Discover the Best Real Estate Investing Courses: January 2021

Sunday, January 31, 2021

Free eBooks - Warren Whitlock

Warren Whitlock’s mission to help brands improve the results of their digital marketing.

https://warrenwhitlock.com/

Throughout his career, he has created new strategies to use influence and persuasion to help his clients to achieve their goals.

“I set hard sales goals and measured performance but never forget that people hate being sold, but love to buy.”

Warren Whitlock has been an entrepreneur in the computer, publishing, and media industries. He looks for collaborations where brands can share resources, extend their reach and give customers an experience they will want to share with others.

Warren currently partnering with IBM Futurists and a few brands and startups along with keynotes where I can engage executives transforming their organizations for an abundant future.

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Success Challenges in Business and Marketing with Chaffee-Thanh Nguyen

Success Challenges

Description:

Biggest challenges to success...
1) Comfort Zone - No sense of Urgency
No BURNING Desire
2) Fear - of failure, success, unknown
Paralysis Analysis
No Action
3) Lack of Belief in oneself
Constantly questioning
Giving up
4) No Plan of Action - No Strategy
No Consistency
No Persistence
5) No Coach, guide, mentor
6) Not taking responsibility for your own life.
Blaming others and other things
Not accepting/taking control
7) No Team / Doing everything yourself

http://www.keyconceptcoaching.com
https://www.PowerPodcasters.com
#ScottPaton #BusinessSuccess #Mindset

Watch Video

Success Challenges - Fear

Success Challenges

Biggest challenges to success...
1) Comfort Zone - No sense of Urgency
No BURNING Desire
2) Fear - of failure, success, unknown
Paralysis Analysis
No Action
3) Lack of Belief in oneself
Constantly questioning
Giving up
4) No Plan of Action - No Strategy
No Consistency
No Persistence
5) No Coach, guide, mentor
6) Not taking responsibility for your own life.
Blaming others and other things
Not accepting/taking control
7) No Team / Doing everything yourself

Courses:
Take our other courses:
Business Networking for Success and Company Growth: Part 1
https://www.udemy.com/course/business-networking-1/?referralCode=E64BBA725082511DAA24
Business Networking for Success and Company Growth: Part 2
https://www.udemy.com/course/business-networking-for-success-2/?referralCode=71FCC844DF1154F93150
Business Networking for Success and Company Growth: Part 3
https://www.udemy.com/course/business-networking-for-success-3/?referralCode=EC4ED406E574E0DC9571
Business Networking for Success and Company Growth: Part 4
https://www.udemy.com/course/business-networking-for-success-4/?referralCode=C9AF5EA39006452920AC
Business Networking for Success and Company Growth: Part 5
https://www.udemy.com/course/business-networking-for-success-5-influence/?referralCode=918C0F510FAD89C30132
Business Networking for Success and Company Growth: Part 6
https://www.udemy.com/course/business-networking-part-6-persuasion-strategies/?referralCode=B3C3D651EBE8595DC0FD
Business Networking Part 7 - Success is in The Follow Up
https://www.udemy.com/course/business-networking-7-success/?referralCode=091C2A9521B6298D298B
Business Networking Part 8 - The Follow Up Plan
https://www.udemy.com/course/business-networking-part-8-follow-up/?referralCode=4D60500409CF3CCA897B
Business Networking Part 9 - Attracting Your Ideal Client
https://www.udemy.com/course/business-networking-part-9-attracting-your-ideal-client/?referralCode=EC10166FFCBCBCD5FC93
The Obvious Secrets To Success No One Knows
https://www.udemy.com/course/success-secrets-coach/?referralCode=7DB34499E8E3009E7603
Living Your Dreams With Unstoppable Passion
https://www.udemy.com/course/draft/3004208/?referralCode=4CAE3580BFD32B0F1C6E

http://www.keyconceptcoaching.com
https://www.PoweerPodcasters.com
#ScottPaton #BusinessSuccess #Mindset

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Friday, January 29, 2021

59 - What is Market Value? - Effortless Home Buyers

https://u109893.h.reiblackbook.com/seller6/effortless-home-buyers/59-what-is-market-value-effortless-home-buyers/

Today Steven Wear discusses the topic “market value”.

Market value is a familiar term in real estate but there is more than it meets the eye.

Market value is the worth of the property on the market, seems easy to understand right?

But the question is, “what is your market?”.

Remember, a property is only worth what it will sell for. Looking at other listings of
properties won’t actually give an actual depiction of what your market value is.

https://www.effortlesshomebuyers.com/

Real estate is a people business, and you, as our client, are what’s most important to us.

Whether you’re trying to sell, buy, rent, or repair your credit so that you can do any of those, real estate can be a confusing, overwhelming, and disappointing endeavor.

However, it really doesn’t have to be painful. When you have the right education and honest people on your team, real estate becomes something that’s working for you.

We’re here to simplify your life, so you can spend less time worrying about real estate and more time living. As experienced real estate professionals, we buy and sell property across the nation with the primary intent of creating positive outcomes for people in predicaments.

Our job is to make your life easier, and because we are investors, we have the flexibility to offer you multiple solutions when buying and selling property.

#realestateinvesting #buyhomesfast #Stopforeclosures

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Hi, this is Steven with Effortless Home Buyers. One of the most common questions that we get from people that are working with us is what is market value? It's a term that gets tossed around a lot in real estate, but really is ambiguous when it comes to a meaning. So market value is what a property is worth on the market, seems pretty straightforward, but really isn't because the market determines what a value is, but what is your market? It depends on what sort of sales transaction you're pursuing. So for instance, if you were selling a property to an owner, occupant using a real estate agent on the MLS, just a typical real estate transition, the market would be general population, people that are looking to be living in a house. They have some investors in there, but primarily when you're using a real estate agent, it's going to be living in the house.

Now, if you're using the investor market value can be slightly different because market is now just investors. When you're selling to people that are looking to do a lease option or some other more advanced sort of real estate technique, the market gets even smaller. So the short answer is that market value is pretty subjective, but in general, when market value is used as a term, it's referring to what is the largest population of potential buyers thinking of this property being worth? How market value is typically calculated is by looking at similar properties in the immediate area that have sold. So if your property is four bedrooms, two bathrooms, and it's a ranch home, typically looking at other four bedroom, two bath ranch homes in the immediate area without crossing any sort of major roads or parks or geographic obstacles like rivers, that would be a good way to determine what your property is worth, because a property is only worth what it will sell for. So looking at other listings of properties, isn't actually going to give an accurate depiction of what your market value is.

58 - What is clear title?

https://u109893.h.reiblackbook.com/seller6/effortless-home-buyers/58-what-is-clear-title/

Understanding what is a clear title

When a buyer is going to purchase a property from a seller, both parties should legally be able to do that. So a title company can look into the chain of titles to look at everyone who has ever bought and sold the property to make sure all is legal.

This is basically proving that the seller has the ability to sell that property.

To find out more about this, you can visit our website at: https://www.effortlesshomebuyers.com/

Fernando O. Angelucci is Founder and President of Titan Wealth Group. He also leads the firm’s finance and acquisitions departments. Fernando Angelucci and Steven Wear founded Titan Wealth Group in 2015, and under his leadership, the firm’s revenue has grown over 100% year over year. Today,

Find out more at
https://www.TheStorageStud.com
https://titanwealthgroup.com/
Listen to our Podcast:
https://thestoragestud.podbean.com/e/effortless-home-buyers-what-is-clear-title/

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What does Clear Title mean? When someone goes to sell and someone goes to buy a property, they need to make sure that both parties have the ability and the right legally to do so. So what is usually done is a title company, or an attorney will go through the chain of title and we'll look at everyone that's ever bought and sold this property over a certain period of time, maybe 50, 75 or a hundred years to make sure that each one of those conveyances or those transfers of the property were legal. This is a way to make sure that you don't have just some random person saying, Hey, I'm going to sell you the Eiffel tower. And I own it, well it's okay. Prove it to me that you own the Eiffel tower and that you can sell it to me. So title is that way of proving that the seller has the ability to sell the property to you. Now, just because the seller owns the property doesn't mean that they have Clear Title. So say for example, they, the seller did not pay their water bills or do not pay their property taxes. Liens will be put on to the property, which will cloud title, meaning that it is going to be no title company will ensure that and will not. No seller will be able to sell that legally without removing those encumbrances or those liens and clearing the title.

57 - What is a contractor lien?

https://u109893.h.reiblackbook.com/seller6/effortless-home-buyers/57-what-is-a-contractor-lien/

Understanding contractor lien

This is placed by a contractor who did work on a home and is not paid. It states this seller is unable to sell the property until my debts are paid.

To find out more about this, you can visit our website at: https://www.effortlesshomebuyers.com/

Find out more at
https://www.TheStorageStud.com
https://titanwealthgroup.com/
Listen to our Podcast:
https://thestoragestud.podbean.com/e/effortless-home-buyers-what-is-a-contractor-lien/

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What is a Contractor lien or a Mechanics lien? So when a contractor performs work on a home if they are not paid for that work, what they'll do is actually place a lien or an encumbrance on your property that states this seller is unable to sell this property until my debts are paid. Usually when we're doing rehabs, as we go throughout the stages of the rehab, every time a contractor wants payment, we'll ask them for a lien waiver for the portion of the work that they've done. You have to be very careful. There are you know, some unscrupulous contractors out there that even after you get paid or after they get paid, they may put a Mechanics lien or a Contractor lien on your property. So always make sure that if you're paying a contractor, that there is a receipt for the payment and that you receive a lien waiver from them so that they can not encumber your home.

56 - Do encumbrances need to be cleared before closing?

https://u109893.h.reiblackbook.com/seller6/effortless-home-buyers/56-do-encumbrances-need-to-be-cleared-before-closing/

Do encumbrances need to be cleared before closing?

That’s a good question. And the answer is yes. It can happen before or at closing. Basically, the property cannot be transferred to a new owner until the encumbrance is removed or satisfied.

To find out more about this, you can visit our website at: https://www.effortlesshomebuyers.com/

Find out more at
https://www.TheStorageStud.com
https://titanwealthgroup.com/
Listen to our Podcast:
https://thestoragestud.podbean.com/e/effortless-home-buyers-do-encumbrances-need-to-be-cleared-before-closing/

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Do Encumbrances need to be cleared before closing? And the answer is yes. It doesn't necessarily need to happen before closing, but it can happen at closing. The only thing is that the property will be unable to be transferred to a new buyer until those Encumbrances are removed or satisfied.

Thursday, January 28, 2021

Fernando’s Year-End Review & Predictions for 2021 in The Residential Market

https://u109893.h.reiblackbook.com/generic11/the-storage-stud/fernandos-year-end-review-predictions-for-2021-in-the-residential-market/

Welcome to the last video of the year 2020 by Fernando.

Today, as the title implies, he would like to make a year-end review and predictions for 2021 in the residential market.

It’s been a crazy year in the residential space and the Storage Stud believes that more craziness will take place.

For Fernando, 2020 was an interesting year. A lot of surprises and turmoil happened in the residential business. When Covid-19 hit the US, there’s a huge prediction that it would negatively affect the housing market. They say that prices will drop.

A lot of people also compared this pandemic event to the 2008-2009 recession. For Fernando, there are a lot of factors he considers differently when he compares the two events.

For one, the 2008-2009 crash happened because there were a lot of “bad loans” hitting the street. The lending requirement that was placed at that time was not properly done. Basically, people can get loans with no documents and no proof of income.

This is not the case for 2020. It is actually quite the opposite. The lending system became very strict. Instead of prices going down, the prices actually went up. Fernando thinks that one of the main reasons this happened is because of the shortage of inventory.

A lot of sellers refrained to put their houses or property on the list because they don’t want other people coming into their homes for fear of getting affected by Covid-19.

There are a lot of other issues about what happened in real estate this year that Fernando touches on in this video.

But the most important thing that he wants to share is that he is still looking for deals. He’s reaching out to anyone that thinks that they might be in a tough situation that they need to get out of, without letting the bank dictate their life. If somebody is going through a short sale he and his team are willing to help these people in any way they can.

Find out more at
https://www.TheStorageStud.com
https://titanwealthgroup.com/
Listen to our Podcast:
https://thestoragestud.podbean.com/

------------------------------------------------

Hello, everyone! Welcome to the last video of the year. I thought it would be pretty good for us to do a 2020 in review and then a predictions for 2021. See what's going on. So, it's been a crazy year in the residential space and I think we have some more craziness abound coming for us. So first, let's look back. You know, 2020 was very interesting year. There was a lot of surprises and a lot of turmoil. If you will. In the residential space specifically, when the novel coronavirus, hit the United States, there was this huge prediction from a lot of the big houses that thought this was going to affect the housing market pretty substantially, in a negative way where it would, it was going to cause prices to drop. A lot of people were comparing this with the 2008, 2009 crash.

I think there was a lot of factors that were different than 08, 09. One of the biggest ones was the, one of the major reasons that, 08, 09 crash happened was because of the lending. The lending requirements that were in place at time and how people couldn't get basically no dock loans, no proof of income loans. There's just a lot of bad loans hitting the streets. That was not the case in 2020, it was actually quite the opposite. Lending was very strict. And the biggest issue was, we saw actually the opposite happened where instead of prices really tanking, prices started going up. And one of the main reasons I think that happened was because of the shortage of inventory. You know, when you don't know if someone on the street has coronavirus, it takes a while for symptoms to show, you're not going to want people walking through your home.

So, a lot of listings that potentially would have hit the market, those sellers refrained from listing their properties. In addition, there were many people that were hit financially. So, as opposed to, you know, selling their home and then trading up or selling their home and then trading down and incurring all of those transaction costs, they just decided to stay put, and actually spend money on home improvement as opposed to moving. And we saw a lot of that. I've been hearing it from many of my contractors that they're so busy, they're booked out four or five months, lot more retail level construction, as opposed to investor construction. So, a big uptick on the retail side, which is good for the contractors because they usually make anywhere between 30 to 60% more when they have a retail client, as opposed to investor client that kind of demands the proper pricing.

We know our pricing line item by line item. So, that was very interesting. Another thing that we noticed was, there was kind of this disparity more than ever. We're seeing that there's kind of two Americas here. There are the haves and the have-nots. So, you know, some of the have-nots were those that, had jobs that were affected by the pandemic. They couldn't go to work. They couldn't make a living, you know, all of a sudden, either new homes that they purchased, they couldn't afford or what they were planning on buying a new home and no longer could qualify. We saw a lot of offers falling out because the lender came back and said, this person does not qualify for this loan anymore because of losing their job or what have you. So, that was really interesting.

And it's pretty sad. But then on the opposite side, you have kind of the haves, the people that had recession, or I guess I should say pandemic resistant jobs. Those that can work from a computer, those that, you know, worked in the financial sector and the healthcare sector. These are all the types of people that, you know, they did really well, real estate investors, they did really well during the pandemic and because of that, we saw them going out and looking for housing specifically, the biggest things that I have heard from the street where people looking for more space, because now their kids are at home going to school while they're at home, trying to work in the space they had at the time, just didn't work. So, now they're looking for homes, they have an office, homes that have a dedicated playroom that's away from the office.

With those factors in place, what we started seeing is multiple bidding wars. So, we kind of had a double hit here. First, there was lower inventory. So, with lower supply price naturally goes up. But then on top of that, now you have a lot of these people that are financially capable and are looking to get out of their current situation into a new home. We were seeing properties as soon as something hit the market. It was selling within two weeks. Multiple, almost every property that I put up for sale this year, we had over 10 offers on every property, both on the retail side, as well as on the investor grade style properties that needed rehab. We saw a lot of homeowners that were willing to buy properties that were not in, let's say perfect move in condition. And they were willing to buy it, get into the home and then slowly do the repairs over time.

So, that was very interesting. On the end, on the backside of that. One of the things that I'm concerned about is the number of people that are not able to afford their mortgage are unable to afford their mortgage. Now, on this go round, I think the banks learned some pretty big lessons from 08, 09 and to not come in guns of blazing, cause then they know that they're going to be painted as the bad guy. And then further regulation is going to come down on them. So, this time around the banks have been saying that they're willing to work with people and really to, you know, take the missed payments that they had on the mortgage and attach it to the back of their loan. Now, of course, they're most likely, still going to have to pay interest on what they didn't pay.

They're probably going to have to pay late fees. And then, another thing that a good friend of mine, Eddie Speed was talking about with me, a few weeks back is, you have these modifications of these loans that the banks are claiming they're going to do for the homeowners. But, what they're not saying is the modification process also requires approval. It needs underwriting. And if all of a sudden you no longer qualify for a loan modification because your job has been permanently, you know, permanently deleted, you know, say a restaurant went under that you were working in, or, you know something that was very high touch business, retail for example, those, you know, those people, even though they didn't have, even though the bank said that they're willing to modify their mortgage, now they have no income to show when they go get underwritten by the bank.

And they're not going to qualify for these modifications. I think another thing that the banks learned from the last crash was to kind of stay under the radar. So, I think what's going to happen is these banks are going to slowly start bringing the foreclosures to market, as opposed to having everything hit at the same time, they're willing to hold these assets. But, they don't want to be in the news. So, as opposed to foreclosing on, you know, 8 million people at once, they're gonna trickle it in, you know, a couple of months here, a couple months there, different markets to try to stay below the radar. So, that's going to be very interesting. I personally am sitting on a lot of my cash for the residential side and the small multi-family side. I think there will be deals, to be had for real estate investors.

Just not anytime soon, we're still seeing pricing climb. It's climbing at a slower pace now, than it was, but it's climbing nonetheless, so, the derivative is going negative, but the prices are still going up, but they're just kind of starting to round out a little bit like this. So, I think there's going to be deals to be had for real estate investors that can act quick, can pay cash, help people out of short sale or potential pre-foreclosure situations, help them, you know, avoid these massive hits to their credit. But, I don't think that's going to come around until, you know, late 2021, if not early 2022. And again, it's going to be disproportionately those properties that are, that someone that was affected by the pandemic would have, so, you know, starter homes, homes in areas that are very retail driven.

You know, you may be even a little bit of step up homes. The luxury market we have been seeing has been doing pretty, okay. A lot of these high income earners that weren't affected, they're looking for homes, they're trying to find something bigger, something with additional office space and, and play rooms. We have noticed somewhat of a migration out of inner cities and city centers and more into suburbs and even rural communities. Another thing that has been interesting with the local municipalities is, because of this drop in economic activity, the cities are not collecting as much as they would have on taxes. So, what we're starting to see is property taxes are going up. There's a lot of motions to try to increase sales tax and a lot of these other revenue generation models to kind of help the cities keep functioning.

I personally live in Chicago, Illinois, and we're seeing it. Some of the properties that I own last year, the property taxes went up 30 to 50% in one year. It was ridiculous. And that's kind of the reason why I decided about two years ago to start selling all of my residential and multi-family properties. So, now we're on it. We're going to sit here and focus on transactions only. So, brokerage wholesale, lease option, anything that we can control the property without actually taking the liability on that property or taking title to that property, that's what we're focusing on. And then, only approaching projects that have a large, large margin so that we can be safe in case the market moves on as faster than we expect. So, that's kind of what I see going forward for 2021. I personally am holding cash.

I'm looking for deals. I'm reaching out to anyone that thinks they might be in a tough situation. They need to get out without letting the bank really dictate their life. So, if somebody is going through a short sale or, you know, got to receive the Lis pendens for a pre-foreclosure or foreclosure, we're trying to help these people in any way we can. Either purchase their property or partner with them to renovate the property with them and split the profits, doing lease options or lease backs. Maybe they can't afford the house. So, we'll buy it, we'll rent it back to them and then, you know, potentially sell it to them later on, one that once they become more financially stable and can get a purchase loan to cash us out. These are kind of the strategies we're looking at, right now.

But on the, as far as the real estate investors go, I, in the early into the pandemic, maybe Q1, Q2, I saw a lot of cash buyers and a lot of real estate developers and investors kind of sit back, pull all their chips off the table. You know, we have about 6,100 buyers on our list for residential properties in the Chicago land area. And we started getting less and less responses to our properties. That being said, the ones that had properly planned had a bunch of cash sitting around, they were still making offers and on all of our off-market properties. We were receiving probably 10 to 20 offers on any given property, usually in, you know, much higher than what we put them out to the market for. There's a couple properties that we sold 10, 20, $30,000 above what our asking price was. I personally don't see how these investors can, you know,

Take that small of a margin and feel comfortable, but that's why I'm not the end investor on these ones. I usually just source the deals for those investors. Maybe they have, maybe have really good crews that can keep those margins down or had other ways of cutting costs. So, that was very interesting to notice how, you know, kind of half of our investor base went radio silent, but the other half that didn't all of a sudden they were dropping their margins to be able to get deals just because, they can't find anything. Anything that comes available usually is sold within one to two weeks. So, we had a deal that we sent out two days ago and it was, we got a contract on it within 25 minutes of the email blast going out, sight unseen. They didn't even want to see the property. They just wanted to lock it up because they were having such a hard time getting inventory for their fix and flip and they're buying hold portfolio. So, it's very interesting. We'll see,

What the future has in-store. 2020 was a very interesting year. It was a very good year for us. We focus on processes. We focused on systematizing our business, hiring people to replace the bottlenecks. There's a lot of talent in the market right now. Usually talent that we would have to pay, you know, 30, 40% more for were able to pick up just because, you know, they lost their job. They don't know what to do or where to go, and they just want to put some income on the table. So, a lot of people are now becoming more and more interested in working for, you know, entrepreneurs and working for investors in the real estate game. So, it's been really good for us. I do feel for the people out there that haven't had, you know, as good of an experience, it's really tough.

But, this is one of the reasons why I went into real estate. Why I became a business owner was when I read Rich Dad, Poor Dad when I was 16 years old. One of the few things in that book that stuck out to me was when you tell someone you're gonna become a business owner or a real estate investor, the very first thing they say is, well, that's gotta be super risky. And what Robert Kiyosaki said. And what I echo now is I think being an employee is even more risky because at least as an entrepreneur, I can go make money when I need it. I can hustle. I can put in more hours, I can cut costs. I have the control of whether or not I make money, whether or not I have a job, but when you leave your fate to your boss or a group of bosses, and they may not be as good at planning as you are, you know, that your fate ultimately is in their hands.

For example, the restaurant industry on average, the restaurant industry cross Chicago had 13 days worth of expenses and savings. So, that they would only be able to weather a 13 day hit. We had six months of savings in our business to cover literally all expenses. So, you know, it's one of those things where it's tough to see people go, but it also came down to, you know, did you plan for the worst? Or did you just think things were going to keep going the way they were? So, it was really tough to see that I had a lot of friends that were impacted, but I think, this is going to spur more people to go into entrepreneurship and real estate investment specifically. It's a really great asset class, a good way to make a living and provide for future generations.

So, that's kind of my end of the year predictions for next year and review the previous year. I hope you guys have a Happy Holiday and a safe holiday, and hopefully we'll see you guys on the other side and this will all be a dream. Thanks a lot! Feel free to drop any comments below, any questions or any topics you'd like us to cover. Make sure to subscribe, hit the like button you know, hit the little bell for all the notifications, all that jazz and feel free to reach out. If you have any questions for me specifically, you can drop those in the comments. You can reach out to me on my social media. You can check us out on our websites. So, until next time. Thanks guys.

Success Challenges

Biggest challenges to success...
1) Comfort Zone - No sense of Urgency
No BURNING Desire

2) Fear - of failure, success, unknown
Paralysis Analysis
No Action

3) Lack of Belief in oneself
Constantly questioning
Giving up

4) No Plan of Action - No Strategy
No Consistency
No Persistence

5) No Coach, guide, mentor

6) Not taking responsibility for your own life.
Blaming others and other things
Not accepting/taking control

7) No Team / Doing everything yourself

Take our other courses:
Business Networking for Success and Company Growth: Part 1
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Business Networking for Success and Company Growth: Part 5
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Business Networking for Success and Company Growth: Part 6
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Business Networking Part 7 - Success is in The Follow Up
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Business Networking Part 8 - The Follow Up Plan
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Business Networking Part 9 - Attracting Your Ideal Client
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The Obvious Secrets To Success No One Knows
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Living Your Dreams With Unstoppable Passion
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#ScottPaton #BusinessSuccess #Mindset #ChaffeeThanhNguyen

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55 - What are encumbrances?

https://u109893.h.reiblackbook.com/seller6/effortless-home-buyers/55-what-are-encumbrances/

What are encumbrances?

An encumbrance is something that is placed on the title of the property which says the property cannot be sold until it is removed. It can be a mortgage for example or a mechanics lien or property taxes.

At Effortless Home Buyers, we deal with this all the time.

To find out more about this, you can visit our website at: https://www.effortlesshomebuyers.com/

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So what are Encumbrances? So an Encumbrance is something that's placed on the title of the property saying that someone can not sell this property until this Encumbrances is removed. This can be a mortgage. This can be a mechanics lien. This can be back taxes or property taxes that haven't been paid. It may be a judgement of some kind if you went through bankruptcy or if you lost a lawsuit that can be an encumbrance on the sale of your property. And to be able to transfer that property, you'll have to remove those Encumbrances. We deal with this all the time. We specialize in buying properties that have these types of distress situations around them. So when it comes to Encumbrances the biggest thing is you just gotta make sure that those creditors are satisfied so that you can sell those properties and you can do everything at once. You can sell the property to then pay off all the Encumbrances in a almost simultaneous transaction at closing.

54 - What is a tax lien?

https://u109893.h.reiblackbook.com/seller6/effortless-home-buyers/54-what-is-a-tax-lien/

What is a tax lien?

A lien is a creditor placing judgement on a property. A mortgage is an example of a lien.

When you don’t pay taxes, a tax lien is placed on the property. Now the option is to sell it and use the proceeds to pay off the lien.

At Effortless Home Buyers, we can help take care of everything.

To find out more about this, you can visit our website at: https://www.effortlesshomebuyers.com/

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Listen to our Podcast:
https://thestoragestud.podbean.com/e/effortless-home-buyers-what-is-a-tax-lien/

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So what is a Tax Lien? And do we buy properties that have Tax Liens on them? And the answer is yes. So a Tax Lien, a lien is a creditor placing a basically a judgment on your property saying, this person cannot sell their property until they pay this debt back. A mortgage is an example of a lien. When you don't pay your taxes, it can either be property taxes, or it can be your income taxes, when you don't pay your taxes, the body that is owed those taxes may and will place a lien on your property. If you're unable to pay those taxes off, to get their lien removed, usually the only option you'll have at that point is to sell the property and to use the proceeds of the sale to pay off that lien. Now, this is something that we can handle for you.

We, we do buy these types of properties and what will happen is all of that will be taken care of at closing. Our attorneys will handle the entire thing. They'll call all the creditors and say, how much is owed. Give us a payoff letter. And then from the proceeds, the attorneys and the title company will pay off all the liens to transfer title in a clean fashion. You cannot buy a property with liens on it and still get clean title. So they'll always have to be paid off. Once everything's paid off, if there's any proceeds left, then those proceeds will be distributed to you to go and, and start on the next chapter of your life.

53 - What is pre foreclosure?

https://u109893.h.reiblackbook.com/seller6/effortless-home-buyers/53-what-is-pre-foreclosure/

Understanding pre-foreclosure

Foreclosure is a one-time event where a property is sold at an auction to the highest bidder to pay the bank back for the loan that is on it.

Every point from the mortgage payment is missed until the auction, that is known as pre-foreclosure. This can happen due to many reasons. The important thing is to act quickly because a timer starts to tick.

To find out more about this, you can visit our website at: https://www.effortlesshomebuyers.com/

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So what is Pre-Foreclosure and Foreclosure? Well, Foreclosure is a one-time thing, that is when the property is sold at auction to the highest bidder to pay the bank back for the loan that they made on the property. But every point up and to that, until that, from the second that the mortgage payment was missed to the day that it gets sold at auction, that's what's known as Pre-Foreclosure. This usually comes about for many reasons, usually what we call it as CLE's or Catastrophic Life Events, something ends up happening and you're not able to afford your mortgage anymore. And if you're unable to negotiate with the bank to adjust your payments then you're usually not able to make those payments on a monthly basis. So as soon as you get into Pre-Foreclosure, it's very important to start acting quickly because now a timer has started.

It can be anywhere between three to nine months from the day you stop paying your mortgage to the day that you lose your property. And this as can be catastrophic in multiple ways. You know, the first is you lose your home. That's a very difficult thing to go through, but then there's all these lasting repercussions as well, if you don't act. If you go to Foreclosure that severely impacts your credit it can drop your credit score from anywhere between 200 and 300 points. When that happens now, getting any type of credit in the future, whether it be another home or a car, or maybe even potentially getting a lease to rent a place, these are all things that can affect you and may make it impossible to buy or rent a place or get debt for anywhere between 5, 10 years in the future.

So it's super important that you act fast. Give us a call the second that you know that you're going to be unable to make your payments, and we'll find a way to work with you. We can either buy the property from you. We can somehow do some type of lease agreement where we buy it and then lease the property back to you until you have the ability to buy it back from us. We can get you the cash so you can run and go start a new life, whatever it is. But the most important thing about Pre-Foreclosure and Foreclosure is that you need to start working on your solutions as soon as possible. If you just bury your head in the sand, it's only gonna get worse as time goes on.

Wednesday, January 27, 2021

52 - What is a buy and hold?

https://u109893.h.reiblackbook.com/seller6/effortless-home-buyers/52-what-is-a-buy-and-hold/

What is a buy and hold?

This is another real estate investor lingo. This is exactly what it sounds like. You buy a property then hold it as a rental to collect a monthly cashflow.

Buying and holding is the best way to build wealth. The monthly income helps scale businesses.

It’s almost like a retirement plan because you only have to do the work once.

To find out more about this, you can visit our website at: https://www.effortlesshomebuyers.com/

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So what is a Buy and Hold? And this is another real estate investor lingo here. A Buy and Hold is exactly what it sounds like. You buy a property, you may need to do some repairs, you may not. And then you actually, instead of reselling it to get your profit, you hold it as a rental, and you rent it out to a tenant and collect that monthly cashflow. What we found is that buying and holding properties is the best way to build wealth. That rental income coming in each month helps scale your business and scale your income. Whereas the Fix and Flipping that gives you big checks, but then you have to keep doing the Fix and Flip work. So the nice thing about Buy and Hold is that it's almost like a retirement plan. The more properties you Buy and Hold and you build up your portfolio.

It's nice because you only have to do the work once, which is you do the work upfront, you rehab the property, you get a tenant in place. And then what we do is then we give it to a property management company and they handle the rest going forward. So it allows us to slowly build our income, our monthly income over time. So in the beginning, it may not seem very sexy if you will, you know, making $200 a month on a rental, as far as profit goes, but then all of a sudden you have 10 of those. And now you're making $2,000 a month. And maybe now you have a hundred of those, and now you're making $20,000 a month and that's a pretty good living. So we always recommend people when they have the chance to hold on to their properties and to rent them out because that's what usually leads to generational wealth.

51 - What is a fix and flip?

https://u109893.h.reiblackbook.com/seller6/effortless-home-buyers/51-what-is-a-fix-and-flip/

What is a fix and flip?

This is a real estate lingo. What it means is we buy a property, we do all the work to fix it and sometimes even improve it. We take care of everything and then we list it to find a new homeowner to sell to.

To find out more about this, you can visit our website at: https://www.effortlesshomebuyers.com/

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What is a Fix and Flip? This is a lingo that real estate investors use. All that means is that we buy the property. We go in and we fix it, we do all of the repair cost estimates, we hire the contractors, they do all the work, and then we flip it. We go, and we list the property on the MLS. We find a homeowner and then sell it to that homeowner. This is one of those processes that it's. It is very risky, if you don't know what you're doing, you can lose money pretty quickly. When you're fixing properties, it's not unheard of to spend 50, a hundred or 150,000 on the repairs of the property, depending on the condition and the shape that it's in. When you go to Fix and Flip, you also have to realize where the income is coming from. Usually Fix and Flip investors are not doing everything with their own cash. They're usually putting up a portion of their own cash, and then for the remainder, they're either getting a bank loan or an investor comes in with a loan, or they may get a hard money lender to loan on the construction because the more they can leverage their funds, the more of these Fix and Flips they can do at one time to increase their cash on cash return. So that's what a Fix and Flip is.

50 - Do you buy pre foreclosure properties?

https://u109893.h.reiblackbook.com/seller6/effortless-home-buyers/50-do-you-buy-pre-foreclosure-properties/

Do we buy pre-foreclosure properties?

The answer is yes!

A pre-foreclosure property is when a seller stops paying their mortgage, the bank would sell the property on an auction if this is not fixed by the seller within a designated time frame.

This is very stressful because there is a time component as a part of the situation.

To find out more about this, you can visit our website at: https://www.effortlesshomebuyers.com/

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Do we buy Pre-Foreclosure Properties? And the answer is yes. What is a Pre-Foreclosure Properties? Well, when a seller stops making their mortgage payments for whatever reason usually after a few months, the bank will say, Hey, you have until this date to either catch up on all your payments and pay us all your late fees, or we're gonna sell the property at auction to the highest bidder to recoup the amount of money that we lent you. This is very stressful time. Just because it has a kind of a time component as a part of the process, we do buy these properties. The biggest thing about Pre-Foreclosures is to come and get our help as soon as possible. If you call our organization and you say, Hey, my property's gonna be auctioned tomorrow can you buy it? We most likely will not be able to buy it in time because there's a lot of things that we have to do.

We have to look at the condition. We have to do a repair process, and then we have to get contractors to give us a bid. We'll have to pull title, pulling title loan can take up to three days, where we start to be able to have a chance of closing on that property is if you come to us with at least two weeks before the pre-foreclosure ideally 30 days or more is going to be the best, cause then we can give you the best price. We can really do in-depth analysis on what the property is worth. And then we can go through the entire closing process without stressing the bank, stressing the attorneys, stressing the owner, stressing the title company. So yes, we do buy Pre-Foreclosure Properties, but this is one of those things where it is not good to just bury your head in the sand. You need to get in front of it and you need to act as soon as you realize you're not going to be able to pay your mortgage. You need to give us a call.

Sunday, January 31, 2021

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Thursday, January 28, 2021

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