CLIENT: This is a person who just recently purchased the Mastering the Art of Finding Great Deals (about 3 weeks ago) and told me there just weren’t any good deals out there to purchase. He was ready to give up. He read through the material fast and then thought he would make his fortune over-night.
TIP: I [...]
If I ever go postal, it is home inspectors I will be shooting. I don’t mean the building inspectors that the county hires to inspect construction, they are a necessary evil. I mean the latest trend in home buyer protection – the guys who go out and tell you all that is wrong about the [...]
Last month, we considered the plight of Mr. Rice, a real estate broker who unwittingly qualified as a “foreclosure consultant” under California’s Mortgage Foreclosure Consultants Law (California Civil Code section 2945, et seq.). Mr. Rice’s inadvertent qualification as a foreclosure consultant was largely a result of the extraordinary breadth of the statute.
The penalties for failing [...]
I just wasted over two weeks of my time preparing for a real estate auction, where I did not buy a single property. Looking back, would I do it again? Unbelievable as it may sound – the answer is YES.
I originally heard of this auction through a local real estate agent. I was calling on [...]
I have now worked for Foreclosures.com for over 4 years as a Senior Consultant and as a result talk to a lot of our clients on a daily basis regarding their plans to be successful in buying properties at a discount. The following are some thoughts that will help you in your property buying business.
1. [...]
I have ruined three great deals by: one, over-rehabbing; two, under-budgeting the rehab; and three, getting caught by a low bid that was not properly contracted. Fortunately for me, I’m a quick learner, and I have yet to make the same mistake twice. But rehab is where the deal is made. Buying property cheap is [...]
In 1979, California enacted significant protections for people in foreclosure. The legislation regulated home equity sales contracts (Civil Code section 1695, et seq.) and foreclosure consultants (Civil Code section 2495, et seq.).
A recent case illustrates the breadth of the protection provided by this legislation and the disastrous consequences that can result from a failure to [...]
The postcard can be an effective way of advertising your services, provided you follow some simple rules. Many of you are prospecting with the postcard only. This approach can work, but you will have a difficult time if this is the only method you are employing, especially if you are focusing on “heavily worked” areas [...]
The note investment industry has gone through some dramatic changes over the past year and a half regarding its underwriting requirements to qualify a property for a “Simultaneous Close” note purchasing transaction. Known as “table funding” – this is when an owner of a property sells both his property and the seller carry-back note that [...]
The Federal government is finally getting serious about the fraud and corruption within the housing industry. Effective in September, 1999, new regulations require more stringent condition standards and disclosure to buyers. The days of getting unsuspecting homebuyers to purchase defective housing at inflated prices (under the umbrella of government-backed financing), are soon to be long [...]
