS - If you love these videos, then please join me for a live, nothing-held-back webinar with Shaun and I this Tuesday 9/7 — . You can tell from these video, Shaun’s an exceptional teacher, and Tuesday night’s gig will be part teaching, part Q&A with whoever shows up.  Hope you can join us!  Mark your calendar for Tuesday 9/7 at 9pm Eastern (6 Pacific)

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Related posts:

• Short Sale Guy Gets Personal with Countrywide (15)
• How to Stop Sellers from “Cheating” on You (Competition Killer, Pt 3) (1)
• 3 New Rules for Crushing Short Sales in 2010 (8)
• Washington Post: Short Sale Bank Approvals Easier, Faster Than Ever? (11)
• Tom Foolery on a Roller Coaster (6)

REI Truism #37

The simple fact of the matter is, there are a lot of other people out there doing what you do. And while I’m as abundance-minded as the next guy, it still stinks like poopy diapers to watch that crazy awesome deal you (almost) landed, slide sadly out of reach and into the clutches of the next Schlub.  Am I right or am I right?

This is the first in a 3 part series of “Competition Killer” blog posts that’ll help you with this very problem.  Prepare to learn in no uncertain terms how to blow your competition out of the water.  SPLOOSH!

Each of these posts will be a personal video from my awesome friend, colleague and near-brother Shaun McCloskey — a kick-butt short sale guy who’s crushing it right now, closing multiple deals in multiple markets all over the U.S. (at an average per-deal profit of $28,500).

After glimpsing inside his real estate business, one of the top questions Shaun gets asked all the time is, “How is it that your deals seem to go so smoothly, with so few surprises from the homeowner?” or, “How come none of your deals get stolen out from underneath you by other investors?”

Said another way, “How the heck are you keeping your competition at bay?”

And this short series of blog posts represent Shaun’s nothing-held-back answers to that very question — time-tested, proven tricks he’s used for years to set himself apart as the Big Fish in whatever pond he’s in.  Most people aren’t aware or simply ignore them.  Except you, from now on…

But Make No Mistake…

Though Shaun’s specialty is short sales, the sneaky little tricks you’re about to learn can and should be applied to absolutely any real estate investing business, regardless of your niche or focus.  Whether short sales, REOs, Commerical, Landlord, Land, Tax Liens, etc. etc…basically if you deal with people, then this is for you.

So enjoy part 1 below…stay tuned for parts 2 and 3 soon…and please share your thoughts in the comments below afterward…

PS - I love this whole video, but for me, my favorite is the “Listening and Leading” part at the end — where you slyly help them convince themselves to do the deal with you.  Sneaky!

Related Posts..

• Competition Killer Part 2: 7 Rules to Stop Chasing Stupid Deals (How to quickly see which deals to pursue and which are a huge waste of time)

• Competition Killer Part 3: How to Keep Your Seller from “Cheating” on You (How to effortlessly convince help the homeowner understand that you’re not out to get them or take from them, and that you really both have common goals, so they’ll never even think about playing another investor against you.)

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Related posts:

• Tom Foolery on a Roller Coaster (6)
• STOP CHASING STUPID DEALS – 7 Rules You Must Follow (Competition Killer, Pt 2) (2)
• Sneaky Vacant House Tricks That Spook Theives (6)
• Short Sale Guy Gets Personal with Countrywide (15)
• How to Stop Sellers from “Cheating” on You (Competition Killer, Pt 3) (1)

1) Things ain’t like they used to be (I know, understatement of the year, right?)

2) The only thing consistent about this market is inconsistency (constantly moving & shifting)

3) In terms of raw, cash-getting, deal-making opportunity, short sales and REOs rule the day.

So the other day I was chatting with one of my favorite short sale dudes and bestest friend, Shaun “the swan” McCloskey.  He does quite well cranking deals out of a number of different U.S. markets right now.  So I popped this interesting “new market” question on him…

“In your humble opinion, ‘Swan’, what are the 2 or 3 biggest, most important things every investor should know about how to crush it in short sale deals in 2010?”

After pausing only a moment, he spouted off three really solid rules everyone should be aware of and paying attention to right now.  So then I hit the record button and asked him to say it all over again.    You’re welcome.

And now, for your listening and learning pleasure, I proudly bring you…Shaun’s 3 Rules for Crushing Short Sales in 2010…

Press play and listen…

Download audio file (08-10_swan.mp3)

A Few Tasty Morsels From Our 12-ish Minute Chat…

• Why homeowners aren’t reacting as strongly right now (they feel the government is likely to come bail them out)…
• Why eliminating the likely “dead weight” deals up front is more important now than ever…
• Deal Volume Vs. Deal Quality: Which is better in 2010?…
• The awesomeness of what you can accomplish right now with really agressive offers…
• The trend of what banks are willing to accept right now (and how interest rates play into that)…
• Why price is more important than EVER right now…
• Shaun sells about 90% of his houses in 14 days or less (involves the MLS, plus some really creative auction stuff you’ve probably never heard of before)…

“For the Record, Who Is This ‘Swan’?”

For what it’s worth, and in case you don’t know already…

…Shaun’s one of the top short sale dealmakers around…

…He makes out like a bandit actively doing deals, right now in this market…

…He’s got a unique perspective on the nationwide market (because he’s involved in deals all over the U.S.)…

…has MUCH OF VALUE to say about how to make it big in the 2010 short sale arena…

…is one of my bestest friends on the planet…

…is ultra sophisticated and would never be caught dead, playing a fool, wearing a tiny pirate hat.

And Now, 2 Questions For You…

In response to all this, here’s your quick assignment: In the comments below, please share real quick:

1) What’s your biggest, baddest question(s) about making great money doing short sale deals in 2010?

2) What are your biggest FEARS right now about doing great short sale deals in 2010?

In return, my promise to you is that, one way or another, I’ll make sure Shaun answers EVERY one of the questions you guys drop below in the next week or so.  Sound fair?  He’s a friend, so I can pull a favor or two.   So let’s hear it!

PS – Many smart and sexy people have realized that hitting the “Facebook Like” button on this page gets you free promotion.

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Related posts:

• STOP CHASING STUPID DEALS – 7 Rules You Must Follow (Competition Killer, Pt 2) (2)
• Short Sale Guy Gets Personal with Countrywide (15)
• How to Stop Sellers from “Cheating” on You (Competition Killer, Pt 3) (1)
• Washington Post: Short Sale Bank Approvals Easier, Faster Than Ever? (11)
• Tom Foolery on a Roller Coaster (6)

Well regardless of the fact that I freely give away my package of 53 REI forms, I’ve never had a Master Fee Agreement in my Pile-O-REI-Forms up to now.  Not surprising since I’ve never done a bulk REO deal, but still, I figured I’d do a little looking around to see if I can find one somewhere and see what it’s all about.

Score!

I actually zeroed in on two of them.  And what’s better, they’re in the “public domain”, which basically means I can freely pass them on to you guys directly.  (I got mad internet skillz, I tell ya. 

So as I know a number of you guys are watching Kenny’s Bulk REO system launch right now, I figure this’ll be interesting to you at the very least.  After our interview and reading his “Arbitrage Conspiracy” PDF, I’m admittedly intrigued myself.

But regardless of whether or not Kenny’s deal will end up being right for you, I say why not go ahead and download these bad boys and add them to your arsenal of REI forms?  You never know when one of them might just come in handy sometime…

…for that random Bulk REO deal you end up brokering…

…for that random $400,000 cut in hip national bank. 

• Click here to download “Irrevocable Master Fee Protection Agreement” #1…

• Click here to download “Irrevocable Master Fee Protection Agreement” #2…

• Click here to download “The Arbitrage Conspiracy” PDF…
  

And now a question for you…what do you guys think of Kenny’s launch so far?  What are your personal thoughts? Better yet, what do you think of REI product launches in general?  I’d love to hear what you have to say…please comment!

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Related posts:

• Interview: Flipping Bulk REO Packages in 2010 (0)
• How to Cash In On Bulk REO Packages (13)
• The Real Estate Option Contract…Undressed (Plus Free Download) (138)
• The Non-Exclusive, “Flexible” Real Estate Option, Demystified (37)
• The Memorandum of Agreement Explained (Free) (10)

Editor’s Note: This is a follow-up to the recently posted article How to Cash In On Bulk REO Packages – a guest post by Kenny Rushing.  And based on the lively comments in response, this is clearly a topic of great interest to many — and for some it’s a down-right pain button (based on your attempts in Bulk REO arena so far).  So let’s continue the discussion, shall we?…

I mentioned recently I’d be interviewing Bulk REO guy Kenny Rushing to better understand how he pulls down his profitable REO package deals right now, how he deals with the “joker brokers” notorious in the business, where the real opportunity lies today, and how an average Joe/Jane might get started in the same.

I’m happy to say it was a great interview.  Fueled by the a stellar questions you guys asked, we chatted for basically an entire hour together.  It was totally unrehearsed and unscripted – just me, grilling Kenny about his story, and (mostly) about how exactly his business works right now.

Listen to / Download the Whole Interview Here…

I’ve broken down our 1-hour chat into four chunks to make it easier for you.  Just click the “play” buttons below, or if you want to download and listen offline, click the “download MP3″ button. (Note: If it won’t seem to download, try right-clicking and choosing “Save Target As…”)

Bulk REOs in 2010, Part 1 (15:19)
Download audio file (08-10_kenny_rushing_1.mp3)
Download MP3…

Bulk REOs in 2010, Part 2 (14:54)
Download audio file (08-10_kenny_rushing_2.mp3)
Download MP3…

Bulk REOs in 2010, Part 3 (17:27)
Download audio file (08-10_kenny_rushing_3.mp3)
Download MP3…

Bulk REOs in 2010, Part 4 (14:59)
Download audio file (08-10_kenny_rushing_4.mp3)
Download MP3…

Recommended Reading (PDF)…

I spent about half an hour this morning reading through “The Arbitrage Conspiracy”, a PDF Kenny wrote and just published on this very topic.  If this topic interests you and you want to learn more, then I definitely recommend reading it.

Let’s be clear about something: There’s a dual purpose by Kenny releasing this…

Somewhere in part 3 of the above interview, you’ll hear us briefly touch on the system Kenny’s releasing soon on how his Bulk REO business works, and how to follow in his footsteps while the window of opportunity’s gaping wide.

He wrote “The Arbitrage Conspiracy” in advance of this – a strategy to help folks understand in advance the Bulk REO opportunity as it exists today, and help you size up this biz model and see if it’s a possible fit for you.

Only you can be the judge of that.  But personally I found both my interview with Kenny and the “Arbitrage Conspiracy” PDF to be enlightening – he’s a remarkably and refreshingly transparent guy.

Kenny the Phoenix…

This guy was once one of the biggest wholesalers in the country. But when the housing market crashed, his entire business and life came crashing down and almost went completely underwater.

But this is a guy who knows how to use those bootstraps. And in no time flat, he turned his “disaster” around and rose from the ashes right back to the top — this time in the Bulk REO arena.

Now he’s actually making more money than ever before, his business profits are shooting through the roof and he’s spending more quality time with his family.  Thought provoking and inspirational to say the least. And yes, you’ll learn a number handy tips on the wrong/right ways to do Bulk REO deals today too.

If this topic interests you, then watch for more videos from Kenny soon.  And in the meantime, enjoy learning from our interview above, and from “The Arbitrage Conspiracy” PDF…

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Related posts:

• Free Form: Irrevocable Master Fee Agreement (7)
• How to Cash In On Bulk REO Packages (13)

This thing’s releasing to the public Tuesday 10/17.  So while I’m not quite finished yet, I want to go ahead and share my off-the-cuff thoughts so far.  As always, my aim is to help any of my fellow investors who may be sizing it up for yourself…

www.youtube.com/watch?v=3h0owD64Yw8

A Brilliant Marketer for Sure…

As with any course/system/event Preston releases, this one’s being marketed brilliantly.  No one can question, this guy knows how to promote.  He fully embraces controversy (which sells well, btw) and is clearly not afraid to polarize an audience, either for or against him.  Again, brilliant posturing…even his “haters” just give him more press.

But truth be told, I’ve known Preston for around 4 years now.  I’m neither a “groupie” nor a “hater”.  I consider him a friend…but we don’t really “hang”, if that makes sense.

We first met when he approached me back in the day about writing articles for FlippingHomes.com and promoting his $50 wholesaling e-book.  That never happened b/c it conflicted with Steve’s stuff, but we actually did end up joint venturing a Saturday workshop together on Probate deals -- one that he eventually turned into the core content for his eventual probate course.

One Thing I’ve Learned About Preston…

…is this: Love him or hate him, he’s undeniably successful…both in his real estate endeavors and in his online marketing ventures. (Not so much in his love life…but anyway…)

You may or may not like his personal style, his rock star persona, the frequency of his email marketing, or his Texas sized ego…but set all that aside for a second and take a good, hard look at the real guy and the stuff he’s made of…and you’ll see there’s a heck of a lot you can learn from.

Preston seems somehow consistently able to accomplish what most only imagine.  And he usually does it lightning fast, while everyone else is still wondering if it can/should be done.  I’ve always admired this about him… And frankly need to be a lot more like him in that way.

Does He Always Win?

No, of course not.  But when he does win, he tends to WIN BIG.  And when he doesn’t win, he still wins because he’s learned how to extract every bit of value he can from each and every “loss”.

It’s more than just positive thinking…more than just the law of attraction…or persistence…or hard work…or luck…

This is a guy who’s figured out how to grab life by the tail and make it squeal about any way he wants.

Said another way, whether you like the flavor of what Preston cooks up or not, it’s simply undeniable that he’s  a very, very exceptional “chef” of his own life -- and I mean that in a holistic sense (health, financial, spiritual, and relational).

This is exactly where the Red Pill comes from.  And when you take it from this perspective I’ll tell you…Well, I’ve been very, very impress so far.

Is This Right For Everyone?

Nah, of course not.  No product or service is right for everyone.

But I’ll tell you that my honest assessment is that, for me, it totally kicks butt.  I’ve already changed my daily routine because of it and have experienced some positive results to show for it. I love the affirmations…but this is really so much more than just positive self-talk…and I’m looking thoroughly forward to finishing it all the way through.

If you’re considering investing your hard-earned education dollars in The Red Pill (or anything else for that matter), my best advice is to take-in everything you can about it in processing through your decision.  It’s called “due diligence” and it’s just good common sense.

Reading this review was a great start.  Also, if it’s still available, here’s the free module he’s giving away, along with the  “affirmations” I like a lot. You should take them in as well…

See for yourself if his perspective truly resonates with you or not.  It does for me…and again…that’s coming from someone who does NOT automatically endorse all-things Preston Ely.  But what about you? Only you can judge that.

Ultimately, if you do invest in The Red Pill, know that you’ll be protected by a minimum 30-day guarantee. Just be sure you jump into it and start applying what you learn.

Hope that helps!

My best,

Learn More At: WhatIsTheRedPill.com

What’s Your Opinion of Preston Ely and/or The Red Pill?
Please Leave A Comment…

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• Halloween Treat: 3 Dead Gurus (16)
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Editor’s Note: The article below is a special guest post by Bulk REO investor Kenny Rushing. In the next few days I’ll be doing a brief follow-up interview with Kenny on this very topic.  After reading this article, please post whatever follow-up questions you might have about Bulk REO investing, and I’ll do my best to work it into my interview with him!

Cashing In On Bulk REO Packages

By: Kenny Rushing

Buying and selling bulk REO’s is among the hottest real estate niches in the country right now. But this business is only a few years old, so the fact is not many people know how this business works yet.

Lucky for you, I have been one of the few investors in the country who has actually closed bulk REO deals and play in this market everyday. I like doing $1 deals with Bulk REO’s just as much as I do when buying and selling single REO homes. However, I like doing bulk REO deals more because the profit potentials are much bigger.

In addition, the bulk REO business is far less competitive than buying single REO homes from REO agents. Most investors don’t understand how to make money with Bulk REO’s, or they think buying bulk REO packages are too risky.

“Isn’t Bulk REO Investing Too Risky?”

When you buy a pool of bulk REO assets from a bank, you are buying “sight unseen”. This is enough to scare away most traditional investors. Don’t worry, you’re about to discover how to take the risk out of buying Bulk REO’s.

Traditionally, most real estate investors are used to going out and physically inspecting properties themselves. I refer to these people as “touch & feel” investors. However, when you buy Bulk REO homes from banks, “touching and feeling” these homes are impossible to do when you’re contracting to buy 30-500 homes or more scattered across the country. Therefore, you have to depend on others to go out in each local market and inspect the properties for you.

I have been active doing Bulk REO deals for 15 months now. Traditionally, I am a “touch and feel” type of investor like many of my peers and it was hard for me to adapt to buying properties “sight unseen” and not inspecting a property before I contracted to buy. For that reason alone, I had no choice but to develop a system that would allow me to buy and sell Bulk REO deals without ever looking at a single property but still feel comfortable along the way.

“Why Are Banks Selling Off Bulk REOs?”

Due to the U.S. economic meltdown and foreclosure crisis, banks across the country are failing. This has created a unique opportunity to buy properties directly from banks like never before. Today, banks all across America have BILLIONS of dollars in defaulted loans. As I write this report, there are over 1,905,723 foreclosure filings right now. If foreclosure filings continue at this pace we would have exceeded the 3 million foreclosure filings the U.S had in 2008.

When a borrower is in default of their mortgage note, the bank will move to foreclose on their home. The mortgage note is now considered non- performing and becomes a liability on the banks balance sheets. Immediately the bank will hire an attorney to begin the foreclosure process.

In addition to attorney’s fees, if the homeowner in default fails to pay the hazardous insurance policy, the property taxes and neglects to maintain the property, the bank will have to step in and pay those expenses as well.

Some banks have thousands of these properties and the financial burden is enormous. At this point the bank wants nothing more but to get rid of this money pit!

The timeline to foreclose on a property will depend on if the property is located in a judiciary or non-judiciary State as we discussed in the Foreclosure Frenzy article. In a non-judiciary State, the process to foreclose is much faster and can be done in 2-3 months, while in a judiciary State the process normally takes about 6-12 months.

Once the court has issued a “Notice of Judgment” in a judiciary State or a “Notice of Trustee Sale” in a non-judiciary State, the bank will move to sell the property at the foreclosure auction. The foreclosure auction is normally handled by the local Sheriff’s office. At auction, an opening bid on the property is set by the foreclosing lender. This opening bid is usually equal to the outstanding loan balance, interest accrued, and any additional fees and attorney fees associated with the sale. If there are no bids higher than the opening bid, the property will be purchased by the attorney working on behalf of the bank.

If this occurs, and the opening bid is not met, the property is deemed a REO or “Real Estate Owned”. This typically occurs because many of the properties up for sale at foreclosure auctions are worth less than the total amount owed to the bank or lender.

Banks have become accustomed to using this process to sell off foreclosure homes to remove them from their books. These homes are considered “toxic-assets”. Today, due to the U.S. foreclosure frenzy, banks are plagued with these toxic-assets while the courts that handle these foreclosure proceedings are backed up making the foreclosure process take longer then ever before.

With Federal Regulators breathing down the throats of banks to do something about all the defaulted loans on their books, banks are now seeking other non-traditional ways to get rid of their toxic assets……such as selling their non-performing notes and pools of Bulk REO properties to investors.

This new approach of bundling up Bulk REO properties and selling them at steep discounts saves the banks the headache of continuing to pay for the property taxes, hazardous insurance, utilities, maintenance cost and more importantly, removes the toxic assets from the banks balance sheets enabling them to stay in compliance with Federal and State bank regulations.

“What Are Bulk REOs?”

Bulk REO’s are foreclosed properties that banks own. Some of the homes may be currently listed with an Agent while others may not. Banks are not in the property management business. They are in the lending business and want these toxic assets off their books. Therefore, this has created a tremendous opportunity for investors who know how to play in this market.

A bulk package is also referred to as a tape. These tapes contain tens or hundreds (sometimes thousands) of REO properties. A tape is nothing more than an excel spreadsheet list of properties.

“Can I Do $1 Deals With Bulk REOs?“

Yes, in fact you can get started trading Bulk REO deals without any money. Let’s learn exactly how this can be done.

There are several ways to make money buying and selling bulk REO’s. Your options are either:

• Brokering Bulk REO Deals
• Buying Bulk REO Properties from Banks

Brokering Bulk REO Deals…

Brokering Bulk REO deals is much easier to do than buying them from banks. A Bulk REO Broker or Trader (some people refer to them also as Syndicators) acts as a middleman between the seller of a Bulk REO tape and a buyer. It is important to note that a professional license is NOT required to broker Bulk REO deals.

The great part about brokering Bulk REO deals is that you don’t have to use “Cash or Credit” to get started. Nor do you need an office, staff or car for that matter and you can do it part-time from the comfort of your home. Brokering Bulk REO deals only requires that you have a telephone, fax machine and a computer.

1. Computer: Will be used to network with other Bulk REO Brokers, Bankers and Investors online.
2. Telephone: Will be used to communicate offline with the people you network with online.
3. Fax Machine: Used to send and receive all the documents and contracts when doing these deals.

“How Do I Get Started Brokering Bulk REOs?”

The first thing you have to do is understand the role of a Bulk REO Broker so you can find your niche to play. There are two types of Bulk REO Brokers. The first is a Seller’s Rep and the other is a Buyers Rep.

A Buyer’s Rep works exclusively with buyers who are looking to take down tapes. They match their buyers with sellers of Bulk REO tapes and charge a fee for their efforts for finding product for their buyer to purchase.

A Seller’s Rep works exclusively with sellers looking to sell Bulk REO tapes. The seller may be a bank, private equity fund, hedge fund or a private investor. The seller’s rep will get paid a fee for their efforts at finding a buyer to buy the tape from the seller.

Some Brokers work as both buyer and seller reps. The hat they wear will depend on what lead source they have. If they have a source of product for sale, they may become the seller’s rep. If they have a serious buyer of Bulk REO product they may wear the hat of the buyer’s rep.

I have acted as both the buyer and seller rep and made money. However, I prefer to wear the seller’s rep hat because my strength is creating marketing advertisements that sell Bulk REO product. Last month I closed on a small Bulk REO deal and made $25,000 working as a seller’s rep. It only took 4 hours of work to get this deal done.

Let me explain how this deal worked:

• Step 1 – Find The Product
  A Bulk REO private seller called me about a small 24 home nationwide tape he had just taken down from a bank. He was asking $300,000 for the tape.

• Step 2 – Find A Buyer
  I passed on taking down the tape myself but decided to call a buyer I knew who was interested in taking down a nationwide tape. My buyer was very interested.

• Step 3 – Arrange A Conference Call
  I arranged for my buyer and seller to talk about the particulars of the deal. The buyer provided verifiable Proof of Funds (POF) to my seller and the tape was sent to him via email.

• Step 4 – Due Diligence
  The buyer conducted his due diligence in 3 days and moved forward to take down the tape.

• Step 5 – Master Fee Agreement
  The seller and I signed the Master Fee Agreement to pay me the difference between the seller’s price of $300,000 to me and my sale price to my buyer for $325,000.

• Step 6 – Contract & Closing
  The buyer executed a contract and made arrangements to close the next day. Once the funds were sent to my seller’s Title Agent, I picked up a check for $25,000.

The worst part about brokering Bulk REO deals is finding REAL buyers and sellers. Most of my time is spent filtering through the fake buyers and sellers of Bulk REO’s. There are lots of fake buyers and sellers of Bulk REO who care nothing more than to waste your time.

As a Broker you have to learn how to distinguish between the real buyers and sellers of Bulk REO from the fake. There is an art to this and the better you are at it, the fewer headaches you will have, the less time you will waste and ultimately the more money you will make.

~ Kenny Rushing, House Hustler

Got more questions about Bulk REO deals?  Leave your question(s) in the comments below and I’ll do my best to work it into my upcoming phone interview with Kenny!

About Kenny Rushing…

Kenny Rushing is a remarkable tale of a life turned around. A resident of Tampa, Florida who is an evolving account of transformation that is simply extraordinary.  Kenny is best known for the moving story of his humble and troubled beginnings, and his phenomenal success as a real estate investor – in spite of the seemingly insurmountable odds he faced. He is a phenomenally successful real estate mogul, civic leader and devoted philanthropist. His company, Rehabbers Superstore, Inc., now grosses millions of dollars per year through real estate transactions and investments. Kenny Rushing is quickly becoming known for the life transforming impact his uncommon wisdom is having on the lives of those who have benefited from his knowledge, wisdom, training and coaching. His goal over the next five years is to teach 1 million people how to achieve financial independence and flip their life through real estate investing. Kenny Rushing is a living testament that: If KEN Can Do It – So KEN You!

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Anyone who’s ever done (or attempted) a short sale should find this one…well…just watch it and see…

www.youtube.com/watch?v=PisLiFW51mM

Comments?

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At one point or another we’ve all had those lovely, goldenrod, coroplast investments of ours removed or cut in half by the “sign police”, right?  (FYI “sign police = code enforcement)  And occasionally you might even find yourself bitten by a nasty fine or two.

My buddy Tony “Freakin” Severino can relate.  He’s got 15 “sign police” tickets sitting in his desk drawer right now.  Which is precisely what’s motivated him to discover a beautiful, new way to be just a little harder to find.

Tony dropped this handy tip my way in an email the other day, and I immediately asked him to share it with you guys. So we hopped on our webcams to chat about it.

Bottom line: If NOT paying hefty bandit sign fees interests you, then so will this video.  This is a very cool and ridiculously low priced service a number of us will be exceedingly glad to have discovered…

www.youtube.com/watch?v=kbUcQDJYKII

Thoughts?  Please leave a comment below and tell Tony what you think!

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