Friday Coffee Break» patrick precourt

Why College is the Biggest Scam in America Today!

Patrick Precourt — Thu, 02 Sep 2010 21:26:52 +0000

Riddle me this? How much money should you have to spend, for college, only to get in debt up to your eyeballs, before you even get a job? The answer is: A heck of as lot! Listen in as I cover this hot topic and why more lenders (both REO and Short Sale) are disallowing transactional funding proof of fund letters. We will also discuss whether or not short sale lenders can put deed restrictions on a property when they are not the owners, plus whether or not REO banks can put deed restrictions on properties. How and why Home Owners Associations/Condo Associations and municipal utility agencies, become first position debt owners before 1st or 2nd lien holders. We will discuss how to get paid a large fee on a short sale property without taking title and how Chase’s discount guidelines when they send their 2^nd lien bad debt to their recovery department, and much more. Visit www.fridaycoffeebreak.com for more real estate videos from Patrick Precourt and North Shore Enterprises!

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Beware Of The “Hawkers!” Research Your GURU Before You Invest In Their Education

Patrick Precourt — Thu, 10 Jun 2010 21:38:24 +0000

I get comments, on a daily basis, about new real estate investors being so confused on who they should be listening to; reason being is that every so-called “Expert” seems to be touting the next “cutting edge” idea that will CHANGE the real estate industry. I will tell you what, it’s all a bunch of crap! Listen in as I tell you what to look for and what to do before you invest one red cent into an “online educator.” Also listen in to find out if short sale investing is a great place to start your real estate investing career, where to find out how to get HUD-1 settlement statement training, why you should be wary of who funds your short sale transactions, how to assign a short sale contract and get paid, whether or not you have to be behind on your mortgage to qualify for a loan modification and more.

Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt and North Shore Enterprises.

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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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What Is Your “Fiduciary Responsibility” When You Are Both An Agent And Investor?

Patrick Precourt — Fri, 28 May 2010 03:13:18 +0000

Investing in today’s real estate market has so many perks it would take me a book to write them all! However, it does not come without its many challenges and one of them comes when you wear more than one hat; one as an investor and one as a licensed real estate agent! Listen in as I cover what your direct fiduciary responsible is to your client when you are both (it’s a fine line so beware!)We also cover when FHA’s short sale clock starts when negotiating a short sale, how to prevent buyers from walking on your short sale transaction, whether Freddie Mac’s anti flipping article is effecting our investing industry, the best way to get pitch your short sale services to real estate agents and much more. Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

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Is It Fraud If You Flip a Successful Wells Fargo/ASC Short Sale?

Patrick Precourt — Sat, 22 May 2010 03:39:04 +0000

Flipping short sale properties is an incredible way to make money in today’s’ real estate investing world, however flipper beware! What I mean by that is beware of the coveted short sale acceptance letter and how it is written. Too many time I see banks try and slip in some sly verbiage that would make flipping a short sale practically “illegal!” Listen in as I not only cover this “hot” topic but I also cover whether or not you have to file a DBA (doing business as) of your LLC with every different county where a short sale you are negotiating is located, if a Land Trust still works in today’s preforeclosure business, when a homeowner is supposed to send in their house payment while the new HAFA short sale process is going on, how and where a new investor should begin their investing career, what to do when a banks loss mitigator will not update their notes when you call to check on the status of the short sale and more.

Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

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Can I Operate A Real Estate Business Without A License?

Patrick Precourt — Thu, 13 May 2010 23:32:32 +0000

The HAFA Program, the S.A.F.E. Act, the “Debt Negotiation licenses and so many more it is getting harder to keep track of whether or not I can even invest in real estate! Listen in as we dig into whether or not investors need to have some sort of license to have a real estate business to play in today’s real estate investing world! As listen in as we cover whether or not you can negotiate the verbiage on a short sale approval letter when they state “we reserve the right to pursue a deficiency judgment for our loss” or if it is standard for all approval letters, whether or not California Short Sale Laws are different from other states, whether a buyer can finance a Loss Mitigation Fee on their side of the HUD or if they have to give us cash in order to pay us for our service, whether or not you should list all your short sale properties on the MLS before you submit your first short sale offer and much more. Visit www.FridayCoffeeBreak.com for more real estate videos from Pat Precourt.

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Are Short Sale Flips Illegal? Freddie Mac May Think So!

Patrick Precourt — Fri, 30 Apr 2010 03:44:56 +0000

On this week’s Friday Coffee Break Patrick Precourt digs into the latest Freddie Mac article that states that flipping short sales is fraud! If you are investing in short sale properties or planning on it you will not want to miss this week’s Friday Coffee Break! Does this article mean that our short sale investing careers are over or it just another “blown out of proportion” Enquirer type printing? Listen in as we cover this hot topic and also how to correct write a contract so a short sale lender doesn’t ask you for your LLC’s Articles of Incorporation, where our “investor opportunity” is in the new HAFA program, how the IRS treats forgiven debt, and much more. Visit www.FridayCoffeeBreak.com for more real estate specific videos.

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How Long After a Short Sale Can a Lender Go After Me for the Difference?

Patrick Precourt — Fri, 16 Apr 2010 08:27:08 +0000

Don’t you feel like it seems like the short sale game is changing on a daily basis? One day the government comes up with a new program that states our sellers are not liable for the tax portion of the forgiven debt only to find out that again they wasted the Tax Payer’s money (our money) because only a tiny pool of homeowners actually qualify! Listen in as I go over how long after a short sale transaction that a lender can go after our clients (the homeowner(s)), what to do when you are negotiated a short sale only to find out the lender requires the property be listed by a licensed real estate agent, the best place to find money today to finance our deals, and much more. Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

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Can A Homeowner Do A Short Sale If They Are Current?

Patrick Precourt — Fri, 09 Apr 2010 05:32:57 +0000

There is a lot of misinformation in today’s real estate world and one of the biggest ones revolves around the question of whether or not a lender will take a short sale or discount their total amount owed to them when a homeowner is current on their mortgage. Make sure you listen in as we uncover what lenders are doing today as opposed to last year, the best ways to create monthly cash flow while being a short sale investor, the inside tricks to “Managing a BPO” so you get your desired outcome, whether or not a lender can tell a seller what he or she “has” to list their property at and much more. Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

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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