Aug
25How To Get Short Sales Approved in 24 Hours
Posted By: Ramon Rivas on August 25, 2010 at 7:16 pmGet Short Sales Approved in 24 Hours and Learn How to become a “Super Wholesaler” all at the same time!
You’re about to discover my proven strategy for BECOMING THE BANK and getting Short Sale Approvals in as little as 24-HOURS!
(NO ONE ELSE in the country even knows this strategy exists, but it’s amazingly simple and I do it every day to make a KILLING! You can too…)
| Filed Under: Articles , Foreclosures Tagged with 24 Hours, 24 Hours Short Sales, bank owned, Bank Owned Properties, Bulk REO Investing, Bulk REO Trader, Discover, Kenny Rushing, Real Estate, Real Estate Investment, Short Sale Approvals, short sales, Wholesaler |
Aug
20Is Kenny Rushing really giving away a FREE House?
Posted By: Ramon Rivas on August 20, 2010 at 6:00 pmEarlier today I sent an email that has created a lot of controversy, so I decided to give more details here…
As you know, I’ve been talking about Kenny Rushing, the only guy I know who is successfully turning over Bulk REO packages and making a ton of money while at it.
Kenny made $400K in profit on his first Bulk REO deal, and since then he’s made a lot more, plus he gets free houses in some of these deals. So, to prove that his techniques really work, he decided to give away 3 houses FREE (taxes and insurance included for one year) to students of his coming Bulk REO Trader course.
– >> Find out More about how you can get one of those houses here << –
There’s no one teaching these strategies on the planet. That’s because Kenny created much of the no money down techniques you’ll discover as you read the Conspiracy Report.
Now you too can join the ranks of the world’s most rich and powerful. Private equity firms, hedge funds, and high net worth individuals are investing millions in this area. Now it’s time for you to claim your share regardless of your current financial situation.
Jun
17What Factors are Used to Calculate Credit Scores
Posted By: Ramon Rivas on June 17, 2010 at 6:35 pmIn the US, your credit rating is extremely important. Having a good score opens doors for you and an unsatisfactory score will slam them in your face. Your credit score actually represents the risk that the lender assumes in order to loan you money and determines how big your loan can be. So what are the factors that help calculate credit scores?
1. Payment history. The record of payments you have made to all of your creditors is the biggest factor (35% of your score) that’s taken into consideration when figuring out your credit rating. It doesn’t take much to lower your rating. Even late payments take their toll. Of course, missed payments and defaults on debts will make a bigger mark. Any bad marks on your credit report will stay there for seven years, with generally no exception. Even if you’ve paid off the debt, it will most likely not be erased from your report until the 7-year period is up.
2. credit card usage ratio. Your credit card usage ratio (30% of your score) compares the amount of credit you have available to you to the amount you are using. Your score is better (higher) if you are not using all of your credit. If you think that paying off an account and closing it is a good idea, think again. That could actually drop your score in this department. The best solution is to have several accounts open and not use all of them. This is viewed upon as an advantage by potential lenders.
3. credit history length. How long you have been using credit is another issue when it comes to how to calculate credit scores–it accounts for about 15% of the total. Again, if you remember that your credit score is what lenders are looking at to determine your loan eligibility, you can understand why this is important. They tend to view someone who has long credit history and a few marks against him/her as more favorable than someone with a short, perfect credit history. This is a good reason to have your kids start making credit history early (and in a responsible way with your guidance).
4. credit variety. This makes up about 10% of your score. Believe it or not, it helps your score if you have many types of debt (credit cards, mortgage, car loans, etc).
5. Your stability. This includes how long you’ve been at your job, how solid the job is and how long you’ve been living at your current address. If you’ve been at your address for less than three years, this is viewed as less than stable.
Now you know what factors are used to calculate credit scores. Understanding them is important because it allows you to take action on certain aspects that you have the power to change. Hopefully you can use these guidelines to establish good credit or bring your current credit score up a notch or two.
foreclosure auctions always have two sides. They can either blow your budget or make you rich beyond your farthest dreams or even something in between. People might seem like innocent spectators at an auction. The hard truth is that they have all come for the same thing: to buy a piece of art, to buy a cool car, to buy a home or something else. When you buy something, it has to be good for you. You also need to know whether you are there with business purposes, or if you just enjoy buying special objects. In either case, you need to succeed.
Let’s say you’re representing a company. You need to buy that something at the best possible rate. As a company, how would you think optimally? Are you willing to use your company’s entire budget, just to buy what you need? Or will you try to buy something which will make you earn more money, and can you do that by spending as less as you can? Hopefully, you think about the last question, to buy a lot, and spend the minimal.
You have to think good and fast. You know what your budget is. You just calculate: if you’d buy a home or a building, you could spend maximally half of your budget. By acknowledging this, your success is almost guaranteed. Just one more thing you need to do is to be even smarter. If you know, that you have 3 very good homes, that you’d buy, don’t buy the first if it isn’t the best. Maybe, if you wait for the 3rd, and negotiate like a pro, you will get that estate at a very low price, so you’ll be happy for waiting just a a while longer.
If you have bought an estate, or maybe more (depending on your budget, the auction and the possibilities), and those are valuable ones, you are already on the road to success. The next, and last thing you’ll need, is to learn, how to make a good profit out of them.
On the other hand, you could be just a simple person. You have no employees and you’re on your own. When talking about someone, it could be an amateur or an investor. Amateurs just buy estates to suit the needs of themselves or their families. There are even those people, who, for instance, collect old cars. You could buy something, only because it’s your hobby.
What if you want to invest? Do you need to have a company? No, not really. Simple people can also make investments. Even more, if you’re smart, you can exceed a small company’s budget and/or profit.
A successful buyer only buys what he/she needs. Also, you need to ensure not to exceed the available budget. Furthermore, buyers look for the best quality at the best rates available.
Successful investors are successful buyers also. It’s just that they have an extra plan, and know how to invest. Investors need think in advance. They have to foresee every side of their own business plan, and make it work, so they will earn money (instead of loosing money). Buyers only lose money. Investors lose some money, but can earn it back hundred fold.
In order to succeed, you have to pay attention, to think economically, and to think fast. Ask yourself: Do I need that? Do I want to earn money? Do I have that kind of money available?
Analyze all the pros and cons and then make a wise decision. Success will surely follow you.
Jun
16Buyers: How to Convince a Mortgage Lender to Agree to a Foreclosure Short Sale
Posted By: Ramon Rivas on June 16, 2010 at 10:20 pmIn the United States, most properties are sold through professional real estate agents. However, many list their homes or properties for sale by owner. Most do this because they have complete freedom over the sale. They can choose how much they want to sell the property for, to who, and when. With the current state of the real estate market, many selling their homes are doing so to avoid foreclosure. They simply cannot afford the property anymore. A sale prevents foreclosure.
If you are looking to buy your first home for cheap or make a profit through renting or reselling, you should target these types of homes. Unfortunately, it isn’t always easy. Most home sellers will not Advertise upfront that they are selling their home to avoid foreclosure. First, you need to schedule a meeting. Ask to for a showing of the property. Start a conversation. Be friendly. In no time at all, you may have the full story behind the sale. It may be due to relocation, but it may also be due to foreclosure. If this is mentioned, ask out of curiosity for the mortgage lender’s name. Be discrete about it. “Who is your mortgage lender? They really aren’t willing to work with you?”
If you like the property in question, inquire more about the selling price. Is it inline with the home’s appraised value? It should be. In fact, it should be less. A homeowner who is selling their home to avoid foreclosure should be willing to take just about anything. Their main goal should be to pay off their mortgage. This mean you should get a good deal. If not, try bargaining first. If the outstanding mortgage is a relatively low or affordable figure, offer that as your asking price. As a good deed, offer to throw in an extra thousand or so for the cost of relocation or first and last months rent. If you are met with a refusal, you may just move on. But, you do have another option.
As previously stated, you want to get the name of the mortgage lender. Although a little deceitful, it can result in a low-cost home or property for you. What you do is approach the lender. Speak to a loan officer. State you tried to buy the home, but the sellers were asking too much. Emphasize your interest in the home, but state your unwillingness to pay an unfair value. See what the mortgage lender can do for you. In fact, suggest a short sale. Only do this if the borrow and current home seller outright stated that their home will be foreclosed on.
A foreclosure short sale is an agreement between the mortgage lender and the homeowner. They agree to sell the home for less than the outstanding mortgage on the home. Borrowers accept this to avoid foreclosure. The home sells and they don’t have a foreclosure listed on their credit report and bankruptcy is avoided. Mortgage lenders agree to short sales because they want their money, even if less than what is owed. It also saves them from long and costly foreclosure proceedings, where many borrowers and occupants become difficult and unruly.
If you approach a financial lender acquiring about a short sale, it will not happening right away. Remember, the borrower is still trying to sell their home independently. With the poor state of the real estate market, many homebuyers are unable to secure needed financing. This means that many homes sit on the real estate market for months. It may take a month or more or threats from a mortgage lender about foreclosure before the borrower agrees to a short sale. But, if you approached the mortgage lender and already made an offer, you should be the first person they contact!
Convincing a mortgage lender to agree to a short sale on a property you do not own is risky. You risk insulting the mortgage lender and the homeowner, but if you want to profit from soon-to-be foreclosed properties, you must take risks.






