AllWholesaleProperties.com Blog

Building/Managing a BirdDog Team Agenda at the REI Expo 28 & 29 Jan

2012-01-17T19:30:00.000-06:00

Take a look at this quick update on the agenda to be discussed for my class - Building/Managing a BirdDog Team at the 2012 REI Expo in Dallas 28 & 29 Jan
http://www.youtube.com/watch?v=QSafRkH6tL8

C U there
Tim
www.BirdDogTXHouses.com
www.TurnHomes2Cash.com
www.GetFreeElectricityToday.com

Building/ Managing a BirdDog team at the Dallas REI Expo

2012-01-16T19:03:00.000-06:00

You haven't missed it yet! It's not to late to register for the 2012 DFW REI Expo. Check out my video.
http://www.youtube.com/watch?v=Xsx_Msw2j7A

Hope to see you there 28 & 29 Jan in Dallas. Be sure to mention the West DFW REI Group for a 20% savings. Register NOW!

See you there.
Tim

Expanding/Blowing Up My Buyers List and My Deals in 2012

2012-01-15T10:57:00.004-06:00

Hello everyone. Hope your 2012 is off to a bang. I'm expanding/blowing up my buyers list again and the number of deals we are going to do in 2012. If you want to be a part of it please read below and let's do business together.

Please add me to your list for Tarrant and Parker co. I'm looking for ALL DEALS up to around 200K ARV but will look at deals above that if it’s a killer deal. More specifically I have buyers for good rehab properties in solid neighborhoods 50 to 150K ARV and I have buyers looking for turnkey rentals from 50K up to about 125K ARV. If you aren’t sure it’s a deal and don’t know what to do with it, send it to me and I’ll work it and if I get paid, you get paid.

If you are wholesaling in Texas and have DEALS you'd like to sell me please submit your deals you have under contract to http://www.allwholesa..., and provide all the details and be sure to identify yourself as a wholesaler and provide your contact info. Please give me as much detail as possible on the deal and pictures allowing us to make a faster decision.

If you would like to be added to my buyers list, go to http://www.rfsubmit.c... click "ADD BUYER" and fill in the blanks. Please provide as much info as possible about what you are looking for.

If you are "birddogging" deals in Texas ONLY, please go to www.BirdDogTXHouses.com , register, read the welcome letter you will receive in your email for instructions and start submitting your birddog leads and we'll go to work for you. (Be sure to check your spam and junk filters for the welcome letter)

NOTE: TO LEARN MORE ABOUT BUILDING AND MANAGING A BIRDDOG TEAM BE SURE TO COME HEAR MY BIRDDOG CLASS AT THE 2012 DFW REI EXPO 28&29 JAN IN DALLAS. BE SURE TO REGISTER AT www.reiexpo.com AND MENTION THE "WESTDFWREIGROUP" FOR A 20% DISCOUNT. REGISTER NOW!

If you have questions or problems with the web sites please call my assistant Cassie at the number below.

We look forward to working together and making 2012 a fantastic year and helping alot of families that need our services.

Tim Cook
www.AllWholesaleProperties.com
www.BirdDogTXHouses.com
www.Meetup.com/West-DFW-REI-Group
817-599-8058

HELP For Jobless HOMEOWNERS

2012-01-14T07:01:00.000-06:00

Here are a couple of interesting articles;

HELP For JoBless HOMEOWNERS

PLANO (HousingWire.com) – Many jobless homeowners unable to make their monthly mortgage payments will soon get a little help from Fannie Mae and Freddie Mac.

The government-sponsored housing finance companies have announced plans to allow such borrowers to defer part or all of their mortgage payments for up to 12 months while they are out of work.

Fannie Mae will require mortgage servicers to install a new program providing forbearance relief to unemployed borrowers beginning March 1.

Servicers will be able to provide up to six months of relief without getting approval from the government-sponsored enterprise. Special consideration can be given to borrowers who require up to 12 months of forbearance.

Freddie Mac will begin offering 12-month forbearance plans on Feb. 1.

Delinquent borrowers and others on the verge of default are eligible for the program. Second homes and investment properties will not be considered.

Servicers must determine that a borrower has less than 12 months worth of mortgage payments in reserves and has monthly housing expenses above 31 percent of their income before extending a forbearance plan.

NOTE: While you are here be sure to subscribe to our BLOG. We are pretty new at this BLOGGING thing but plan to start publishing some some tips and tricks of the trade. Please come join us and also please tell everyone you know. The more that participate the more benefit.

Happy House Hunting!

Tim
AllWholesaleProperties.com

FHA Lifts Anti-Flipping Rule Thru End of Year

2012-01-10T08:35:00.002-06:00

This is great news. Happy Hunting!

http://www.dsnews.com/articles/fha-waives-anti-flipping-rule-through-year-end-to-speed-reo-sales-2012-01-03

Go buy some houses

Tim

Happy Thanksgiving to all

2011-11-23T15:12:00.001-06:00

Happy Thanksgiving to you all and your families. Use this time off this Thanksgiving holiday to reflect on the good in your lives and all the good you have done for all the families you have helped in your RE business. Use this time to reflect on the freedoms we enjoy becuase of all our Veterans and their families and the sacrafices they make for us every day. Say hello and thank you to a Veteran and thier families this holiday weekend for we have alot to be thankful for.

Have a great Thanksgiving with family and friends and be safe

Tim

P.S. Be sure to subscribe to this Blog to stay up on the latest tips and tricks to wholesaleing houses. As always, be sure to post a comment to the Blog to voice your opinion for others to enjoy and please share with your friends.

Happy Veterans Day!

2011-11-11T08:09:00.000-06:00

To all Veterans and your families - thank you. Thank you for your dedication to support and defend this great country, to keep us free from the threats around the world that threaten our freedoms we enjoy every day but take for granite, and thank you for your families support and the sacrifices they make everyday as well.

Thank a Veteran and thier families today. Tell them how much you apprecaite what they do.

Tim

Is procrastination a challange for you?

2011-11-09T20:01:00.000-06:00

Is procrastination a serious challenge in your life? Admittedly, it can be difficult to do things we don’t want to do.

Even when we know that waiting too long will create a lot of challenges, getting started can still seem impossible. Unfortunately, when procrastinating affects your job-related tasks, it can have a negative impact on your professional career as well.

So how can you kick this annoying tendency to put things off and start getting them done instead?

Try these strategies:

1. Schedule when you’re going to do it. Make an appointment in your calendar for the day and time you’re going to work on the task. This is far more effective than just leaving everything up in the air until the right moment seems to present itself.

2. Consider scheduling just enough time to get started. A long, unpleasant task can be very difficult to start. Think, “I’m going to work on this for 20 minutes.” That’s easy enough that you should be able to sit down and get busy. Interestingly, once you get started, you’ll probably spend a lot more than 20 minutes on it. Getting starting is the tough part.

Make it as easy to get started as you possibly can.

3. Break the task into smaller parts. Larger tasks can seem overwhelming. By dividing the task into manageable parts, it will be psychologically easier to tackle the project. It’s easier to do 10 small things than one big thing.

For example, once you’ve done five small things, you know that you’ve completed five things, instead of just starting on the one big thing without deriving any sense of accomplishment. So break that task down into smaller bites.

4. Which part is the most dreaded part? Frequently, there is a small part of the task that is really holding you back. Is it possible to get someone else to take care of that part of the task for you? Can you outsource it? Many times, if someone else handles the part you dread, everything else will fall into place.

5. Pick the best time to do it. We all have times of the day that we’re better at certain tasks. We have times when we’re better at concentrating, others when we’re more creative, and other times when we have more energy. What’s the proper time for you to tackle the task? Do you need quiet and privacy? Do you need access to certain people?

6. Get what you need to complete it. Make a list of the tools, supplies, and resources that you’ll need to both begin and complete the task. It’s hard to get started when you know you can’t get finished.

7. Reward yourself! Give yourself a reward for completing the task. You’ve earned it! It doesn’t have to be anything big, but we all like a little treat now and then. A little additional motivation never hurt anyone.

Imagine how much better your life would be if you could kick the procrastination habit out the door. Unfinished tasks have a profound effect on your sense of well-being and peace of mind. Living with the stress that procrastination can cause isn’t necessary. Start using the tips above and remove the challenge of procrastination from your life. You’ll be so glad you did!

2011-10-29T07:59:00.000-05:00

Administration Announces Refinance Program for Underwater Borrowers

10/24/2011 By: Krista Franks and Carrie Bay

The initiative involves a series of rule changes to the Home Affordable Refinance Program (HARP) to allow more underwater homeowners to reduce their mortgage debt by taking advantage of today’s rock-bottom interest rates.
Mortgages backed by Fannie Mae and Freddie Mac, and originally sold to the GSEs on or before May 31, 2009 are eligible for the program.
Under the revised HARP guidelines, the 125 percent loan-to-value (LTV) ceiling has been eliminated. Previously, only borrowers who owed up to 25 percent more than their home was worth could participate in HARP. That limitation has now been removed. The program will continue to be available to borrowers with LTV ratios above 80 percent.
The new program enhancements address several other key aspects of HARP that industry participants say have restricted its impact, including eliminating certain risk-based fees for borrowers who refinance into shorter-term mortgages and lowering fees for other borrowers, as well as allowing mortgage insurers to automatically transfer coverage from the original loan to the new loan.
In addition, Fannie Mae and Freddie Mac have done away with the requirement for a new property appraisal where there is a reliable AVM (automated valuation model) estimate already provided by the GSEs, and they’ve agreed to waive certain representations and warranties on loans refinanced through the program.

Not only are loans eligible for HARP considered “seasoned loans,” but a refinance helps borrowers strengthen their household finances, reducing the risk they pose to the GSEs. Thus, FHFA feels reps and warranties are not necessary for some of these loans.
With Monday’s announcement, the end date for HARP has been extended from June 30, 2012 to December 31, 2013.
The GSEs will release program instructions to lenders by the middle of next month, and FHFA expects some lenders will be ready to accept applications by December 1.
Since HARP was rolled out in early 2009, approximately 1 million homeowners have refinanced their mortgage loans through the program. FHFA estimates that with the revised guidelines, another 1 million will be able to take advantage of the program.
To qualify, borrowers must be current on their mortgage payments, but government officials believe by opening HARP up to more homeowners with higher thresholds of negative equity, it will help to prevent foreclosures by erasing the primary motivation behind strategic defaults.
Economists at the University of Chicago Booth School of Business estimate that roughly 35 percent of mortgage defaults are strategic. Numerous industry studies have found that homeowners who owe significantly more than their home is worth are more likely to throw in the towel and walk away from their mortgage debt even if they have the ability to continue making their payments.
“We anticipate that the package of improvements being made to HARP will reduce the Enterprises credit risk, bring greater stability to mortgage markets, and reduce foreclosure risks,” FHFA stated in its announcement Monday.
Fannie Mae and Freddie Mac also released statements in response to the announcement.
Michael J. Williams, Fannie Mae’s president and CEO, called the program a “welcome development.”
“By removing some of the impediments to refinance, lenders can more easily participate in the program allowing more eligible homeowners to take advantage of the low interest rates,” Williams stated.
Charles E. Haldeman, Jr., CEO of Freddie Mac said, “These changes mark another step on the road to recovery for the nation’s housing market.”

2011-08-27T16:06:00.000-05:00

TEXAS HOME PRICES STABLE, BUT MARKET STRESS SHOWING

COLLEGE STATION (Real Estate Center) – U.S. home prices continued a downward trend in second quarter 2011, according to the Federal Housing Finance Administration's (FHFA) home price index (HPI) results, which were released Wednesday. Texas home prices fared better, but Real Estate Center Research Economist Dr. Jim Gaines said market stress is beginning to show.

"Texas’ seasonally adjusted purchase-only HPI increased a slight 0.3 percent from first quarter 2011, the first quarterly positive change after three consecutive quarterly declines," Gaines said. "On an annual basis, the index declined 1.9 percent since second quarter 2010, the third straight quarter with a year-over-year fall.

"Since peaking in fourth quarter 2007, Texas’ seasonally adjusted purchase-only index is down only 1.6 percent compared with the national 20 percent drop. This overall drop indicates the relative stability of prices in Texas while much of the rest of the country has been struggling with significant value declines."

Gaines said Texas’ seasonally adjusted "expanded-data" index (EDI) indicated home values here declined 1.4 percent from the first quarter, continuing a trend of decline in five out of the previous six quarters. The state’s EDI fell 3.1 percent from second quarter 2010, the fourth consecutive year-over-year decline in the index.

"Still, as with the standard index measures, the overall change in Texas home values indicated by the EDI since the market peaked in 2007 is significantly better," Gaines said. "The total decline in the Texas EDI since fourth quarter 2007, when the index peaked, is only 5.6 percent, about one-fourth of the total U.S. rate of decline."

2011-08-25T06:46:00.000-05:00

2011-08-24T06:01:00.000-05:00

74 Ways to Locate Wholesale House Deals special report has been updated with even more ways to find great deals. Come get it NOW! Forward this to your friends, team members, and everyone else as well. After you read it and implement some of the ideas, give us your feedback please. Did it help you get a BIG check or get more checks? Also please give us your best ways to locate great wholesale deals that we can add to the next update to share with everyone. Get your FREE Report TODAY at www.AllWholesaleProperties.com. Go there NOW!

2010-10-21T22:21:00.000-05:00

How to Tell In Minutes If a Property Is A Good Deal!

In your real estate investing business what’s at the top of your “frustration” list? Could it be trying to determine if a certain property is a good deal not? For most investors, this dilemma causes no end of confusion and frustration. This is may be because your definition of a “good deal” may be skewed.

What makes a property a good deal? The answer is: one that has a ready buyer. As long as you have a buyer ready and willing to buy that property and there is room for your profit, then you have a good deal on your hands.

Building a list of ready buyers is the key. If there is a buyer from your pool of buyers, who is in the market for the property you are looking at – then voila! you have a good deal!

Where do these names come from? A variety of ways. Hopefully, you are a member of your local investors group. Attend the meetings and be constantly networking with every member.

Run classified ads even if you have no inventory. Ads such as “investor special” will draw the types of buyers you need for your wholesaling business. When someone responds simply tell them you have no inventory at the present, but could you call them when something becomes available. The majority will say yes.

Section 8 landlords are a great source of potential buyers. They are always looking for a good deal. Contact the Section 8 office in your vicinity and get a list of properties for rent. It’s an easy step from there to contacting the landlords. Ask if they would like to be contacted when you come across a good deal. Be sure to get all their pertinent information for future reference. Especially try to get their email address. When you have a property come available, you can send a quick email to your list as your search for your ready buyer.

The bigger and more extensive your buyers list the less time you will spend fretting over whether or not a potential deal is profitable for you or not. If you have a willing buyer who is ready to pay more than the property costs you, you now have a deal!

When you come right down to it, in the wholesaling business your role is simply to become the “matchmaker!”

********************

Visit our Site, Allwholesaleproperties.com for a Free Report Titled "74 Ways to Find Wholesale Deals."

2010-10-14T22:22:00.001-05:00

Use This Simple Entity to Eliminate Fear On RE Deals

When dealing in the area of real estate investing, you are interacting with many different parties. Depending on your field of expertise, you may be working with other investors, rehabbers, contractors, tenants, partners, lenders, property management companies and on and on. Common sense tells you that the more parties with which you are involved, the greater changes for things to go awry. Common sense should also tell you that you should take every precautionary measure available to you. One of those prevention areas involves your business entity.

If you’ve been conducting your Real Estate Investing business by buying and selling in your own name, you’re leaving yourself wide open for lawsuits (both frivolous and serious). Not a smart move in this extremely litigious society.

Keep in mind that any business entity – whether a corporation, a limited partnership or a Limited Liability Company – is set in place to reduce the liability of any one person. It’s foolish to put your own name, your own personal property, and you family assets at risk in order to run your real estate investing business.

A simple step to take to protect you and your investments is to set up a LLC (Limited Liability Company). An LLC is essentially, a mix between a corporation and a limited partnership. All partners (or "members") have limited liability and all members can participate in the management of the LLC without suffering any liability.

Because all the members are shielded from liability, consider using an LLC as your entity for holding investment real estate. The members are protected from tenant lawsuits and the equity of the members is protected from other creditors.

Setting up your LLC will also have a wide variety of tax advantages. Contact a real estate attorney or a trusted accountant to walk you through the necessary steps. This is not an area where you should cut corners. Your future business success could depend on it.

So when it’s raining you can either stand out in the rain and get wet, or you can put up an umbrella and be protected. It’s your decision.

Same with your investing business. Do you want to get soaked? Or do you want a measure of protection? If the latter, then check into the details of setting up an LLC and do it today.

2010-10-08T21:24:00.003-05:00

The Best Real Estate Investing Strategy to Use in a Down Market!

Many individuals involved in real estate and real estate investing are somewhat confused and bewildered because of all the bad news about today’s real estate market. But think about it. Aren’t there still people out there who need to sell a house? And aren’t there still people out there who need a place to live – who are ready to buy a house?

If that’s true, then the best position to be in during a down market is where you can “connect the dots.” In other words, you want to be the person who connects the buyers with the sellers and the sellers with the buyers! And you make a profit in the process. It’s called wholesaling.

Wholesaling is when you take control of a piece of real estate (in our discussion, we are referring to houses) with a set price and set terms. This is what makes it valuable to another investor. You are no doubt familiar with the types of RE investors: those who are in the Buy and Hold business; those who are in the Rehab and Retail business; and those who are in the Rent to Own business. Still others may be in the Wholesale business just like you are.

In order to make the deal attractive to all participants you will be purchasing a distressed property below market value and then make a profit by reselling it for a higher price to an investor as described above.

What does the seller have to gain? In nearly every case, it’s peace of mind. You are helping them out of their distressed situation. Behind in payments, can’t afford the needed repairs, moving and need a quick sale. Additionally, we’ve found that often out-of-town owners are looking to get out from under a property that has ceased to be an asset for them.

To find your sellers, the simple “We Buy Houses” ads work best.

You locate buyers with ads such as:

· Thousands Below Market Value

· Investor Special

· Great Rehabbing Deal

As the responses begin to come in, this is how you build your buyers list. Never throw away any contact information. You never know when you might need it in the future.

The thing that sets wholesaling apart is the speed with which the transactions take place. On any given deal, you may make a little, or you may make a lot; but it can happen at the speed of light.

So why stand around wringing your hands? A down market only means many others have been frightened off the playing field. That gives you more room to make deals.

********************

Article Resource Box (Bio):

Tim Cook is in real estate investing in spite of the so-called “down market.” It’s because of the access he has to a whole slew of tips, tools, techniques and teachings that give him the winning edge. Want to learn more? Visit: http://www.allwholesaleproperties.com

2010-09-29T20:57:00.000-05:00

NAR Hails Bill to Hasten Lender Response to Short Sale Requests: http://www.realtor.org/press_room/news_releases/2010/09/lenders_shortsale

2010-09-24T20:58:00.000-05:00

Good News for Small Business Owners: The Small Business Jobs and Credit Act (HR 5297) has passed both the House and Senate. How will the Small Business Jobs and Credit Act help your business? Go to http://bit.ly/b4q5EF

2010-08-22T13:06:00.002-05:00

THE FASTEST/SLOWEST LENDER SHORT SALE TURN TIMES:

Source? HousingWire magazine
The Quickest: GMAC with an averge of 6 months to approve.
The next Fastest: CitiMortgage with an average of 7.5 months to approve.
The next-next Fastest: Wells Fargo with an average of 8 months to approve.
LAST PLACE (SLOWEST) goes to Countrywide (Bank of America) with an average of 13 months to approve.

2010-07-25T18:10:00.000-05:00

2010-06-18T18:03:00.004-05:00

Are you looking for a good rule of thumb to use when estimating repairs for a wholesale deal?

$10 Sq Ft - General Cosmetic Work (Paint, Carpet, Small Upgrades)

$15 Sq Ft - Cosmetic + Upgrades (Paint, Carpet, Kitchen/Bath Upgrades)

$20 Sq Ft - "Gut Rehab" (Demo to Studs and Start Over)

Rehab/Materials costs will vary depending on your target market, but this is a great way to get a general feel for rehab costs, till you can get a pro out there to verify.

Remember, most Real Estate Service Companies usually charge around $125 for an Interior BPO and you can get Pest/Termite Inspection for $75. This is a relatively cheap way to get a great "feel" if you have a deal or not.

Close Some Deals!

2010-06-04T12:22:00.004-05:00

Do you want to make over $70,000 wholesaling houses over the next year? Here's the Math:

- Make 150 offers (3 per week)
- Get 1 out of 15 accepted (that's less than 7%)
- Average 7K per deal
- Deposit $70,000 in your bank account over the next year!

Making 70K a year sure beats working a 9 to 5 J-O-B. Remember to keep it simple and go make Offers.

2010-05-27T14:06:00.002-05:00

AllWholesaleProperties.com Promo

2010-05-19T19:16:00.000-05:00

2010-04-24T16:45:00.003-05:00

Earn Extra Cash through the CASH REWARDS PROGRAM. We're always looking for vacant/ugly houses to buy in Dallas/Fort Worth, Texas and we would love to pay you to help us. We'll pay you $500 to $1,000 for each home that you give us information about, provided that we are able to purchase and close on the house. That's right!

If you tell us about a house that we don't know about and that we buy and close, we'll pay you. It's that simple!

CLICK HERE to Register