Can I Operate A Real Estate Business Without A License?

May 13, 2010 By

The HAFA Program, the S.A.F.E. Act, the “Debt Negotiation licenses and so many more it is getting harder to keep track of whether or not I can even invest in real estate! Listen in as we dig into whether or not investors need to have some sort of license to have a real estate business to play in today’s real estate investing world! As listen in as we cover whether or not you can negotiate the verbiage on a short sale approval letter when they state “we reserve the right to pursue a deficiency judgment for our loss” or if it is standard for all approval letters, whether or not California Short Sale Laws are different from other states, whether a buyer can finance a Loss Mitigation Fee on their side of the HUD or if they have to give us cash in order to pay us for our service, whether or not you should list all your short sale properties on the MLS before you submit your first short sale offer and much more. Visit www.FridayCoffeeBreak.com for more real estate videos from Pat Precourt.

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Filed Under: Business, debt negotiation, foreclosure, friday coffee break, fridaycoffebreak, hafa, Industry Changes, invest, Investment, investor, license, north shore enterprises, patrick precourt, Preforeclosure, Real Estate, s.a.f.e. act

Are Short Sale Flips Illegal? Freddie Mac May Think So!

April 30, 2010 By

On this week’s Friday Coffee Break Patrick Precourt digs into the latest Freddie Mac article that states that flipping short sales is fraud! If you are investing in short sale properties or planning on it you will not want to miss this week’s Friday Coffee Break! Does this article mean that our short sale investing careers are over or it just another “blown out of proportion” Enquirer type printing? Listen in as we cover this hot topic and also how to correct write a contract so a short sale lender doesn’t ask you for your LLC’s Articles of Incorporation, where our “investor opportunity” is in the new HAFA program, how the IRS treats forgiven debt, and much more. Visit www.FridayCoffeeBreak.com for more real estate specific videos.

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Filed Under: Business, foreclosure, freddie, freddie mac, fridaycoffebreak, Investment, mac, north shore enterprises, patrick precourt, Preforeclosure, proptrackr, Real Estate, sale, short, Short Sales

Disclosure, Disclosure, Disclosure — What Exactly Do I Need in Writing to “Protect” Myself?

March 19, 2010 By

Disclosure is the number one thing that real estate investors and licensed real estate agents have to do in today’s real estate climate. When you are sitting with a seller or talking to them on the phone you have to make sure you are crystal clear on what you want to accomplish. If you are an investor “tell them” you are an investor, if you are looking to assign a contract that you have on their house “tell them”, if you want to do a short sale flip “tell them”, well you get the point! Disclose everything! On this week’s Friday Coffee Break we not only cover the proper disclosures that you need sign but we also cover what kind of language is considered “too vague” on a short sale acceptance letter, how to renegotiate a lower offer after you have already gotten a short sale acceptance letter, the important steps you need to take when you reselling a property to an FHA buyer so you DON’T screw up your deal, a clarification on the HAFA program and what investors the program covers and much more.  Visit www.FridayCoffeeBreak.com for more real estate videos from Patrick Precourt.

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Filed Under: agent, bob lachance, Business, buyer, disclosure, foreclosure, fridaycoffebreak, goals, homes, house, houses, Investment, licensed, north shore enterprises, patrick precourt, Preforeclosure, Real Estate, real estate agents, realtors, seller, short sale, Short Sales