Do you REALLY have what it takes to get in with the big companies as an REO broker? Would they TRULY want to hire you to sell foreclosures on their behalf? Be honest with yourself now…Selling bank owned homes is a lot of work and it involves many special REO processes, that you need to know to a “T”, if you are going to be considered for REO assignments from companies like Fannie Mae. To REALLY “get” the ins and outs of the REO business, it’s wise to learn as much as you can, from anyone who will coach, you before taking on much business. Putting the other foot forward first can quickly get you blacklisted by Asset Managers and banks forever.
Just a reminder of some FREE REO training…
Our next FREE REO Rockstars call is Thursday, April 22, 2010 @ 1:00 PM EST. If you are wanting to get your REO sales up a notch VERY QUICKLY then get on this call. You DO want to join us and learn how to make MORE MONEY…Don’t You?! There is NO COST and of course, No-Obligation. It’s a “pitch free” call to get some momentum behind you and to help you fly past your competitors like Jimmie Johnson rounding the last corner towards the finish line!
I will teach you the Three Quick and Dirty Ways to Start Getting Business NOW!
…AND
The Single Biggest Time-Wasting Activity that most REO “coaches” are screwing you with!
WARNING: As usual. The call will be very crowded and “seats” are going to be limited to the first 147 people. Be PROMPT. It would stink to be #148…WOULDN’T IT?
Conference dial-in number: (866) 576-7975
Participant access code: 885267
Time: 1:00 EST on Thursday, April 22, 2010
P.S. As a special bonus, I will be revealing 1 BIG SHORTCUT to getting on board with THE most desired REO client in the country. Write the call-in number and access code down right now and DO NOT MISS THIS!
While many agents are finding it very tough to compete in today’s REO market, others are thriving. SURPRISE! It comes right down to knowing the ways “in” and then putting your neck out on the line with some guts and hard work and refusing to quit! Big doors swing WIDE open, even doors that have been slammed shut on REO agents for years, when you have the right direction and the will to succeed.
Our next FREE REO Rockstars call is Thursday, April 22, 2010 @ 1:00 PM EST. If you are wanting to get your REO sales up a notch VERY QUICKLY then get on this call. You DO want to join us and learn how to make MORE MONEY…Don’t You?! There is NO COST and of course, No-Obligation. It’s a “pitch free” call to get some momentum behind you and to help you fly past your competitors like Jimmie Johnson rounding the last corner towards the finish line!
I will teach you the Three Quick and Dirty Ways to Start Getting Business NOW!
…AND
The Single Biggest Time-Wasting Activity that most REO “coaches” are screwing you with!
WARNING: As usual. The call will be very crowded and “seats” are going to be limited to the first 147 people. Be PROMPT. It would stink to be #148…WOULDN’T IT?
Conference dial-in number: (866) 576-7975
Participant access code: 885267
Time: 1:00 EST on Thursday, April 22, 2010
P.S. As a special bonus, I will be revealing 1 BIG SHORTCUT to getting on board with THE most desired REO client in the country. Write the call-in number and access code down right now and DO NOT MISS THIS!
This was an actual question posed to me by a local real estate broker this morning. Since I’ve heard it a lot lately, I thought I’d go ahead and address it quickly for everyone. Here’s the deal in a nutshell…
If you haven’t already taken advantage of “Uncensored REO Secrets” then invest in your copy today (April 8, 2010). It’s the simplest and easiest way to discover how to jump into the business of selling bank-owned homes. As a result of the most common questions that I get from coaching members and other aspiring REO brokers that I frequently meet, I put this quick little “blueprint” together, that outlines the most critical steps that you’ll need to take, and the most deadly pitfalls that you MUST avoid, in order to start getting assignments from banks and asset management companies.
Folks, I have seen a lot of wild things in the REO business over the last few years (HAFA, HAMP, etc.) but this one really takes the cake. The government is now apparently using TARP funds, to the tune of some 14 Billion dollars, to assist in providing special refinancing options for home owners who are “upside down” in their mortgages, by encouraging lenders to write down loans. Now for me, it raises some interesting questions:
Did I say CORRUPTION?!!! You bet I did!
If you’ve been selling bank foreclosures as an REO broker for any length of time, you’ve undoubtedly run into a “proposal” that smelled “fishy”, didn’t seem right, or just kinda made you go “hhhhmmmmmm”…. It seems that around every corner there’s a guy or girl trying to make a quick buck from everyone-problem is, it’s not always LEGALLY. To be right up front and honest with you, this kind of b.s. gets my blood boiling, to the point where I’d like nothing more than to ram my fist down someone’s throat, every time I hear such an offer. Wow…that sounded harsh! haha…actually, I’m not a violent guy, and I would never do such a thing, but I sure want you to have a vivid mental picture about how strongly I feel about running a “clean” business, rather than a sleazy one. Let me give you an actual example of the kind of thing I am talking about here, in case you’ve yet to come across this sort of impropriety:
I get this question on REO Rockstars calls a lot so let me share a bit of free insight on why REO agents and investors buying bank owned homes have their hopes of a golden finish blow out violently, like a speed skater who’s shoved into the boards, trying to squeeze out Apollo Ohno on the last turn before the finish line! Grab a pen and paper and take some notes my friend. This stuff is not for the faint-hearted but it doesn’t take 4 years of torturous training either-just a tiny little bit if focus. You can manage that can’t you? 
…Every day my office receives offers from these “would be” investors. Seems like everyone has taken some class, “learned from a friend”, or just plain walks blindly into the “investor” game. Now not to be critical of REAL investors here. We do business with PLENTY of super smart guys who make a very good living at this. But how do they do it? Well, it begins with the basics of knowing HOW to structure a deal that just makes sense. Contrary to what the “wanna be” guys seem to think, a great deal involves a heck of a lot more than looking at a few comps and speculating on a flip price. Bluntly, It is not the HOUSE that matters. It’s the PLAN. Smart investors, the guys who actually make a career out of this (and no, I’m not talking about some of these TV goofballs who make me cringe as they buy termite infested, water logged, structurally defunct houses and end up rebuilding from the foundation up-HACKS!), break the numbers down to the last penny, including the financing factors. First, they have to consider “where” they are going to get the non-occupant financing and more importantly “how” they are going to convince the hard money guy to fork over a chunk of change to finance the project.
You know, when you do a lot of volume in REO, you spend a lot of time looking at the big picture and you sometimes forget about the small improvements that could greatly impact the efficiency and morale of your team. Sit here for just a moment now and imagine that you are sitting in your office chair trying to get a little work done. As you stare at the words on your computer screen, words that look a lot like the ones you see on your screen now, black on a white background, you begin to feel yourself tuning in. The more you stare at these words and the the tasks they represent, the more you settle into your place and get so focused that you can almost feel your chest rise and fall with each breath you take. You are in your zone, to the point that you are feeling super energized and ready to accomplish the work of two or maybe even three people. Then all of a sudden…
It is quite common to find discoloration caused by water intrusion in abandoned foreclosure listings. Depending on the price and condition of the property, your client may choose to repair and replace or simply find a more cost-effective solution for getting the home free of potential safety hazards and ready for market. In this video, I’ll show you how we creatively handled the situation in a property that had some discoloration in the basement. I should mention that I hear myself using the word “mold” in this video. I am incorrectly saying using this term. The drywall had discoloration and I am NOT a mold expert and could not identify it as discoloration of the drywall. Furthermore, you’ll notice that I mention that it is less than 100 contiguous feet, which is the standard by which many companies determine whether or not full “remediation” is necessary. In this case, it was not. Take a look at the end result of our “fix”. Also be sure to notice that I check to see if the source of the problem is fixed as well. In this case it was not and I had to report it to my REO Asset Manager and my contractor had to return and get it corrected. “Band Aids” don’t work. Double check every time! Hey, a repair like this on a bank owned property isn’t always a pretty process but it gets the job done safely and properly!
