Archive for the General category.
Sorry guys- been a long time. I’ve been SLAMMED with these REO Listings from Countrywide. I’ve sold 8 in the last 3 weeks, all with multiple offers ABOVE asking price, all within the first 3-4 days on market. Yes, the below $250k priced homes are flying off the market. We’re down to a 6 month inventory from a 14 month supply months ago in this price range, and it’s considered to be at a ‘balance market’ level. I’m not kidding- the below $250k REOs are flying right now- if they’re priced right. Email me if you want the best deals. I’ll try to update my market charts this week for you guys…
Well, much like the Builder-Implode site, here’s a sister site for Lenders, www.BankImplode.com. Same thing- has information on ‘Imploded’ banks, and ones that are in serious jeopardy of imploding. From their site, here’s a list…
Writedown Rundown & General Distress:
Name - ($) writedowns so far (does not include loss reserve increases or remaining exposure)
So, I just came across this site today- www.builder-implode.com. It’s funny, but also very interesting. They’ve got some decent information in there. They have a list of builders who have ‘imploded’, as well as a list of ones on the verge of ‘imploding’. According to the site, here’s the Top List of ones to come. Anyone interested in some Discounted Builder Inventory???
Ailing/Watch List*:
12. Pulte Homes Inc.
11. Centex Homes
10. D.R. Horton, Inc.
9. KBH Home Inc.
8. Hovnanian Enterprises Inc.
7. Ryland Group
6. Standard Pacific Homes
5. Kimball Hill
4. John Wieland Homes and Neighborhoods
3. Beazer Homes USA
2. Meritage Homes Corporation
1. Lennar
Yes, I intentionally mispell ‘week’ as ‘weak’ for a reason. There’s nothing exciting going on! We still have a mortgage ‘meltdown’ according to CNN, there’s still a ‘foreclosure crisis’, and the DEALS ARE EVERYWHERE. Everyone and their mother has a ‘plan’ to fix our current economy. The United States as a whole can’t determine if we’re in a recession or not. Britney Spears is still messed up. It’s just the same ol, same old. The question is, what are you doing about it?
I can’t even begin to tell you how many deals I’m finding out there right now. NOW is the time to be buying! Are you sitting on the sidelines watching it pass by? Or are you on the front lines taking a bite of the action? Right now is a defining moment for everyone- a moment when we’ll all look back and say either ‘I wish I would have" or "I’m soo glad I did!" Worried about cashflow in your investments? Now’s the time to find some great deals, and pick up some cashflow in AZ! This coming week I’ll start posting more deals that I’m finding out there. The important thing is, what are you going to do with it?
There’s soo many plans out there right now, I just don’t have the time to give them attention. Honestly, every day I read the news there’s a new plan being proposed to help ‘cure’ this mortgage crisis. There’s a new plan to help homeowners avoid foreclosure, and walk from the debts they owe, unharmed. It’s getting ridiculous. The media is eating it up. What it’s really doing is destroying any credibility of a REAL plan actually going through. At this point, until I see it about to be voted on, I won’t give it the time of day. Most of them are great ideas for selling advertising space and commercial air time, but will never fly in actuality.
For example- I just read 2 plans out today. One will allow State and Federal Judges to reduce the principle balance (as well as reorganize the terms in the Mortgage Note) in order to reduce the payments for homeowners. This is great for homeowners, as they can keep their home, reduce their payments, and wallk from what they owe (and spent!). My reaction? No way in hell will the lending institutions allow a State judge to dip into their lending portfolios and completely take money out of their pockets. It just won’t happen, politicians will be thrown out of office if it even got close to passing.
The other ‘plan’ would allow borrowers to reduce their principle balance on their loans, but give the lenders the ability to recapture that loss if the home is sold for a gain later. The example in the article was that if a homeowner owes $100k on their home, but the home is now only worth $80k, they can reorganize their payment (or refinance their loan all together) based off of the $80k amount. However, much like a Negative Amortization, if the homeowner ever sells the home for a profit (up to $100k), the lender would have the ability to reclaim that $20k they walked from earlier. Now let’s think about this… if I owe $350k on my home, but it’s only worth $300k now, I could walk from the $50k difference all together. I would just sell my home for $300k, and go buy a different home at rock bottom prices. The lender would never have the opportunity to recapture their $50k loss. I’m sure the lenders are lining up to support this one.
I could go on and on about the stupidity of these plans, but it’s pointless. Most of them require the lenders to take a huge loss, and would ENCOURAGE non-distressed homeowners to take advantage of it, instead of help to ease the ‘foreclosure crisis’ going on right now. The more plans I see, the more I think the plans are made up by the media in order to spur more attention. It’s just ridiculous. You hear about this huge plan, but then it slowly disappears under the wraps of another huge plan. This is why I won’t be reporting on these things- just a waste of time. Until I see something officially getting voted on, I won’t worry about it. I suggest you follow the same thought process. And no, I’m not going to post a link to the articles on the 2 plans mentioned above- it’s not worth the click.
Sorry I’ve been out of touch here guys, just been slammed finding deals and building the business up. There’s some HUGE things right around the corner- but it’s not the right time to announce them yet. I’ll keep you guys posted.
I’ve been finding a ton of deals with REOs- many are fixer uppers, with enough equity to turn for a profit. Short sales are always slow, but, sometimes might yield something worth while. However, something interesting I’m seeing are deals in Austin, TX. I have a buddy who I am training down there, and the market is looking VERY good! In my next post, I’ll throw up numbers, charts, etc of the Austin, TX area. They haven’t had nearly the slow down that we’ve had here- and appreciation is going well to boot. Long term, they’re ranking pretty well for population and job growth. Stay tuned and I’ll get you more info.
I’ve also been working on some commercial deals- a couple land development properties, as well as a couple clients looking for properties themselves. The Commercial Market is hanging tough and going fairly strong- so anyone looking for commercial property, give me a shout and let’s get you in some good deals.
More to come… How about those Playoffs, huh? 
I’ve had some complaints that the site was hanging when using IE 6.0, and wouldn’t load properly. I have a feeling it was due to the Template I was using and JavaScript. Not to mention Internet Explorer sucks nowadays, and can’t hang with the web 2.0 very well. I’d suggest everyone upgrade to FireFox immediately. The browser is superfast loading pages, and the features knock any other browser out of the water. Once you try it side by side, you’ll see the difference. In the mean time, please be patient as I update the site.
Thanks!
If you’re looking for Pre-foreclosures, Foreclosures, REOs or deals of any kind, sign up for my Deal Alerts and you’ll be notified of any new deals that come through the REI Pipeline. These are perfect for keeping as long term rentals or fixer-uppers that you want to rehab and flip. I am currently tracking every foreclosure and REO in Maricopa County- You won’t find deals this good anywhere else! Or, if you’re rearing to go and looking for a deal NOW, I can go ’shopping’ for you and find the exact deal that fits your criteria. Just contact me and we’ll get going on finding the perfect investment property for you!
Let’s work together to make 2008 the best portfolio building year yet!
Here’s an interesting article from RealEstateJournal.com, titled "Investors Considering Retirement Opt for Property Investments". It talks about how more and more retirees are looking to Commercial Real Estate Investments to build up their nest egg, and have something to leave to their children. Here’s a quick excerpt.
For one thing, commercial real estate delivers regular income — whether from rent checks or dividends from a real-estate investment trust, or REIT. And the sector has traditionally kept pace with inflation and provided "sufficient risk-adjusted returns," says Grant Conness, a financial adviser at 1031 Alternatives Group, a division of Costa Financial Securities Inc. in Hollywood, Fla.
Indeed, while the residential housing market is struggling, commercial real estate is showing solid fundamentals in many markets — with occupancies high, increasing rent growth and supply under control.
On top of that, commercial real estate has gotten increasingly sophisticated and transparent as an investment vehicle in the past 20 years. In part, that’s because of the emergence of the market for REITs. These publicly traded companies invest in real estate and pay out 90% of their income as dividends to shareholders.
There are many ways to invest in commercial real estate. You can find a sponsor who will partner with you on the investment, and has a proven track record of profits. You can buy into a Real Estate Investment Trust, or a REIT. This is a publicly traded company that typically pays back 90% of their profits to the share holders. You can join a group of other investors who all go in on the same deals together. This can be a bit more complicated at times, but is proven to be a very successful technique. Or, you can always go it alone, if you have a firm grasp on what you’re doing.
Very shortly I will be expanding my services into Commercial Real Estate Investments, with a very large and proven firm here in town. While I don’t want to tip my hat just yet, you’ll see an announcement come through when the time is right and the paperwork finalized. Don’t worry, I’ll still be providing all the great residential short sales, pre-foreclosures, REOs and fixer-uppers as before. But now you’ll also have many great opportunities to invest in larger commercial projects as well. Stay tuned, and prepare your checkbook!
Hey guys- I saw this video a few years ago, and thought of it the other day. It’s a long one, 3.5 hours! However, it’s got some REALLY interesting information in there. Yes, there’s a little conspiracy theory, but look past that for the information it provides. For example, it talks about how the Federal Reserve is owned/backed by private individuals. Most people don’t know that. It gets a little more interesting at about 4 minutes, and then even better at about 10 minutes into it. After that, grab a popcorn and coke and watch the entire show. WOW. If you want to learn more, visit here. I have a few more videos that I need to finish watching, but I’ll post them as well. Again, look past the conspiracy theory and listen to the information provided. Very interesting, indeed. You Donald Trump wannabees will get a kick out of this.
