fivestar (4)

Isn't that a question almost all of us asks? How much am I really going to spend on this trip and what am I really going to get out of it?Well, there are a number of ways to look at to determine if it's "worth it" or not. I guess we need to start by figuring out what the cost actually is. We can use the round numbers from my trip as a basis. I got a decent plane fair, an average "king" room, add in the cost of the conference and the cost of food and drink. I can round it out to just under $3000.00. Now, what do you get for your hard-earned $3000.00? A lot of that depends on what you intend to get for it. You can go to the conference for the education, for the networking or to gain business.If you go for the education you can definitely get your money's worth. There were a multitude of courses and panels with the most up-to-date information available, ranging from information on short-sales and BPOs all the way through Bulk REO sales. The classes and panels are conducted by industry experts. Additionally there were speakers like Steve Forbes and James B. Lockhart III. You can get great industry information there, some of which you can find else where, but most of which you will NOT get anywhere else. So, if you go for the education, you can get your money's worth. It may be an expensive education, but you can load up with classes all-day, everyday of the conference.If you go for the networking, you'll probably find the best networking you'll find anywhere. Networking with agents from areas outside your market area is one of the best ways to gain insight into the industry. There were hundreds, if not thousands of agents from all over the country at the conference. In addition to that, there were countless opportunities to network with those agents at the conference and outside the conference.If you go to gain business, you can do it, you just have to go with the right attitude, the right plan and be a networker. You must realize that you are competing with those "hundreds, if not thousands of agents from all over the country". I can honestly say that I have either gained new business or strengthened the bond with an existing client at every conference I've been to except for one. I've been to seven conferences in the past 2 1/2 years.Now back to the cost...so, if you gain insight into the industry through a class, from another agent or if you happen to get the attention of someone in the asset management community or the valuation community, what would it take to make it worth your money? A couple REO assets? 50 or 60 BPOs? After you write-off the trip, what would it take to make it worthwhile? Just the education? I have a friend that currently works with about 38 different banks/asset management companies and STILL attends all the conferences. Why? It must be worth the time to him.I'm not here to tell you should or shouldn't attend the conferences, but hopefully I've given you enough information to make an educated decision on your own. Of course, this is all just my point of view... :)
Read more…

Foreclosure Angel Foundation - Press Release

Take a look at this press release. PRESS RELEASEBe a Piece of the Solution. Over ONE MILLION AMERICANS have lost their homes through foreclosure. We know what the problem is, the REO Masters Network is asking REO Agents to Be a Piece of the Solution.The members of the REO Masters Network are hosting what will be the Largest Networking Party and Charity Event in the REO Industry and the proceeds are going to the Foreclosure Angel Foundation. The Foreclosure Angel Foundation is a non-profit agency that is helping people who have genuine hardships stay in their homes, get their homes back or get them back into a home. How can we as REO agents help? Support the cause.I realize that not all the REO agents in the country are going to FiveStar (although it may seem that way), but those of you that are...buy a ticket, come to the event and have some fun. You are contributing just by buying the ticket.Those of you that aren't going to the FiveStar conference can still buy a ticket as a donation to the cause. If you aren't willng to do that, then contact the Foreclosure Angel Foundation and tell them you are willing to do some "leg-work" in your area if they need it. Who knows, there is likely to be someone in your area that Marilyn from the Foundation is trying to help. She can't do it all by herself.Here's a good example, Harry Mallinger, who's wife recently died from a brain tumor and has two mentally challenged adult sons lost his home. Now Marilyn is trying to find a home for him in Florida. This is just one of the MANY stories.None of us can fix the problem on our own, but together we can make a difference so please, Be a Piece of the Solution.
Read more…
San Diego REO News BlogFive Star Fort Worth Texas Club Tsunami REO Party and Charity EventThe next Five Star Default Servicing Conference and Expo will be held in Fort Worth, Texas at the Fort Worth Convention Center. The 2009 Fort Worth 5 Star runs from September 19th to the 23rd. The Five Star is the largest conference in the default servicing industry and is the most well known networking opportunity for real estate agents, real estate brokers, attorneys, title companies, servicers, lenders, service providers, investors, vendors and asset managers. This networking event allows all parties in the REO field to meet and network in one location and share ideas on how to get through the many REO’s on the market and the wave of REO’s to come. It’s where all the parts of the puzzle briefly come together and put together a plan for what to do next. The most powerful people in the REO filed attend and share ideas to better serve everyone involved.At this 2009 Five Star Event in Fort Worth there is a Tsunami Party and Charity Event hosted by REOMasters Network. REOMasters Network is raising heads in the REO Industry as the fastest growing REO Networking Group in the business.About REOMasters Network from their web site:

The REOMasters™ Network is the nation’s newest marketing and business development association for REO Agents and Brokers who want it all. The REOMasters™ Network has partnered with the nation’s top REO coaches and industry leaders to engineer a life and business success REO coaching and marketing association … being built by agents, designed for agents, and owned by agents. Scott McLaine, Founder and CEO of REOMasters™ Network.

The Tsunami REO Party and Charity Event will be the “Biggest and Don’t Miss Event” of the Fort Worth Five Star. The event is on Monday Night September 21st at the City Street Night Club 3 blocks from the Five Star Convention. The Tsunami REO Party opens at 8:00 P.M. and ends at 2:00 A.M. complete with a red carpet walk into the 22,000 square foot mega club. Networking and dancing recommended and encouraged. Busses will take you from the Forth Worth Convention Center, Main Street entrance to Club Tsunami and back. Busses will travel back and forth from 8:00 P.M. to 1:00 A.M. Now you have the place and you have the ride “both ways” now grab a date or a partner or your whole team and get some tickets before they’re SOLD OUT. We want to see you on the Party Bus not the Baby Bus….. Remember it’s for charity too!Register Here!Registration includes:The party is happening at Club Tsunami all night long. Dress to impress and have a great time rocking the house! Enjoy great music from three different DJ’s, try your luck in the casino, check out our social scene, meet great people and network with other agents. This event will sell out. Space is strictly limited! 2 Drink Coupons before 9:30 P.M., Happy Hour Food before 9:30 P.M., Networking Mixer 8:30 to 9:30.Tsunami Casino Night – Play the Craps Table, challenge the Blackjack Dealer, spin the Roulette wheel. Casino funall night long.Two Night Club Dance Floors – Choose from two different theme rooms in order to dance the night away. Cages will feature the best of pop and top 40’s dance hits while Indigo will play the best of the 70’s, 80’s and 90’s.Cigar and Scotch Lounge – Enjoy a fine glass of premium scotch and a quality cigar in the Tabu Lounge. Sip your drink, make some new friends, network with old ones. Just sit back, relax and enjoy the evening.Top Shelf Bar – Order your favorite drinks at the numerous bars throughout Club Tsunami or from any one of our many hostesses. Drink tickets provided at the door with admission.Raffle Drawing – With every ticket you purchase you will be entered into our drawing to win one of many prizes that will help you to grow your business.

100% of ticket sales profits will benefit the Foreclosure Angel FoundationWhat is the Foreclosure Angel Foundation – Excerpt from clubtsunami.netForeclosure Angel FoundationBeing Supported by the NFSTI REOMasters™ NetworkWe’re Fighting a Real Problem …That Needs Our AttentionThe Foreclosure Angel Foundation was born when Marilyn Mock saw a need in November of 2008 to help her neighbor who was about to lose her home. With nowhere else to turn but the streets, their home went up on the auction block.Marilyn bought the home at the auction price and sold it right back to the owners at the now lower cost. Marilyn had a keen sense that “It could be me in that situation.” One major life change could rip her family from their home too.Ever the optimist, Marilyn thought that others in her community who saw this need would surely step up and help. She took desperate letters from families losing their homes to a function where her friends and acquaintances had expendable income. Marilyn was shocked when they didn’t even want to see the letter, much less offer any help.At that point, Marilyn once again had another layer of her rose colored glasses ripped away, but this time she became determined. She believed that the American spirit of neighbors helping neighbors would win out.If you’re going to the Five Star Fort Worth 2009 make sure you make this event. This will be the one everyone remembers and asks, “Were you there!”.
Read more…
At some time in life, many of us were told we have no business complaining about things in life that we don't know about, don't participate in, or don't help to make better.I'm paraphrasing a few examples here ...Obama has said it - "I can't do it alone. I need your help."My former CEO said it "Bring me a problem, and bring me a solution."My former boss said "Great point - you are in charge of fixing it."My REO Masters Co-Founder Scott MacLaine said it "This is an organization where members don't join and expect success to happen, but have a hand in making a difference."I'm down with this philosophy (i.e. in agreement) because it just makes sense. It's practical. But I'll let you in on a secret - The other day I did happen to fall off my high horse and complain. It all started in court, where I'm spending way too much time lately.In my role as an REO Broker, I am frequently asked to appear in court as a witness for the bank at unlawful detainer hearings. A few weeks ago, the defendant actually showed up. This couple pleaded to the judge about saving their home, doing a loan modification, whatever it took, they were committed. The judge had to explain, as delicately as he could, that it was too late and that the bank filed to gain possession of their property. He granted the couple 2 weeks to vacate. Within the two weeks, the couple managed to get a relative to get qualified to buy the house. The bank agreed to go into escrow, knowing full well the relative was purchasing the home to enable the former defaulted borrowers to stay in the house. If escrow closes, the occupants essentially will have been awarded the mother of all loan modifications since the new purchase price and interest rate are well below what they were when the couple purchased the home at its peak. And the big bonus - the occupants have not paid their mortgage for about a year!Since the bank is the decision-maker, I happily facilitated all this. And then scratched my head and said ... What the ??? How do I get a deal like that???OK forget about me - what about all the other people in need? What about my client who suffered a rare disease resulting in a bone marrow transplant and a short sale because there was no loan modification that could help?I don't begrudge the couple fighting for their home. I don't know them. Maybe they are great people and this is Karma coming around to help. I may never know. But I am pretty certain that in this unprecedented real estate climate, the stories, the backgrounds, and the behavior behind those who have lost their homes are as diverse as one can imagine.Can we really blame government or banking institutions for helping those less deserving, or foregoing those in real need? Maybe not if:1) Policies are helping to solve the problem at large on a high level.or2) I'm not part of the solution.Enter the Foreclosure Angel Foundation. This is not my idea so if am insinuating that I am part of the solution, well, let me disclose that I'm merely outsourcing my contribution to the solution by supporting Marilyn Mock, founder of the Foreclosure Angel Foundation. This is an amazing lady who has started a foundation to help the neediest of those in foreclosure. You may have heard the expression "Think Globally, Act Locally." That's how Marilyn got started. She saw a problem and jumped right in. Never complained to anyone on behalf of the victim, never complained about the cruelty of the world, just took decisive action.I first saw her on Oprah (my wife made me watch it) and then when the founders of REO Masters announced the organization's support for Marilyn and the Foreclosure Angel Foundation, I was thrilled. The support will kick off with a fundraising event at the Five-Star Conference in Dallas later this month.Complaining feels good. But being part of the solution feels even better.
Read more…