Blog

I Am So “explicative” Over It!

I am sick of agent calling me to ask, “Will your property 666 Money Pitt Ln, you know, the one with busted pipes, will that go FHA?”

I am so flabbergasted at the question that I can’t figure out a creative yet, flagrant way to respond without coming off hostile or sarcastic.

When I am not sick of these agents calling me with these kinds of questions, I am tired of having to deal with agents who are too lazy to do their own research or at least, have a working knowledge of your profession.  If you are going to be an agent, work with buyers, you might want to have some kind of knowledge of lending products….just saying.

So, in other words, I am sick and tired of these lazy agents….I am. I have been in this business for 9 years, my 10 year anniversary comes up this September and in that 10 years, I can honestly say I have only met a handful of agents who seem to get it. It’s truly sad that our industry is comprised of so many who don’t see our industry as a profession….filled with professionals.

For goodness sake people, what other profession can you tell me that helps consumers make the biggest financial decision of their lives? Now….when you come up with some of those professions, stop and ask yourself, do those professional industries have the same amount of nincompoops in their profession?

Maybe I am just venting…maybe I have just leapt off the wall of reason, two feet into pure insanity but, I am just so done with idiot agents. I am…..I am over it.

Another example, last week, I had an agent ask me, “What should I tell my client?” I almost flipped out. I really almost had a Jeff Lewis flipping out moment. It took everything in my strength not to go off on this agent. I took about 3 seconds, centered myself, and replied, “You tell them the truth, exactly what happened.” She just couldn’t come to terms with it….”the truth”…she said, I said, “Yes”….and her reply was, “I could lose her as a client.” At this point, I wasn’t able to contain myself so, I just got quiet…didn’t say a word….an awkward silence fell on the phone call and after about 8 seconds or so, she just hung up on me.

Our profession is filled with less than professional people. Somewhere down the line, we got caught up and have somehow confused the definitions of Professional and Professionalism. What I mean is, some people think it’s not professional to tell another agent to do the right thing. In both these situations above, I got calls from Managing Broker who thought they were being nice to call me and tell me their agent wasn’t happy with me or that I cost them business. …..ooohh….Let’s just say, don’t call me to complain about me when the just of your complaint is, “Well, maybe you could have been nicer”.

I am not in the business of being nice. As a colleague, I will provide you professional service, I will provide you with quality customer service and that includes telling you when you are wrong. That include telling you, plainly, simply, without ambiguity what needs to happen. If that hurts your feelings, if the truth causes you some compulsion to cry or run to your Broker with a complaint…..well, go and talk with Judge Judy or Gordon Ramsay and see what they would say.

Now, at times….I will admit, my patience is thin and the day has been long and hard so, I can be less than my chipper, over the top friendly self however, I will go out of my way to help you. People who know me, know this to be true…I will help you but, I can’t fix stupid.

So….what do you need to know about me.

1. I can’t fix stupid: If you are suppose to know something as a professional…..you better know it.

2. I can’t work with liars: If I smell a lie….I will find it and in and…yes, I will be pissed so, don’t expect any empathy from me.

3. I will not do your job: If I am not your Broker, don’t expect me to do your job. If I am your Broker, I hired you because; you know how to do your job.

4. Be accountable: Don’t be afraid of accountability, you won’t grow and become a better person without it.

5. Keep open to learning: None of us know it all, even I learn new stuff every day but, if you shut down to learning, if you shut your mind down to instruction, I have no time for you.

Agents / Realtors, let’s be professionals, let’s hold each other accountable, let’s stop doing others jobs and create an environment of honest discussion, free flow of ideas and most importantly, an environment where don’t have to worry about hurting feelings when truth is spoken. Sometimes the truth hurts…it just does.

I Used my Retirement Money to Buy Real Property and Make Money.

Well, as many of you may know, in the past two years I have been really studying as much as I can about how to use retirement funds to buy property. After much studying, last year I took the dive and attended my first tax auction. I bought a property with my retirement money and I am now about to resell it for nearly double what I paid for plus all my expenses. By doing this, I stand to make a return in my retirement account of nearly 28% in 2014. That’s right, you heard me correctly, I will sell these properties I bought at tax auction, with my own retirement money in 2013 for a net increase in my retirement of nearly 28% in 2014. Just so you know, when my money was with T. Rowe Price…for the past 15 years, I had never made that kind of money in 1 years time…..never! In fact, the best return I ever got with T. Rowe Price was a net increase of like .08%....what a joke!

I have privately spoken with some of you on how to use a Self Directed IRA and many of you have found your way to our Self Directed IRA social network www.MatherNetwork.com however, many more of you still haven’t figured out how to make a SDIRA work for you or even what it is. I can’t stress to you enough, go join www.MatherNetwork.com it’s FREE and, learn as much as you can. Read the blogs, get on the forums, contact the SDIRA Trustees……..RETIRE EARLY!

Stop waiting, it’s the new year and now is the best time to get started. We have some of the bet Trustees on our network that offer our members free webinars, workshops, libraries…..a wealth of information and knowledge. The best part, our Trustees are the same people I use, I learned from, hold my money and I can tell you personally, I have made money in my retirement, more money than I have ever made in my retirement. Stop procrastinating….go to www.MatherNetwork.com and join now!

I have written articles on the drought of REOs and many of you are experiencing the drought personally and have shifted your business but, make no mistake, it isn't because foreclosures have slowed, stopped or the economy is getting better. In fact, most of these banks are moving their REO inventories off their books to hedge funds, bulk portfolio buyers or even worse, shell companies like (fill in the blank) which then dispose of the property directly. Don't believe me? Well, here ya go, read this!

http://www.inman.com/wire/share-of-unlisted-vacant-homes-hits-highest-level-in-13-years/

Now, after reading that inman.com news article, tell me how great this economy is.

How to Buy a Home Once You Have Completed a Short Sale

Tragedy strikes across the country every year.  People lose jobs, injuries are sustained from accidents and financial hardships cause tough decisions.  Fortunately, most things improve with the passage of time.  Read on to see how you can prepare for your next home purchase once you have sold a home via short sale.

Option 1: Big Down Payment

One constant that has remained in mortgage lending in many years is the power of a large down payment.  Although it is uncommon to see someone with a 30% or more down payment, it does happen.  Especially for people who are recipients of a windfall, such as payment on a judgment or an inheritance.  If you can rationalize the high interest rates, and you have the funds for the large down payment, then you can usually find a private lender to set up a mortgage for you.

If you choose this route, be alert to a few items.  First, the lender may have a stiff penalty for paying off the loan within the first few years.  Secondly, the lender may attempt to set up the mortgage with a balloon payment.  Avoid these two snags at all cost.

Option 2:  Wait a Few Years

If you don’t have the money for a 30% down payment you can simply wait for three years.  The Federal Housing Administration (FHA) will ask that a person who sold their home via short sale to wait for three years before applying for a new mortgage.  However, if your circumstances show that the short sale was beyond your control, and you kept your payments up to date right up to the sale date, then you may be able to get the loan sooner.

People who would prefer to use conventional loans offered by Fannie Mae or Freddie Mac will have a similar wait.  Fannie Mae only asks that borrowers wait for two years if they are able to pay a 20% down payment.  For circumstances beyond your control Fannie may allow you a 10% down payment after a two year period.

Veterans who wish to use the VA loan will need to wait a full two years after their short sale to apply for a new loan.

Option 3: Lease with Option to Buy

It is not surprising that many home sellers have chosen to offer their homes with a lease and an option to purchase at a certain time and at a designated price.  Due to the economic slump over the past few years, home prices have dropped.  Sellers do not wish to sell their home at such a loss so many are willing to lease out the home in hopes that the market will rebound.  For buyers who are not quite ready to qualify for a traditional mortgage, buying with a lease-option could be the easiest way to get in to a home.

With a little planning and a little patience it is possible to find yourself holding the keys to your next home after you have made it through a short sale.

Original Post - Buying a Home after a Short Sale

With 50 + listings in 2011 year's end and 50 + sales in 2011. I have received the following award.

I am now a 50/50 member with Coldwell Banker and have won the International President's Elite award for 2011.

COLDWELL BANKER REAL ESTATE LLC 1 CAMPUS DRIVE PARSIPPANY, NJ 07054-0642

February 2, 2012

Congratulations! You achieved impressive results in 2011 that entitle you to the use of the President’s Elite designation within the Coldwell Banker brand during 2012. As a member of this distinguished group, you are among the top three percent for President's Elite, for all Coldwell Banker sales associates, depending on the designation you earned. Wow!

It's coming up on 2012 and I wanted to take a look at some predictions I had made for 2011 and just how well I did....or didn't do.

In my blog, "More Housing Predictions for 2011 part 2" one of my predictions was, "Lack of substantial job growth"

Well, I would say I was pretty on target for that prediction. I had mentioned that I didn't believe the underlying problems to the economy were going to be addressed and therefore, we couldn't expect a robust recovery, if one at all.

In my blog, "More Housing Predictions for 2011 part 2" one of my predictions was, "Government Home Retention Programs prevent a Real Estate Bottom."

Once again, I would say I was pretty darn accurate about real estate not hitting a bottom. The Federal Government hasn't released any new statistics on the recent success or lack of success on their foreclosure prevention programs however, with the increasing or steady number of NODs and Foreclosures, I would suspect that we haven't hit a bottom yet and yes, a lot can be laid at the feet of our government who is instructing banks to avoid foreclosing. I remember at the start of 2011, when I was out doing relocation assistance negotiations, people had been in their homes for 4-6 months before I showed up....now it's more like 14-24 months......no bottom in sight anytime soon.

In my blog, "More Housing Predictions for 2011 part 2" one of my predictions was, "Energy Prices will Rise to Un-precedent levels"

Now, on this prediction, I can't really say I was spot on but, I can say I was close. You see, we never made it to $5.00 a gallon for gas but, commodity prices in general are skyrocketing. In fact, most commodities like, cotton, sugar, gold and others are reaching record levels or surpassed record levels. This is obviously a sign of inflation concerns, higher cost, weak dollar. So, I won't say I was spot on but, I will say I was on track with this one.

In my blog, "More Housing Predictions for 2011 part 2" one of my predictions was, "Credit Tighterning"

I predicted that credit tightening would continue and it would become increasingly harder for the average citizen to get a loan......have you tried to get a loan lately......you better have a 650 fico and at least 15% down.

In my blog, "More Housing Predictions for 2011 part 2" one of my predictions was, " Unforeseen National Crisis"

More specifically, I predicted that obviously I can't predict a unforessen national crisis but, I am glad to say that on this prediction, I was wrong. At least, I am not aware of a "national crisis" of global concern.

All said and done, I would say I was pretty accurate....maybe a little skimpy on details but, 2012 predictions are coming and I assure you, I will detail those predictions up.

This is a timeline that I hope everyone will find useful. This is just what I have found to be the norm. If in doubt always best to check with your asset manger unless directed to send questions to their pre marketer.

Brandon Jordan

HELLO I RECEIVE THIS INFORMATION I HOPE IT CAN HELP BROKERS ON THOSE REGIONS.

July 20, 2010- Arlington, VA – Matt Martin Real Estate Management (MMREM) has been awarded three contracts by the U.S Department of Housing and Urban Development (HUD) under the Marketing and Management III procurement. The Federal Housing Administration (FHA), which is a part of HUD, provides federal mortgage insurance ensuring that mortgage lenders will be reimbursed in the event homebuyers default on their mortgage. When a lender is forced to foreclose on an FHA-insured single family home, townhome, or condominium because the owner can no longer make payments, it can file a claim with FHA for the balance due on the mortgage and convey title of the property to HUD. A HUD Home, therefore, is a one-to-four unit residence acquired as a result of a foreclosure on an FHA-insured mortgage. As the largest seller of real estate in the country, HUD has been outsourcing the disposition of its foreclosed FHA inventory under the M&M contracting process since 1999. After conducting extensive research into market-based best practices, HUD has developed its new M&M III disposition structure to streamline its operations, capitalize on the expertise of potential vendors and provide flexibility in a changing environment.

Recently, one of our members sent me some hate mail, yes….I get hate mail and, I wanted to share some of it with you so that I can clarify some points, just to make sure we are all on the same page.

Before I do this, just so you know, I won’t be revealing who this person is so, don’t ask.

Point # 1 –

I am here to make money.

Quote, “I truly believe that you are trying to build something big for yourself”

Yeah, was anyone under the impression I wasn’t? I am a capitalist……tried and true. I believe a person’s dedication, commitment, desire, ambition and liberty to follow their own dream is the American Dream. Absolutely I am trying to build a huge network of default professionals for myself and anyone else who decides to join me, walk along side me and pursue their dreams with me. If my ambition and dreams aren’t in line with yours, go find another network to join or start your own. The father of modern economics said that competition leads to the greater good so, if you don’t like me, if you don’t like what I am doing, if you think I am living Satan spawn then……..take a number, get in line, be patient and hold your breath.

Quote, “You know, we don’t really have to have you to get screwed out of our money”

Screwed out of your money……..are you serious? I want everyone to know, since May of 2008 I have made less than $1,500.00 off REOPro. Yep, that’s right, no more than $1,500.00! Just to be even more clear, $1,400.00 of that came from sponsors buying advertisement space. I don’t ask for donations, which would be nice, I don’t charge a membership fee, I don’t charge a set up fee, I don’t charge an inactivity fee (which is where I would make the most money)………I DON’T CHARGE MEMBERS A DIME! What money are members getting screwed out of by REOPro?

I have recommended service providers to this network, service providers that I use myself and find a lot of benefit in using. If you took my word to join any service I have recommended, guess what…………I DIDN’T MAKE ANY MONEY FROM YOU JOINING THEM!

Oh, wait a minute, I take that back……I did make about $40.00 off of 2 people who upgraded their alamode account a couple months ago. I do make money if you purchase any upgrades to your alamode account through the REOPro store but, out of almost 150 orders……I have made $40.00. In fact, it’s been such a failure that I have even thought about getting rid of it but, that is a different topic for another day.

Quote, “What are the benefits to ME when I suggest that people join the site? Does it make ME look bigger and more organized? Or you?? I really think you are self-serving and only out for yourself. I think the Alamode website deal was the clincher for me. Do you really think you saved people money?”

Oh dear golly goodness, is this person serious? What are the benefits to you when you suggest that people join the REOPro site? Building this network gives us a greater pool of resources to pull from. More people joining equals more people writing blogs, responding to forums and organically creates an environment for sharing. Sharing is good, it cost you nothing but, it could change your business. In fact, I am aware of several people who have come on-line, wrote a blog of forum, read the responses, created connections and got referrals to join companies that changed their business. The direct benefit to getting people to join REOPro is so that our community develops and in that we find strength, knowledge, power and the ability to have a voice in an industry where we are drowned out by bank policies, government regulation, inactivity of NAR and consumers. If you can’t see this….why are you still a member?

As for Alamode……hell yeah it saved people money! Alamode guarantees my members who order products and services through the REOPro store a better price than they could get direct. Did you know that….of course you didn’t because, it’s none of your business what the details of the deal I worked out with Alamode are. I challenge you to go to Alamode, order a website and then go to the REOPro store, order the same product and compare the prices. See for yourself.

Quote, “A site like this would be great if it kept out the vultures.”

Keep out the vultures….who do you think I am? I am not the Judge and Jury of the Default Real Estate Industry. Maybe, one day, we can get to the point where we can centralize and control some sort of BBB of the Default Real Estate Industry but, the reality is that I don’t make enough money on this site a year to pay 1 months mortgage payment, let alone pour my resources in with no monetary return.

Better yet, our members have stepped up and become REOPro leaders. For instance, Tim Ventura with The BPO Automation Group have sponsored a service you can find on our main page where our members can go and rate the BPO companies they have worked with, anonymously. This has been great because it allows our members to go in and see for themselves what our members think of a particular company and then you can use that information to determine for yourself if it’s worth your time, money and energy.

What about the “Non Paying BPO Company” Group (their name is something like that) where you can go in and see what BPO companies are milking people out of hard earned cash.

Quote, “. I just sense too much of your own purposes being served here.”

I hope you do get the sense that I am serving my own self purpose because I am! My purpose is to create a network of professionals that can change the direction of the wind! Granted, that may be a bit lofty but, you get the idea. My purpose is to help Agents, Asset Managers, Title Agents, Locksmiths, Land Scappers, and everyone else in this cut throat industry to feed their families. I am hell bent on making this happen and guess what, that means I may end up making a lot of money but, have you ever known a poor person being able to provide you with a job or work?

Just to be clear, I am a LIBERTY loving, constitution toting, private property rights supporting, God fearing, profit motivated, big hearted, loyal as a dog man who believes I can change the world one person at a time so that we all benefit through capitalist principles and if this isn’t what you signed up for, good luck and I wish you the best.