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Short Sales Excuses – and Why they are All Wrong

by Chris McLaughlin on February 5, 2009

Real Estate News & Commentary by Chris McLaughlin, February 5, 2009
http://www.shortsalesriches.com/welcome.html

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Sign up right now to ensure your reservation! The amazing Recession Proof Real Estate Investing webinar will be held this coming Saturday at 3 PM ET, NOON PST! There are only 30 slots left so jump on this now:

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CNBC reported today that the White House plans to announce next week that it is moving away from having the government buy up trillions of troubled assets and putting them into a bad bank, rather it is more interested providing insurance and guarantees of the troubled assets in a “ring fence” concept. The current plan will likely involve the remaining $350 billion of TARP money, and rumors of several trillion are now apparently not in the cards.

In economic news today, the US Department of Labor reported that adjusted initial jobless claims for a 4 week period were 626,000, an increase of 35,000 over the prior week’s revised figure. Most analysts had expected 585,000 new claims, so the 626,000 number surprise many. The number of jobless claims is now at a 26-year high. Ouch.

Now, on to our real estate investing section…

Short Sales Excuses – and Why they are All Wrong

If you have been sitting on the side-lines thinking about investing in short sales but haven’t yet taken the plunge then chances are you have a few of the following short sales excuses to blame. Learn how to overcome the fear of failure and instead focus on the path to profit by informing yourself why all the facts you think you know are actually wrong.

Excuse #1. You need a lot of extra time and money to get started.

Fact: It sure doesn’t hurt but one of the great things about short sales investing is the ability to begin with very little out of pocket funds. Unlike starting your own business that requires immense up-front capital as well as most of your free time, short sales investing uses leverage and can be started in your spare time.

Excuse #2. You need years of experience.

Fact: No, you don’t need years of experience…you only need to tap into the know-how of someone else who has been there and done it with a track record of success. Hmmmm, now where can you find that if not right here at the shortsalesriches.com strategy?

Excuse #3. You need to have a heart of stone to deal with foreclosures.

Fact: This has nothing to do with your level of empathy or not. Properly transacted, many homeowners benefit as much if not even more than the short sale investor; you are actually doing them a favor in many cases.

Excuse #4. It’s too late to begin investing in short sales.

Fact: There are still plenty of great homes to select from and in many areas, the inventory is still growing. Don’t assume the federal bail-out or other stop-gap solutions will work for everyone or even be desirable; many people will not qualify or simply want to walk away and start over. There are still plenty of great properties to be found for those who know where to look and how to make an offer. Are you aware that there were over 1 million jobs lost in the last 2 months? What will happen to all those homes?

Excuse #5. It’s still too early to begin investing in short sales.

Fact: Although there are still plenty of great homes at ultra-affordable prices with historically low interest rates, that situation could change at any time. Even if the price of homes continued to decline, any increase in interest rates or lending standards could negatively impact today’s favorable conditions. Buy while the buying is good to lock in favorable prices and rates.

See you at the top!

Chris McLaughlin

http://www.shortsalesriches.com/welcome.html

P.S.

This week’s webinar replay is right here…for the next 8 hours:

http://www.webinarwizards.com/custom/index.cfm?id=170879

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that want up-to-the-minute news, & how it impacts
us and our market…

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About the author:

Chris McLaughlin is widely known as America’s top
Real Estate Attorney and Investment Consultant.

    * As the top Florida foreclosure and pre-
      foreclosure expert, he oversees more than
      100 short sale & REO closings each month

   * Long-time authority on real estate investing
      and rapid flipping of distressed homes. Owns
      portfolio of nearly 100 high-value, high-profit
     properties

    * Owner and Supervising Broker of one of Florida’s
     largest Real Estate firms, running 4 different
     offices, supporting nearly 450 agents, uniquely
     positioning him to help thousands of investors
     make money in the biggest market opportunity ever!

     * Highly sought-after speaker, consultant, and
      seminar leader for current trends and hot topics
     in Real Estate Investing, Entrepreneurship, and
      Wealth Building

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The Fed Offers Some Comfort to Real Estate Investors

by Chris McLaughlin on January 28, 2009

Market News & Commentary by Chris McLaughlin, January 28, 2009
http://www.shortsalesriches.com/welcome.html

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It was an amazing night, and one that you didn’t want to miss. It was all about making what is the worst economic environment that best opportunity of your lifetime. We’ve got the replay available for the next 24 hours… go here now to watch it right now:

http://www.webinarwizards.com/custom/index.cfm?id=170879

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In real estate related market news today…

Financial stocks took a turn upward today after the Federal Reserve provided some comfort to those policy wonks that analyze every word they say. The Fed suggested that it would keep the federal funds rate low for “some time.” And the Fed offered some brighter news about the credit markets: “Conditions in some financial markets have improved, in part reflecting government efforts to provide liquidity and strengthen financial institutions; nevertheless, credit conditions for households and firms remain extremely tight,” the Fed said.

The Fed also suggested that it will be a purchaser of treasuries, which would bring down interest rates and hold them low for the time being, an effort that it aimed at stimulating demand for homes and also encouraging refinancing to reduce American’s debt burden and free up cash flow.

The stage coach hit a big ditch on its way to report earnings this week. Wells Fargo reported that it lost $2.83 billion last quarter, and took significant charges as it absorbs its purchase of Wachovia Corp. The bank had made $1.36 billion in the year ago period. The company was not immune to the Bernie Madoff scandal: it took a charge of $294 million for losses related to the multibillion dollar Ponzi scheme.

Now, on to our real estate investing section…

Five Fast Ways to Fund Your Short Sale Empire

Are you an Average Joe just hoping to hang on to your job and making ends meet despite the faltering economy? Have you convinced yourself there is nothing more you can do to better your position in life than just sit by and wait for the other shoe to drop until you join the long lines of unemployment? Fortunately, not only are you wrong but the fact is, you are living in unprecedented times.

For the first time in decades there is now an opportunity to purchase real estate at a fraction of the cost with the benefit of low interest rates. Before you dismiss the idea of building a short ale empire of your very own as something reserved only for those with oodles of extra cash just waiting in reserve take time to keep reading. We will outline five fast ways to fund your short sales empire this year…it’s all you need to get started with the ShortSalesRiches course…

Skip the New Big Screen for Super Bowl Sunday. Heck, you could be having so much more productive time that you skip the Super Bowl entirely; for less than the cost of upgrading to that extra large LCD or Plasma screen plus the price of beer and party trays you can afford to invest in an education that provides all the information you need to start buying and selling short sale foreclosures and discount real estate.
Buy a coffee-maker and kick the Starbucks habit. Yes, we know it’s convenient to fall out of bed and buy a sugar laden caffeine rich beverage on the way to work but that extra $5 per day is more than enough to pay for tools and training to start with short sales. If your spouse does the same you might save more than enough throughout the year for a solid down payment along the way!
Take a gourmet cooking class and eat in once a week. Not only will you save enough money to fund your short sales empire but it’s a great way to spend time with family and friends while eating better at the same time. Your waist-line and wallet will thank you!
Go to the library once a week. It’s good for your mind and makes a super cheap date. Okay, admittedly this might work better for those of you who are married with children but you can save serious cash by rediscovering your local library. If you haven’t visited for awhile, you will be pleasantly surprised to learn that in addition to books most libraries rent videos, music, games and even have special events like story-telling for the children. Now you can save on media and entertainment while investing your time and effort into something that provides a great rate of return.
Invest in yourself then pay it back with the profits. Sometimes it just takes a leap of faith; set your goals then give it a try. Pay yourself back with the profits from your first sale.

See you at the top!

Chris McLaughlin

http://www.shortsalesriches.com/welcome.html

It was an amazing night, and one that you didn’t want to miss. It was all about making what is the worst economic environment that best opportunity of your lifetime. We’ve got the replay available for the next 24 hours… go here now to watch it right now:

http://www.webinarwizards.com/custom/index.cfm?id=170879

http://www.shortsalesriches.com/blog
*************************************************

About the author:

Chris McLaughlin is widely known as America’s top
Real Estate Attorney and Investment Consultant.

    * As the top Florida foreclosure and pre-
      foreclosure expert, he oversees more than
      100 short sale & REO closings each month

   * Long-time authority on real estate investing
      and rapid flipping of distressed homes. Owns
      portfolio of nearly 100 high-value, high-profit
     properties

    * Owner and Supervising Broker of one of Florida’s
     largest Real Estate firms, running 5 different
     offices, supporting nearly 500 agents, uniquely
     positioning him to help thousands of investors
     make money in the biggest market opportunity ever!

     * Highly sought-after speaker, consultant, and
      seminar leader for current trends and hot topics
     in Real Estate Investing, Entrepreneurship, and
      Wealth Building

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Short Sales Excuses – and Why they are All Wrong

The Fed Offers Some Comfort to Real Estate Investors

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