Friday Coffee Break» property

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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Are you Fat, Big Boned or just Over Indulged?

Patrick Precourt — Fri, 20 Aug 2010 15:11:21 +0000

I don’t know if it is me, but do you get the feeling that the majority of Americans feel they are entitled to anything they want without working for it? Listen in to today’s Friday Coffee Break as I breakdown this hot topic. We also discuss whether or not there is a law in Florida requiring a real estate investor to hold a property for over 30 days before flipping it, whether or not a same day flip is legal. We also discuss the truth about what a Wells Fargo short sale acceptance letter is requiring you to do, whether Wells Fargo and ASC (a Wells Fargo Company) have the same requirements on their short sale approval letters and much more. Visit www.fridaycoffeebreak.com for more real estate videos from Patrick Precourt and North Shore Enterprises!

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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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In Real Estate Winners Never Quit and Quitters Never Win! Which One Are You?

Patrick Precourt — Fri, 12 Mar 2010 07:34:21 +0000

In the real estate business quitting or even thinking of quitting is NOT an option! Time and time again I hear too many investors making some sort of excuse! (I am waiting to start because… I can’t do this because… I need to get more educated because…). If you take action and keep pushing through the hurdles you face on a daily basis you will have no other choice but to succeed! Listen in as I not only talk about this ever common business challenge, but I also cover how to weed through all the “GURU’s” on the Internet and which ones to follow, how to deal with a Realtor that is demanding a big deposit on a short sale listing, my opinion on Toxic Assets and what they are and much more.

Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt of North Shore Enterprises. Join us down in Orlando on March 25th-28th! Learn more at www.ShortSaleBootcamp2010.com!

Beware of Realtors Who Learned Short Sales Through A Certification Course!

Patrick Precourt — Fri, 29 Jan 2010 04:32:52 +0000

On this week’s Friday Coffee Break we touch upon the little known facts about dealing with real estate agents that have learned short sales through a half day certification course. Could they possibly be the expert after half a day? Who knows, but make sure you listen to this video and I will let you know what I think! We also cover whether a bankruptcy list is a good list to target and where the best place to get that list is, whether or not you should cover up a mold issue that arises after an inspection, the best way to handle a 2nd lien holder when they are being unreasonable and much more! Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt!

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 In’s and Out’s of Title Companies That Will Write a Title Policy on the B of A ”30 Day” Flip Language

Patrick Precourt — Fri, 04 Dec 2009 04:27:40 +0000

There has been a lot of talk about Bank of America’s short sale acceptance letter, mostly their item #10, which states we have to hold a property we short sale for 30 days before we resell that property: the big challenge we all face is finding a title company to write a title policy with that language in it. Listen in as I go over the facts on who will do it and what language they will put in the policy to save their own butts! Also listen in as we go over what to do when there is a leaky oil tank in a property you are short selling, the best properties to invest in for 2010, how to get a clear title if one spouse passes away and the other now needs to short sale, and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos and articles.

Funding for Back to Back Closes – Don’t Believe all the Hype on the Internet!

Patrick Precourt — Thu, 15 Oct 2009 23:39:40 +0000

Before you jump into the latest “Guru selling a REO or short sale funding program” do your research because it might not be all it is cracked up to be! Listen in as I talk about the “new” back to back funding that is the entire buzz on the internet and what to watch out for in the coming weeks. I also cover which loans the $1500 short sale credit that sellers are going to get from the government will cover, what’s the best approach to discounting a mixed-use commercial property, whether or not the option contract legal, If there is a way to do a short sale when a pre-foreclosure property owner skips town and cannot be found and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos and articles.

Should a Homeowner Sign a Promissory Note or Let Their Property Go to Foreclosure?

Patrick Precourt — Thu, 03 Sep 2009 17:29:17 +0000

Letting a property go into foreclosure versus having a client sign a promissory note has always been a hot topic. Listen in as I go over why you have to be careful listening to the advice of some real estate so-called professionals who have it all wrong! This videos also covers the new FHA discount guidelines, what line item to put seller concessions on your HUD1 Settlement Statement, why some portfolio lenders are sitting on REO’s and much more. www.FridayCoffeeBreak.com. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos and articles.

When To List And Re-list A Property On A Wholesale Short Sale Flip Transaction

Patrick Precourt — Fri, 17 Jul 2009 04:46:12 +0000

There has been a lot of confusion on when and how to list and then relist a short sale property when your intension is to buy and then immediate resell a property. Listen in as we go over how long we list a property with the homeowner before we relist it with our contractual right. We also cover, while negotiated a retail short sale whether or not we get paid when we get the short sale approved or at closing, whether or not we have “proof” that title companies and end lenders are shying away from option contracts and much more. Visit www.FridayCoffeeBreak.com for more real estate specific videos.