Training

Before you get started in the real estate industry, you have to analyze your own mindset to see if you have what it takes to be an real estate entrepreneur from conception to fully-functional successful operation. It’s just not enough to say, “I want to make a lot of money, I want to be my own boss, I want to take a vacation EVERY month, or I want to live a life without limits!”

Everyone wants those things, BUT not everyone can achieve them… It takes a special person. You don’t have to be a workaholic or be willing to engage in questionable tactics. You just need to have a few characteristics that are common to most successful entrepreneurs.

This industry requires deep commitment. If you’re the type to change jobs with your moods, then stick to a 9-5 gig buddy, because this ain’t for you! You’re building a business and it takes time, effort, and tweaking to make it work, PERIOD!

Perseverance and a positive mental attitude can make or break an entrepreneur. You’re going to have down times, every marketer does. Something is sure to go wrong – whether it’s a freelancer who didn’t deliver on time and threw off your launch date or a JV partnership that fell through, and if you panic and shut down, you’re sure to be headed down a road of shortcomings, and inevitably failure.

Some of the greatest real estate professionals I know don’t fly by the seat of their pants. They have a plan! We tell our students quite often that “A goal without a plan is a wish!” In turn, they become meticulous planners… They make schedules and plans for their day, week, month, year, and even further down the road. Find out how at http://Mr3Days.com

They plan every step of a flip (acquisitions, mitigation, marketing, funding, exit strategy, etc) before the deal even kicks off! They plan every single detail they can think of. The more meticulous you are with your plans, the fewer hurdles you will deal with, and avoid all the potential things that might go wrong.

To become an authority in your niche, you need to exude confidence. Even if you’re worried, anxious, or unsure of yourself, what you project must be that you have it all together – you can’t be paralyzed by fear! We can promise you one thing, NOBODY will believe in you if YOU don’t first!

Are you willing to be a student for life? No successful real estate entrepreneur gets to the top and stops learning this industry. That only means you’ll eventually become the prey of a hungrier Investor who’s stayed on the ball with up-to-the-minute solutions and practices in your niche so that they can become king of the mountain when you let your guard down.

You have to know how to get from point A to point B on your journey to achieving financial independence. Do you know what you’ll say when your in-laws or spouse questions your “career?” If you’re a fearless marketer, the inquisition won’t bother you a bit.

If you aren’t sure how to develop a blueprint for your success, don’t know how to set and achieve goals, or have a mindset that’s not in sync with that of victory, then work with folks like us who have the gameplan all laid out for you! You need to be mentally prepared for the ups and downs along the way.

Find out how at http://Mr3Days.com

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“Anti-flipping rules”

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Here is some great info regard the FHA “Anti-flipping rules”… It is a MUST READ:

“In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Federal Housing Administration (FHA) Commissioner David H. Stevens today extended FHA’s temporary waiver of the agency’s ‘anti-flipping rule.’ The extension announced today is intended to accelerate the resale of foreclosed upon homes in neighborhoods struggling to overcome possible property abandonment and blight.
With certain exceptions, FHA regulations prohibit insuring a mortgage on a home owned by the seller for less than 90 days. Early last year, FHA temporarily waived this regulation through January 31, 2011. FHA today posted a notice extending this waiver through the remainder of 2011. This action will permit buyers to continue to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties, or properties resold through private sales. It will allow homes to resell as quickly as possible, helping to stabilize real estate prices and to revitalize neighborhoods and communities.

“As I noted when we first announced this policy change early last year, because of the tightened credit market, FHA-insured mortgage financing is often the only means of financing available to potential homebuyers,” said Stevens. “Today I can report that this policy change has been effective. Since the original waiver went into effect on last February, FHA has insured more than 21,000 mortgages worth over $3.6 billion on properties resold within 90 days of acquisition.”
FHA research finds that in today’s market, acquiring, rehabilitating and reselling these properties to prospective homeowners often takes less than 90 days. Prohibiting the use of FHA mortgage insurance for a subsequent resale within 90 days of acquisition adversely impacts the willingness of sellers to allow contracts from potential FHA buyers because they must consider holding costs and the risk of vandalism associated with allowing a property to sit vacant over a 90-day period of time.
Stevens added, “Because of past restrictions, FHA borrowers have often been shut out from buying affordable properties. This action enables our borrowers, especially first-time buyers, to take advantage of this opportunity and buy a home that has recently been rehabilitated. It will also help to move more foreclosed properties off the market and reduce the number of vacant homes in neighborhoods throughout this country.”

The extension announced today is effective through December 31, 2011, unless otherwise extended or withdrawn by FHA. All other terms of the waiver will remain the same, and HUD continues to invite public comment on it. The waiver contains strict conditions and guidelines to assure that predatory practices are not allowed.

To protect FHA borrowers against predatory practices of “flipping” where properties are quickly resold at inflated prices to unsuspecting borrowers, this waiver continues to be limited to those sales meeting the following general conditions:

• All transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction.
• In cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the waiver will only apply if the lender meets specific conditions.
• The waiver is limited to forward mortgages, and does not apply to the Home Equity Conversion Mortgage (HECM) for purchase program.”

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Your Network = Your Net Worth

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Whats up everybody! as usual I hope this message finds you all in the best of health, wealth, and extreme happiness! The message today is SIMPLE so listen up!!

>>>Your Network = Your Net Worth<<<

Here’s the deal everybody… The playing field has been drastically leveled recently with the explosion of social media, social networking, mastermind meetings, meet up groups, and networking events. If you are not taking advantage of these things, then YOU ARE MISSING THE BOAT!

In the past, It was all about WHAT you know, but now its ALL about WHO you know. Ask around to the people who are most successful in any niche of business and they will tell you the same thing, their greatest asset is their network.

It doesn’t matter if you need money to start a business, customers to sell products to, the best independent contractor to use, great minds to bounce ideas off of, or just eyes/ears/mouths to build your brand. You can do ALL OF THESE THINGS if you have a solid network. Trust me, I know personally!!

In the matter of 2 years, I was able to move into a niche of business in which I had NO experience, NO knowledge, NO contacts, NO money, and NO clue what so ever, and created 3 successful businesses which are active in over 20 states, and I can HONESTLY credit my ability to network as the primary reason.

What can you do? You can take advantage of all that is sitting right in front of you (which is usually free to use as well) and start to build you network by being the first one to “break the ice.” Go out and meet people NOW, and stop waiting for them to find you. By the Way–> If you haven’t maxed out at least one Facebook account with 5000 friends yet, start there!

Have an amazing week, and remember, “Wealth is the ability to experience life”

~Kris D. aka Mr. 3 Days
http://www.Mr3Days.com

Categories : Training
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The FDIC strikes back, issuing a Press Release claiming the video contains “blatantly false claims”,  “perpetrates other falsehoods”  and has “no credibility.” Click here to Watch it Now.

This will REALLY get YOUR Blood Boiling!

Categories : Training
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Hey everybody, I have had a ton of people asking me “Kris, why aren’t my short sales working?” and I have to break down what they are doing wrong, etc… The reality of it is that almost EVERYONE is doing the same thing.

THEY ARE NOT DOING THE BPO RIGHT!!!

Here are a few things that I do on my personal deals that seems to work quite well for me:

-I have my Realtor drop the listing price to around the value I am trying to get on the property, and print out a tangible copy of the listing to have right on top. This almost tells the BPO agent subconsciously what the home is worth. Additionally, I have about a half dozen comps, and my prop is the second to highest.

-I have my assistant (you can do this on your own) put together a REO sheet which will show all the local REO’s in the area (which are great comps) and also will help the value decrease if the BPO agent can see what WILL HAPPEN if the bank takes it back.

-I will have a detailed repair sheet with an estimate of all cosmetic and structural repairs. This is typically not a BPO agents forte, so how can they argue with you?

-I also will add into the BPO package the local crime rate (look for recent events that will have a wow factor) and a list of sexual predators (I know, I know, but it is reality) in the immediate area. This actually works well with most agents because the outcome is astounding, and they can understand that these results could prevent the homeowner from getting a lot of offers!

-I include 2 other items as well- a copy of the hardship letter from the homeowner so that the BPO agent realizes the harshness of the situation, and TWO contracts! The higher offer is ours, and the lower is a “back up.” This way it would seem as if our offer is the highest and best.

Categories : Training
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Hey everybody, I wanted to hit the blog for a second and let everyone know whats happening with our buddy Preston today… If you didn’t check it out last week about the business blueprint, then you have to get on the ball here: http://RedPill.TurnKeyWholesaleBiz.com and at least check out the first training session.

Wholesaling should be a big part your business plan, because with a system like this it is on AUTO PILOT!  If you intend on following through with your new years resolution of making 2010 be the sickest year EVER, then you can’t pass up the opportunity to see what is on the horizon!

Check out http://RedPill.TurnKeyWholesaleBiz.com right now!

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The Obama Administration officially released the full details of its plan to encourage Short Sales. Basically it gives your seller $1,500 to cover moving  expenses. (The banks get $1,000 for each Short Sale they approve.)

To read the the Wall Street Journal’s article, click here.

I would also recommend you take a look at the Treasury Department’s full outline of the program’s guidelines. (Click here to download the PDF) as it’s pretty simple to follow and there’s a lot of good stuff there for Short

Sale investors to know.

One key point is that the Treasury’s guidelines state that the program officially starts in April 2010 but that the banks can start implementing the program right away if they choose!

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If you would like to see how you can be successful in the short sale business too, click here: Success Is Just A Click Away!

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If you would like to learn how to lock down short sales like a pro, go to Mr3Days Coaching Program, and see the deatails. While you are there check out some of our other rockstar students all over the country!

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Everyone has been asking…. Who is getting the end loans to the “C” buyers done with no hassles and no vesting requirements?

1) Rena Lindstrom, Riverside Community Bank 815-654-8039
RLindstrom@riversidecommunity.com
*National coverage based in Illinois
2) John Bennett, Home Lending Specialsts 949-400-4500 Direct
714-832-1078 Office, sheree@hlscorp.com
**California Properties Only at this time

The above lenders are very busy, so please send your clients to them directly. If you need to speak with them, please understand their time constraints and make it brief. If you have any Lenders that you’d like us to add to our list, please let us know!

Categories : Training
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