Tampa Real Estate Investors Alliance Blog

The Profit October 2015 Edition

Posted on October 22, 2015 by
The Profit Newsletter for Tampa REIA October 2015
Download the October 2015 Edition of The Profit Newsletter Now!

The Profit - October 2015 - High Quality PDFThe October 2015 edition of The Profit Newsletter is now available for download as a High Quality PDF (print quality) or Low Res PDF for mobile devices. The Profit Newsletter is the official newsletter of the Tampa Real Estate Investors Alliance and is a digital, interactive newsletter for serious real estate investors delivered as an Adobe PDF file to read on your computer, tablet, or smart phone with a PDF reader. Many of the articles and ads in The Profit contain hyperlinks you can click to get more information online. The high res version of The Profit is “print ready”while the low res version may load faster on your mobile device. Also, be sure to Subscribe to The Profit so you don’t miss a single monthly issue.

Download Now!
High Quality PDF / Low Res PDF
See The Profit Archives for our past editions.

Tom DiAgostinoYou want success, right? That’s essentially the purpose of any kind of training. However, It doesn’t matter how much “how to” you absorb, it will not cause the result you want – which is the achievement of a specific goal or milestone. How much action are you putting behind what you learn?

The only difference between the few successful people and most other people out there is the amount of TV you watch.

I know that sounds funny, but it’s true.

9 out of 10 people WASTE the most valuable asset they have, which is time. You can’t ever get it back, and the minutes you’re taking to read this is an investment in your future. Time spent watching worthless TV is robbing you of your life.

Part of this mental preparation is understanding the principal that you can’t always give in to mental candy, which is what TV and music are. I have to take away your donuts, i.e. the mental candy of TV and frivolous music or you can’t achieve anything.

Does that mean zero candy? No, of course not, we all enjoy some serenity. I just watched the Fringe series. It was good, but it was also the ONLY show I watched.

I need you to limit yourself and understand that any hour not spent on activities toward your goals is only slowing you down. And the people that control the amount of mental candy they absorb are successful. This is a truth you must accept. Your fate hangs on this.

If you’re not successful, guess what? You either made mistakes taking the wrong actions, or you aren’t taking actions at all, which is harder to fix, sometimes impossible to fix. Can’t make the horse drink right? Read More→

When stock markets are volatile, investors (rightly) get nervous. After all, many people have most of their wealth in the stock market. If the stock market goes down, then they see their wealth shrinking…and for people close to retirement, this is a scary prospect indeed. But it doesn’t have to be this way. With Real Estate IRAs, many people learn that retirement income doesn’t have to depend on the quality of the Dow Jones Industrial Average. Instead, retirement income can depend on your strength as an investor, and the wisdom it takes to know what true diversification really is.

And just what is that “diversification” we’re talking about? Some people will tell you that investing with diversification means having the right mix of stocks and bonds, of having stocks split up into small cap, medium cap, and large cap equities. But all that really means is that you’re invested in two different investment categories, all the while ignoring all of the very real possibilities for retirement income that are out there.

If you’re sick of feeling nervous every time that stock ticker heads into the red, then it’s time to broaden your horizons as a wise retirement investor and look into what diversification really means. Read More→

How Big Can You Go? Ask Your Sponsor

Posted on October 22, 2015 by

“What size property is right for me to start with?” This is a question I get asked all the time. My answer is usually the same. “Depends on how much of a loan you can qualify for”.

Unless you already have all the cash you need to buy your next apartment deal (and I am assuming you don’t) then you are going to need to get a loan. Understanding what it takes to qualify for a loan is one of the best ways to decide on a property size when you are starting out. If you try and go too big you are limiting the chances that you will complete the project. 80% of your efforts in finding deals should be spent looking at deals that have the highest chance of closing. What has the best chance of closing? Ask your sponsor.

In almost all loans commercial lenders want to see that you have the net worth equal to or greater than the loan amount. For example if you want to borrow $1,000,000 then you need to have a total net worth of at least $1,000,000 or more. Now, the nice thing about this situation is it doesn’t have to be just your net worth, it can include the net worth of your sponsor. A sponsor is a high net worth partner that you get to join you in the deal who brings the balance sheet you need to satisfy your lender. That is the great part of the multifamily business. We can get partners that will help us build our business and there is enough cash flow and equity for us all. Read More→

I am so excited to tell you about a trend that I am finding on short sales that I am negotiating! You have read in my previous articles and I also mention in my Home Study Course about an interview that went worldwide on 60 Minutes which named Wells Fargo, Chase, Citibank, just to name a few, as Lenders and Banks who were falsifying documentation regarding Notes that Docx Company had destroyed. The interview referenced all of the “Robo Signings” that were occurring. After this was announced to the Public, the Lenders and Banks that were involved in falsifying documentation were fined big time. However, the Lenders and Banks were very smart on helping Homeowners who were taken advantage of. What they did was they looked at 2nd loans on properties that were in default and forgave them. When choosing the loans that were in default, they were able to add all their interest and late fees on top of what was owed, so that when they forgave the debt, they were forgiving a loan that probably would have been put in their collection department and eventually written off anyway. I would recommend that each of you go to www.60minutesovertime.com and type in Robo and find the airing of the show so that you will know all the Lenders and Banks that you should be looking for on 2nd loans. The Lenders and Banks would just file a discharge of lien against the property and as to whether or not they really notified the Homeowners, I am unsure about. The reason I state this is that many Homeowners who aren’t paying their loans on the 2nd mortgage, they probably aren’t paying their loans with the 1st mortgage either. Meaning that the property is probably in foreclosure on most transactions. The Homeowners who are in default have probably moved from their homes and they would ignore all the paperwork that’s coming in their mail and would never even see a notice if their debt was actually forgiven. Read More→

Estimating Repairs as a Wholesaler

Posted on October 22, 2015 by

A common scenario…

You find a deal and the Seller is motivated to sell. You walk through the property and notate everything you think the property needs. You come up with some quick estimates, do some negotiating with the Seller and get the property under contract. Woohoo! Your blood is flowing. It’s time to sell it. You send it to your Buyers list and you have interest. Things are looking good. Buyers check out the house. The excitement then dwindles…

The reason? Repair estimate is too low. In some cases, very low. Before you know it, you are getting few offers and the few you get are simply too low…

Does this sound familiar?

This story plays out several times per week in our office from wholesalers that send us deals. The reality is, it is common for wholesaler repair estimates to be low. The majority of wholesalers I meet have never rehabbed a property. Selling to a rehabber is one of those things where it is best to walk in their shoes before trying to sell to them.

‘But wait, I don’t want to be a rehabber!’ you may be thinking. That’s ok, you don’t have to be. The solution is simple yet overlooked by the vast majority of wholesalers… Read More→

When you know the best pockets or market areas around the U.S. to find discounted real estate, you are half way home. All that is left is evaluating the inventory for maximum profit. For those of you connected to REIAComps , the control and feeling of confidence you have over your deals is priceless. Using REIAComps to investigate the value of “Shadow Inventory” houses as they come to market, against the recent sold comparables, will provide you a solid position to “make your profit when you buy”.

First, let’s define “Shadow Inventory”. The general definition goes like this; the current stock of properties in the shadow inventory, also known as pending supply, by calculating the number of properties that are seriously delinquent, in foreclosure or held as REO by mortgage servicers, but not currently listed on multiple listing services MLS’s.

CoreLogic has released its National Foreclosure Report with a supplement featuring quarterly shadow inventory data. According to CoreLogic analysis there were 46,000 completed foreclosures in the United States, down from 64,000, a year-over-year decrease of 29 percent. On a month-over-month basis, completed foreclosures decreased 8.3 percent, from 50,000 in one quarter. Read More→

I am always excited by the opportunity to share as many ideas as I can with regard to locating motivated sellers for your real estate investing business. After all, without the sellers, there are no deals. I also like having the opportunity to share ideas for both the beginner investor and the seasoned investor alike within a variety of budget constraints. One of my favorite techniques is using flyers to get the message out there that I buy houses.

Flyers are a great way to target and locate motivated sellers. They can be used to target specific neighborhoods and subdivisions where you want to buy houses. You can either hire a company to hang them door to door for you, or hire older children to hang these flyers for you.

Do follow up by driving by the area to make sure the work got done. When using a company to lay flyers for you, make sure you get references from satisfied customers first. There are some companies out there that will take you money and not get the work done, so you want to check their reputation before hiring them. Flyers are a wonderfully inexpensive way to locate sellers and this technique can be repeated either monthly or quarterly depending on your time and budget. When we used to lay flyers door to door ourselves, we would take one weekend morning to do this. My husband and I would each take one side of the street and lay flyers door to door. We would keep a chart of the neighborhoods we had done so we could track our results. You always want to be tracking where your leads are coming from so you know which of your marketing campaigns are working best. Interested potential sellers will hold on to these flyers until their situation changes and they are ready to sell, so laying flyers door to door becomes one of your long term marketing techniques. Read More→

If You’re Not Saying Wow, Then…

Posted on October 22, 2015 by

Boy was Mike ever excited! He found his first real estate investing deal; a property he planned to keep as a rental. Knowing that Kim and I loaned money to purchase investment homes, he gave me a call.

Mike’s contract was a gem of an opportunity – at least according to him. The seller told Mike that six other buyers were lined up with cash money. If Mike wasn’t able to close within a week, the seller would let another lucky stiff…errrr…I mean investor…have the home.

Mike explained that the house was built in 1955, had three bedrooms and one bath, needed a good bit of work, the neighborhood was okay but not great, and like-kind houses in the area rented for $800 per month. The seller told him the home’s fair market value was $115,000, but he was willing to let Mike steal it for $89,000.

Mike was chomping at the bit with no time to waste. He needed a purchase money loan and he needed it now!

After digging into the guts of this “deal,” here’s what we discovered. Read More→

I want to take this opportunity to talk to you a little bit about commercial property. I’ve got a lot of experience in commercial property from developing vacant land to income-producing properties of all kinds. My favorite is development.

But first, let’s talk about what is commercial property. And, in the world of residential it’s anything over 4 units. So, a 4-plex is not commercial, but a 5-plex is considered commercial. And, some of the properties that I have dealt with actually had income from tenants. I’ve had office buildings, I’ve had apartments, I’ve had retail and two or three other things, heck, I even had a mobile home park at one time, and over the years I’ve pretty much dabbled in everything.

I’ve specialized in nothing in the commercial world because I’m more of a generalist than a specialist, and of course we could have this discussion for hours. I think the smartest thing to do is to be a specialist because you can get good at one thing and not have to do so much and go through the learning curve that I had to go through. Read More→

CamFind App Review: Use it or Lose it?

Posted on October 22, 2015 by

“One machine can do the work of fifty ordinary men. No machine can do the work of one extraordinary man.” ~ Elbert Hubbard

Camfind is a new app that makes some big promises. It claims to be able to identify literally anything just by snapping a picture. I was quite skeptical since my past experience with Google Goggles left me hoping for more accuracy. But from object to QR codes, Camfind is far better than Google’s long forgotten product.

I used Google Goggles way back in 2010, but it has never been updated, so I haven’t touched it since. But I was intrigued by Camfind just because of the application to real estate needs. It could be a great way to identify a specific style of house, if you are looking to replace hardware in the home, perhaps a specific door knob, this has the potential to be very useful in this field. Read More→

This month I will continue explaining what I believe to be one of the best ways to add additional income to your wealth building strategies investing in Paper Assets.

There are two types of promissory notes “performing” and” nonperforming”. The performing promissory notes are the ones being paid by the borrower every month as agreed. The nonperforming promissory notes are not being paid as agreed and in many cases are in default and in the foreclosure process. Depending on what the asset is that has been used as the collateral for the note, if not being paid as agreed, it may be in jeopardy of being foreclosed upon and the real estate may be taken back or the borrower of non-real estate may be taken to court by the lender to get a judgment against borrower to try to reclaim the money they lent to the borrower. I believe every real estate investor needs to understand how paper assets can be a huge part of their wealth building plan.

One word of caution I want to mention, if you decide this is something you might like to participate in ALWAYS be sure to do your due diligence before ever purchasing any paper asset. The reason I say that is because I recently looked at a portfolio of defaulted notes held by a major bank. When I did my due diligence I found several properties that had a promissory note and mortgage attached to them had been bulldozed and no longer existed and all that was left was a vacant lot. A vacant lot is not worth anywhere near the amount owed on the promissory note. If I had not done my homework and I had bought those particular promissory notes and I decided to continue with the foreclosure that those properties were already involved in there would be no way I would ever get back as much as I might have paid for the promissory notes. Read More→

The process is supposed to be simple. If you have a securitized mortgage, you make your payments to a servicing company. The servicing company is granted the authority by the certificate holder of the loan to collect the payments and enforce the terms of the loan. But what if that servicer never actually had the right to collect? Even if they had the right, what if they covered all of your missed payments to the certificate holder and its trust that owns your mortgage? If this were the case, your loan is current. Would the servicing company have the right to foreclose on your loan that is current with the certificate holder/trust?

In most cases the servicers are making the mortgage payment to the certificate holders (the owners of the debt), whether the borrower makes their payment or not. This means that the certificate holders of the loan are getting paid, therefore there is no default giving them a reason to foreclose. This certainly explains why you very rarely see a declaration by the certificate holders or their trusts claiming a default! The servicer makes the payments and collects their service fees until they decide to foreclose, despite the fact that the certified holder of the debt never experiences a default. Once they foreclose on the loan, they can collect even more fees. Pretty sweet racket for the servicers, right? Read More→

System for Success

Posted on October 22, 2015 by

What will you do when things don’t go as planned? Will you flounder, or will you be able to put into motion a clear set of actions? In other words,

Do you have a System for Success?

Recently, a colleague of mine had two contractors burn him on a job. It should have been a quick fix, three days maximum, light work… paint, cleaning, and light bulbs. But neither contractor had a system to get the job done right, and he did not have a system to fire contractors and still come in on budget. The upshot is that, without a system, you risk losing time and money.

Often, when things don’t go as planned (and this can be often!), we have fear. We become paralyzed, perhaps we focus on the negative. To be successful, we need a plan that keeps us from feeling this way because what we want is success.

What does a good system give you? Read More→

Thurs, November 12th at 6PM @ Doubletree Suites Tampa Bay
Tampa REIA – November 12th
at the Doubletree Suites Tampa Bay
How to Structure Deals for Passive Income Like the Top 1% of Investors
with Special Guest, Paul Rossano

Tampa REIA Members Can Attend for FREE.
Guests Can RSVP Online Now for $15 or Pay $20 at the Door.

RSVP Now!

Tampa REIA Members Please RSVP on Meetup.com
Tampa REIA Members Please RSVP on Meetup.com

Paul RossanoTampa REIA is excited to announce that Paul Rossano, lead trainer with MPactWealth, will be the special guest speaker at our Main Monthly Meeting on Thursday, November 12th at 6PM. The meeting will take place at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL. Paul will be sharing with us his years of knowledge about being an entrepreneur and investor.

For the past 15 years, Paul has been involved in business with real estate as an investor and a broker. He is a devoted student and teacher of success, and embraces a philosophy of constant and never-ending improvement in all areas of life. Now a lead trainer for MPactWealth (recognized by Inc. 500), Paul’s mission is to share his vast knowledge and experience with others to help them achieve the level of success and freedom they desire and deserve. Most investors know how to find the deals, and many even know how to find the funds to close the deal, however, the majority of investors do not structure their deals properly and they leave themselves vulnerable down the road. You definitely don’t want to be that investor. So don’t miss this very important meeting.

At the meeting, Paul will briefly discuss what he will be going into more depth about at The Wealthy Code Workshop. He will discuss…

  • Mistakes to avoid in order to earn passive income that is consistent and dependable
  • How to evaluate and adjust deal risks and rewards in a way that allows you to make the deal work for you
  • Ways to minimize your risk and and maximize your profits by using different structures for your deals
  • How to achieve the dream of most entrepreneurs of working less, having less stress, and having more money and the freedom to spend your time doing what you love to do
  • And much, much more!

Don’t miss this great opportunity to learn how to structure all of your income producing deals to make you more money. All this is happening at the Tampa REIA main meeting on Thursday, November 12th at 6PM at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL.

As always, Tampa REIA Members can attend the event at no charge and Non-Members can Register Online for $15 or pay $20 at the door. Be sure to bring your business cards and flyers and join us for an evening of real estate deals, vendors, networking, education and fun! See you there!

BonusMember Appreciation Event: Don’t miss the opportunity to learn much, much more from Paul at the 2-Day FREE* Member Appreciation Event on November 13th & 14th. This event is FREE* for the first 100 Tampa REIA Members who sign up. Many seats have already been reserved, so if you have not RSVP’d yet, Reserve Your Seat ASAP!

*PLEASE NOTE: This event is FREE and limited to 100 members who RSVP. However, there is a $25 reservation fee to hold your seat that is 100% refundable if you attend both days and stay to the very end. There will be absolutely no refunds for no shows or those who leave early. No exceptions. Date, Time & Location are subject to change.

RSVP Now!

Tampa REIA Members Please RSVP on Meetup.com
Tampa REIA Members Please RSVP on Meetup.com

*Meeting Agenda
6:00 PM: Tampa REIA Meeting in Tampa
6:15 PM: Announcements, Introductions, Haves & Wants
7:30 PM: Main Presentation with Paul Rossano
9:30 PM: Late Night Networking at Whiskey Joe’s Bar & Grill

*Please Note: Meeting agenda is subject to change.

Late Night Networking at Whiskey Joe’s Bar & Grill

Whiskey Joe's Bar & Grill Tampa FloridaAfter the conclusion of the Tampa REIA Main Meeting (around 9:30PM), we will be reconvening at Whiskey Joe’s Bar & Grill located at 7720 West Courtney Campbell Causeway in Tampa for the “Meeting after the Meeting”. Come eat, drink, network and have fun with us as hang out late into the night on Tampa Bay!

See Tampa REIA Events Calendar for More Events!
Thurs, October 8th at 6PM @ Doubletree Suites Tampa Bay
Tampa REIA – October 8th
at the Doubletree Suites Tampa Bay
Cash Flow Commander:
How to Buy Properties for Pennies on the Dollar
with Special Guest, Tom DiAgostino

Tampa REIA Members Can Attend for FREE.
Guests Can RSVP Online Now for $15 or Pay $20 at the Door.

RSVP Now!

Tampa REIA Members Please RSVP on Meetup.com
Tampa REIA Members Please RSVP on Meetup.com

Tom DiAgostinoTampa REIA is excited to announce that Tom DiAgostino will be our special guest speaker at our monthly meeting on Thursday, October 8th at 6PM at the Doubletree Suites Tampa Bay located at 3050 North Rocky Point Dr West in Tampa, FL. At the meeting you will learn…

  • Why auctions are not the answer, and the secret to making maximum interest
  • How to make an easy 18-36% returns without owning real estate, but enjoying its security
  • Where to tap into the most motivated sellers on the planet with the LEAST Competition
  • Why this is the easiest way to buy properties so cheap it feels like stealing
  • Why there is so much meat on the bone, it’s hard NOT to make insane profits
  • How to do it ALL within your IRA
  • How we make our staff available to DO IT FOR YOU
  • And much, much, more!

Regardless of your experience or location, you can earn unthinkable interest, or find unbelievable deals to wholesale, flip, or partner on. Even Homer Simpson can do this. Deals at 10-30% of repaired value!

Tom’s been around the block for over 25 years and done it all. This is not the flavor of the week. This training will change your financial life, and your generations to come. Stop trying to ride the next wave, only to find you’re on the back end, left at sea. We’re not just trainers; we’re your investment partners. Come spend 90 min on October 8th, 2015, where Tom will explain why this is the best deal source on the planet for every type of investor.

About Tom DiAgostino

From the Monroe Housing Projects in the South Bronx of New York City — to Pace University student, Army Second Lieutenant, market trader, project manager, real estate landlord, builder, rehabber, developer, and tax lien and deed investor and trainer, Tom is your authority with his 25 year real estate career.

Tom DiAgostino recently joined best-selling author Jack Canfield, named by Time Magazine as the “Publishing Phenomenon of the Decade,” and a select group of America’s leading experts, to co-author the book titled, “Dare to Succeed: The World’s Leading Experts Reveal Their Secrets to Success in Business and in Life – and Dare You to Succeed,” released on August 29, 2013 by CelebrityPress.

As always, Tampa REIA Members can attend the meeting for FREE and Non-Members can Register Online for $15 or pay $20 at the door. Be sure to bring your business cards and flyers and join us for an evening of real estate deals, vendors, networking, education and fun! See you there!

5 Days & 4 Nights in CancunWIN A FREE 4 NIGHT STAY IN CANCUN: All participants who attend the Tampa REIA Meeting will entered into a drawing for a chance to win a *FREE 5 Day, 4 Night Stay in Cancun! *You must be present at the meeting to win. Giveaway does not include dining, transportation, transfers, taxes, upgrades, etc.

RSVP Now!

Tampa REIA Members Please RSVP on Meetup.com
Tampa REIA Members Please RSVP on Meetup.com

*Meeting Agenda
6:00 PM: Tampa REIA Meeting in Tampa
6:15 PM: Announcements, Introductions, Haves & Wants
7:30 PM: Main Presentation with Tom DiAgostino
9:30 PM: Late Night Networking at Whiskey Joe’s Bar & Grill

*Please Note: Meeting agenda is subject to change.

Late Night Networking at Whiskey Joe’s Bar & Grill

Whiskey Joe's Bar & Grill Tampa FloridaAfter the conclusion of the Tampa REIA Main Meeting (around 9:30PM), we will be reconvening at Whiskey Joe’s Bar & Grill located at 7720 West Courtney Campbell Causeway in Tampa for the “Meeting after the Meeting”. Come eat, drink, network and have fun with us as hang out late into the night on Tampa Bay!

See Tampa REIA Events Calendar for More Events!
Sat, October 10th at 9AM – Tampa, FL
Tampa REIA Presents:
Cash Flow Fortune:
What You Don’t Know About Tax Sales is Costing You Million$
A Full Day Workshop with Tom DiAgostino
Saturday, October 10th from 9:00 AM – 4:00 PM
At the Doubletree Suites Tampa Bay
3050 N Rocky Point Dr W, Tampa, FL

Tom DiAgostinoDuring this special training with Tom DiAgostino, you will discover:

  • How to CONSISTENTLY buy properties at 10-30% of Repaired Value so you make more money EACH Deal
  • Where to get great liens at the maximum rate allowed by the state and double your money in half the time
  • How to get Valuable properties for FREE with simple mail done for you
  • How to use your IRA to keep 100% of the profits, compounding your wealth building
  • What kind of diligence is necessary for the property and for title work to avoid mistakes
  • Strategies for wholesaling, retailing, rehabbing, and landlording for maximum profit
  • Free Gifts to be provided to all attendees of 1-Day Workshop
  • And much more…
Register Now!
See Tampa REIA Events Calendar for More Events!

The Profit September 2015 Edition

Posted on September 17, 2015 by
The Profit Newsletter for Tampa REIA September 2015
Download the September 2015 Edition of The Profit Newsletter Now!

The Profit - September 2015 - High Quality PDFThe September 2015 edition of The Profit Newsletter is now available for download as a High Quality PDF (print quality) or Low Res PDF for mobile devices. The Profit Newsletter is the official newsletter of the Tampa Real Estate Investors Alliance and is a digital, interactive newsletter for serious real estate investors delivered as an Adobe PDF file to read on your computer, tablet, or smart phone with a PDF reader. Many of the articles and ads in The Profit contain hyperlinks you can click to get more information online. The high res version of The Profit is “print ready”while the low res version may load faster on your mobile device. Also, be sure to Subscribe to The Profit so you don’t miss a single monthly issue.

Download Now!
High Quality PDF / Low Res PDF
See The Profit Archives for our past editions.

“With Google I’m starting to burn out on knowing the answer to everything. People in the year 2020 are going to be nostalgic for the sensation of feeling clueless.”
~ Douglas Coupland

Go to your computer right now and Google “real estate.” Go ahead, I dare you. Care to guess how many results you’ll get? Well, I just tried it, and I got 1.1 billion results. That’s billion with a b. Talk about information overload!

You’re pretty sophisticated, though, so you know not to try that kind of a mushy search. And you already know that you can search specifically for images and videos. You also realize that Google is pretty good at guessing what you’re looking for, and it will usually put those results first. But not always: If you search for “bronco,” Google won’t know whether to give you information about cars, football, or rodeos.

Luckily, you can tweak your searches to be surprisingly precise, if you know how. Here are some tricks for searching on Google that I’ve found useful. I’m concentrating on Google because it’s so popular, but some of these will work in other search engines, too. Read More→

If you have done wholesaling for even just a handful of months, you have undoubtedly come across that property that was going to be an easy deal, a sweet deal, a killer deal only to have it stall and possibly unravel because of a title issue. Obtaining clear and marketable title is a key item that rarely gets focus in courses I come across. It is usually a ‘the attorneys will take care of it’ issue. This is 100% true except that it is still YOUR deal first and as long as it is your deal, you must remain in the driver’s seat.

Too many times, I have come across deals that stall simply because as a wholesaler, we forget that the closing attorneys get rather busy themselves and we may find our transaction playing second fiddle or even backburner to ‘easier’ transactions for the closing attorney. This is not a fault of the closing attorney. Think about it, like you they most likely want to knock out the low hanging fruit the same way you thought your deal would be an easy one!

Sadly, this results in even more time to resolve issues and potentially frustrated Buyers both with you and the closing attorney. Not all Buyers have the same desire to be patient to get a deal done. So how do we handle this? Read More→

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