In 2010…

Most people’s budgets are tight.
Many people fear losing a job.
Many people are unemployed.

Many people are helping friends/family who are unemployed, or underemployed.

#1 priority is to keep your money whenever possible, right?

The main 3 options currently ask for your money:

Renting a property requires 1st months rent + deposit or double deposit

Rent to Own, requires option money of $3000-$7000 + 1st months rent

Contract for Deed requires 5-10% down payment often, sometimes $6000-$7000 is
enough.

These all require money out-of-pocket today.  People prefer not to part with money If you want help with any of the above, please contact me. There is one solution to saving your money, and that’s getting a home loan. With low home prices, and low interest rates, often buying comes with a cheaper house payment that renting these days.  There are numerous down payment and grant programs out there to handle your down payment when you get a home loan.

Home loans start at 580+ credit score. Most will have below a 580 score, so
please go to http://www.ronorr.com to figure
out how to raise your score and contact us

on how to get working with a credit repair specialist right away, so we can get
you a home loan and save you money.
http://www.ronorr.com

broker-MinnesotaInvestors.com, Inc.

Blog Social Network Marketing: Home Based Opportunity

Here is another great article written by Mario

Everywhere I go I hear the same conversation and that is real estate agents, loan officers, and closers talking about what their plans are to bounce back from the devastating collapse of the real estate and mortgage market. I wanted to know where all of these highly skilled professionals are going to create, once again, their six figure incomes that they learned to enjoy.

The biggest common denominator of the people who will come back strong/stronger is their attitude. Its not the situation but more importantly how you react to it. Although I have seen some pretty upset people I would say the majority are looking at things as an opportunity.

What options are there?
-go back to school
-employment
-outside sales rep
-self run small business
-network marketing business
-franchise
-put together a business plan to begin raising capital
-invest
I believe for the first time people are realizing that there is no such thing as security. People are now thinking a little bigger because they know what they really want. The reality is that a lot of these professionals did well financially but put in every waking hour to make it happen. People want the money but the time freedom to enjoy it as well. How is this actually obtainable? The answer is business systems.

Its time that we understand that being self-employed is really just glorified employment because we are only getting paid on what we do. There are only so many hours in a day making your income limited.

Sit down today and really decide what’s important to you. Time, money, freedom, FUN. Fun and excitement being the most forgot about. After you figure out the specifics its going to be easier to decide the direction you want to take.

I’m going to suggest a couple options above depending on your personality, goals, and finances.

Look for options that give you the ability to leverage yourself.

If you have accumulated a good amount of money over the past few years than it wouldn’t be a bad idea to get with some experienced individuals and start making some investments. The great thing about this option is the fact that you are letting your money work for you and is good for a low people/high freedom situation. I am not a financial advisor so I
will suggest you get with someone with experience, a strong personal portfolio, and clientele that you want to be like. If they are use to advising people on that level, how do you think they will advise you… On that level. The reason I say make sure they have a strong personal portfolio is because its easy to give advice from a book or company training courses but being active gives them the real life experience and a little skin in the game. Think outside the box and do your due diligence in learning what you are investing in. There are so many different kinds of investments outside the basics of public stock and bonds. Your advisor is there to guide, but you need to be knowledgeable in what you are doing. Your knowledge will give you confidence to take bigger risks which can potentially bring stronger returns. You are still able to go and do things that you enjoy doing even if that means going and getting a job or starting a side business but you will have the peace of mind knowing you do it because you want to, not because you have to.

Network marketing may be one of the most overlooked ways to build a business system due to people’s lack of understanding. With the right company, product, compensation plan, and leadership, this might be the best one. I look at the home based business/network marketing/mlm industry as the last hope for the little guy. Why? Generally a small investment compared to traditional business startups. If run like a business they can be highly profitable in a reasonably short period of time. They give you the flexibility to work when you want. Liability is limited because the corporate company handles the majority of it. The system is already in place. Most importantly leverage. You are able to duplicate your efforts quickly without opening up brick and mortar stores. I look at network marketing as a very simplified version of franchising. I personally started my business career in network marketing at the age of 18. I never went to college, and most would tell me that I could never get ahead with out a degree. But the amount that I learned as well as the high profits I made I would suggest everyone consider this option. There is a high level of rejection so it’s not for the faint but as long as you understand that its a numbers game just like any other business, you will do well. As icing on the cake it has the fun and excitement factor that most people wish they had. I still to this day run a successful network marketing business.

Starting a business from the ground up is also a good option. You have to have the money to sustain yourself for the period of time it will take to get your business off the ground. Start with a great idea and then formalizing it with a strong business plan. When putting together your plan make sure that the entire business is not revolving around your personal efforts. You are in essence designing a machine that can run on its own after being launched. The biggest mistake people make is they get going without the capital to do what the system is supposed to do. If the system can’t do what’s needed then you will not get results to match you projections in your plan. Make sure you have access to or the ability to raise the funds. This is going to be the highest risk and the longest time to begin making substantial amounts of money.

No matter what option people choose to run with I would encourage them to think big and go for the gusto. Don’t make decisions based on hype but on facts. We are still in the land of opportunity but you have to be willing to do something different and be creative to enjoy the benefits big opportunities.

Mario Dattilo
mario@jmgcompanies.biz

Minnesota Short Sale Homes

Ron did a longer more detailed article at this link for minnesota short sale homes

This article was written by Mario, a mn short sale process specialist….

I always submit the package to both 1st & 2nd simotaniously to get the

ball rolling on both because they are slow. I sometimes will have the

Estimated Hud1 going to the 1st say that they are going to pay the 2nd

2000-2500 knowing that the chances of them doing so is small and i send

the 2nd one saying they are getting 500 or 1000. Y would i do this?

Because it gives me room to negotiate and let both sides feel like they

got a deal. The 1st will normally says they will not do more then 1000 to

the 2nd and the second will say they will not accept less then

1000-2000 to release their lien. If i can get the 1st to pay even 1500 it will

make the 2nd jump a lot faster because they normally are stuck with

1000 and the first feels like they negotiated down on the amount they

were paying. one thing to always remember is that the 2nd is pretty much

forced to play along if the 1st is taking a discounted payoff. Once the

1st has shown they are taking a hit, you are simply convincing the 2nd

that they need to take the 1k-2k payoff. The trick with short sales is

all in the BPO. If you can get the BPO value down low enough you are

golden. Even if the 2nd puts up a fight because their bpo came in higher,

you can try to convince them to let you order a 2nd opinion on the

property (this works best if you are adiment about the bpo agent being

crazy and way off on his numbers. believe it or not if you keep pushing

they will usually break and put the bpo into review or allow the 2nd

opinion) and in some cases you can even get the 1st to send over a copy of

their BPO or appraisal even though they are not supposed to. when the

2nd sees what the 1st is going by… usually they break. 1 trick that

normally gets the 1st to give you their bpo value (crucial when

negotiating with the 1st) is to act like you already know what it is. Call and

talk to the account rep a few days after they recieve it (they dont

remember what they already did and didnt tell you because you are 1 in 300

files) and say this word for word in normal conversation about the bpo

coming back “yeah well, now that the bpo came back at …… (has to be

lower then you think it really came in at/make sure it is lower then

what you are shooting for) what else do you need from me to get this

approved” like they already told you and I will bet you money that they

will come back and say “no…. it didnt” then you say “that’s weird,

thats not what i was told, are you sure?” say it with conviction and they

will say.. “let me see something” they will say “looks like it came back

at ….” and bam you know what you are working with. they can usually

play within 10-15% of that value depending on the lender. at least you

know you are in the ball park. Bring that value back to the 2nd and rub

it in their face that they have no chance getting more then what the

1st agreed to because the 1st sees the house valued much lower then what

they are owed. The more confident you talk to these people

(respectfully of course) the more they will take you seriously. When i first

started i thought that policies were stiff and the mitigator couldnt get

things pushed through but you would be suprised what a little pressure and

posture will do to a tough deal. This business takes a little hustle

but when you get it down, life gets a little easier and deals are more

predictable (faster too). Hope this mini book helps you.

Minnesota Short Sale Homes

This article is written by Mario who has experience doing mn short sale homes

Yes you are right about making sure you have the authorization letter

in and that you are polite with the mitigators. Sometimes its as simple

as making sure they recieve the letter because these lenders swap

numbers around like shoes and there is no way to know if you got it to the

right people. Give you an idea of the process to ensure you are not

doing anything wrong and then if it them being dumb how to get some reply.

1) make sure the lender you are working with is worth working with.

Some people may disagree but i know the lenders I will and will not work

with because some lenders are just not worth dealing with. The only way

you will learn this is by doing enough deals to learn their systems. I

will tell you the main ones i will not touch. Wells & ASC which is a

servicer of Wells’ risky paper. I recently had a house with a 410k

mortgage with wells and i was only looking for a 30k discount (nothing!) and

they let it ride all through redemption and took it back. there was

absolutely nothing else i could do. So make sure the lender you are

working with is worth it.

2) Contact the lender at the before you do anything and ask where to

send the Auth Letter and see if they will send you a “short sale package”

(sometimes referred to as a workout package). This is simply a check

list of what is needed and where to send it when you have it. sometimes

they will send a borrower financial statement that the borrower needs

to fill out to tell the bank what the borrowers finances are looking

like. Sometimes they will not even give you that until you send the Auth

letter and in that case fax the letter over and 48 hours later call in

and request it. This simple step can make a big difference. Sometimes i

get a little cocky and figure i have done it so many times that i know

what they need… and every time i end up holding the deal up because

they changed the needed docs and it puts me back in my place. With this

also make sure that you give them EVERYTHING they want at the same

time. do not send 1 thing in at a time and to make it idiot proof for these

people put it in the order that they have it written on their

checklist and make sure it is obvious what each thing is. Include acct numbers

on top of EVERY page. These people dont care and they will not take the

time to look for things. On cover sheet make an index of what is

included in the packet and the order they are in. Some lenders time stamp

you and if you request the shortsale pack and take too long to get the

requested info in they will close the file. Usually if you send most of

things in and miss something but they dont call you to tell you. There

is a good chance this is y you are not getting a response to your calls.

Resubmitt the FULL packet and attempt to start it over. I went 2

months one time with no response for that reason and never knew it because

no one would return my call to tell me. also on the cover sheet Write in

big letters “URGENT - FULL SHORT SALE PACKAGE” you know most people do

that but The word full is important because it tell the lazy people

that they have a pack that is ready to go and less work on them. if a

sheriff sale date or end of redemption is coming soon put “REDEMPTION ENDS

2/14/07!” to set a sense of urgency.

3)Make sure that when you submit your packet you followup every day

after to see if your packet has been processed. These banks are large and

it sometimes takes them a couple days just to put your packet in the

system to start the process. Each time ask if a mitigator has been

assigned to the file. The reason i say this is because the mitigators get

tons of files everyday and they easily overlook yours unless you stay on

them. You want to talk to them the second they get it on their desk. If

the say there has been someone assigned to the file then ask right away

for their name, direct number, fax, and email (depending on the bank

they may not give you that) but if you get their email… Game Over! Now

begin contacting the mitigator directly from there on out. A little

tip for you… their phone systems are all similar and after a while you

will start to learn your way around them. If you are not getting calls

returned by the assigned person start to call the loss mit number and

when they ask for the ext number dont hit anything and a lot of times it

will bring you to a random rep (sometimes it is even an option to

press extension or wait for next available rep). When someone hops on the

line explain to them that you have been attempting to contact “John” the

assigned person and he has not returned calls for a few weeks. I have

had other people take over the file and help me out and get the deal

done in a very short period of time. These mitigators take more

vacation/sick days then any other profession i have seen so far. So a rep may be

out of office for an entire week and let all their files just sit

there or i have even had a rep get transfered out of that department or

laid off and no one takes over their files. If the person that gets on the

phone is blowing you off and seems to busy to deal with your file then

politely tell them that you know they are very busy and you dont want

to waste their time and to put you through to a supervisor. most likely

they will just to get you out of their hair. When they do this… it’s

like getting the deal on a silver platter because now when the

supervisor puts u with a new rep, you can always go back to them and tattle on

the rep if they are not doing a good job and the supervisor will put

some fire under their but and sometimes take over the file themselves.

If you still have no luck, call customer service number and ask what

the mailing address for Loss mit is and mail them the full package with a

cover letter explaining how it has been impossible to get in contact

with them. Send the letter priority so you can see when it was recieved.

Also send Faxes with the same letter to thier main fax line addressed

to Loss mit supervisor. Do that 5 times a day and it will eventually

annoy someone handling the faxes enough to do something about it.

Hope this stuff helps. Just make sure you submit your stuff right

because 99% of the time it is our fault they cant move forward, do to our

laziness!

Ron did a longer more detailed article at this link for minnesota short sale

Minnesota Short Sale Homes

This article is written by Mario  Mario is a agent who specializes in doing mn short sale homes

Yes it does help to have friends in the business. Dont be afraid tohave the closer do some work when preparing to submit the package to the

lender. the closer will understand that it is a needed step in the

process. When i started doing shorts, i didnt want to call my closer and

have them do anything until we were getting ready to close because i felt

like i was wasting her time, so i started looking around for software

to do huds or get a blank one and do it myself. I made mistakes and my

closer got mad at me because it made her job harder to fix the problem

then to just do it right the first time. It only takes them 3-5 mins to

put one together but you want to make sure all their fees are accurate

and let them do a little footwork to check on tax assessments and

association dues. You need to put together a good real estate team and a

good closer (not always your closest friend, because u need to be able to

fire them if they are not performing. you cant fire aunt jenny!) is a

key part of the team as well as a good agent, appraiser, inspector,

contractor, mortgage broker. all im saying is let them do their job and you

do yours. I promise they will charge you for it either way! a great

team player is not someone who can cover everyones position, it is

someone who plays their position the best and knows when to pass the ball to

the other players to do their plays.

Ron did a longer more detailed article at this link for minnesota short sale