Where Am I Today

One of the many jobs I have fulfilled in real estate is with the Ohio Real Estate Investors Association. I have put 50-60 vendors in their annual Conference and Expo for the last approximately 10 years as the Vendor Chair for OREIA. It's always been a good show, vendors and speakers.

I've been the President of the organization for 3 years as well. I got the OREIA PAC and Legislative Committee finally approved by the board so we as real estate investors could actually fight bad legislation in the State of Ohio. The PAC has been very successful at stop bad legislation and saving investor tens of thousands of dollars in tax dollars that legislators wanted to charge investors. Ya!

I am up here this week end again for the 2007 Convention and Expo. It promises lots of Great speakers, Peter Conti, and more with how to make it big in real estate right now. I believe short sales is the way, but you know there are many ways to make money in any economy, no matter how many banks are going out of business. You just have to be flexible and open to new ideas.

I'm still working on my short sales and more of them! On the drive from Cincinnati to Columbus yesterday, I stopped in a little berg at their court house to try to get delinquent taxes reduced on a burn out property that the taxes are more than I want to pay for the house. It's a burn out with tear down orders. The bank wan'ts 9-12K NET and the taxes themselves are $10K. The first 2 people I talked to all stated the foreclosure laws and that the taxes get paid first, they must get their money for the schools, hospitals ya ya ya. Don't you understand that you won't get anything if the 6-family gets town down and no one buys it? It's policy.

So I went to see the Proscuter. Don't ask me why. If that person was reasonable, I didn't care. And I changed my beginning point. "I want to pass all the burecuraty" I understand the foreclosure laws. I understand how and when the taxes get paid. However, If we don't buy it and it gets torn down, and the bank stops the foreclosure, and the owner can't pay the taxes you get nothing. Not even the 1/2 I am offering. Can't we go around the buracuracy (not law) and do something different that will still benefit both of us?

It is all in the words you use. The building is 6 blocks from the Prosecuor's office. She will be driving by and checking it out. For the first stage and the first definite "nos", I'm excited this actually might go somewhere.

For more unique negotiating ideas and tips you must have the home study course brought to you by the Short Sale Queen. We still buy and work short sales and fit in the miscellaneous events in our spare time.

Deb

More Bank Closings Can it effect Preforeclosure Short Sales?

Wow, did you hear that US Bank laid off 3000 people in their investment banking division today? The banking situation keeps getting worse. Is this good or bad for preforeclosure short sale buyers and sellers?

That's not necessarily bad news. That means they will have to hire somebody else to fill some of those jobs and there's more short sales out there to buy.

There are people out there with money and you can be one of them. Buying at deep discounts in todays' market is the way to go. And rest assured, the banks that are left will be selling off properties by the end of the year.

If you've got short sale deals with banks and are waiting and waiting for them to get back to you with an answer, be prepared because I predict as we get closer to the end of year the banks will have a lot of deals that they want closed by Dec. 31st!

Be lining up your private lenders and have lots of cash on hand. You'll have a lot of houses to get closed by the end of the year and speed makes for better discounts!

Deb

Still Testing the System

The more you use something the better you get at it. So here I am again, using the blog so I can cement it in my mind and not forget how to be successful with it. You remember, feel the fear and do it anyway.

I wanted to talk more about my new website. You have to check out the really neat things we added in to help you better understand the short sale process so you can close more deals and deposit the short sale profits you deserve.

There are free short sale reports throughout the site. Just log it and the report should automagically appear in your email. Free foreclosure reports, inspection reports and a whole lot more to increase your short sale success.

I'll be continuing the short sale coaching program
the Short Sale Queen Coaching Products where there is a call a month to get your questions answered about your individual deals. There are case studies on the website so you can follow deals from beginning to end.

There's even a short sale packet on the website to show you the strategies and techniques to show the loss mitigators why your offer is a great offer in this ever reducing property value market!

A special secret upcoming feature is a Loss Mitigator corner. I found that I have a loss mitigator in the family. Can you believe that? I've yet to convince him to answer questions here, but I am a pretty good negotiator. So keep your eyes here!

That's all for now. I'll be back soon so I can perfect this Blog and not lose my new skill!

Deb McMillan

Comments of Blogs

With a few small changes and updates and technological frustrations, I think I can work the blog. Whew WOO! My goal is to give updates and tips and tell some stories on how to fight the loss mitigators at these banks and win. My goal is to do this a couple times a week and you know how goals are.

Once you put it out there for people to see, you've pretty much made a commitment to keep it up. That's what I've done. Let me give my first situation.

I'm working on a house now that has a "blanket mortgage". A blanket mortgage is one that blankets or covers more than one property. So in a short sale situation, this means when you make an offer for one house, you are really buying them all. In this case 2 houses.

We're offering $6,000, yes for 2 houses. The bank says they need $9-12K Net however. We were just about ready to give them $9K net but discovered there is a $10K delinquent tax bill on the houses. That better than doubles the price. So now my new job is to get to the court house and attempt to negotiate the tax bill down.

I've tried this before but it was over the phone. No eye contact, I'm not even sure if the person I was talking to could have said yes. This time I will find somebody in an office, not a cubicle. I figure somebody sitting in a private office will have the authority to say yes, if it's possible. It is a 6 family and the county is ready to tear it down if the building orders don't start getting repaired soon. A six family, owes $10K in taxes, homeowner in foreclosure, ready to be torn down. If I only pay 1/2 of the taxes owed, do you think that will be more than if I don't buy it and it does get torn down? I think I just might have a chance to get those taxes reduced.

Like I say over and over in my live short sale training program, my short sale boot camp and every time I get a chance in my short sale coaching, you have to ask! And you can learn even more about that here All the Short Sale Queen Training Products.

If I don't ask, the county will absolutely expect me to pay the property taxes in full. And if I have to pay the taxes in full, the deal probably won't get closed. Stay tuned and if you have similar experience or comments, leave them here too.

Buy for now. We'll see if I remember all this technology by the next time I log on! Here's to the next session of Technology Not a Challenge with the Short Sale Queen!

New Website for Short Sale Queen and Preforeclosure Short Sales

Preforeclosure short sale info is now just better! I've been working for months, or at least my new webmaster has, to get up my new website. I am technically challenged and I do commit to get over it. And you should too. Get over everything that is hard. Feel the Fear and Do it Anyway!

So here I am learning Blogs to tell you about my next short sale training class. You can check out the short sale training testimonials from the last boot camp I had in August 07. Lots of content to get you the Short Sale Profits you deserve! It's simple, it's easy and it's fun if not a little frustrating at times.

Mark the new date, March 7, 8 & 9th, 2008 on your calendar and be at the Holiday Inn at the Greater Dayton airport for the most complete short sale training and boot camp available!
Register now!

If you can't make those dates, check out All the Short Sale Queen Training Products for my entire list of short sale home study courses and training products.

That's all for now. Let's see if this Blog thing will work for me the first time!

Deb McMillan