Is it me or did we come terribly close to being in 1929’ on March 16, 2008. For those who are not aware (and many are not) Bear Stearns is an investment Bank a securities trading and brokerage Bank!

Bears Stearns recently agreed to a merger with JP Morgan Chase in part to save their butts, but in another way it was to save the US economy!

In an unprecedented act, our government gave BS a non recourse $30 Billion loan. A non recourse loan simply means a loan for a certain collateral. If the loan goes belly up only the collateral is seized personal assets are not).

What did this really mean???

Understand this! Bear Stearns is directly connected to almost every Major Bank Globally. BS is one of the largest underwriters of mortgage loans and a controller of Numerous Hedge funds. We all know what’s been going on with the Real Estate market in recent years. Who do you think underwrote most of those loans???

Many of our Nations Pension funds, 401K funds and savings funds were housed in Bears Stearns’ Hedge funds. Can you imagine waking up on March 17 and finding out that your pensions or 401K accounts were now non-existent!?

What would you have done? What would many Americans have done?

What did Americans do September 3, 1929?

The strange thing is that most Americans were unaware of the importance of this day or it’s events. Very few of my friends and associates even knew who Bear Stearns Co. was?

Even the Media gave it second fiddle to reports of the Democratic War of Words for the day.

America has to get a hold of this mortgage crisis and soon! I’m tired of our government stating that it’s going to work itself out. I can’t imagine how?!

I’m not usually pushing Government intervention, however It’s time to solve the problem and stop worrying about who’s at fault!

At this point, It really doesn’t matter...

In an unprecedented move, Massachusetts state court ruled to stop all foreclosures preceding against Fremont Mortgage based out of California.



The court ruled that Fremont had approved many loans that were designed to make the loan holder fail. Also known as Preditorial Lending!



The objective is to allow the homeowners time to develop a possible solution to their obvious plight.



I for one Salute the Great State of Massachusetts for taking a stand. And for at least having the nerve to go against these BIG Business!



It appears if Americans are going to get out of this New crisis it will have to be on a smaller scale of government. It's time for our community leaders and state Governors to do the job we all voted them in office to do.



Protect Your Constituents!

I am perplexed why a Realtor of a sound mind would get into the business of Short Sales!? When did they start teaching this in Real Estate Agent Schools? It was my belief and the belief of many that Realtors were graduating from a long classroom experience or online boredom to get listings! What kind of listing is an over leveraged, seriously behind on mortgage payment and in many cases in severe need of upgrades or repairs client? When did that description become the main menu of choice? I know Realtors in Manhattan or L.A. aren't looking for that…..or are they? And if that is what Realtors are looking for (in regards to listings) I have this great peace of land for sale in the Everglades!

Don't Realtors know how hard and long the short sale process can be. Don't they know that even if you get an acceptance letter, the buyer many times just tries to re-negotiate because they were so surprised that the lender said yes? How in the world do Realtors have time to be on the phone with lenders while getting new listings, showing houses and walking contracted deals to the closing table? Haven't Realtors heard that lenders love knocking down their commissions to sometimes 2%? Yes, there is a surplus of Real Estate Agents in our country. But, maybe…perhaps…this is a great time to become a Realtor. With so many caught up in the Short Sale hype, surely you can beat them to the punch and land many of the qualified clients looking around to find a great Realtor. I used to be able to look outside my door and find one driving by, now they're nowhere to be found (again they must be on the phones). I've even heard a Realtor tell me that only a Realtor can negotiate a short sale. That would be news to thousands of great companies and lawyers that help clients work out a qualified Short Sale agreement everyday with their lender. These companies are built to handle the many difficulties thrown at you in lieu of a short sale agreement. I recommend working with these companies. Some are non-profit and many charge a fee for services. You need to research the one you are looking to choose to make sure they are reputable and have moral principles. And if you are choosing a Realtor make sure this is what they specialize. The plain truth is (and I'm sure most of you will agree, even if under your breath) that if you had a choice to place you attention and manpower on a short sale listing or a arms length transaction listing….You'd do the math? And there's the point of how many Short Sale files can one Realtor handle in the course of a month or year? If you looked at the money you made on each successful short sale closing and divided by the hours you spent working the deal? Was it worth it? In 2008 I believe you will see a vast decline of Realtors working Short Sales. Many agents I know have already decided against clients who don't have enough equity in their home to pay for a commission in the first place.

I realize this read will cause an uproar in the Real Estate Agent community and I realize I'll not be liked (I'm not even sure if I'm liked now….?) but I'm trying to save you not hurt you!!! I need you guys selling those great PRETTY easy to sell (because they make sense) deals. I'm saving you from dealing with those Big Bad investors that are going to low ball you (because they know how screwed up the lending industry is) so badly on each deal the lender is forced to throw the dice on REO. Heck, you know as well as I do that they can probably pick up the deal much lower as a REO than as a Short Sale. All they have to do is wait out the lenders. There sooooo much inventory they can afford to. I know I have!

By the way, some of my best friends are Realtors!

 

The question has come up time and time again. Why are there so few "Women" R.E.I.? Before you comment I'm not talking about agents, brokers or consultants. I'm speaking about those valiant women who title themselves fulltime Real Estate Investors. There no denying there are more men Investors than women. But, what is not so clear is why? I'd like to open this forum up to your opinions. Try to contain yourselves and speak with honesty not emotional vibrato.  Here are some facts. Surveys have found there are fewer than 30% women to men investors nationwide. Women have only in the past half century been openly invited into male dominated arenas. There are a growing number of single women households. In the past the male was the negotiator of what investments the family would brave the risk factors.

 

"Nuwire" ran an article recently stating many women all over the country would like to become r.e.i., but many don't know how to get started. Some lack knowledge, some know they lack knowledge but in return lack the confidence. I've done a little homework myself and here's what women I've asked are saying…

 

1. women don't like risk! Women like things they can control. Investments can be an intangible and are not always bound by a set of rules.
2. women feel like men in the business don't take women seriously
3. men, in working with women won't give them the better deals and will always try to take advantage of them
4. women feel they have to be liquid to become r.e.i
5. if they are to be in the business, they are mostly teamed up with groups or partnerships
6. men are more of the adventurous exploration types (investing falls in this category)
7. women hate or just don't know how to deal with property management issues
8. don't feel respected in the industry
9. don't have many role models to follow (other successful, highly visible women) We men have "The Donald"!
10. what's the point?

 

Let me say that the trend is changing. As Sam Cooke sang "A change gone come"! The trend (22%) more single women are buying homes for themselves where once they would wait until marriage. More and more women are stepping outside the box and are exploring new ways for independence. It is the purpose of this article to try to understand the doubts, fears or frustrations of women who would venture out into r.e.i or who have already took the leap of faith. Also, I'd like to hear the views from the men viewers on whether or not they think this is an issue at all?!

"Mr. Short Sales Book List for success"

I am often asked what books to read in order to work on success in a life time. I first want to say one can find many sources of inspiration and there are thousands of worth while books out there. However, I'll try to list books that I've come across throughout my 10 year journey. Keep in mind success is a lifelong journey so we all have to continue to build our minds just as we do our bodies.

"The Classics"-These are books that almost need not be mentioned. Books like,
(Think and Grow Rich, Richest Man in Babylon, Who Moved My Cheese, 7 Habits of Highly Effective People, Rich Dad, Poor Dad & Cash Flow Quadrants, etc...) and on the list goes! Yes I would recommend these and many more of the so called classics. Its what I would call standard reading, the 101 of getting your mind conditioned for the pathway to success.
However, allow me to veer off along a narrow path a bit and recommend a few books that many of you will see and shake your head in agreement, others will scratch your head and say…I've never heard of that one? So we'll begin…

1. Your "Spiritual Guide"---what ever that GREAT book should be! I'm a insatiable reader, so I've read most "religious texts" and all of them at some point emphasize 2 things. Faith and Action! Without the 2 you'd be lost anyways, so I recommend you dive into whichever book you hold as your spiritual guide. After all, all of these other books only copy what is already spoken in them eons ago!

2. Financial Success by Wallace Wattles--- This book is only 93 pages in text, yet it packs a punch and gets to the point. Written in the 70's it speaks on the principles that "The Secret" brought to the forefront a few years ago. An excellent book on developing your mind "First"!

3. The Art of The Comeback by The Donald---Most people speak on "The Art of the Deal" however I appreciate this book mainly because Trump has a perceived edge in this story. Now those who decide to read Mr. Trumps books need know his philosophy is to WIN at all costs! He speaks about his failures and mistakes in the book. I always note if The Donald can fail at real estate any one of us less established "gurus" lol can easily bite the dust. Read how confidence and the will not to give up are invaluable! Also, he touches how having a strong willed woman by your side is not the worst thing a person can have!

4. The 48 Laws of Power by Robert Greene--- Wow, I remember when this book was ssssooooo hard to find. Recently, it's the book of the year. Make no mistake it's been out for a while (10years). The principles of this book go back to the beginning of time. Or at the very least, the beginning of the Renaissance Period. The book can become overwhelming if you are determined to master and practice all 48 laws. Some of which you would never need to use given most peoples state. Also, it's a bit cutthroat in it's directives. Remember the people who mastered these "Powers" either mastered them or perished. We now merely practice them as a leisure function. Nevertheless, It's a powerful read that you can study for many a moons!

5. The E-Myth by Michael Gerber---If you want to stop being a "Self Employed" Entreprenuer and become what Robert Kiyosaki speaks much about….A Business Owner then this book is a must read. When I first started my first company a decade ago it went under almost a quickly as it began. I then decided to get a mentor and this was the first book he had me read. It changed all the theories on starting my own business I thought I knew. It is the reason why my company is a success today! No it wasn't my brilliance…LOL


These are 5 reads not in any particular order that I'd like you to consider. They are also books that you'll need to read many times, because each time you'll get something you missed the previous time through. Come back and see what I have for you for my next 5 works of wisdom! Remember, what Thomas Jefferson once said " I can not live without books".

"Books are the collective greatness within all of mankind to express our individual Divinity". Klarque Garrison "Mr. Short Sale"

We Need Your Voices

We Need Your Voices!!!

Our aim is to hear voices and gain knowledge and a new insight to a reality that is at our Nation's front door. Please feel free to Network, give your opinions and learn as much about the Industry. First, we will look at how as investors we can assist the community and lenders in the tremendous flux of Non-Performing assets. Second, discover how your business can grow and prosper while in the heart of a Crisis! Just follow the link below and "join" the group. See you there!

Here's to a Great New Year

http://finance.groups.yahoo.com/group/shortsalesinstitute/

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Thank you Taylor 1 inc and staff for caring! Because of your caring and efforts I am able to move on with my life without a foreclosure hanging over my head!!....  Stacy Mathews-Atlanta, Ga.

 

I don't know how you did it but you did. My wife and I would recommend you to everyone as we already have…. Michael Gavrilovic-Willingboro,NJ

 

There has been such a huge weight lifted off our shoulders, we can now move forward with our lives thanks to Taylor 1 and your relentless efforts to save us from falling victim to foreclosure.... Dora & James Sheppard-Deerfield Beach, Fl

 

The staff at Taylor 1 have held my hand through the entire process which took almost a year to resolve. Thank you and continue to help others as you have helped me…Sofia Comella-Upland, CA