Friday Coffee Break» bob lachance

The Truth About Whether Or Not The REO Market Is A Waste Of Time!

Patrick Precourt — Fri, 04 Jun 2010 15:13:58 +0000

Buying and holding, buying and rehabbing or buying and wholesaling REO properties has been an absolute craze with today’s top Real Estate Guru’s… The questions that I always get are: Are the Guru’s right, are they wrong, does it work, are they full of crap, etc? Listen in to today’s Friday Coffee Break to see the facts and what the real truth is… Also listen in to find out whether or not you can subdivide a property in default; then short sale one parcel and keep the other free and clear, whether or not, on an “A” to “C” transaction, a property should be listed with the “A” Seller (as Seller) rather than “B” Investor (as Investor) so the bank pays the Realtor commissions, whether or not there is a fiduciary responsibility conflict with being an agent and the investor when doing the A to B and B to C closings with short sales, whether or not you need to get short sale documents from an estate when the subject property is over-debted and more. Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

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Disclosure, Disclosure, Disclosure — What Exactly Do I Need in Writing to “Protect” Myself?

Patrick Precourt — Fri, 19 Mar 2010 23:22:12 +0000

Disclosure is the number one thing that real estate investors and licensed real estate agents have to do in today’s real estate climate. When you are sitting with a seller or talking to them on the phone you have to make sure you are crystal clear on what you want to accomplish. If you are an investor “tell them” you are an investor, if you are looking to assign a contract that you have on their house “tell them”, if you want to do a short sale flip “tell them”, well you get the point! Disclose everything! On this week’s Friday Coffee Break we not only cover the proper disclosures that you need sign but we also cover what kind of language is considered “too vague” on a short sale acceptance letter, how to renegotiate a lower offer after you have already gotten a short sale acceptance letter, the important steps you need to take when you reselling a property to an FHA buyer so you DON’T screw up your deal, a clarification on the HAFA program and what investors the program covers and much more. Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

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With the “Updated” FDIC Loss Share Agreements: What’s the Future for Short Sales?

Patrick Precourt — Fri, 26 Feb 2010 00:12:30 +0000

Lately, we have been getting bombarded with questions about the FDIC Loss Share Agreements and whether or not this will crush the short sale world as we know it. I will tell you this; it will affect our short sale businesses. How much you may ask? Well listen in and I will tackle that “hot” issue! On this week’s Friday Coffee Break, we also cover whether or not using a Power of Attorney over an Authorization to Release information is better, whether the use of an Option Contract creates more confusion then it does good for investors, my read on the “new” FHA suspension of the 90 day seasoning guideline and how it will pan out in reference to our flip transactions and much much more. Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt and www.ManageMyShortSale.com to learn more about the Short Sale Management tool used by hundreds of other Preforeclosure Specialists!

When to “Fire” your Seller in a Short Sale Transaction!

Patrick Precourt — Fri, 05 Feb 2010 00:21:28 +0000

On this week’s Friday Coffee Break we go over the best time to say “thanks” but “no thanks” to your short sale sellers! In the short sale business you will sometimes have to be like Donald Trump and say “YOU ARE FIRED” to your sellers. Listen in as we not only cover this extremely important topic, but we cover the BEST handwritten verbiage to put on a postcard to get a homeowner to contact you over the competition, what sneaky things lenders are now doing when attempting to collect on a deficiency judgment, whether or not you can protect yourself against a seller and their Realtor from pushing you out a deal and much much more. Visit www.FridayCoffeeBreak.com for more real estate videos or www.ShortSaleFlagshipSystem.com to learn more about our Short Sale System!

Wearing More Than One Hat When Negotiating a Short Sale is OK – Just Cover Your A$$!

Patrick Precourt — Fri, 22 Jan 2010 02:56:35 +0000

On this week’s Friday Coffee Break we cover some awesome questions from you Coffee Breakers! We go over what hats you can wear when you are making money negotiating short sales, whether or not using land contracts (not trusts) are a problem when completing a back to back closing, whether you actually need to leave “consideration” with a seller on an over debted property in foreclosure when getting them under contract, some of the latest tips on the new FHA guidelines and them waving the 90 days seasoning on our short sale flips, and much much more. Visit www.FridayCoffeeBreak.com for more real estate specific videos from Patrick Precourt.

The Biggest Advantage to Having Your Own Loss Mitigation Company

Patrick Precourt — Thu, 14 Jan 2010 23:28:26 +0000

On this week’s Friday Coffee Break we cover one of the biggest questions that any real estate short sale investor has when deciding how to set up their business. Questions like: Do I set up a separate loss mitigation company to negotiate with lenders and Do I put my short sale offer into the lender with my personal name on it, etc, etc. Listen in as we also cover, what Freddie Mac’s short sale timelines are in non-judicial states, what to do with rents when the seller is in foreclosure so you don’t commit fraud, why managing seller expectations is our responsibility and much, much more! Check out the rest of our educational real estate videos on www.FridayCoffeeBreak.com and visit www.ManageMyShortSale.com to take advantage of the best online short sale management tool available.

What Short Sale Disclosures You Should Put On Your Purchase and Sales Agreements to Satisfy Everyone!

Patrick Precourt — Fri, 08 Jan 2010 04:19:50 +0000

On this week’s Friday Coffee Break we cover some exciting questions and one in particular that will give you new insight on what disclosures you should put on your purchase and sales agreements to satisfy not only a foreclosing lender but the end buyers Title Company. Listen in as we if there is any way to convince a Real Estate Agent, who is representing both the buyer and the seller, to let you control the deal, how you deal with a non cooperating BPO agents and appraisers, when and where our upcoming Short Sale Event will be held, what solutions there are for the 30 day funding issue, if a Real Estate Broker can be part of an LLC that is buying a short sale to flip without disclosing it and much much more! Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos and articles.

5 Slam Dunk Ways to Get Out of Your Real Estate Rut!

Patrick Precourt — Fri, 20 Nov 2009 01:57:34 +0000

Every real estate investor has at one time or another gotten stuck in a real estate rut! Listen in as I go over the 5 sure fire ways to get out of that rut and also make sure you don’t become the proverbial Octopus on roller-skates (eight legs all going in different directions at the same time). Also listen in as we go over whether or not a mortgage insurance company can demand a promissory note in exchange for a short sale acceptance letter, whether a family friend can buy a house from someone in foreclosure, what title company we recommend working with and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos and articles.

The Real “Facts” About End Buyers Lenders and the 90 Day Seasoning Requirements!

Patrick Precourt — Thu, 22 Oct 2009 19:58:33 +0000

We have been getting bombarded lately with questions about which end buyers lenders will write a loan without a 90 day seasoning requirement! Listen in as we go over the facts and the fiction of this “hot” topic. Also listen in as we go over how Obama’s new national short sale program will or will not affect the BPO or valuation process, whether or not a license will be required in each state in order to do loss mitigation work, whether or not you can get a business line of credit when you have bad credit and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos and articles.

Bankruptcy Attorney’s Just Don’t Give a Crap About Their Clients!

Patrick Precourt — Fri, 29 May 2009 03:22:50 +0000

There are a lot of Bankruptcy Attorney’s that just don’t care about their clients or their credit! In this video you will see how to deal with the sellers and some of the bad advice they give to their clients. This video will also cover the best way to get a loss mitigator to budge off their guidelines on VA insured loans, how a buyer actually pays your fee on a short sale flip, how and what listing agreement you send to a foreclosing lender when they request one, and much more…. visit www.FridayCoffeeBreak.com for more real estate specific videos and to ask real estate specific questions!