The audio is not the highest quality but I think you will still enjoy the “Tip from Andy”…and be sure to join Andy Heller and myself tomorrow night, Wednesday July 29th, at 900pm Eastern (6:00pm Pcific) by registering below!
Cheers,
~ Ross Treakle
Today, March 31st, is your last chance to get the REI Concepts Magazine for only $1. This magazine is chalk full of awesome real estate investment education from some of the nations foremost experts on the subject.
We asked folks like Andy Heller, Bob Diamond, Graham Treakle, Gary Brevko, Peter Vekselman and a few others to contribute and all of them jumped at the opportunity. We have put a lot of hard work into making this a very informative, educational and professional magazine. Just take a look at the cover, I think we have succeeded!
If you sign up for the $1 issue today, you will be emailed the first issue tomorrow…April 1st. You will then have a 30 day trial to the magazine which you can cancel at any time. After the 30 day trial, you will be billed $47 a month to continue to receive the #1 online real estate investment magazine, REI Concepts!
Next month we already have 2 new contributors lined up with plans on adding 1 or 2 more. We plan on continuing to add at least 2 contributors a month over the next several months. We have big plans and I want to reward you for getting in on the ground floor….
So Claim Your $1 Issue Now!!!!
Cheers,
~ Ross Treakle
Over the next few days I am going to give you a sneak peak at the REI Concepts Magazine. The REI Concepts Magazine is a digital magazine geared towards the real estate investor. We have 7 real estate investment experts who have contributed their knowledge to the very first issue due out April 1st. Between now and April 1st, we are going to allow our subscribers to get the complete first issue for $1. But before I give you more information, I want to share an excerpt from one of our contributing experts Gary Brevko.
Ladies and gentlemen, the timing is absolutely perfect at the crossroads we sit at. People that have money are trying to figure out where to invest it, and people that have money are wondering how to protect it.
Let me give you another major insider tip. Not only is there money in the marketplace that is tired, I mean, tired of being where it currently is. There is also money ‑ how about this ‑ over four trillion dollars with a T, four trillion dollars in IRAs.
Those funds can easily be set up into a self‑directed IRA, where investors can self‑direct those funds to your real estate, with the rates and terms you decide to pay. Isn’t this a paradigm shift? The rates that you decide to pay. It’s a shift in thinking, that’s all it is.
That gives you huge flexibility and allows you to run a successful, profitable ‑ and how about this ‑ and a fun business. A business that is efficient and a business where you are controlling your destiny, not the hard money lender or the bank or mortgage company.
If you would like to get your hands on the very first issue of the REI Concepts Magazine, you can do so for only $1 if you sign up before April 1st.
PLEASE NOTE: You will receive the first issue on April 1st. The $1 issue comes with a 30 day trial to review all the materials. If you decide that you would like to continue to receive the REI Concepts Magazine, you will be billed $47 every month for your copy. If you would like to cancel, you can just email me at rtreakle(at)reinvestingsuccess.com.
Get Your $1 Issue Of The REI Concepts Magazine
Cheers,
~ Ross Treakle
Over the next few days I am going to give you a sneak peak at the REI Concepts Magazine. The REI Concepts Magazine is a digital magazine geared towards the real estate investor. We have 7 real estate investment experts who have contributed their knowledge to the very first issue due out April 1st. Between now and April 1st, we are going to allow our subscribers to get the complete first issue for $1. But before I give you more information, I want to share an excerpt from one of our contributing experts Andy Heller.
“We didn’t want to waste money on an improvement that wasn’t really necessary. But ultimately, we had to get somebody in the home. And over the three or four weeks that we showed the property, we noticed that people walked the property and they were generally unimpressed.
They were excited when we spoke to them before they walked into the home about our lease purchase terms, but when they walked through the property, they lost their excitement. So, we thought about something, and we tried it with this property, that eventually has become a staple of how we market our homes, and how you could end up spending a lot of money in many different ways, and you can have ten families look at the home, and ten families would have spent the money in different ways.
So, the challenge to the real estate investor is make sure if you buy a property like this, you don’t waste a lot of money, but you still fill the home.
So, back to our story. We saw that we were showing the property, and it wasn’t impressing the prospective lease purchasers, so we tried something called an Improvement Allowance.
And what that is, is we put it on the flyer for the property. It said, seller offers improvement allowance. Now, that doesn’t really say anything to anybody, but it puts you in a position when you are showing the property to have a chance to explain it.”
If you would like to get your hands on the very first issue of the REI Concepts Magazine, you can do so for only $1 if you sign up before April 1st.
PLEASE NOTE: You will receive the first issue on April 1st. The $1 issue comes with a 30 day trial to review all the materials. If you decide that you would like to continue to receive the REI Concepts Magazine, you will be billed $47 every month for your copy. If you would like to cancel, you can just email me at rtreakle(at)reinvestingsuccess.com.
Get Your $1 Issue Of The REI Concepts Magazine
Cheers,
~ Ross Treakle
I wrote yesterday about how hot of a topic REO’s are and how many of our contributors to the REI Concepts magazine have been raving about investing in REO”s and doing so for pennies on the dollar! Well, I still have not told you anything about the REI Concepts Magazine.
The REI Concepts Magazine is my effort to reach out to the new investor and offer a new tool for getting the education needed to become successful in the business. One thing that you will hear all successful investors say is that you always need to educate yourself. Whether you are just getting started or an experienced investor, education is vital to your success. It may be more vital to the new investor, but everyone has something to gain.
In my constant strive to reach out to the new real estate investor, I came up with the idea of creating an online magazine. Thus the REI Concepts Magazine. The magazine is compromised of audio transcriptions provided by our growing team of experts. Each expert is asked to call in and record a 10-15 minute call each and every month about something going on in their business or any topic as long as it is educational to the real estate investor.
These are the same experts who I have teamed up with to create mini-sites that provide high quality information at an affordable price. While I am a big believer in the big home study courses and attending live boot camps, there is a need in the market for affordable information. And that is what I am striving to provide.
From this point forward, when you buy one of our cheapo training programs, you will be put into our REI Concepts membership! The first issue, due out April 1st, will include 25+ pages of content.
A few of the article titles…
“The WOW Factor”
“Is Wholesaling Dead?”
“Get Paid When You Sell And When You Buy!”
“Investor vs. Retail Short Sale Investing”
That is just a few of the titles we will be presenting…let me tell you, I am super excited. And as each month passes, we will be adding more content and more expert contributors. We are even dangling the carrot in front of our experts to entice them to deliver the best content each month as the person who does will be rewarded.
To get your hands on our first issue, all you have to do is buy one of our cheapo products!
“Cover Your Ass Contract Clauses” class
“Learn to Lease Purchase” class (includes an REO class)
Cheers,
~ Ross Treakle
P.S. If you have already purchased one of the products and are still an active member, you will automatically receive the REI Concepts Magazine as a bonus. If you are not an active member, rush on over to one of the sites and sign up today!
PLEASE NOTE: this is a digital product, you will not be mailed anything!!!
If you have been an active investor for anytime or have been learning the real estate investing game for even just a few months, there has been one clear buying strategy that has emerged as a fan favorite. That strategy is buying REO properties.
There has been a big product launch recently that featured REO’s. There are several projects I am personally involved with that focus on REO’s. REO’s are all the buzz!
Why is this? Because REO properties are all over the place! and they are in abundance. As banks are taking back a lot of properties that go through the foreclosure process, their REO inventories are swelling to unbelievable heights.
One contributor to the REI Concepts magazine coming out April 1st is regularly buying REO properties for 60 cents on the dollar! He has a formula for buying these properties of waiting 60 days past the MLS list date until making an offer. Following his formula, he is buying 6-7 properties a month in one of the bigger national markets. Reselling about half and then adding the other half to a growing rental portfolio with nice monthly cash flow.
Another contributor to the REI Concepts Magazine has been buying REO properties for 20+ years and then selling with a Lease Purchase. He is building a nice portfolio of properties which are generating positive monthly cash flow. He used to sell a few more, but he is alright with buying at the steep discounts and adding a few more properties this year to his portfolio.
Another contributor to the REI Concepts Magazine is an REO agent in California and he is seeing the number of offers he receives start to climb as more investors are realizing the potential profits investing in REO properties. And while the number of offers increase, so do the number of properties in REO! Thus making the increase in competition sustainable because their is more than enough to go around!
If you know how to get in the door with REO’s, you have just stumbled on a goldmine! It is time that you start doing your research on REO’s and get in the game. How many REO’s will you buy in 2009?
Cheers,
~ Ross Treakle
I recently had the privilege of interviewing a good friend of mine by the name of Andy Heller. Andy and his partner are 20+ year veterans of buying REO properties and they currently utilize three different methods for finding and purchasing. Those three methods are buying directly from banks, buying from REO agents, and buying at auction.
Let’s first define REO property. An REO is a property which has completed the foreclosure process and the primary lender has taken back control of the property after the last effort by the lender to sell at auction on the courthouse steps. REO properties become bad assets on the banks books thus limiting their lending power and thus their power to make money. Banks are in the business of lending money, not owning ral estate.
When you are buying REO properties directly from the bank, you will want to focus your efforts on smaller local banks than the larger national banks. The key to buying from local banks is knowing the exact property you are interested in before contacting the bank. You can find this out by following a property you are interested in through the foreclosure process which culminates in the failed auction. When the auction has been completed, wait a day or two and then call up the bank and ask to speak to the REO agent. Have your property address in hand and reference the property when speaking to the bank representative. When taking this approach to locating REO’s you can often catch the bank before they have time to recruit an agent to assist in the sale, thus eliminating competition and selling costs for the bank.
The second and the most popular method of buying REO properties is to work with a specific type of real estate agent called an REO agent. An REO agent is a real estate agent who has developed a relationship with the banks. The banks then send the agent their REO properties when they become available and ask that the agent assist in selling the properties for a commission. once you find an REO agent, you must build the relationship. You will end up making several offers before getting the attention of the REO agent. The agent most likely already has a handful of investors they work with and it will take time to crack into that group. When you are contacting the agent, ask them to draw up the contract for you so they will be paid as both the sellers and buyers agent, thus doubling their commission. Once you have the relationship, you also want to be sure to close on the properties you make offers on. If you fail to close, you may alienate the agent and they may never choose to work with you again in the future.
The last method of buying REO properties that Andy Heller and his partner are currently using are auctions. I am not talking about the courthouse auction, I am talking about an auction held by an official auction house. WARNING: I would stay away from this method of you are just getting started. In fact, I am not going to go into any detail on this technique. If you are an active and seasoned investor, you are most likely already aware of this method.
These are the three methods that Andy and his partner use to buy REO properties at pennies on the dollar. I recently made a class with Andy called the “Become an REO Expert” class which you can get your hands on for under $25! You also get the “Learn to Lease Purchase” class and an interview with a real REO expert!
Cheers,
~ Ross Treakle
This is the third installment of “The Foreclosure Process”. We have already covered Pre-Foreclosure and Foreclosure, today we will cover Post-Foreclosure.
The term Post-Foreclosure is not something that you often hear real estate investors talking about. You are more likely to hear the term REO or Real Estate Owned. This refers to bank owned properties that have completed the foreclosure process which culminated in a failed courthouse step auction.
At courthouse step auctions, it is a fact that a majority of properties are not sold. Sure a few properties are moved but the cash requirements and sheer volume of properties means that a majority of the homes at auction will be taken back by the lender.
Once the property is taken back by the lender, the property becomes a Post-Foreclosure which I will refer to from this point on as an REO.
There are a few ways to buy REO properties, I will cover two methods which make up probably 99% of REO properties sold.
The first method is to buy directly from the lender. A quick note of caution…DO NOT try to buy directly from a national lender! This method only works when buying from local banks. If you tried to contact a national bank, you would probably never get in touch with the right person and your efforts will go unrewarded. Conversely, if you know the right things to say when contacting a local bank, you may be able to purchase the REO directly from the lender.
When calling on your local bank you will want to know the exact property you are calling about. If you just call and do not know any specifics, you will most likely never get past the gatekeeper. You can find out the property details by following the property though the foreclosure process which again culminates in a failed auction and subscribing to any number of foreclosure listing services.
One thing to note about contacting the local lenders…if you contact them the day after the failed auction, you may be able to catch them before they even officially have the property in their computers as an REO. This means that you will catch them before they have begun marketing the property or listed the property on the MLS. This is huge because if the bank is motivated, you may be able to negotiate a bigger discount when buying because they have not had any of the expenses associated with selling the property on their own.
The second method to buying REO’s is to find, meet and network with your local REO Agent’s. There are a handful of Realtors who focus on bank owned properties, I call them REO Agent’s. These agents are very unique in the fact that they have taken the time to contact the national lenders. They have built relationships and now those lenders in turn pass on their own REO properties to those agents.
When you are contacting the local banks, you might come across a bank that says that they only sell their REO properties through a real estate agent. That person is an REO Agent and may very likely have REO properties from several lenders. Over time you will learn who the REO agents are in your area and you will be able to go back to them over and over and over again.
That is one of the best things about investing in REO’s. Once you have a relationship with a few REO Agents, you will be able to get deal after deal after deal. The most important thing that you can do to grow a profitable relationship is to be able to actually close on the properties you attempt to buy. If you say you are going to buy a property and then back down because you do not have the financing, you might have just blown your one chance to build a quality relation with your local REO Agent.
I hope this has given you a little insight into the world of the Post-Foreclosure. I have created a very cheap and affordable recording called “Become an REO Expert”. The website to advertise that program is not yet finished but you can get the REO program along with my “Learn To Lease Purchase” class by clicking the link below.
Cheers,
Ross Treakle
I wrote something a while back about a story that Andy Heller recently shared with me. It really gets to the point about how powerful the Lease Purchase strategy can be when used correctly in today’s market.
“During the “Learn To Lease Purchase” class, our special guest Andy Heller shared a scenario with me that really speaks volumes to the power of the Lease Purchase strategy. That story went a little something like this…
Andy had a property which he had a tenant buyer move into several years back. For whatever reason the tenant was not making payments and it was looking like Andy was going to have to evict the tenant. As the process began, Andy decided to start the search for a new tenant buyer by placing an ad in the local newspaper.
After a few days Andy had received a half dozen quality leads and he was ready to move forward when, all of a sudden, the current tenant received a loan from his mom and caught up the back payments. So the tenant stayed in the home and Andy had a half dozen leads he had nothing to do with…Keep in mind that this first scenario took place during our booming real estate market.
Fast forward a few years to the present. We are in a declining real estate market when the same thing happened on the same property. The tenant became late with his payments and Andy was going to have to evict. Andy decided to run the same ad in the same newspaper, but guess what happened this time?
Andy received over 50 qualified leads of potential lease purchasers!
Don’t you think that it would be a wise decision to Learn To Lease Purchase?”
I hope that this little story inspires you to add the Lease Purchase strategy to your investor toolbox.
Cheers,
~ Ross Treakle
