One of the problems of trying to relate to a wide audience through an online blog is that most of your readers don’t know “the real you” all that. So let me share a bit about myself on a personal note. I’m a pretty basic kinda guy. I may specialize in finding ways to make money investing in CA foreclosures, but I’m not really all that extravagant. In fact, I mostly wear blue jeans to just about every type of event save weddings or funerals. I’ll switch out my shirt depending on the occasion and will sometimes “dress up” by throwing on a basic sport coat, but that’s about it.
I also pretty much keep only two or three pairs of jeans on hand at any given time. (God allowed man to invent the washing machine for a reason I’m told) This being the case I had waiting a good while to get some new jeans from Old Navy during their holiday “Black Friday” sale. After checking out the paper, I discovered that they were also having a Thanksgiving Day sale where you could get an additional $10 off a purchase of $50 or more. As I was planning on getting two pair of jeans and two light sweaters for cool evenings I found that this was something that appealed to me.
At the time, I was certain that I would be able to Read the rest of this entry »
As big a state this is it’s inevitable that there are tens of thousands of people sitting on the sidelines right now thinking about starting their own California real estate investing business.
Also inevitable is the fact that 90% of those people will never take any type of action and thus will never see any real change in their life. Instead of networking Realtors, mortgage brokers, and other real estate investors, they instead choose to watch the news and allow the doom and gloom to prevent them from getting off the couch and getting down to business.
It’s not enough just to think about investing in bargain priced CA foreclosures, you have start by walking though them…and not just a few, but a few hundred. Nobody every picked up a $50,000 check because they threw up 1,500 posts on every real estate investing forum. There is no money in chatting with your family and friends about holding long-term rentals, flipping on lease option of seller financing, wholesaling, or prehabbing for other investors if you are not actually doing any of those things. As the great Alec Baldwin said, “Coffee Is For Closers!”
You need to ask yourself one question, “Do you want to impress people with your knowledge or do you want to collect checks?”
It’s not a very hard concept, but it is one that will make or break you when it comes to getting out of the rat race, tossing your ordinary job, and achieving a richer, fuller life.
Procrastination is “Dream Suicide”. It kills your hope and vision for a better tomorrow slowly like sipping poison in small quantities each and every day. Each day that you are not out looking at foreclosure properties, not investing in your education, your online web presence and marketing efforts, every day you choose not to invest time building a better relationship with the people you already do business with, or having lunch or coffee with someone that help you get from where you are to where you want to be is a day that brings you that much closer to your dream fading away.
You count out 15 years and look back and realize that you never ended up doing that “real estate investing thing” after all, even though the number of CA foreclosures is at an all-time high and deals are Read the rest of this entry »
In July, President Barack Obama started placing pressure on banks and mortgage companies to put forth a greater effort to revise home loan terms in order to make them more affordable and avoid additional foreclosures. The President’s actions came as a relief to tens of thousands of homeowners who stood worried that their home would soon be added to the swelling pile of CA foreclosures.
Almost immediately after the government’s program went into effect Republican members of congress began to say that the President’s move might be too little too late plug the dam on this escalating problem.
While the administration set a lofty goal of preventing 3 to 4 million homes from going into foreclosure, a recent government oversight report expressed doubt over whether Read the rest of this entry »
Real estate data companies that track CA foreclosure and how they impact the market have revealed that the number of defaults in the state is in a state of decline. Are we seeing the beginning of a recovery in California’s housing market or is it a mirage in the desert?
Right now analysts are saying that one reason for the significant decline in foreclosure auctions may be anticipation over the Obama Administration’s plan to expand a mortgage modification program. It would encourage so-called short sales. That’s when a property is sold for less than what’s owed on the loan. RealtyTrac’s Daren Blomquist:
“That’s one theory of why these defaults may be trending a little bit down is some lenders are anticipating that short sale program and maybe are not as quick to file the initial notice of default.”
ForeclosureRadar, a company that tracks the market trends of CA foreclosures reported that foreclosure activity reported figures released Tuesday indicating a continuation of a trend seen played out over the past several months: Large numbers of homeowners are falling behind on their mortgage payments but the lenders are forestalling foreclosure proceedings while they make an attempt to work out some type of loan modification or, if the homeowner is unemployed or otherwise unable to make any type of reasonable payment, attempt to avoid a foreclosure by selling the home on a short sale.
This development is attributed in part to the push by the Obama administration to expand mortgage modification programs which is set to encourage short sales (the sale of a home for less than the amount owed) instead of pouring tends of thousands of additional CA foreclosures Read the rest of this entry »