Real Estate For Fun And Profit

The Housing Mortgage Market Review came out this month – you can see the original at http://www.pmi-us.com/PDF/may_10_pmi_hammr.html

Home sales rose in March.  The main reasons given are the homebuyer tax credit, rebound from the bad weather during the winter months and a better outlook for jobs and demographics. 

I expect that April sales looked good as well, though I am doubtful that this will continue into May.  Since the homebuyer tax credit ended in April, I expect that May sales will have fallen.  I also think that the continued turmoil in Europe is going to have an affect in the overall economy here and that will affect house sales.

It is also expected that house prices and interest rates will remain unchanged through this year. 

The chart that I found most interesting showed the percentage of mortgages that are ‘seriously delinquent’ (pg 5).  The trendlines on this chart show that more and more mortgages are headed into foreclosure – a trend which will definately hold down the housing prices in the future.

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Is the competition among real estate investors getting intense in your city? Do you wish there was a way to reduce the competition, and increase the profits per deal?

There is a way. I’ve found America’s foremost expert on multi-family real estate investing, without dealing with tenants. His name is David Lindahl.

Register For Webinar Now!

Up until now, the problem has been that everyone wanted the profits that apartment buildings could create, but nobody wanted to deal with tenants.

Dave Lindahl has “cracked the code” on getting apartment-sized profits, without the tenant headaches. David currently owns over 7,020 units around these United States, and he hasn’t spoken to a tenant in over 6 years!
Dave is going to be my special guest on Thursday July 23rd for a special, invitation-only teleseminar. He has agreed to share with us the secrets that have made him wealthy, starting from scratch. Secrets like:

• How to buy apartments with no money down;
• How to afford property managers, even for small properties;
• How to profit in the current “Mortgage Meltdown Era”;
• What’s the truth about tough neighborhoods, and dealing with tenants that do drugs or belong to gangs;
• The 4 Market Cycles: Learn how to easily know what stage of the market cycle you’re in at any time, in any area, for any type of real estate.

In every city in America there are apartment buildings. That wouldn’t be the case if all those owners were losing their shirts. While failed landlords like to whine in public, the rich apartment investors quietly count their cash. Dave Lindahl is going to reveal the other side of real estate investing…the hands-off, system-based, high cash flow side.

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Jeff Kaller has personally negotiated over 400 short sale and preforeclosure properties. With partners, various business people, as well as his team of loss mitigators, Jeff has lost track of how many deals they have done together, but suffice to say, it’s a lot more. Too many to count.

In the last seven years alone, Jeff has trained well over 100,000 people in live seminars how to do short sales and preforeclosures. Probably tens of thousands more on the Internet. His training is considered by many to be top notch.

To date, Jeff has negotiated DOWN over $1 Billion dollars in debt with banks and lenders on behalf of the seller. That’s no easy feat.

Donald Trump, (who’s no slouch when it comes to research) stated unequivocally, even at one of Jeff’s live events, that Jeff is “the best in the business” at what Jeff does. Ron LeGrand, the granddaddy teacher of the real estate investing business, says the same.

Jeff is grateful for their endorsements.  Register Now!

To date, through his student’s efforts and his own, over 1 million families have been saved from the indignities of foreclosure. Given our current economy, with your help, Jeff’s goal, his mission, his crusade is to save 1 million families more from foreclosure this year.

With your help, as well as others like you, he believes it can be done.

Jeff has the financial wherewithal to get deals done. He has up to a $20,000,000 short term warehouse line of credit for deals he is personally involved in.

The bottomline you should get from this is he walks his talk. Jeff and his wife Sofia, as well as the rest of the his team work this business every day… and they love it.

It’s very rewarding… financially, as well as emotionally… they get to help families facing foreclosure–that juices them, especially right now when the country needs us most.

Please join Jeff in his crusade to save 1 million families from foreclosure

Register now for the Turn These Economic Times To Your Advantage webinar series to see Jeff on Thursday night!

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…it is not too late to get caught up. Quick, while
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Once you are registered, follow the instructions to
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The economy today is so different than it was 2 years
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Tony Youngs was great last night!

Here are some of my notes from his presentation:

• Tony revealed 7 ways to profit from properties that are in foreclosure
• Tony talked about the ‘Ghost Inventory’ – the properties that the banks have gotten back from foreclosures but have not yet listed.  There are over 700,000 properties in this ‘Ghost Inventory’.  The banks are afraid to list them all because the resultant glut on the market would drive all prices down dramatically.  Tony talked about how to find these properties and how to buy them
• Tony talked about the ‘Hidden Market’ – those properties that are not listed and nobody knows they are for sale.  Again, he revealed how to find these and how to buy them
• He also talked about what to do with the properties once you have bought them.  He gave options for when you don’t have the money to close, when you want to own for a short time and also when you want to hold long term but maximize your investment.

Register Now!

The replay will only be available for a few days.  Go NOW!

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Have you called your Senator? LC Kelly sent me a script of a great conversation that she had with one of her Senator’s staffers. Click the link to get and get motivated!

Even though I reported that Senator Dodd is indicating this bill will die in committee, you should still call. The Senator could change his mind, or he could have been misquoted. Also, the folks in Washington DC need to hear from us or they will pretend to know what we think.
Give them a call!

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Yesterday, I sent out an email to a bunch of folks expressing my concerns about this bill. My broker forwarded my email to a contact who is involved in lobbying for the National Association of Realtors (NAR). I don’t have permission to post the entire response, but I will give the synopsis.

It looks like this bill will die in committee because it is not a high priority item for Senator Dodd (chairman). Dodd’s comments appeared in a May 28th release of Inside Regulatory Strategies and these comments indicate that he believes that the collapse of the sub-prime mortgage market has reduced predatory practices and 1728 is not really needed at this time.

Evidently, the original language in the bill caused real estate agents to be classified as ‘mortgage originators’ as well as ALL sellers who provide seller financing. NAR was involved in getting the current language to both exclude real estate agents and to provide some exclusion for sellers who provide financing (the 1 in 36 month exclusion).

It sounds like NAR supported seller financing, but could not convince the bill writers to provide a complete exclusion.

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There is quite a bit of email being sent regarding H.R. 1728: Mortgage Reform and Anti-Predatory Lending Act (see it yourself). Wendy Patton describes it here.

Bill Bronchick started a thread over at CRE Online stating that he did not think investors had anything to worry about regarding the bill.

Unfortunately, in the followup thread started by James (James 17:16:43 06/09/09), Bill (William Bronchick 11:43:47 06/11/09) reveals another side with the comment:

Licensing, in my opinion, is a good thing. It weeds out competition so I can charge more for my houses. Getting licensed is not that big a deal, a surety bond only costs a few grand. If you don’t want to be licensed, then have a licensed originator do it for a small fee and charge that to the buyer. In fact, you’ve given me an idea – I will get licensed in my state and charge others $1,000 to draft a few documents!

So we went from ‘no problem’ to a limited number of people with licenses (or an extra expense) being able to use seller financing.

Disappointing!

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