2 Real Estate Investing Secrets
Issue #2198
- WEALTHY: How I made $180,510 in a single month (Marko Rubel)
- HEALTHY: Slow down age-related memory loss (Dr. Jonny Bowden)
- WISE: William James on attitude
ALSO IN THIS ISSUE:
- Get control of your schedule (Michael Masterson)
- What if your product isn’t as good as your ad makes it out to be? (Clayton Makepeace)
- It’s Fun to Know… a few interesting things about planet Earth
- Add "Promethean" to your vocabulary
Welcome to the Turning Point in Your Life
How can it be a group of people in the same city, with the same education, upbringing, bank balance and opportunity make riches beyond their dreams, and others don’t??
Answer: They used a system… a set "proven" process which set them apart.
Want to know what this system is?
They followed a set of simple instructions which made money automatically come their way… money was attracted to them like metal to a magnet long BEFORE they became wealthy.
It was following these simple instructions I now call "The Billionaire Way" which gave ME an unbelievable ‘piggy-back ride’ from a simple insurance sales guy to founder of the world’s first TV shopping network.
"Act as if what you do makes a difference. It does."
William James
2 Investing Secrets That Quadrupled My Real Estate Income
By Marko Rubel
When I started buying foreclosures, I typically closed only one out of every five deals. Today, it’s closer to four out of five. The secret is really two secrets:
- I learned all the options a seller in foreclosure has.
- I mastered the art of positioning myself as the best of those options, getting the seller out of foreclosure with minimal damage to their credit rating.
This may not seem like much for you to do, but I assure you it’s made a major difference in my bank account! My six-figure income shot up to $1,348,000 in a single year. More recently, these secrets helped me make $180,510 in a single month. Here’s how it works…
Before you meet with an owner, it’s crucial to fully understand all the ways they can get out of foreclosure. Every owner facing foreclosure has the following options:
- Reinstatement. The owner cures the default by coming up with his own cash or taking out a short-term loan. Keep in mind that the owner has to pay more than the total of his missed payments. The amount owed also includes attorney fees and other fees charged by the lender (filing fees, etc.).
- Sell the property. The owner can sell the property any time before the foreclosure sale. This is often risky, because deals can fall through or prospective buyers may not qualify for the loan.
- Refinance. The owner can refinance the property with a new loan that pays off the loan in default. This can be difficult if the owner is behind in payments.
- Deed in lieu. The owner can deed the property directly to the lender (essentially giving them the property). Then the lender doesn’t have to go through the foreclosure process.
- File bankruptcy. This will stop the foreclosure in its tracks, but only until the lender obtains a release from the court. If the owner can’t make up the back payments as part of a reorganization plan, bankruptcy just delays the inevitable. Once the stay is lifted, the foreclosure process will continue.
- Let it go and hope to get something when it sells. The owner lets the foreclosure proceed. He receives anything above the opening bid after all the junior liens are paid off. In most cases, that’s nothing.
- Walk away. The owner allows the lender to proceed with the foreclosure. This may be an economically valid alternative if he has little or no equity. But the damage to his credit rating will last for 10 years or more.
So those are the alternatives available to sellers in foreclosure. Now, let’s look at strategies to get the deal done.
First, I do my homework. I want to make sure the property’s a great deal and decide which exit strategy I’ll use if I acquire it. Next, I call the owner. I ask for permission to visit the house when all the people on the title are there.
When I arrive, I introduce myself and ask for a tour of the property. I look for pictures of children or anything else that I can talk to them about to break the ice. I also let them talk as long as they like about how they got into their current predicament. I listen. I display empathy. I tell them they are not to blame, and assure them that bad things happen to good people.
At the end of the tour, I sit down with them and ask them to restate the facts. Then comes my first crucial question: I ask what they would like to do. What the best outcome of our meeting would be for them.
In the negotiation that follows, I review the options detailed above. And I explain why selling the property is the best one. (Here’s where knowing all the options gives you a strong bargaining chip.)
Once they realize that selling is their best way out, I tell them about my company and how I might be able to help them. In most cases, they have already seen my credibility-building website. (It includes about a dozen video testimonials from people I have helped.) I also remind them that I have seen other homeowners earlier in the week, that have more appointments scheduled - and that I never take on more than four clients per month.
I work from a memorized script that continues to plant the seed that I’m their best option. I show them how I will make up the back payments on their loan and immediately improve their credit rating.
When we have agreed on the terms of the sale, I introduce the concept of acquiring the property on a "subject to" basis. This basically means that I’ll continue making payments on their loan, further increasing their credit score. This minimizes any future objection to taking over the loan while it is still in their name. It also saves me a lot of money on the deal by eliminating middlemen like banks and realtors.
Then it’s a matter of agreeing on simple things like the moving date, closing date, and so on. I review all the terms one last time. Just before I produce the purchase agreement, I say that it looks like I will be helping them… so the people I was supposed to see tomorrow are out of luck. (This helps me handle any "We’ll think it over" objections should they arise.)
After the paperwork is signed, I congratulate the owners for taking action and doing the right thing. I’m happy for them - and I show it!
[Ed. Note: Marko Rubel is a multimillionaire real estate investor living and investing in the Phoenix, AZ area. Tomorrow, November 14, Marko will reveal exactly how you can put $20,000…$30,000…$50,000 or more in your bank account every month using an automated system that does all the time-consuming "busy work" of foreclosure investing for you. Participation to this exclusive online presentation is limited, so click here to secure your spot today.]
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Plus, as our way of saying “thanks” we’ll give you 3 FREE (no strings attached) Health Reports valued at over $59 including “Never Get Sick Again”… “10 Foods That Stimulate Your Sex Drive (and 10 That Don’t)”… and “How to Handle Stress to Live Longer and Healthier.”
How I Stay Focused on the Important Work
Urgency is determined by deadlines. Importance by benefits.
If you want to change your life in a dramatic way, you’ve got to get control of your schedule. It’s the only way you can do mostly important (career-boosting) work instead of what has to be done immediately.
Today, with modern communications - and especially with e-mail - we are bombarded by insignificant urgencies. Here are some tricks I use to stay focused on what’s truly important to me:
- I do at least one important task every day.
- I devote the most productive part of the day (when I have the most energy and can apply the most concentration) to my priorities.
- I make it a practice to ask myself, before beginning a task, "Is this really important?" If it isn’t, I figure out a way not to do it.
- I constantly remind myself of what is important every day and every week and every month by using the ETR goal-setting system. Click here to learn more.
[Ed. Note: Get Michael Masterson’s insights into becoming successful in your business and personal life, achieving financial independence, and accomplishing all your goals on his new website. You’ll find updates on all of Michael’s books, news on upcoming ETR events, Michael’s blog, and room to send in your comments and questions. Check it out today.]
Don’t Lie or Cheat
I once had a client who tried to get richer quicker by tricking his customers. His promotions (which I wrote) promised that the rare coins he sold were of an extremely high quality and likely to soar in value.
What I didn’t know was that the coins he shipped were of a much lower grade than we were claiming in our sales copy. A massive violation of the law.
And there wasn’t a snowball’s chance his customers would ever make money on them.
Lucky for me, a friend bought our coins and had them appraised independently. And as soon as he saw the results, he called to tell me what was going on.
So I quit. Within six months, state and federal regulators had driven the guy’s company into bankruptcy. Within a year, he was headed for the pokey on fraud charges.
The Moral of the Story: If a product you’re promoting isn’t as good as your sales copy says it is, improve it. If you can’t make it live up to your copy, change the copy. If you can’t succeed with diminished claims, abandon the product altogether.
[Ed. Note: Clayton Makepeace has spent the last 35 years creating direct-mail, Internet, and print promotions that have sold well over $1 billion worth of products. He publishes the highly acclaimed e-zine The Total Package to help business owners and copywriters accelerate their sales and profits. Click here to check it out.]
Give Your Memory a Boost with 2 Antioxidant-Packed Fruits
With a combination of high antioxidant ratings and low glycemic impact, berries provide a remarkable nutritional wallop. But there’s one more reason to eat your fill of blueberries and raspberries. They can help keep your memory sharp.
- Blueberries are the ultimate memory food. Research at the USDA showed that daily consumption of blueberries dramatically slows the impairment of memory that usually accompanies old age. Compounds in blueberries called polyphenols actually help "turn on" signals that let neurons (brain cells) communicate with each other.
- Compounds in strawberries help protect your brain and preserve your memory. In a study published in the Journal of Neuroscience, animals that consumed an extract of strawberries, spinach, and blueberries every day had significant improvements in short-term memory. They learned faster than the other animals and their motor skills improved significantly.
To get the benefits of berries, pop a handful as a snack, add them to homemade smoothies, sprinkle them on oatmeal, and even eat them frozen. (They taste like little balls of sherbet.)
[Ed. Note: Dr. Jonny Bowden, a nationally known expert on weight loss, nutrition, and health, is the author of the best-selling book The 150 Healthiest Foods on Earth. For more information, go to www.jonnybowden.com. To read more of his articles on healthy living in ETR’s new natural health e-letter, click here.]
It’s Fun to Know: A Few Interesting Things About Planet Earth
Here are a few interesting facts about planet earth:
- An estimated 1,000 tons of space dust fall through the atmosphere to the Earth’s surface every year.
- The Earth is not a perfect sphere. It has been described as more pumpkin-shaped because of a bulge in the middle that grows and shrinks.
- The distance from the surface to the center of the Earth is approximately 3,963 miles.
- The largest volcano in the world is Mauna Loa in Hawaii. It rises 9.5 miles above its base under the sea.
(Source: LiveScience]
The World Is Shrinking… and the Opportunities to Make Money With This “Global” Economy Are Nothing Short of Staggering! If You Know How…
Imagine how well your business would be doing if you could slash your costs by more than 49% while boosting your profits by more than 57%.
You can do it… if you know how.
Today, as a matter of fact, all the Fortune 500 companies are doing just that, and they’re posting record-breaking profits by taking advantage of the “Global Economy.”
Unfortunately until now, only big companies could even think of doing this. But not anymore. Now it’s your turn.
Click here to find out how you can put the “Global Economy” to work for you.
The global borders are shrinking… The world’s becoming a smaller place… Will you just stand there watching opportunity go by or will you seize the moment and put the “Global Economy” to work for you? Click here to read more…
Word to the Wise: Promethean
"Promethean" (pruh-MEE-thee-un) means boldly original or creative. The word is derived from Greek mythology. Prometheus ("forethought" in Greek) was the Titan who stole fire from the gods and gave it to mankind.
Example (as used by Arthur and Barbara Gelb in O’Neill: Life With Monte Cristo): "Three years later, he [Eugene O’Neill] became the first American playwright to achieve the Nobel Prize for Literature and was embraced as Broadway’s Promethean emblem."
[Ed. Note: Become a more persuasive writer and speaker … build your self-confidence and intellect … increase your attractiveness to others … just by spending 10 VERY enjoyable minutes a day with ETR’s new Words to the Wise CD Library.]
Michael Masterson
Copyright ETR, LLC, 2007