While many are a jack of all trades and master of none, some of us have mastered “some.”  Consider that most companies right now are cross-training positions and employees carry the burden of two or three job titles (and all of the responsibilities that come with); how is real estate any different?  To grow successfully, you should expect to work more than one aspect of real estate. 

            Do you feel overwhelmed or spread t – h – i – n.  Does the thought of taking on one more job, task or responsibility just about push you over the edge?  Let me propose this, what if that one task or responsibility turned into an additional stream of income for you?  Do I have your attention now?  Real estate offers multiple streams of income which can be summarized by two leading categories:  Investor Income and Realtor Income.  You have the option of taking advantage of the former, the latter or BOTH.  Hmmmm…..can you see where I’m going with this?

            As the industry changes (and remember that change is the only constant in life), we have choices.  These choices range from one extreme to the other; you can quit real estate, put your head in the sand, hang on, adapt, embrace, grow and/or conquer.  Where are you right now on that scale?  And where do you want to be?  Becoming a Realtor may scare your socks right off; it may make you want to stop reading this article.  But why?  I offer you hope and brighter days with more choices to keep you continually growing and earning. 

            Following are the top 4 challenges I discuss when a Realtor joins my team:

1)  There’s too much to learn in order to become a Realtor! 

Don’t fear learning, knowledge is power.  Do you remember when you first became an investor; there was a ton to learn!  You forged your way through and now it’s time for the next step.  Don’t question IF you should learn something new, the real question is, “WHAT should I learn today?”  So, why not choose to expand the business you already have, versus starting from scratch in a totally different field of work?  Now that scares my socks off!  When you stop learning, you stop growing.  GROW!

2)  There are too many Realtor rules; I just like doing things my way. 

Bad things happen to good people!  Sound familiar?  With MARS disclosures, FDIC mandates, and IRS / ORRA audits, the education of becoming a Realtor will only arm you against negative repercussions.  Awareness and participation in these guidelines will protect you as LLC’s and Investors continue to get audited on deals from 3-4 years ago.  Put yourself in a smart position now.  The black and white separation between the Investor world and the Realtor world is no longer that boldly defined.  Much of the same rules are now applying to both.  Short sale lenders are requiring all homes to be listed, Realtors names must be printed on HUDs, customized addendums must be signed, and licenses are required to mitigate and get paid.  They are making it almost impossible to get paid if you are an Investor only.  Please hear me, I’m not saying Investor deals don’t exist, but as a Realtor your income options increase immensely per deal.  Do you want more CASH?

3)  There is just not enough time to be an Investor and a Realtor. 

Many Investors had to add a 2^nd job, why not become a Realtor as your 2^nd source of income and stay in your current field; you already know most of the stuff anyway!  Have faith in yourself and know that you can earn a nice commission of $4,500 by selling a $150,000 home to a friend.  How many hours would you have to work at your 2^nd J.O.B. (Just Over Broke) to earn that $4,500?  You don’t have to be the Realtor that drives clients around for showings every day.  You can just get your license in order to get paid on the HUD at closings for deals that don’t have any wiggle room.    How many of those $4,500 checks are needed to reimburse you for the time and cost of getting your Realtor license?  Not even one!

4)  I’ve tried the Realtor thing; it just didn’t work for me. 

Most likely it didn’t work because you didn’t have the right team, or the proper training and support; these factors will greatly influence your success.  If you are bringing in a lot of short sale deals and nobody in your office can mitigate, that’s a huge issue; especially when the larger percent of listings are short sales.  You also need an office with Experienced Leadership to mentor you.  Your office should have an in-house Mitigating Team to keep control over your deals.  And finally, your office should have a master Closer negotiating all liens (IRS, tax, water, HOA, etc), as liens are very often the bombs that blow up your deal.    

            I say all of this respectfully; just take a smart look at your plan.  How many income streams do you have as an Investor?  And how many more can you add as a licensed Realtor? 

Let’s talk!

Kimberlee Frank – www.SellFastRealtyLLC.com

407-888-3255

Kimberlee Frank

Welcome – Welcome – Welcome – Even if you speak spanish, we are able to help you.  Feel Free to contact us and we can answer all your questions.

Kimberlee Frank

We pride ourselves with helping the Seller first then the Bank, Realtor, Buyer and then YOU.  If you remember to always thinking about WIIFM for the Seller versus WIIF you THEN YOU WILL ALWAYS DO WELL.

Being in foreclosure is a though situation for all parties including family members. 

Kimberlee Frank

Here I will also be holding your hand through the step to step process of cashing BIG CHECKS!!! Ask yourself do you want to make 250,000 for 2009 or are you comfortable living with your pay check!!! This is the perfect oppurtunity for you to be your OWN BOSS!!!www.foreclosuresgonewild.com

We all had so much fun.  Kimberlee Frank and her Partners work on Dreams Boards with the goal of helping Sellers from going into foreclosure.  You need to have a system to be able to talk to the Seller, Negotiate with the Bank, Find a Buyer and close on the property all at the same time making sure that the Bank accepts a full settlement on a short sale.  Kimberlee Frank at ForeclosuresGoneWild.com has a 98% success rate of getting deficiency judgments waived against Sellers.  She teachs all of her students/partners to help the Seller first and then their success will follow.  She is looking to grow her team and has an event coming up May 1, 2 and 3rd.  Check out www.ForeclosuresGoneWild.com to learn more.

With the U.S. Economy entering a second year of recession, it is expected this week that the Federal Reserve is going to keep interest rates at all time lows for awhile and possibly for the rest of the year.  The Feds have been buying up piles of companies’ short-term debt which is referred to as commercial paper. They are making cash loans to banks so that banks will in loan money to consumers for homes, student loans, automobile and other items to stimulate the economy.  They also started buying mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae to help the housing market. Congress and our new President are working to enact a $825 billion economic stimulus package.

This is all good news for investors/ buyers who have been experiencing the effects of the credit crunch.  Also starting in February, there will be up to $200 billion available for auto, student and credit card loans as well small business loans.  In order to accomplish this, the Fed will buy securities backed by those particular types of consumer debt. With more money available, the Fed is hoping this will result in lower rates on those loans as well. 

Great Time for Buyers/Investors

If you have never invested in real estate before, here is your chance to get in while the interest rates are at all time lows, the prices are affordable and there is a large choice of properties to select.  If you have cash, even better.

Real Estate Leads to Long Term Wealth

Although we are in a down and declining real estate market Nationwide, the Florida real estate market is near bottom and therefore it’s a good time to buy Florida properties.  Real estate is one of best investments which lead to your long term wealth.  I teach you to purchase real estate with no money and resell it making a profit of $20,000 to $30,000.   Real estate appreciates if you hold on to it long enough and you can generate a steady monthly cash flow from investment property at the same time.

Mentoring and Coaching

What if I told you that you could retire in 2 years by following my real estate strategies, wouldn’t you want to know how and have a burning desire to get started right away?  

Well I am going to tell you how to do this.  If you are a first time buyer, then you may want to work with a mentor or coach to get started and to help you avoid making costly mistakes.  I teach my students my proven real estate investment strategies based upon changes in today’s real estate market. Having a support system and mentor that will help you achieve your real estate goals and dreams is the best way for you to become a successful real estate investor. 

I am looking for individuals to work within my office as a realtor, investor or partner to take their business to the next level.  I presently have 50 plus homes for sale that have short sales completed looking for Realtors to help sell the properties.

Smart Investors

Successful investors adapt to the market and change their investment strategies accordingly. Smart investors have been focusing on bank owned REO’s and short sale properties as well as purchasing foreclosure properties at auctions at rock bottom discount prices. The Florida market has many opportunities to offer investors/buyers right now, and you should take advantage of the many discounted properties, a number of which are luxury and vacation properties.  I recommend for new investors not to buy a fixer right now unless you are able to do the work yourself because there are so many updated and remodeled properties as well as new homes that are currently available at distressed prices, why go through the headaches of dealing with contractors and sub-contractors and cost overruns and delays? These are some of the strategies my students are focusing on right now that are giving them the results they are looking for.   

For more information on investment opportunities in Florida, please contact me at www.RealEstateJunkie.com, and send me an email to schedule an appointment.  For more information on my seminars and coaching programs, you can also visit my website at www.RealEstateJunkie.com.

Today’s Real Estate News

A few items that I wanted to talk about. The first is the latest pending home sales index for November 2008 released by the National Association of Realtors (NAR), which is a good indicator of what to expect in the housing market in the next couple months.  Next, the fact that mortgages rates are at near 50 year lows.  With such low rates, investors should be taking advantage and buying property now.  The third item is pending legislation that would affect the bankruptcy code and consumer mortgages.  Lenders and industry experts are debating whether the legislation would be beneficial or not right now.

NAR PENDING HOME SALES NOVEMBER 2008

According to the National Association of Realtors, the national pending home sales index (“PHSI”) report for home sales under contract in November 2008 fell 4.0 percent to 82.3 from a downwardly revised reading of 85.7 in October 2008, and is 5.3 percent below November 2007 pending contracts which were 86.9.  Regionally, in the Northeast, the PHSI dropped 7.2 percent to 63.2 in November and is 14.6 percent below a year ago. In the Midwest the index fell 6.7 percent to 74.2 and is 10.1 percent below November 2007. In the South, the index declined 2.2 percent to 85.3 in November and is 12.7 percent below a year ago. In the West, the index was down 2.4 percent to 101.2, but the good news is it remains 19.3 percent higher than November 2007.  The NAR reported that the current index is the lowest since the series began in 2001. Much of this is as a result of the economy and job losses as well as the record number of foreclosures and short sales. The index is usually a good measure of what is going on in the real estate market as pending home sales typically close 30 -60 days after signing. 

Lawrence Yun, the NAR’s chief economist said “…December’s housing market activity could be comparably lower due to ongoing problems in the economy, so a real estate-focused stimulus plan is urgently needed.” … With a proper real-estate focused stimulus measure, home sales could rise more than expected, by more than 10 percent to 5.5 million in 2009, and easily begin to stabilize home prices in many parts of the country. Stable home prices will, in turn, lessen foreclosure pressures and lay the foundations for a solid economic recovery as the nation’s 75 million homeowners regain confidence….”  December’s number will be released on January 26, 2009. 

In my opinion, many of those sales have been falling out of escrow because they were not qualified and serious buyers to begin with.  The short sale process is frustrating to the average buyer because lenders are taking too long to approve them, and the buyers decide to walk away so as a result many homes under contract in short sales are not closing. The other reason is the lenders are not approving the short sale offers and some are counter offering at high prices that are way above market.   The average buyer does not know how to negotiate the right way with the lender and even if they have a realtor, unless the realtor specializes in short sales, they are at a disadvantage also. 

Investors on the other hand are taking advantage of the discounted prices and are buying pre-foreclosure and short sale properties because there are so many good investment opportunities right now, especially in Florida.  Since I have been negotiating real estate deals for a very long time, I have been able to pass on my negotiating talents to students that I coach and mentor.  If you follow my simple short sale and pre-foreclosure negotiating techniques, you will be able to negotiate the deal you want with any lender.   

The NAR and other real estate industry experts have voiced their opinions that the government needs to pass some legislation that would speed up the short sale process helping to move some of the inventory and preventing more foreclosures and home sale declines.  I agree that something needs to be done soon.  I wouldn’t be surprised if we see some legislation on the horizon soon with new guidelines.  Currently, it takes approximately 60 days to get an answer from the lender, and many times the lenders don’t approve the short sale offer, which delays it even further by having to make counter offers or the buyers just walk away and finding another deal leaving the distressed homeowner at square one.

An important negotiating tactic to keep in mind when you are negotiating with a distressed homeowner  in a short sale is to tell them that you will close on the deal, and you are willing to wait for their lender’s approval.  Since you already did your due diligence before you made your offer, and you have decided that the property is the right investment for you, there is no reason for you to back out of the deal if the numbers make sense.  However, sometimes they don’t and you have to know when to walk away.  That’s what makes a successful investor- being able to recognize a good deal and passing on the bad ones.  You don’t want to make a mistake that will cost you money for years ahead. I teach my students how to avoid costly mistakes and benefit from my years of investing experiences.            

Mortgage Rates at Near 50 Year Lows

With near 50 year lows in mortgage rates, now is the best time for buyers/investors to take advantage of the many opportunities out there to purchase discounted properties.  Yes credit is tight, but with the government’ stimulus packages and recent legislation passed and pending, it should not be a problem for savvy investors to find financing.  If you have cash, all the better.

Changes in Bankruptcy that Will Affect Homeowners

The other item that I thought was worth mentioning is the current legislation that the government is working with on together with the Bankruptcy Coalition of the Financial Services Roundtable, a group comprised of Citigroup, JP Morgan Chase, Well Fargo, Bank of America and other leading banks and lenders which would allow bankruptcy judges to adjust mortgages for at-risk borrowers.  Although Citigroup initially opposed the plan, they have agreed to supports measure to help homeowners stay in their homes.  There are a few other proposed rules and guideless as well for homeowners.  Only existing mortgages will be eligible; homeowners will have to certify they tried to contact their mortgage holder lenders regarding loan modifications before filing for bankruptcy; and only major violations of the Truth in Lending Act will cause lenders to forfeit their claims in a bankruptcy.   Those who support the legislation believe this will streamline some of the complicated bankruptcy rules and help homeowners. 

If you live in Florida or other homestead states, and you have filed a homestead on your primary residence, the homestead laws protect your primary home from being foreclosed upon in most circumstances anyway.  For more information on the bankruptcy laws, you should consult a bankruptcy attorney.

Opponents of the legislation include The American Bankers Association who have expressed their opinion that the proposal to give bankruptcy judges broader authority to modify mortgage terms could end up making home loans more expensive and less available.  

In 2008, there were an estimated 1 million personal bankruptcy filings. Out of those approximately 580,000 had mortgage debt, and there are approximately 50 million residential mortgages currently outstanding in the U.S., which  total more than $10 trillion of debt according to consumer research firm SMR Research Corp.

As you can see the numbers are staggering. With so many homeowners being displaced and having to either sell their homes or losing their homes, there is a huge need for rental properties.  You as the investor can help fill that need by buying discounted properties and renting them or leasing them with an option to purchase. This is especially a smart investment strategy right now in areas like Florida, which have been hard hit by declining home prices and the economy. 

Other industry sources say that the legislation will most likely affect mortgages that are packaged into bonds, which are about half of all outstanding home loans. Mortgages that are already held on bank balance sheets will most likely be renegotiated prior to bankruptcy according to industry sources.

The legislation is still to be debated so stay tuned.

The National Association of Realtors just released their latest report on December 2008 home sales, and there is good news.  Home sales rose 7% in December 2008 compared to November 2008.  Inventory dropped 11.7% to 9.3% months of supply at the current sales pace.

Reasons Behind the Increase In Sales

Investment opportunities in Florida, California, Nevada and Arizona and other speculative markets can be attributed to the increase in home sales because prices in those areas have been declining for awhile and unemployment is rising.  Lower interest rates and affordable homes are driving buyers and investors to the market place at the moment especially in these areas.  The National Association of Realtors reported that the national median existing home price in December 2008 was $175,000, a whopping 15.3% lower than December 2007.

REO’s, short sales, and foreclosures are major factors in the increase in sales and the drop in inventory making affordability once more a reality for today’s home first time home buyers.  Take for instance the Las Vegas market.  According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index about 60.6% of homes for sale in the Las Vegas metro area as of the third quarter 2008 were affordable for median income wage earners.  In 2007, only 18% of homes for sale were affordable.

Affordability to Continue

In my opinion we can expect to see the affordability continue the first and second quarter of 2009.  That’s why now is the best time ever for buyers/investors to buy Florida properties. So what’s the best way to do this if you have never bought real estate before?  The answer is simply. By working with an experienced and knowledgeable real estate coach or mentor.  Right now, I am working with a select group of new investors who want to take advantage of the opportunities that are available in the market, but are not sure how to start.  I am looking for a team of individuals who want to change their life forever.

Real Estate Junkie Systems

Interest rates are expected to remain at all time lows for quite awhile so there is no excuse not to invest in real estate now.    The Real Estate Junkie’s proven systems will teach you everything necessary to become a financially successful investor in the shortest period of time.  Real estate investing is a business.  The Real Estate Junkie System will also teach you how to set up your business, your business plan and business model, accounting systems, select a management company and team of contractors and how to do foreclosure short sales.

There are hundreds of gurus and systems out there but knowing what is the truth and what is a lot of puff and hype is the key.  It took me years and a lot of wasted time and money to figure out what was the truth about real estate investing- what works and what does not. That’s why I decided to share my knowledge and information with others by coaching and mentoring students that wanted to learn about the right way to invest in real estate. So what are you waiting for? Let’s get started!  

For more information about my courses and other seminars, please contact me at my website at http://www.realestatejunkie.com.

With the new year, comes new real estate investment opportunities and strategies to starting implementing and exploring.  Now is a perfect time to re-evaluate your current investment situation and make positive changes that will affect your long term investment portfolio.  Whether or not you got caught up in the mortgage meltdown, the foreclosure crisis, credit crunches of 2007-2008 or the Wall Street financial crisis, it’s a good time to make changes and seek new investment opportunities.  Or if you are a new investor, it’s a great time to start investing.

Why Working With a Mentor or Coach is Beneficial

Before you make any investment decisions these days, it is important to educate yourself and learn as much as you can about how to make the best choices for your financial situation. I have found over the years that one of the best ways to do this is to work with an experienced mentor or coach. 

Yes, it’s a buyer’s market right now and you might be wondering why do I need to work with a coach? One of the reasons is that if you don’t know the basics of real estate investment and what not to do, your mistakes can cost you for years down the road.   I coach my students on a one to one basis so that they can learn my proven systems, obtain their financial goals and dreams and avoid making those costly mistakes. 

2009 Real Estate Outlook    

HousingPredictor.com, an online real estate research firm located in Destin, Florida predicts that housing prices nationwide will fall 12.5% in 2009, compared with an estimated 11.1% in 2008.  This means more investment opportunities for real estate investors. 

Now is a Good Time to Invest in the Florida Real Estate Market

Whether you are an experienced investor or a new investor, now is a good time to invest in Florida real estate. Areas such as Florida, California, Arizona and Nevada have already seen substantial home-price declines since 2007, as much as up to 30% in fact.  The majority of the foreclosures were as a result of the sub-prime mortgage mess, which has created a record number of foreclosures and short sales.  Also, the state of the economy and the high unemployment rate, have contributed to the foreclosure rate as well.

However, the current real estate market condition in Florida has created a climate for some of the best investment opportunities.  Low interest rates, rock bottom prices, and a large source of inventory are all perfect real estate conditions for buyer/investors considering investing in Florida real estate.

Florida real estate markets such as Naples, Orlando and Tampa have seen some slowing down in declining prices, and many investors have already taken advantages of these at or near rock bottom prices. Miami prices are still continuing to fall.  In fact, Florida was number one in foreclosures at the end of the third quarter 2008, with Nevada leading in second place.  

Industry experts are predicting a new wave of foreclosures hitting this year, which could be triggered by the Alt-A and option adjustable rate mortgages given to borrowers with good credit starting to readjust. 

Option ARMs allowed borrowers to make minimum payments that don’t even cover the accrued interest. The majority of these loans were made in Florida, California and Las Vegas. Real estate financial experts are expecting about 45% -50% of the option arm loans made in 2006 to default.  The 2007 option ARMs, which were originated right at the time home prices started declining are also expected to perform badly.

It appears that foreclosures are going to continue to influence 2009 real estate prices and the market for awhile that is one of the reasons I relocated to Florida.

What You Need to Know About Today’s Investment Strategies

With the opportunity to purchase affordable real estate throughout the country, including luxury real estate, real estate investors have realized that now is the time to seize the moment and buy.  Whether you are a new investor or a seasoned one, buying with a long term investment strategy in mind is a smart investment choice. However, there are some other strategies I want to discuss as well.

Many of my students are also having great success with the rent to own real estate investment strategy.  With the rent to own program, my students purchase a discounted property using my Real Estate Junkie strategy. The property is then offered to a tenant for lease with an option to buy.  My student gets a large upfront deposit which is nonrefundable if the tenant/buyer does not purchase the home.  The tenant’s a small portion of the monthly rent is applied as a credit towards the purchase of the home. 

Also, a number of my savvy students are following my advice and making their tenant/buyers responsible for the all maintenance due on the property after the first $100.00 of repairs each month.   This strategy works well for you as the investor/owner because it reduces your property maintenance and upkeep costs. The tenant/buyer has more of a vested interest in the property because they are spending money to maintain the property. Since they are making a financial investment in the property, they are less likely to decide that they don’t want to buy the property.     

With so much uncertainty in the job sector and the economy, you can no longer afford to rely on your job for your sole source of income.  Now is the time to make changes that will have lasting long term affects on your financial independence. 

This is Kimberlee Frank the Real Estate Junkie wishing you a Happy New Year.  Please visit my website at  www.RealEstateJunkie.com.