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Thursday, January 28, 2021

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

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Watch Video

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/

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-are-encumbrances/

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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/

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-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.

Thursday, January 28, 2021

Wednesday, January 27, 2021

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