Whats up everybody! as usual I hope this message finds you all in the best of health, wealth, and extreme happiness! The message today is SIMPLE so listen up!!
>>>Your Network = Your Net Worth<<<
Here’s the deal everybody… The playing field has been drastically leveled recently with the explosion of social media, social networking, mastermind meetings, meet up groups, and networking events. If you are not taking advantage of these things, then YOU ARE MISSING THE BOAT!
In the past, It was all about WHAT you know, but now its ALL about WHO you know. Ask around to the people who are most successful in any niche of business and they will tell you the same thing, their greatest asset is their network.
It doesn’t matter if you need money to start a business, customers to sell products to, the best independent contractor to use, great minds to bounce ideas off of, or just eyes/ears/mouths to build your brand. You can do ALL OF THESE THINGS if you have a solid network. Trust me, I know personally!!
In the matter of 2 years, I was able to move into a niche of business in which I had NO experience, NO knowledge, NO contacts, NO money, and NO clue what so ever, and created 3 successful businesses which are active in over 20 states, and I can HONESTLY credit my ability to network as the primary reason.
What can you do? You can take advantage of all that is sitting right in front of you (which is usually free to use as well) and start to build you network by being the first one to “break the ice.” Go out and meet people NOW, and stop waiting for them to find you. By the Way–> If you haven’t maxed out at least one Facebook account with 5000 friends yet, start there!
Have an amazing week, and remember, “Wealth is the ability to experience life”
The FDIC strikes back, issuing a Press Release claiming the video contains “blatantly false claims”, “perpetrates other falsehoods” and has “no credibility.” Click here to Watch it Now.
Hey everybody, I have had a ton of people asking me “Kris, why aren’t my short sales working?” and I have to break down what they are doing wrong, etc… The reality of it is that almost EVERYONE is doing the same thing.
THEY ARE NOT DOING THE BPO RIGHT!!!
Here are a few things that I do on my personal deals that seems to work quite well for me:
-I have my Realtor drop the listing price to around the value I am trying to get on the property, and print out a tangible copy of the listing to have right on top. This almost tells the BPO agent subconsciously what the home is worth. Additionally, I have about a half dozen comps, and my prop is the second to highest.
-I have my assistant (you can do this on your own) put together a REO sheet which will show all the local REO’s in the area (which are great comps) and also will help the value decrease if the BPO agent can see what WILL HAPPEN if the bank takes it back.
-I will have a detailed repair sheet with an estimate of all cosmetic and structural repairs. This is typically not a BPO agents forte, so how can they argue with you?
-I also will add into the BPO package the local crime rate (look for recent events that will have a wow factor) and a list of sexual predators (I know, I know, but it is reality) in the immediate area. This actually works well with most agents because the outcome is astounding, and they can understand that these results could prevent the homeowner from getting a lot of offers!
-I include 2 other items as well- a copy of the hardship letter from the homeowner so that the BPO agent realizes the harshness of the situation, and TWO contracts! The higher offer is ours, and the lower is a “back up.” This way it would seem as if our offer is the highest and best.
Hey everybody, I wanted to hit the blog for a second and let everyone know whats happening with our buddy Preston today… If you didn’t check it out last week about the business blueprint, then you have to get on the ball here: http://RedPill.TurnKeyWholesaleBiz.com and at least check out the first training session.
Wholesaling should be a big part your business plan, because with a system like this it is on AUTO PILOT! If you intend on following through with your new years resolution of making 2010 be the sickest year EVER, then you can’t pass up the opportunity to see what is on the horizon!
The Obama Administration officially released the full details of its plan to encourage Short Sales. Basically it gives your seller $1,500 to cover moving expenses. (The banks get $1,000 for each Short Sale they approve.)
To read the the Wall Street Journal’s article, click here.
I would also recommend you take a look at the Treasury Department’s full outline of the program’s guidelines. (Click here to download the PDF) as it’s pretty simple to follow and there’s a lot of good stuff there for Short
Sale investors to know.
One key point is that the Treasury’s guidelines state that the program officially starts in April 2010 but that the banks can start implementing the program right away if they choose!
If you would like to learn how to lock down short sales like a pro, go to Mr3Days Coaching Program, and see the deatails. While you are there check out some of our other rockstar students all over the country!
Everyone has been asking…. Who is getting the end loans to the “C” buyers done with no hassles and no vesting requirements?
1) Rena Lindstrom, Riverside Community Bank 815-654-8039
RLindstrom@riversidecommunity.com
*National coverage based in Illinois
2) John Bennett, Home Lending Specialsts 949-400-4500 Direct
714-832-1078 Office, sheree@hlscorp.com
**California Properties Only at this time
The above lenders are very busy, so please send your clients to them directly. If you need to speak with them, please understand their time constraints and make it brief. If you have any Lenders that you’d like us to add to our list, please let us know!
New Appraisal Law and How it Will Affect Investors
One of the factors contributing to the collapse of the housing market was collusion between appraisers, mortgage brokers, attorneys, and brokers. They were inflating values and creating comparables. A new law came into effect on May 1, 2009 is aimed at stopping that.
The Home Valuation Code of Conduct may have a huge affect on real estate investors. Typically, investors have long-term relationships with mortgage brokers and appraisers because they rely on quick and responsive service to purchase or refinance investment properties.
HVCC essentially removes the ability of a local mortgage broker to choose their own appraiser and moves the relationship management to appraisal management services or the central banks home office.
1) Disables brokers from choosing appraisers or having any contact with appraisers, as these tasks are delegated to lenders. This creates a bias that shifts power to large institutions.
2) Requires independent appraisers to join AMC’s (Appraisal Management Companies) where they are forced to pay 40 percent or more of their income to the AMC, ending the existence of independent appraisers.
3) Since appraisals are not in the broker’s name but the lender’s, if you or your client needs to change lenders, a new appraisal is required.
4) If consumers want to shop their loan, they must pay for a new appraisal; they can’t have an appraisal reassigned. This creates a disincentive to shop for the best deal, which is never good for consumers.
If you are anything like us you would have to agree with this statement:
“Do what you love and you will never work a day in your life”
I just heard thousands of you say:
“UmmmmHmmmm” , “Amen brother” , and “You can say that again”
That being said, we want you to know that we
are here to motivate you to do the things you
have never done, and to take control of you life.
Know that the only difference between where you are
and where you want to be is simply taking action.
What’s that, I don’t have to PAY for advice???
Mr. 3 Days Mail Bag
Mike and I thought this would be kinda cool…
How many times have you been stuck in rut because you
didn’t have an answer to a question, and ESPECIALLY
when there is a few thousand bucks on the line?
Here is our solution:
Along with our traveling “On Location” we are going to
be bringing you questions from the Mr. 3 Days Mail Bag
once a week. These are going to be YOUR questions getting
addressed in such a way that everyone can benefit from it.
SUBMIT YOUR QUESTIONS:
Please click HERE to submit your question, and participate in
one of the ONLY “Q and A” mail bags done by the experts!
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