Real Estate Investing - Short Sale - Foreclosure

Negotiating Other Types of Liens

2009-04-23T00:56:00.000-07:00

There are other types of liens that can be negotiated for a great deal:

Code enforcement liens
IRS liens
Private mortgages (Ex., family members who lent money to the homeowners)

Code enforcement or city liens may not even be recorded yet, so always check in person at City Hall or county records. These liens can be for overgrown grass, unsafe structure, work done without a permit, and more. These liens are definitely negotiable for pennies on the dollar.

In most cases, these liens can be wiped out completely when you can prove that you are buying the home and fixing the problems they are concerned with.

IRS liens are defiantly negotiable, but can be time consuming to short sale. The IRS will often release the subject property and move the lien from the property to the homeowner’s name or to other property. Be sure you don’t waste your time trying to discount the IRS lien only to find out the foreclosure sale beat you to the deal.

Homeowners often borrow money from friends or family in an attempt to keep their home. These people get wiped out every day. When family members lend money they usually do not realize they will get wiped out if the homeowners fall behind again and end up at the foreclosure sale.

Understanding Why Homeowners Want To Work With You

2009-03-27T19:29:00.000-07:00

You have submitted your first offer. Do you have any idea why a homeowner wants to work with you? Take a moment to think about it as your move forward with your deal.

Word of mouth goes a long way when trying to build your business. If you create win/win solutions, you will certainly be the person that is referred to friends, family and even strangers as deals arise. It takes understanding the mind-set of the homeowner, good ethical practice, and willingness to go above and beyond for the homeowner. Many investors have given this business a bad reputation due to their “unethical” practices. Don’t become one of those investors! It feels good to know that you made a difference in the homeowner’s life, and have given them a chance that they may not have otherwise had.

Understanding what motivates sellers will help you determine your process for meeting their need(s). You cannot convince someone to be motivated. First, you have to find out what their motivation is for selling their property and what they want out of the deal. We teach our students to ask, “What are you seeking as a result of my help?” If the homeowners need money, or a car, or want to move closer to their relatives...they will tell you. They may simply need help repairing their credit. Listening to your homeowners will not only show them that you care, but it will help you understand their motivation behind their situation.

Homeowners in distress need real help from someone who is not there to take advantage of them. If you sincerely help people while you are doing this business, you will find that good comes back to you ten-fold.

The Investor's Edge University Membership Site

2009-03-24T17:56:00.000-07:00

We are launching a BRAND NEW member site that will be second to none and we are very excited about it. Just look at PART of what you will receive when you register today…

A F*R*E*E web site for your foreclosure business so that you look professional. Homeowners will love the look and think you are a real pro.
Weekly live coaching and Q & A's with Dwan and Bill.
Weekly training videos covering every topic in real estate.
A "members board" to ask questions and chat with others.
A members "buy & sell" area so that members can buy and sell properties.
F*R*E*E forms, legal documents, contracts, land trusts, and more.
Live bi-weekly training calls with Dwan and Bill.
A F*R*E*E copy of Bill and Dwan's "How to Get Started Investing in Real Estate with No Money Down - Really" training program.
A F*R*E*E copy of Dwan's book "From Denny's to Diamonds."
A F*R*E*E video of "Overcoming Your Fears."
And much, much more!

Visit The Investor's Edge University Membership Site

Finding Unlimited Distressed Homeowners

2009-03-05T19:22:00.000-08:00

WE MAKE A DIFFERENCE IN THE LIVES OF OTHERS…EVERYDAY

You will learn:

How to find unlimited distressed sellers
How to determine your "cost per lead"
How qualify your homeowners 100% of the time
How to sign the proper contracts
What to wear when meeting sellers in person
What to say to homeowners to build trust and instant rapport
How to find deals without spending a dime
SPECIAL BONUS - How to build a buyers list without spending any money
AND MUCH MORE

Each class will be approximately 1 ½ hours in length and will run on March 9th and 10th at 1:00 MST. Even if you can't make the class times, register anyway. You will receive the download to the classes so that you have it forever.

Click Here for more

Bankruptcy, The Banks Worst Nightmare

2009-02-25T21:29:00.000-08:00

The BANKRUPTCY TIMELINE WORKBOOK and the THREE PART SERIES for just $597!

Just register, download your personal Timeline Workbook, and follow along during the complete series. You will notice an immediate increase in your income because you will implement what you learn as you go along.

Here is what you will learn…

Part 1: Understanding the bankruptcy time-line, understand what happens from the first missed payment through the 341 hearing, how do the new bankruptcy laws affect short sales and much more…

Part 2: Learn what to do from the 341 hearing through the granted motions, what happens when homeowners default on court orders, and how to sell a house in bankruptcy. Find out which is best - pulling the house out of bankruptcy or filing for a dismissal and much more...

Part 3: What is the "Motion from Relief of Stay", when homeowners get kicked out of bankruptcy, why Rule 109 (g) is imperative to know. Learn the banks top objections and how to get around them and much more...

This series will change the way you do business. Register now and become a bankruptcy superstar!

Friends, you can't afford to miss this series. Just look at what bankruptcy has done for
Gary Prescott and hundreds of other students…

Gary Prescott - A 2.8 million dollar income - this year - attributed to his bankruptcy knowledge and skills.
He has been using our bankruptcy information for several years and swears by it.
He attributes 90% of his success to his bankruptcy knowledge.
He buys time with banks, stalls foreclosure sales, negotiates amazing deals, and all using bankruptcy knowledge.
What would you do with an extra 2.8 million dollars?

What is stopping you from becoming like Gary Prescott?
Join the 3 part series NOW! REGISTER TODAY!

Buy Now!

Special Birthday Products

2009-02-05T19:35:00.000-08:00

I really enjoyed the call tonight - fantastic questions. The fact that you asked so many great questions shows that you have the right mindset to be successful. I will help you be successful if that is truly what you want.

I know that these are trying times. That is why I am personally going to consult with you for the next 60 days. You will love the new way we consult.

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Web cameras are as cheap as $20 bucks. You simply hook it up to your computer and we start talking. It is that simple. Don't let the idea of technology scare you. I have little old ladies who consult with me. Once they got the hang of it, they became believers - just like you will.

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Special Birthday Bash

2009-02-03T22:26:00.000-08:00

From Dwan:

To celebrate the big day - I am hosting a different kind of training call this week. We are going to have an open call and answer questions you have about anything real estate related.

I want you to bring all deals, bring all questions, and bring your toughest questions. Lets brainstorm and help you close more deals, let's talk about short sales and how to get them closed. Let's put together a business plan for 2009. I'm leaving all topics open for discussion.

She is turning 50.
Register now, do not miss this call. It will be fun, fast-paced, and educational.

We will have 200 lines open. Register now and then BE ON THE CALL! It's that simple. You will learn, you will laugh, and most of all…you will get to wish me Happy 50th Birthday

THURSDAY FEBRUARY 5TH, 2009. 5:00 PST, 6:00 MST, 7:00 CST, 8:00 EST - note the new times.

http://theieu.com/special_birthday_call/

Short Sale Series

2009-01-28T23:34:00.000-08:00

Part 1 - We will cover putting your packages together, you will get 5 deals under contract this week as well as find a title company. We'll discuss how to go to contract, how to get in touch with the Loss Mitigation rep, and much more.

Part 2 - You will submit your 5 deals this week using the first offer. We will discuss and prepare the second offer as well. You need to be on your third offer by next week so that we can close these deals by the end of the month.

Part 3 - This week will be working on getting an acceptance letter and setting a closing date. We'll also discuss some bankruptcy so that you can stall for time if you need to.

Part 4 - This week will be the most fun. We'll cover how to get the deals to the closing table, how to use Fast Cash, and what to do next to build wealth. You will love this series!

Click Here

Communication Mastery Product

2009-01-25T19:58:00.000-08:00

Hi Friends,

Again…another fantastic call from Bill Twyford. He is an amazing speaker and he has such strong communication skills….he is truly a master. I can't begin to explain the importance of GREAT communication skills. Without them, you will be lost. Look at it this way…

When you date someone - you use communication skills
When you apply for a job - you use communication skills
When you travel - you use communications skills
When you speak to homeowners - you use communication skills
When you work short sales with the banks - you use communication skills
When you raise children - you use communication skills
When you go to the doctor - you use communications skills
When you attend parent/teacher conferences - you use communication skills

In other words - every person you speak to, every place you go, ALL day long
- you are using your communication skills.

Whether you are good at communication makes no difference
- communication skills are everywhere!

Knowing that communications skills are a major part of your life - doesn't it make sense to master them? Ever wonder why one person can hold the attention of an entire room while another can't hold the attention of one? It is in the way they hold themselves, the way they speak, their tonalities, the words they use, and more.

Bill Twyford has a once-in-a-lifetime opportunity for you. Register - right now - for his world famous program - COMMUNICATION MASTERY. He is offering this program for just $149. We have never offered this program for this little and we never will again.

Communication Mastery

2009-01-21T23:38:00.000-08:00

Hi Friends,

What a crazy way this year is starting … we are in Iowa and all temperature records have been broken this week. It was actually 29 BELOW zero! BELOW….without the wind chill factor!

How cold is that?

I was standing outside today and my tennis shoes froze to the ground
My nose hairs froze when I walked down the street
Our training center had ¼ inch of frost on the INSIDE!

It's been a crazy week. How has your year started?

The good news for investors is that there are record numbers of foreclosures. It is expected that over 500,000 mortgage payments will reset soon. That is another 500,000 who may not be able to make the new, higher payment.

That means more homeowners who need a fresh start and will welcome the help of an experienced, caring investor - YOU!

I have a SPECIAL surprise for you. Register for the next call, get on the next call, stay on the call until the very end and I will send you a F*R*E*E program!

Not an "E" PROGRAM - A REAL PROGRAM!*

Investors - NOW is your time.

What are you doing to further your education?
What are you doing to find deals?
Are you making the millions that you planned to make?
What is stopping you?

We have all kinds of students who braved the cold to learn…what's your excuse? I find that most investors who complain that they aren't making money either take too many classes and are all over the map or they don't do what their mentors tell them to do.

Friends - if you follow a PROVEN system, you will have the same results. That is why it is called a PROVEN system - it works over and over again.

Are you following a PROVEN system? If you aren't working with us, you aren't guaranteed success. We have been investing for almost 20 years and have done over 1,800 deals. We have taught thousands of students how to make money in ANY market.

Are you taking advantage of our bi-weekly calls? We do these calls to help you be more successful. They are proven, we cover many topics, we answer questions, we even coach by web camera, we are always here for you. If you participate on our calls and aren't successful - you are NOT listening!

We guarantee that you will be successful when you work with us. I want you to register now for the call this Thursday, January 22, 2009 at 6:00 PST, 7:00 MST, 8:00 CST & 9:00 EST.

You are going to receive many emails from every speaker and promoter in the world. We don't want to be promoters, we want to be your mentors. We consider ourselves to be teachers, not promoters. Our goal is to have the most educated students on the planet. Join us for our bi-weekly calls.

This week we are going to discuss - COMMUNICATION MASTERY. I realize that fine-tuning your communication skills may not sound like an exciting topic, but we promise to make it fun! Do you realize that your communication skills make or break your deals? Talking to banks and homeowners is your KEY to success. People who can't negotiate, can't make money in real estate, especially in a tough market like this.

Set yourself ABOVE the rest - learn to negotiate like a pro in just ONE hour! Really - just one hour can change your life. Register now!

I have a SPECIAL surprise. Register for the call, get on the call, stay on the call
and I will send you a FREE program!*

Not an "E" PROGRAM - A REAL PROGRAM!*

I want you to register now for the call this Thursday, January 22, 2009
at 6:00 PST, 7:00 MST, 8:00 CST & 9:00 EST.

Go to this LINK:

http://www.theieu.com/communication_mastery/index.htm

Short-Sale Pre-Foreclosure Investing

2009-01-21T07:41:00.000-08:00

How to Buy "No-Equity" Properties Directly from the Bank -- at Huge Discounts (Paperback)

by Dwan Bent-Twyford (Author), Sharon Restrepo (Author)

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Fed Up Package Product

2009-01-12T18:32:00.000-08:00

Friends, we are putting together an amazing training series for you. You absolutely must register, right now, for this LIVE TWO-PART SERIES ON THE FED UP PACKAGE.

Part One will cover why we use the package, why it works, how to fill out the paperwork, how the loan modification really works, what you can expect from the banks, and much, much more.

Part Two will cover the forbearance agreement, why it works for distressed sellers, what you can expect, how to help sellers over the phone, what the homeowners can do to help themselves, and much, much more.

As our way of saying "HAPPY NEW YEAR" we are offering a deep discount to help you get started on the path to financial freedom.

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Fed Up Package

2009-01-07T23:13:00.000-08:00

Happy New Year! We trust you had an amazing Christmas and New Year. Did you make your resolutions? When I was much younger, I used to make so many New Years' resolutions. Unfortunately, I rarely kept them. I think people should make resolutions they can keep. Most people make the same few resolutions every year…

* Lose weight
* Quit smoking
* Work out more
* Spend less time watching TV

and things like that…

What would work is to make a resolution to gain 20 pounds, smoke two packs instead of one, never go to the gym…in fact…don't even drive by one, watch more TV than ever before…

Now those would be easy to keep .

What I would like to see you do is to write some basic goals and email them to me. Make sure they include the five equities of life - spiritual, financial, family, physical, and mental. Write a few things in each category, post them where you can see them, read them every day, and make them happen.

One of our goals is to help you get through this economic mess and come out on top. The economy is going to get worse this year, so you need to be prepared. 2008 was a mess and 2009 won't be much better. We are not trying to sound like naysayers, but reality is reality and we need to prepare. Chance favors the prepared mind.

REGISTER FOR THE CALL THURSDAY JANUARY 8TH, 2009 AT
4 :00 PST, 5:00 MST, 6:00 CST, 7:00 EST

Fed Up Package

Online Real Estate Investing Program

2009-01-05T07:34:00.000-08:00

Register NOW to receive your FREE online real estate investing program from Bill and Dwan.
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They also want to give you complimentary Investor Profile...an additional $399.00 Value!

Join our team NOW! go to Real Estate Investing - Short Sale - Real Estate Foreclosures

When Lending Guidelines Loosened - The Beginning of Our Current Problems

2008-12-07T17:07:00.000-08:00

As the 2000’s progressed and property values skyrocketed, many banks loosened their lending guidelines to boost the economy. Banks began to allow 50 percent to 60 percent of your income to be used toward a mortgage payment. Most banks offer an 80 percent first mortgage and a 20 percent second mortgage to total what you are borrowing.

For example, if you are borrowing $200,000, you might get $160,000 on a first mortgage and $40,000 on a second mortgage to total $200,000. By borrowing 80 percent on a first mortgage, the banks lessen their risk if you were to default. The riskiest part of a loan is the top 20 percent. If the bank takes the house at the foreclosure sale, it might lose the 20 percent second mortgage, but would recoup the 80 percent first mortgage by selling the house at the sale or by selling the house later via a real estate agent.

Typically, when you have a first mortgage and a second mortgage, the interest rates are different:

The first mortgage offers lower interest rates, typically has less closing costs, and is a 30-year loan. Based on good credit, you might pay a 6 ½ percent interest rate and pay two points. A “point” is one percent of what you borrow. On a $100,000 house with one point, you would pay $1,000 toward closing costs.

A second mortgage usually has higher interest rates, more closing costs, more points, and is a ten-year loan. You might pay nine percent interest and have four points at the closing. If the banks give enough second mortgages, they make a lot in points and interest, and it offsets the mortgages they lose in foreclosure.

Types of Creative Loans - Heloc Loans

2008-12-04T21:36:00.000-08:00

Homeowners love HELOC loans – Home Equity Line Of Credit - because you only pay interest on what you borrow. For example – say you originally bought your property for $125,000. Over the years it has gone up in value - it’s now worth $200,000. Instead of refinancing your property for the $200,000 it is now worth, you take a HELOC loan. You get approved for $75,000. Along with the $125,000 on the first mortgage, you also have $75,000 line of credit.

The great thing about a HELOC is that you only pay interest as you use the money. If you use $10,000 of the $75,000 that you are approved for, you only pay interest and payments on the $10,000 you are using. The bad thing is that people often have a hard time controlling a credit line like that. They use the money to pay off credit cards or buy things and then run the credit cards up again and get back into debt. If you used your line of credit to pay credit cards off, now you owe credit cards and your credit line is used up.

Many would-be investors use HELOC’s to buy rentals. I suggest that you never use your primary residence as collateral to buy investment properties. If things go wrong, you don’t want to lose your place of residence.

It is very easy to get into financial trouble with a loan like this. They are easy to get, payments can be low, and it is tempting to buy stuff with the money. You think, “I’ll just buy this one thing and then I’ll pay it off.” Next thing you know, you’re buying a second thing and the first one isn’t paid off. It doesn’t take long to get out of control.

As the debt builds, you decide to refinance your house to pay off the HELOC. The banks are offering an attractive, low monthly, interest-only loan. Property values drop and now you owe more than your house it worth and - boom – you are in financial trouble.

Types of Creative Loans - Liar Loans

2008-12-03T23:46:00.000-08:00

These loans are killer. They allow a homeowner or an investor to buy a house based on stated income. Investors went nuts over these loans.

Typically, homeowners as well as investors have to prove their income in order to purchase a property. The more you make, the bigger the house you can afford or the more rentals you can buy. Liar loans allow you to buy a property based on what you “state” that you earn. As long as you had good credit, the banks were not asking for much else. I used to make jokes that as long as you could fog a mirror, you could get a loan. Unfortunately, you need to do more than fog a mirror to own a home, but the banks made it so easy.

You might make $50,000 a year and qualify for a $100,000 property. By stating that you earn $100,000 a year and with an interest-only loan, you can buy a $200,000 property. The problem is that you really qualify for a $100,000 property and based on the reality of things, that is what you can afford. Again, you have an emergency and next thing you know, you’re using your mortgage payment money to pay for things. The term “liar loans” is a bit harsh, but it states exactly what it is – people lied to get a bigger house or to buy more rentals.

Types of Creative Loans - Interest Only Loans

2008-11-27T20:17:00.000-08:00

These loans were among the most popular. With a typical payment, you pay principle, interest, taxes, and insurance. The bank takes your full monthly payment and uses the money to pay for the various items. The bank keeps the interest and principle portion of the payment and saves the balance to pay the property taxes and the homeowners insurance when they come due.

These loans were extremely popular with investors because they figured property values would continue to climb and they could collect rent for a few years and then sell the properties for a quick profit. Many investors made the smallest payment possible to get as much cash flow as they could. This is called “pick a payment.”

Unfortunately, it didn’t work out very well. Property values fell, the mortgage payments reset to a higher amount, rent didn’t cover the new payment, investors home mortgage payments also reset, gas prices went up, people moved into cheaper rentals, properties became vacant, and investors started losing their shirts across the country.

The biggest problem with interest-only loans is that people borrow based on the payment. If $725 is the most you can afford, you don’t buy a house with an interest-only payment of $725. You buy a house with a PITI payment of $725. I feel that the lending industry used extremely poor judgment giving loans that people could barely afford with the low interest payment knowing the payment was going to reset soon. Since most of us think in the “here and now”, people weren’t prepared when their payments started rising.

Like investors, many homeowners figured they would refinance their houses when the new payment came due because property values were rising. Unfortunately, property values dropped and people found themselves owing what their house was worth and unable to refinance. The fact that no one could refinance caused a recession. Most of the initial interest-only loans were given with a two, three, five or seven year fixed rates. This is why foreclosures are going to continue to rise – the three, five and seven year loans haven’t reset yet.

Easy Money Home Loans

2008-11-25T21:58:00.001-08:00

In the mid 2000’s, the mortgage industry came up with what seemed like a good ideal at the time – easy loans to boost the economy. These loans were designed to give as many people as possible the chance to live the American dream – property ownership. People are often so focused on owning a home that they are willing to stretch themselves just to do it. This is where is all started to go downhill. Too many people went out on a limb. These creative loans did just what they were supposed to do - boosted the economy. The problem is that no one really thought it all the way through.

It also became very easy to buy investment properties. So many people jumped on the bandwagon and invested in more property that they could actually afford. Many investors went to several different banks at the same time and borrowed from more than one just to buy multiple properties. Without landlord experience, owning multiple properties can be a recipe for disaster.

Bankruptcy – The Banks Worst Nightmare

2008-11-17T21:27:00.000-08:00

Upcoming Free Teleseminars:

Bankruptcy – The Banks Worst Nightmare

TUNE IN THURSDAY NOVEMBER 20, 2008
AT 6:00 PST, 7:00 MST, 8:00 CST, or 9:00 EST

"Bankruptcy - The Banks Worst Nightmare"

As our market changes, bankruptcy is becoming a more important part of short sales than ever before. Many of the Loss Mitigation reps think the government will "bail them out." We see how the bailout is going so far…in the wrong direction.

It is almost impossible to do a short sale these days without some bankruptcy knowledge. You will learn the:

TOP 5 THINGS YOU NEED TO KNOW ABOUT BANKRUPTCY TO SUCCEED IN TODAY'S MARKET

1. How to educate the homeowners about bankruptcy.
2. Which bankruptcy should a homeowner in foreclosure file?
3. How to use bankruptcy as a bargaining chip.
4. When NOT to use the threat of bankruptcy.
5. Rule 109 (g) and what it means to the bank.

Friends, you can't afford to miss this call. Just look at what bankruptcy has done for:

* Gary Prescott - A 2.8 million dollar income - this year - attributed to his bankruptcy knowledge and skills.
* He has been using our bankruptcy information for several years and swears by it.
* He attributes 90% of his success to his bankruptcy knowledge.
* He buys time with banks, stalls foreclosure sales, negotiates amazing deals, and all using bankruptcy knowledge.
* What would you do with an extra 2.8 million dollars?

What is stopping you from becoming like Gary Prescott? Join the call …

THURSDAY NOVEMBER 20, 2008 AT 6:00 PST, 7:00 MST, 8:00 CST, or 9:00 EST

And let us show you how to make a fortune!

Short sales are an important part of today's investing. With 90% of ALL properties having no equity - you can't make money without knowing short sales. Bankruptcy will take your short sale skills to another level…a level that will make you rich.

During the Great Depression, many people came out wealthy. When this crazy recession is over, will you be wealthy or recovering from financial ruin? Let us help you on the path to financial freedom…we won't let you fall through the cracks…

CALL NOW AND REGISTER. WE ONLY HAVE 200 LINES AND THEY ARE ALWAYS FULL!

http://theieu.com/bankruptcy/

What has Happened to Real Estate Prices?

2008-11-16T17:42:00.000-08:00

Back in the late 1990’s and in the early part of the 2000’s banks had tougher guidelines to purchase a property when using conventional financing. Banks would lend you money based on your debt to income ratio and your credit score. Back then, a maximum of 30 percent (sometimes up to 40 percent) of your income could be used toward a mortgage payment. Meaning, if your monthly income is $2,000, you could qualify for a mortgage payment around $600 including principal, interest, taxes, and insurance (PITI). Most investment properties required a 20 percent down payment and proof that you could afford the investment mortgage payment in addition to your residential mortgage payment.

In some cases, the banks would stretch the loan amount allowing 40 percent of your income to be applied toward the mortgage payment.

However; what if you have a car repair, medical bills, need a home repair, need to buy clothes, or anything else? Where does the money come from? What about trying to save for retirement or trying to care for ailing parents?

Sometimes life just takes over, you have a problem, you use some of the money that should be used for the mortgage payment, and next thing you know – you’re one payment late, then two, then three, then the bank files foreclosure papers, and then everything spirals out of control.

Many investors bought rental properties with no landlord experience. When their rentals sat empty, they used mortgage money to keep up the rental payments or worse yet, they spent the rental income for their own bills and fell behind on investment properties, which often ended up in foreclosure without the tenants knowing a thing. Next thing you know, the tenant is being served eviction papers from the sheriff and must move in three days. It would stun you to see how many investors are going under right now – you are not alone.

If you are an investor losing your investment properties – it’s okay. My advice for the future is not to buy any rentals unless you can afford to make the mortgage payments – in addition to your bills - for five months on all your rentals. For example – say you own five rental properties and the mortgage payment is $500 on each. This means your monthly commitment is $2,500 a month. Unless you can afford to pay $2,500 for five months, in addition to all your regular bills, do not become a landlord. I realize that this seems extreme because it is unlikely that all five of your rental would be vacant at the same time; however, it does happen. The great news is that in this program I am going to cover some great ways to turn your rentals into cash flow machines again.

If you look at the average life span, we live to be 75 or so. If you are in financial hardship and it takes you three years to recover, in the big picture, it’s not that much time. When you recover and start over, you’ll have many more good years than bad.

How Did so Many of Us End Up With Underwater Houses?

2008-11-09T22:53:00.000-08:00

If you are like many homeowners today, you feel overwhelmed by what is supposed to be the American dream – home ownership. We have this vision of what it is supposed to be like – cute house, white picket fence, a couple of kids, a dog in the back yard, summer barbeques, family time, and so much more.

We find a house and fall in love with it. We then find a mortgage broker who offers us an amazing deal – zero down or a low down payment or low fixed payments for two-years or something along those lines. We buy the house, move in, and all is right with the world.

Soon, our two-year low monthly payment resets, the payment raises, then it resets again and the payment continues to rise. Now the stress of making our mortgage payment is all we think about and we become disillusioned with our American dream –

The dream continues to crumble when you try to sell your house to get free of the payments only to find that property values have dropped nationwide and you now owe more than your house is worth. Sadly, there are hundreds of thousands of houses on the market that aren’t selling because folks, just like you, owe more than their house is worth.

If you have the time and money, you can wait out the market and sell your property when values come back up. If you are like most American’s, you don’t have the time to wait it out. You want to be relieved of the stress today.

Many of us might be another type of homeowner - real estate investors disillusioned by the dream of getting rich buying and selling real estate. There are so many late-night television shows that make real estate investing seem like a breeze. You bought a property hoping to make some money on it, and now it’s costing you more than you can afford—every month.

The good news is that there are many solutions available that most people don’t know exist. Did you know that you can negotiate with your bank to accept less than you currently owe as full payment? Are you aware that there are government programs that will allow you to rent out your house for three times the current market rents? No matter where you are in your property situation – there is a solution for you.

WHOLESALING PROPERTIES THE NEW WAY!

2008-11-03T21:22:00.000-08:00

Hi Friends,

I am so excited about the call this week. We are going to discuss "WHOLESALING PROPERTIES FOR QUICK CASH."

Many people don't believe they can still wholesale in today's market. Folks…nothing is further from the truth. With over 2 million people facing foreclosure, homeowners need us more now than ever. Everyone is so busy talking about the bailout and how it will or won't help us. I believe the bailout is going to help banks - not homeowners currently in distress.

This is where we come in…WE are the bailout option for the homeowners. We are the ones who can help people get a fresh start. We are the people who will make a difference. But, it won't happen unless WE know what the heck we are doing.

This week, we are going to cover:

WHOLESALING PROPERTIES THE NEW WAY

We'll cover things like:

* How to build a BETTER buyers list
* How to find unlimited sellers
* How to get title companies to close your transactions
* Other options for homeowners
* Loan modifications
* Forbearance agreements

And much more!

Friends, don't miss this call. We spend hours and hours staying up with the market and how to make money, and we want to make sure you are as current as possible.

The call is approximately 1 ½ hours in length and will include a 30 minute LIVE Q & A. Have your questions ready!

6:00 pm PST, 7:00 pm MST, 8:00 pm CST, and 9:00 pm EST

We only have 200 lines and they have been full on every call so REGISTER NOW to guarantee your spot.

Register here: http://theieu.com/wholesaling/

SECTION 8 RENTALS

2008-10-29T23:59:00.000-07:00

Section 8 is government, subsidized housing run by the Housing Authority. Each county has its own Housing Authority. If call Palm Beach Housing Authority, they will give you the number of your local authority.

A typical Section 8 tenant is a single woman with several children. Many times these women are involved in work programs or attending school and are unable to cover their monthly expenses. This is where Housing comes in; the government subsidizes the rent. Some tenants pay a portion of their rent and others have the entire amount covered by Housing.

We find that many investors do not like Section 8 tenants. Personally, they are all we rent to. We are able to screen the prospective tenants, the government pays the rent on time every month, the tenants are locked into a year-long lease and are not able to break it or move, the tenants have to give you notice if they are not going to renew their lease, you can show your property to new tenants if the current ones are not renewing, Housing Authority sends inspectors every six months to see the condition of the property (in some counties tenants have to pay for repairs themselves), you can break the lease if a tenant is not taking care of your property, and the benefits continue!!

How do you find a good tenant? The same way you find any tenant… do your due diligence! You can screen tenants, ask for a deposit, check references, visit their current residence, and more.

One of our rules is that the portion of the rent paid by Housing has to be enough to cover the mortgage payment. We do not want to chase tenants for $100 so we can make our payment. Most of our tenants pay anywhere from $49 per month to $140 out of pocket. If it arrives on the first of the month, great. If it comes a week late, it is no big deal.

It is a good idea to call their past landlord. Not the one they have now, but the one they had before that. The current landlord might be trying to get rid of them and will tell you they are great just to be done with their nightmare.

We always go in to the Housing office and personally speak to their counselor. Each person in the Housing program has a counselor who keeps track of his or her rental history, job history, marriages, kids, and so on. We find the counselors are very generous with information. Many times the counselor has been the person who makes or breaks the deal.

Does Housing pay well? You bet! We find them to be very generous. They pay current rent for each area. It is nice to be able to rent your properties for top dollar and know that the checks will always come.

Whether you plan to rent to a tenant on the Section 8 program or not, always do your due diligence. A bad tenant can sour you to a wonderful business and a terrific way to build wealth!

How To Sell A House When It's Worth Less Than The Mortgage

2008-10-12T19:56:00.000-07:00

Coming, January, 2009