The Investors Edge University Blog

What Is The Mortgage Forgiveness Debt Relief Act?

2009-04-23T00:55:00.001-07:00

The act allows you to walk away from a foreclosure free and clear. The bank forgives the potential income you would get with a 1099. It is meant to be used on your primary residence so it will not help an investor with multiple properties.

What does that mean?

When the bank accepts a short sale or sells your property for a loss and sends you a 1099, you are supposed to claim this income on your tax returns. When claiming this as income, the new act allows the debt to be forgiven – meaning you don’t owe taxes on it. This is an amazing statue. There has never been anything quite like it before. So, if you have to loose your house, now is a good time because you can truly start over.

Does the Mortgage Forgiveness Debt Relief Act of 2007 apply to all forgiven or cancelled debts?

No, the act applies to your primary residence only. Again, anyone with multiple properties will not qualify for this exclusion.

What about refinanced homes?

The act applies to properties that have been refinanced with some exceptions. You can only be forgiven the orginal amount of the loan. For example - you have a property where you owed $150,000 dollars and then you refinanced it for $200,000 dollars, pulling out $50,000 dollars profit. Only the original amount of $150,000 dollars would qualify under the new act. If the bank sold the house for $125,000 dollars, $25,000 would be exempt and you could be sent a 1099 for the $50,000 dollars that you pulled out of the house. It is considered profit even though you lost the house to foreclosure.

Does this provision apply for the 2007 tax year only?
Currently, this bill will apply to the 2007, 2008, and 2009 tax year. Once it is reviewed, it might stay in place longer. In the current market, walking away from a house is a solid option because you can be forgiven the debt. In the past, most homeowners suffered a deficiency or a 1099.

If the forgiven debt is excluded from income, do I have to report it on my tax return?
Absolutely. You must report the amount of the debt. As we said earlier, it is important to use a tax accountant to file your taxes the first after a foreclosure or deed in lieu. You will use form 982 and attach it to your tax return.

The Benefit of Private Mortgage Insurance

2009-04-23T00:47:00.000-07:00

“Private mortgage insurance” is paid for by the borrowers and made part of their monthly payment. Many homeowners believe that this insurance is a benefit to them in case one of the owners dies during the loan repayment period.

PMI insurance is protection for the lender.

When a mortgage goes into default that is insured with PMI, don’t walk away. Follow the same short sale procedure as FHA and VA and see what happens. Unlike FHA and VA, the percentage amount of the PMI insurance paid against the current value can be negotiated, therefore creating a great short sale.

PMI only covers the top 20% of the loan. For example, if a property has a $100,000 mortgage balance and it has PMI insurance, in the event of a default, PMI pays the bank just $20,000, the top 20%. If you can get the PMI company to work with you, they don’t have to pay the claim. The claim kicks in at the sheriff’s sale or the final point of default. PMI can be very helpful when faced with a way out of paying a claim.

When a property is vacant it is more difficult to get FHA or VA (or any bank for that matter) to accept a short sale. Your defense is to have the homeowner’s explain in their hardship letter that they could not afford the house, could not afford the repairs, did not realize another alternative existed, thought that when they were served the foreclosure papers it meant the bank already owned the property, etc., and that is why they moved. In many cases, this will solve the problem.

DOES A HOMEOWNER STILL OWE THE BANK MONEY AFTER A SHORT SALE?

That is a good question. When you negotiate a successful short sale, keep in mind that the agreed upon price is payment in full.

However, the homeowners may still owe the difference between the mortgage balance and the discounted amount via a “deficiency judgment.”

If granted, this judgment will affect the homeowners and their credit report just as any other judgment. You must get the bank to agree to accept “payment in full without pursuit of any deficiency judgment.”

In addition, you need to explain to the homeowners that the discounted amount (the difference between the mortgage balance and the short sale) may be declared as income on their income tax return by means of a “1099.”

The homeowners can speak with their accountant for advice. Since the homeowners have been in such duress and probably haven’t made much income, a 1099 may not adversely affect them.

The best way to deal with a 1099 is to consult a tax accountant and see what can be worked out. In many cases, you might not owe anything. An accountant may be able to file “insolvency” or get a “one-time homeowners exemption” or use your “adjusted basis” for write offs.. If you qualified for any of these, you would be off the hook.

If you suffered loss if income, are going through a divorce, had a mortgage payment that reset to an unaffordable payment, or anything along those lines you may qualify for insolvency. You are considered insolvent when your total liabilities exceed your total assets. It is not that difficult to qualify for insolvency when you have had a foreclosure and may be a perfect solution to your problem. Remember, we are always going to ask the bank to waive the 1099, this is worst-case-scenario stuff.

If you lost your property in foreclosure or short sale, and you did $40,000 dollars worth of work on it (and had receipts to prove it) the IRS would take the $40,000 dollars off your taxes against the $60,000 you owe and you’d owe taxes on just $20,000 – this is a sample of what “adjusted basis” means.

As you can see, there are many options when receiving a 1099. This is why you must use a tax accountant to file your taxes the first year after losing a property in distress. If you simply sell your house for a profit, then you would owe taxes on the profit earned. It is still a good idea to work with an account as you may have adjusted basis write-offs that you are not aware of.

DEALING WITH LOSS MITIGATION

2009-03-27T19:27:00.000-07:00

DEALING WITH LOSS MITIGATION

Believe it or not, loss mitigation reps can be very difficult to deal with. The key to success is to pin the rep down as to when you can expect an answer.

If you are dealing with a bank for the first time, you may want to call loss mitigation to confirm that they short sale before you spend time preparing the entire package.

Most of the larger banks do short sale:

Washington Mutual
Bank of America
Wells Fargo
Country Wide
First Union
Fifth/Third and so on.
Option One
Ocwen
First Franklin
Fairbanks
Litton Loan Servicing

There are many more. The problem with calling the bank first is that you may get a new person who has no idea what a short sale is and tells you no, when, in fact, the bank does short sale. We prefer to prepare the package, call loss mitigation, and ask who we need to fax the package to in order to get our deal accepted. We just assume that all banks will say yes.

Most banks do say yes to some sort of a short sale. If you have a property worth $100,000, with a $100,000 mortgage balance and the bank accepts $90,000, the bank considers that a short sale. It’s just not a short sale we would accept.

If the bank does not have a loss mitigation department, ask for the foreclosure department, work out department, loan modification department, late payment department, bankruptcy, or who ever helps homeowners in distress.

Give the seller’s name and loan number and ask for the representative who is handling the seller’s account. Once you have the right person on the line, ask for the fax number and fax the authorization to release while you are on the phone with the rep.

Before you begin dealing with the loss mitigation reps, we think it is important you understand the mind-set of this person. Most of these folks are overworked and underpaid. Some reps have as many as 500 files on their desk at any given time. Because these reps are so overwhelmed with their case loads, they often blow you off on the phone if you don’t appear to know what you are doing.

There are several ways to represent yourself to loss mitigation:

As a friend - You could represent yourself as a friend trying to help. The problem with this approach is that the rep may think you have no experience and may not want to bother with you. On the positive side, the bank may like the fact that you are not a smooth talking investor.

As an investor - As an investor the rep may think you are out to take advantage of the homeowners as well as make a killing from the banks loss. On the positive side, the rep may like the fact that you have experience and will be less trouble than someone with no experience. The fact that you can close quickly is also appealing.

As a real estate agent- As an agent the bank looks at you like a neutral third party, but may not have the confidence that you will follow through without a buyer as agents show houses, not purchase them. On the positive side, the bank may take your offer more seriously because you are an agent and are considered a professional.
You have to decide in which role are you most comfortable. We use all three with great success. There is no right or wrong way to present yourself.

The key is let the rep know that you are easy to work with and will make the transaction as smooth as possible.

When speaking with the loss mitigation representative, always be professional and refer to the sellers by their first names as often as possible.

Bring as much emotion into the conversation with the rep as possible.

This will hopefully help the decision to accept a short sale become more meaningful rather than just financial.

Once your package is submitted, follow-up until you get a yes.

The Investor's Edge University Membership Site

2009-03-24T17:53:00.000-07:00

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2009-01-28T23:45:00.000-08:00

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2009-01-25T19:42:00.000-08:00

Hi Friends,

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When you date someone - you use communication skills
When you apply for a job - you use communication skills
When you travel - you use communications skills
When you speak to homeowners - you use communication skills
When you work short sales with the banks - you use communication skills
When you raise children - you use communication skills
When you go to the doctor - you use communications skills
When you attend parent/teacher conferences - you use communication skills

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Communication Mastery

2009-01-21T23:43:00.000-08:00

Hi Friends,

What a crazy way this year is starting … we are in Iowa and all temperature records have been broken this week. It was actually 29 BELOW zero! BELOW….without the wind chill factor!

How cold is that?

I was standing outside today and my tennis shoes froze to the ground
My nose hairs froze when I walked down the street
Our training center had ¼ inch of frost on the INSIDE!

It's been a crazy week. How has your year started?

The good news for investors is that there are record numbers of foreclosures. It is expected that over 500,000 mortgage payments will reset soon. That is another 500,000 who may not be able to make the new, higher payment.

That means more homeowners who need a fresh start and will welcome the help of an experienced, caring investor - YOU!

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We have all kinds of students who braved the cold to learn…what's your excuse? I find that most investors who complain that they aren't making money either take too many classes and are all over the map or they don't do what their mentors tell them to do.

Friends - if you follow a PROVEN system, you will have the same results. That is why it is called a PROVEN system - it works over and over again.

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This week we are going to discuss - COMMUNICATION MASTERY. I realize that fine-tuning your communication skills may not sound like an exciting topic, but we promise to make it fun! Do you realize that your communication skills make or break your deals? Talking to banks and homeowners is your KEY to success. People who can't negotiate, can't make money in real estate, especially in a tough market like this.

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Knocking On Doors

2009-01-20T01:23:00.001-08:00

One of our favorite methods of finding foreclosures is to knock on doors. Many homeowners will be surprised to see you because they do not realize their pending foreclosure is public knowledge. Once they are past the shock, get busy. The key to successful negotiating is how you handle the initial confrontation. I have heard many horror stories from homeowners who say an investor knocked on their door, offered them $100 for their deed, and told them they would need to move out as soon as possible. Folks, this is not the way to do it! Distressed homeowners need a shoulder to cry on.

We begin our conversation by telling them that we were at the courthouse doing some research and saw that there is a pending situation with their property. Most homeowners then say, “Oh, we took care of it.” Trust me - they did not. Ask them if they “filed an answer.” If they say no or give you a blank stare, they did not take care of it. (Once a homeowner has been served the Lis Pendens, they have twenty days to file an answer with the court.) Nevertheless, that is another story we do not have time or space to go into.

Next, ask them what they plan to do. Do they intend to keep the house, refinance it, or sell it? Most homeowners are initially in denial and do not believe the bank will actually foreclosure on them. That is why we begin by talking about ways to help them keep their property. Once you have opened the lines of communication, they will begin to tell you what happened and why they are in foreclosure. For most folks it is their first time being in trouble and they want to be sure you do not think that they are losers. This is the time to open your heart and listen with a sympathetic ear. Agree with them when they tell you how rotten their husband or wife is, or how that awful boss fired them. You are becoming their ally and establishing a relationship.

At this point, it is time to get to work. Sit with a pen and paper and put in writing the work needed to bring the property to marketable condition. Many times homeowners do not see the messy house, or notice the green kitchen and blue bathrooms because they have been living there for so long. Gently show them what needs to be done to update their house and how much it will cost. Show them where they have spent their equity because they did not fix or update things as needed. Once the homeowners see it in black and white, they are much easier to deal with. Negotiate your best deal and make it happen.

Never, ever put a distressed property under contract unless you plan to close on it, even if you cannot flip it! Do not make a bad situation worse. The goal here is for you to get a great deal as well as to help someone out of trouble who really needs you.

It can be very satisfying to help a distressed homeowner. With the right attitude, knocking on doors just might become your favorite method of finding properties as well.

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2009-01-12T18:48:00.000-08:00

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Fed Up Package

2009-01-07T23:25:00.000-08:00

Happy New Year! We trust you had an amazing Christmas and New Year. Did you make your resolutions? When I was much younger, I used to make so many New Years' resolutions. Unfortunately, I rarely kept them. I think people should make resolutions they can keep. Most people make the same few resolutions every year…

* Lose weight
* Quit smoking
* Work out more
* Spend less time watching TV

and things like that…

What would work is to make a resolution to gain 20 pounds, smoke two packs instead of one, never go to the gym…in fact…don't even drive by one, watch more TV than ever before…

Now those would be easy to keep .

What I would like to see you do is to write some basic goals and email them to me. Make sure they include the five equities of life - spiritual, financial, family, physical, and mental. Write a few things in each category, post them where you can see them, read them every day, and make them happen.

One of our goals is to help you get through this economic mess and come out on top. The economy is going to get worse this year, so you need to be prepared. 2008 was a mess and 2009 won't be much better. We are not trying to sound like naysayers, but reality is reality and we need to prepare. Chance favors the prepared mind.

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2009-01-05T07:26:00.000-08:00

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Common Newbie Mistakes

2008-12-18T05:32:00.000-08:00

I remember the excitement of being a new investor. I was so excited that I wanted to buy every deal that came my way. The excitement of “the deal” can get you into trouble. Because of that excitement, many new investors don’t always look at the deal from an objective viewpoint.

I think one of the biggest mistakes new investors make is that they want to rehab the property themselves to save on the rehab costs. This is fine if you have the skill, the tools, and the time. Unfortunately, what I often see happen is that new investors try to work on the property on weekends and in their free time. BIG mistake! Picture this, you worked hard all week and now the weekend is here and it’s time to work on your new rehab project. The first weekend is so exciting. You see such great results after the end of the weekend that you can’t wait until next weekend to do it again. The next weekend comes and you’re tired, but it’s time to work on the house. You sleep in late on Saturday and end up putting in a half-day on Saturday and full day on Sunday. You still see results, but you are tired and have to go back to work in the morning. The third weekend comes and now you’re really beat from no time off for three weeks. You sleep in Saturday and work on Sunday. As each weekend passes, less work is being done. Soon you are either exhausted or going every other weekend. Now several months have passed and you are making extra hard money payments, your property is still not finished, and you are beat. What did you save? Nothing! It would have been cheaper to hire a crew and pay them as opposed to making extra hard money payments and burning yourself out. The worst part is...your property is still not sold!

Another mistake I often see is investors collaborating with people they don’t really know because they don’t have the money to do the deal themselves. Just because you meet someone at one of the investment clubs, does not mean that person needs to be your partner. Take the time to investigate anyone you may be thinking of collaborating with. Call a group leader and ask for a reference, ask the person for bank statements, go to the courthouse and see if they truly are buying and selling properties. Do your due diligence now, draw up a detailed partnership agreement (be sure to discuss loses), and pray for the best.

How about overextending your self? I see many new investors who have a few dollars saved, but more than one property. Unless you have a lot of carrying money and free time, this can turn into a bad situation...fast. Do you have the time to oversee several crews, do you have the time to take all the ad calls, can you show the house everyday and then do open house on the weekends? Be careful not to get so excited that you buy everything you see.

Until you have some first-hand experience, stick to one deal at a time, hire someone to do the rehab, and when the property sells, and buy another. Being an investor is a great way to earn a living, just be cautious.

Painting Shingle Roofs

2008-12-16T17:17:00.000-08:00

Painting shingle roofs? That’s right... painting shingle roofs. I am sure all of us have painted at least one tile roof, but have you ever painted a shingle roof? Most investors do not think about it. They usually just pressure clean the roof in an attempt to improve its look.

How many times have you bought a property and the roof looked terrible? What are your options? No prudent investor wants to replace a good roof just because it looks bad. I know I don’t. Don’t replace it, paint it.

You can choose from several different types of paint. Home Depot sells both. The first is Conoco Roof Paint. It is a premixed colored paint. It comes in several different colors - Earth, White, Terra Cotta, and Spanish Red. They are all great colors so choose which will best match your trim. The other paint is Behr Roof Paint. It comes in white and you can mix it to any color you choose.

We recommend using a paint sprayer as opposed to a roller. A sprayer will get in all the cracks and give a smoother finish.

Roof paint is cheap. It is approximately $40.00 for 5 gallons. For $100.00, you can completely change the look of a house.

Roof paint has elastomeric properties and dries like rubber. It gives the roof a nice seal as well as a great look. The paint is not meant to fix a bad roof. Only to enhance the looks of a good roof. I repeat, do not try to fix a leaky roof by painting it, it will still leak.

In our last boot camp, we took the students to the house and several “old timers” were amazed at how great it looks. Try it next time. You will not be sorry.

Flooring and Remodeling

2008-12-07T17:01:00.000-08:00

There are several ways to make your property more appealing to potential buyers. Putting in a new kitchen, painting the outside with a neutral color and then using color coordinated shutters to frame the windows, updating the bathrooms, using knockdown on the ceilings and walls, and putting in decent flooring.

Flooring is one area where many investors “cheap-out”. They will use the cheapest carpet known to man or worse yet… linoleum! Folks, this is the 90’s and we live in Florida…. no one uses linoleum! We recommend using white or neutral ceramic tile.

Let’s start at the front door. How big is the living room? If it is a decent sized room then place a nine-tile foyer at the front door and carpet the rest of the room. The foyer looks great and helps reduce the wear on the carpet. If the living room is small, tile the entire room.

Next, look at the kitchen/dining area. Is it one big space or are the rooms separate? If they are together, tile the entire area. If separate, you can tile the kitchen and use the carpet in the dining area. In many cases you will tile the entire living, dining, and kitchen area because of the layout and size.

Now, we’ll move on to the bathrooms. Use ceramic tile here as well. You should be using the same tile that you used in the kitchen/living area. There is no need to purchase different tiles for different rooms.

Find a tile outlet near you and stop in often to stay apprised of the styles they are discontinuing. Buy discontinued styles and store them until needed.

It is a good idea to have a small storage place to store items you might come across… stoves, refrigerators, tile, doors, windows. You never know what you will find at one house that you can use at the next. Recycle as often as possible.

Next, let’s discuss the bedrooms. Use the same carpet that you used in the living room and hallway. People like to get out of bed and step onto carpet. We have seen investors who have tiled every room in the house. We feel it makes the house cold and unappealing.

If there is a family room or den we think carpet is best. If you are going to tile the living room it is best to carpet the den. You need at least one “warm” room.

To add additional appeal, pay attention to the small stuff. Use gold numbers on the house; buy a new white mail box with the gold emblem; use the half-moon front door; when hanging ceiling fans, use ceiling covers under the fan base; place modern light fixtures by the front door; modernize everything as inexpensively as possible.

The bottom line is to make the house as appealing as possible from the front door to the back door. Use a decent grade carpet and pad, put ceramic tile where it makes sense, and most importantly, make the house warm and friendly. Then sit back and watch the profits roll in!

Wholesale System Training Products

2008-11-27T20:12:00.000-08:00

Hi Friends,

Thanks for being part of the call event. I trust you enjoyed it and will IMPLEMENT what you learned. You can't be successful in anything without IMPLEMENTATION.

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Black or White

2008-11-25T22:02:00.000-08:00

In a business such as ours, there are MANY gray areas. But, do you actually know what is gray and what is not?

When Sharon and I first started in this business we structured deals the way our mortgage brokers told us to. It was not until we had been in the business for awhile that we began to question whether or not some of the deals were in the “gray” area. Lucky for us, we did not break the law. However, many investors do and have gone to jail or been heavily fined because of it. How does a new investor avoid the pitfalls of unscrupulous realtors and mortgage brokers? Easy, if you can’t put it on the closing statement or show it to your accountant, you should not be doing it.

We want to share a gray area scenario with you so you will understand what we are talking about.

You have a property for sale for $80,000. You find a buyer who loves the property but can only qualify for an 80% loan. Your buyer has no cash and needs 100% financing. Your mortgage broker tells you to make the sales contract for $100,000 and that he’ll get the buyers 80% of that amount giving them a $80,000 loan. In essence, your buyers now have 100% financing. The broker then tells you to prepare a second mortgage for the additional $20,000 ($100,000 contract price minus the $80,000 loan) and satisfy it at the closing table. You agree thinking this all sounds good. The day of the closing arrives, your buyer gets the 80% loan, you close on a deal, and then you sign papers satisfying a second mortgage you have no intention of collecting. Seems like a great deal for everyone, right? Wrong! This is bank fraud. If you can’t put the second mortgage on the closing statement or you aren’t really collecting the money or you inflated the price to get your buyer 100% financing, you have, without a shadow if a doubt, committed fraud.

There are so many mortgage brokers who do this, it’s scary. There are other ways to get your buyers qualified without committing fraud. You can pay part of their closing costs, you can offer gift letters, some banks allow the seller to legitimately carry back a second mortgage, others may allow you to pay part of their down payment. We know how desperately investors want to close on their deals, but please do it within the limits of the law. There were two mortgage brokers in the paper recently who were arrested on charges of fraud. We happen to know one of them. Don’t let greed or inexperience lead you down the wrong path.

If you are a new investor and don’t know where to start, call a group leader or another investor. We are happy to offer advice, give you the names of folks that we have successfully worked with, and help you in any way possible. Attending investor meetings is the best way to find every person you need to be successful in this business. Other investors will be happy to share with you who works in the “white area” and who does not.

Bankruptcy – The Banks Worst Nightmare

2008-11-18T17:39:00.000-08:00

Upcoming Free Teleseminars:

Bankruptcy – The Banks Worst Nightmare

TUNE IN THURSDAY NOVEMBER 20, 2008
AT 6:00 PST, 7:00 MST, 8:00 CST, or 9:00 EST

"Bankruptcy - The Banks Worst Nightmare"

As our market changes, bankruptcy is becoming a more important part of short sales than ever before. Many of the Loss Mitigation reps think the government will "bail them out." We see how the bailout is going so far…in the wrong direction.

It is almost impossible to do a short sale these days without some bankruptcy knowledge. You will learn the:

TOP 5 THINGS YOU NEED TO KNOW ABOUT BANKRUPTCY TO SUCCEED IN TODAY'S MARKET

1. How to educate the homeowners about bankruptcy.
2. Which bankruptcy should a homeowner in foreclosure file?
3. How to use bankruptcy as a bargaining chip.
4. When NOT to use the threat of bankruptcy.
5. Rule 109 (g) and what it means to the bank.

Friends, you can't afford to miss this call. Just look at what bankruptcy has done for:

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Using Assumptive Language Patterns

2008-09-03T07:38:00.000-07:00

Having a firm grasp on language patterns will help you close more deals. In addition to using embedded commands, which are word groups that order you to do something, you must incorporate assumptive language patterns into your vocabulary. Assumptive language patterns assume the outcome of what you are asking.

When doing short sales you can ask the bank the same question, two different ways. Read both sentences and see which one you believe to be more assumptive:

Hi, my name is Bob and I was wondering if you do short sales?
Hi, my name is Bob. I am working on a short sale for the property located at 123 Elm Street. The loan number is #34777. Where do I need to fax my short sale package so that you can go ahead and get this deal approved?

We are assuming the bank is going to say yes to our short sale, instead of wondering if they short sale at all.

Let’s look at another example of assumptive language patterns you can use when speaking to homeowners:

Are you ready to sign the contract so we can get going, or do you want to think about it for a few days?
After speaking with me this evening, obviously you are ready to get started. Sign the contract, so I can get you what you want in the time you need it, won’t that be great?

Homeowners in distress want to be told what to do. They want and need someone else to take over and make decisions for them. If you come across as weak or insincere, they will have no confidence in you. The more assertive you are, the better they feel about working with you.

Let’s look at another example assumptive language patterns:

Unless you feel motivated, you will never decide to work with me, which means you will never get out of your situation and that is not what you want, is it? Imagine how great it will feel to sleep again without the stress of foreclosure looming over your head. Let’s do the right thing and sign these papers so we can get started, okay?

The underlined words are embedded commands. Embedded commands are word groups that subconsciously order people to do something. Feel motivated, is a command. Work with me, is a command. Do the right thing, is a command. Sign these papers, is a command. When used in a sentence, these commands motivate others to do as you say. See if you can think of several commands on your own. Write them down, repeat them everyday, and begin using them. You will begin to notice that people will become easier to work with.

In order for you sound strong when using assumptive language and embedded commands you must do four things:

Pause before the embedded command
Speak louder on the embedded command
Down-swing on the embedded command
Pause after the embedded command

Practice the above example by pausing, speaking louder, down swinging, and pausing again on the commands. See how much stronger you sound?

Great sales people assume everything. Every time you have the opportunity to speak with a bank or distressed homeowner, use strong language patterns. As you become more comfortable with these new language patterns, your sales will increase.

The banks like to work with experienced investors. Distressed homeowners also like to work with someone they feel can truly help them. Many homeowners are skeptical to begin with. If you can give them a sense of comfort, you will win them over every time. Perception is reality. If they think you have power, you do. If they think you are an imposter, they are right.

Many investors worry that if they begin using stronger language patterns that homeowners will know or feel that they are being pushed. Folks, I would venture to guess that before you read this article, you were not aware that these language patterns existed. The average person has no concept of language patterns and will never feel “sold.”

As you drive in your car the next few days, listen to the radio ads. Because radio does not have the luxury of being visual, it must use language patterns to attract customers. Now that you are aware of it, you will notice that every ad has embedded commands as well as assumptive language patterns.

To improve your language skills, start by asking every question in a way that will produce a positive outcome.

Old way: Are you ready to sign the deed?
New way: Obviously, you are ready to sign the deed, aren’t you?

Trust me, it will not sound corny, and people will feel confident working with you.

By Bill Twyford

No Equity = Big Bucks

2008-09-02T05:38:00.000-07:00

Anyone actively investing in foreclosed and distressed properties has no doubt come across one major problem… Finding deals with equity! Trust us, this is a nationwide problem.

There are so many foreclosures out there; unfortunately most of the homeowners owe what their property is worth. We find that most investors walk away from deals with no equity. They either don’t know what to do with a no-equity deal or they are unwilling to put forth the effort necessary to make the deal work.

In situations like this, we short sale the mortgage. “What is a short sale?” You ask. To short sale a mortgage means getting the bank to accept less than is what is owed as payment in full.

There are several steps that will ensure your success when you short sale a mortgage.

First of all, you must have the homeowner under control. Many investors are under the misconception that they can buy the property directly from the bank while it is in the foreclosure process. Not true! The bank does not own the property until the moment of the courthouse sale. You can buy the mortgage and finish the foreclosure process, but you cannot buy the property. You’ll have to work hand-in-hand with the homeowner if you plan to short sale the mortgage.

Here is how it works: A homeowner calls you and tells you he is in foreclosure; owes $95,000 on his property; it’s worth $100,000 and he is 8 months in arrears. He wants to move on with his life but can’t sell his house because he owes what it is worth. Here is where you come to the rescue. You meet with the homeowner and have him sign an “Authorization to Release” form (this gives the bank permission to speak with you about the account) and a sales contract for the amount you are willing to pay for his property. In this scenario we are going to offer $50,000. Next, you call the bank and ask for the Loss Mitigation Department. This is the department that handles properties that are in foreclosure. Tell the person handling the account that you are trying to help Mr. Smith with his foreclosure and you are willing to buy the property from him. However, due to its poor condition you are only willing to pay $50,000 as payment in full. Fax the sales contract for $50,000; comps in the area; an extensive list of repairs that are needed to bring the property up to marketable condition; a net sheet (a title company will help you with this); and some really bad pictures. The bank will then review the information and make a decision. Let’s say they counter at $65,000; you counter again at $55,000; they accept! It’s that simple! We short sale many, many mortgages every year. Banks are not in the business of owning properties. They would rather sell a mortgage short than go to the courthouse steps.

We’d like to share an incredible deal one of our Foreclosure Fortune Hunt graduates put together. Her name is Cathi Dubois.

Cathi was helping some friends find a home in which they would live. They came across a property valued at $200,000 in a distress situation. The property had a mortgage of approximately $197,000 and was in need of several thousand dollars of repairs. Based on the fact that the current owner owed what the property was worth Cathi did what any prudent investor would do, she did a short sale.

She contacted the bank and began the process. Her first offer was $50,000. The bank laughed and told her to make a higher offer. After several phone calls, the bank agreed to accept $130,000 as payment in full. That is a $67,000 discount!! With the new payoff of $130,000, she then flipped the property to her friends for $140,000 and made a smooth $10,000 in less than a week!!! Personally, we think she gave the property away too cheap (smile).

This is a typical case where having a firm grasp on creative real estate enabled Cathi to turn a “nothing deal” into a “something deal” just by picking up the phone. She made money (and a lot of it) on a deal most investors would have passed by. The bank was happy with the short sale, Cathi made $10,000, and her friends bought a home with $60,000 equity!

So… the next time you get a call from a distressed homeowner with no equity, what will you do? Walk away or make a few simple calls and turn your time into cash? We certainly hope you will make the small effort it takes to short sale the mortgage. It is such an easy way to make money in an industry where great deals are tough to come by. When you short sale a mortgage, not only are you helping yourself; you are helping a very distressed homeowner and giving them the chance to start over.

By Dwan Bent-Twyford

Long Term Wealth

2008-08-27T07:07:00.000-07:00

So, you want to be a landlord? Wow, you are very brave. Just kidding! We are also landlords. The main reason we keep rentals is because if we don’t wholesale or rehab for six months, guess how much money comes in? That’s right, none! We certainly do not want that to happen. Keeping rentals truly is the way to long-term wealth. We love the quick cash, but we keep for long term as well.

Make a rental plan. Maybe you will wholesale three and keep one. Maybe you will rehab two and keep three. However, you plan to accumulate rentals, start with quick cash and then move on to long tern investments. One of the biggest mistakes we see new landlords make is buying more property than they can afford.

Let’s say you buy three rentals. The mortgage payment is $500 on each. You rent them for $700. You’re excited to have $600 positive cash flow each month. Suddenly they all become vacant at the same time. Five months pass and you can’t rent them. Can you afford to make the mortgage payments on three properties for five months each? If not, don’t become a landlord until you have liquid cash.

We like to use the Section 8 program. Section 8 is government subsidized rent. Many landlords don’t like the government programs because they don’t like the tenants. As you’ve noticed by now, we are all about win/win for everyone. If we can help a tenant on subsidized rent have a better place to live than a small, cramped apartment, we do. We have had great luck with our tenants.

The key to successful renting is to screen your tenants. We’ll give you the one piece of landlord advice that will save you many headaches. You can use the best rental application in the world, but if your tenants live like pigs, your place will be trashed in no time. We show-up at the prospective tenant’s current residence unannounced. We tell the tenants we are here for an inspection of their property. If they will not let us in, we don’t rent to them. I want to see how they actually live. If they know you are coming, they clean their house and have the kids on their best behavior. If you show-up unannounced, guess what? You get to see how they really live. If their house or apartment is crawling with roaches, guess what? Yours will be, too.

Usually the tenants will give you some opposition by saying things like, “We’re packing and the place is a mess.” Tell them you completely understand; however, if they don’t let you in now, you can’t rent to them. There is a big difference between people who are packing and people who are complete pigs. Look at the kitchen floors, the bathtubs, the carpet, the dirty dishes in the sink, the paint on the walls. If you see iron burns on the floor or black grim in the tubs, this is exactly how your rental will look when they leave.

By using this one technique, we have passed on tenants who seemed fine in the interview and who had great references. We are not interested in replacing carpet and repainting our units every year. We can’t make any money that way. Carpet and paint will take all our profit for the year.

The great thing about owning rentals is that the mortgage balance is paid down by someone else, you get to build your wealth over long term, and you can take deductions and depreciation on your taxes; potentially reducing your taxable income substantially.

If real estate investing is your passion, you want to make sure you do not fall into the trap of spending so much time managing your rental properties that you have no time to go out and invest in more properties

We accumulate many rentals from homeowners in distress. We tell them we’ll make the mortgage payments on time for the balance of the loan, if they’ll stay on the mortgage. We take the deed “subject to” the existing mortgage. Your investor friendly title company will help you with this. Simply put the property in a “land trust” to protect yourself from the “due on sale” clause and you’ll be fine.

We end up with lots of rentals for which we didn’t have to qualify. When you buy a house, there’s a name on the mortgage and there’s a name on the deed. The person whose name is on the deed is the person who actually owns the house. If a distressed homeowner deeds a house to us, we are the new owners. We make-up the back payments and keep the property long term. Please be certain to make all mortgage payments on time when you do this. You don’t want to adversely affect the credit of the person who deeded you the property.

Homeowners in distressed situations are praying for your help and are willing to deed you their house. We hear homeowner’s say, “Here’s my deed, just help me out. I don’t want to have this house and financial burden anymore.”

We love “subject to” rentals. When we come across a property that is in great shape and not too far behind in payments, we keep it.

By Dwan Bent-Twyford

Forebearance Agreements

2008-08-26T00:02:00.001-07:00

Many times we find distressed homeowners who are willing to deed their property to us and walk away. Typically there are back payments that need to be paid as well as attorney fees, taxes, and such. Although we are always happy to accept a deed, we have a few steps we follow before we actually file it and come out of pocket with any cash.

First, you’ll need to make a decision regarding the property. Are you going to rehab it, keep it for a rental, or wholesale it for a quick profit? Let’s assume you want to keep it for a long term investment.

If you plan to keep the property, you’ll need to bring the payments current in order to stop the foreclosure process. Before you spend your hard earned money bringing the payments current, do a title search. Homeowners have a funny way of forgetting about other liens that may cloud the title. Once you are certain that the homeowner actually has the right to deed the property to you and that there are no other liens against it, you are ready to get to work.

Let’s say a homeowner has payments of $700 per month and is 10 months behind. The homeowner owes the bank $7000 in back payments or arrears. Many investors would pass on the deal because they don’t have $7000 to give the bank and they are not aware another alternative exists.

Call the bank and work out a forbearance agreement. A forbearance agreement is nothing more than a payment plan. Tell the bank you are a friend of the homeowners and want to help them out of their situation. Ask the bank if they will place the late payments on the back of the mortgage. If they say no, ask if they will accept some now, say $2000, and the balance on the back of the loan. If that does not work, keep negotiating until you come to an agreement.

Banks will typically accept 1/3 to 1/2 now and will apply the balance to the back of the loan or spread it over 24 or 36 months. Once the bank has agreed to the terms, they will prepare the necessary paperwork. All you have to do is negotiate the deal. Let’s say the bank accepts $2000 now and the balance is placed on the back of the loan. You only had to come out of pocket with $2000 opposed to the $7000 originally due.

File your deed, pay the $2000 and you now have a long term investment property with very little out of pocket expense just because you knew to make one simple phone call.

By Dwan Bent-Twyford

Delegating Work

2008-08-19T07:05:00.000-07:00

As investors ourselves, we understand the many tasks that must be completed in order to finish a deal, rehabbing a property, to answer ad calls, and so on. Are you still doing ALL the work yourself or have you hired a helper to complete these tasks? Most likely you are still doing everything yourself. Is it wise to delegate work and find team players if it means you will increase your income? We believe it is!

Statistics prove so…when you have trivial tasks that must be done, yet these tasks prevent you from finding investments, wouldn’t you agree that you are limiting your income? You may feel that you cannot afford to hire an assistant. We believe you cannot afford not to. This is merely a “growing pain hump.” It is imperative that you have a great team of players as well, i.e., attorney, mortgage broker, realtor, title company, appraiser, handyman, etc. Are you trying to be all of these players AND an investor too? Instead, try building a great team and delegating work to your team players.

Another way to help your self is through time management. You must be able to balance your time wisely and organize your workload to be successful. Here are a few tips that will help: make a schedule that works best for you; plan times during the day in which you will return or receive phone calls; time to inspect properties (try not to do this around heavy traffic time); learn to return phone calls from the car, using a “hands-free” connection; map out your properties and errands so that you are not wasting time backtracking; keep a mini-recorder in your car so you can “take notes” easily and not worry about forgetting things; always keep any necessary paperwork in your car so you are prepared for opportunity; make time to network; and always continue your education. Knowledge is power and power makes you wealthy! Be prepared for opportunities…do not wait for opportunity to get prepared for you!

Here is what opportunity looks like…we are opening an office we like to think of as “Investor Central.” This office is located in downtown Delray Beach. We plan to supply the tools, the team players, as well as the great location necessary to be a successful investor. Wouldn’t it be great to have a team of aggressive players right in your own office? We know it would, that’s why we’re putting it together for ourselves…but we figure, why not share the wealth? Our goal is to surround ourselves with perceptive, aggressive investors and team players. This way, we can all work together to get our properties marketed and sold, fast, and ultimately increase our income. Join us at investor central and watch your business grow!

Surround Yourself With Success

2008-08-14T00:39:00.000-07:00

There is an old saying that goes something like this, “If you want to be more successful, surround yourself with the people whom you most want to be like.” This is great advice to live by. If your goal is to be the most successful real estate investor in Florida, what are you doing to achieve that goal? Do you make the effort to meet people who are actively investing or do you spend your free time doing meaningless tasks? Sharon and I make it a point to have lunch with at least one person per month whom we feel is making an impact in local real estate. It’s amazing how much information we gather this way. Try it.

What about your other goals… weight loss, making more money, reading more, attending church, or whatever your New Year’s resolutions were. Where are you with these goals? If your goal is to lose weight, what are you doing differently now to accomplish that goal; hanging out at the bakery or the gym? If your goal is to make more money are you attending seminars, boot camps, and workshops or listening to Uncle Johnny tell you how these “get rich schemes” don’t work? We had a boot camp several weeks ago and were discussing with the class what kind of feedback they received before attending the class. Not one person in the class had any support before attending. They heard things like: you can’t really make money buying foreclosures; you’re wasting your money; get rich ideas don’t work; what a waste of time; you have to have money to start; you’re spending how much money? are you crazy? and all sorts of negativity. So, why did they attend? Because these people are unwilling to be drug down by naysayers. They know that if they take the time to learn a new business and surround themselves with people who are living what they want to do, they’ll be successful.

Recently I joined a gym with a friend. She has never worked out in her entire life. She told her mom and a few friends and they all said the same thing, “Oh, you’ll do fine for a few weeks, but mark my words, you’ll quit within a month and waste all your money.” Why do people try to drag us down? In general, people don’t want you to be more successful, or look better, or be happier than they are. It forces them to examine their own lives and see their own shortfalls. Don’t listen to what others say unless they are being supportive and encouraging you to reach your dreams. Find a mentor and spend as much time as possible with him or her. Don’t ever let anyone keep you down. Surround yourself with success and you’ll never go wrong!!!

By Dwan bent-Twyford

Finding Great Deals

2008-08-12T06:24:00.000-07:00

It stuns us how many investors say, “I can’t find any good deals.” Folks, you’re not looking! There is an abundance of deals out there, but you have to actually work to find them. We think that many new investors, who watch too much late-night TV, are under the impression that if they decide to become an investor, the “investor fairy” will drop deals out of the sky. Not true! Investors actually have to work just like the rest of the world. The difference is that we are not stuck in a nine to five rut and bound by the bosses’ rules. Our job is fun, profitable, we make as much as we are willing to work for, and we help people along the way.

We want to share a few of our favorite methods for finding deals. First and foremost, the oldest method in the book: knocking on doors! We’re here to tell you that knocking on doors is still the best way to find deals because other investors hate to do it. The biggest problem is that investors don’t know what to say. It’s simple, just tell the homeowners that you were at the courthouse doing some research and noticed that they have a pending problem with their property and you‘d like to help. NEVER mention the “F” word…. get your mind out of the gutter.. we mean foreclosure. Ask them if they took care of it. Typically they say, “Yes.” Ask what they did… filed an answer, sold it, brought the back payments current, what? You can tell by the blank look on their faces that they haven’t taken care of anything. Offer your assistance and move forward with your deal.

What about postcards? Do you religiously mail them? To whom? Most investors mail postcards to people in foreclosure. This is a great idea, but did you know that there is a wealth of other information that is public knowledge? Try mailing to people in probate; going through a divorce; in bankruptcy; and landlords who just walked out of eviction court. This information is public knowledge that the typical investor doesn’t tap into. NEVER be typical.

What about mailing lists? Have you ever considered buying a mailing list and “farming” neighborhoods? It works for Realtors, why won’t it work for you! We buy lists by the zip code and mail where we want to own property. Doesn’t it make sense to have several properties for sale in the same area opposed to all over the county?

How about phone calls? How often do you sit down and call foreclosures? Never? Why not? With a criss-cross directory you can find almost anyone. Investors, take the time to find people who have moved or changed their numbers. If they have moved, you have a deal because the mental attachment to the property is gone.

Do you run ads in newspapers? Why not? Many investors think ads are too expensive. How many deals do you have to do to pay for a year’s worth of ads? One? We’ll give you a little known tip: place your ads under “money to lend.” Many times the homeowners’ first choice is to save their house, not sell it. Once you have them on the phone you can negotiate your way into the deal.

You will make as much money as you are willing to work for. Our question for you is: how much are you willing to make? The sky is truly the limit. The bottom line is this, there are thousands of deals out there. If you don’t make the effort to find them, other investors will. We know because we’re one of them!

Common Newbie Mistakes

2008-08-11T00:01:00.000-07:00

The Key To Success

2008-08-10T00:11:00.000-07:00

We meet many investors who are looking for a magic pill. They think there is a magic sentence; a special program; the perfect boot camp; the easy way to find deals. Folks, I have to tell you, there is no magic pill. You can be successful if you will do one thing: WORK! There are an unlimited number of foreclosures every single month. The number of homeowners who needs help is mind-boggling. In larger cities, as many as five hundred foreclosures are filed every week. This does not include the homeowners who save their property before it hits public record.

Do you know what the real key to success is? Its good communication skills. Seriously! If you cannot talk to homeowners and bankers, how do you expect to close deals? We have been studying NLP: Nero-Linguistic Programming. NL…What? NLP is the way you communicate with others. Its simple folks, the better you communicate, the easier the deals come.

NLP is cause and effect language. It uses patterns of speech and words in the correct group to persuade others to see things your way. Here is an example: You could ask a homeowner, “Will you sell your property to me?” On the other hand, you could say the same thing using NLP. It sounds like this: “Mrs. Homeowner, when you decide now to work with me and we get your property sold, you’ll know you made the right decision. Let’s do the right thing and sign this agreement now so we can get you what you want in the time you want it. Won’t that be great!” Doesn’t the second sentence sound better? It is embellished language and works remarkably well.

In our second sentence, we used “embedded commands.” These are commands within the sentence that call homeowners to action. Can you guess the embedded commands? They are "decide now, work with me, get your property sold, do the right thing, and sign this agreement now." By adding just a few commands to your presentation, you will be able to close more deals.

Here are a few of our favorites: work with me, sign this agreement now, decide now, trust me, buy now, accept this offer, make a commitment, convince yourself, postpone the sale date, motivate yourself, take the short sale, get it approved, and begin to realize.

You might be thinking, “How do I begin to use these commands in my communication?” It is easy; folks plan a presentation, write several basic sentences, and more importantly, practice. Here are a few examples: “When you decide now to accept this short sale, you’ll begin to realize that working with me is easy. I close my deals in record time, which makes you look great to your boss.” Here is another: “Mrs. Homeowner, you have to convince yourself that working with me is the right thing to do. Let’s sign the agreement so you can start sleeping well again. Won’t that be great?”

NLP takes practice to be good at it. We truly believe it is the difference between earning $100,000 a year and $500,000 a year. Which would you rather earn? We are sure most of you answered $500,000. Fellow investors, have you taken the time to determine your numbers? If you sit face-to-face with a homeowner, how many deals do you get under contract? We get seven out of ten and we are certain it is because of our communication skills. With proper communication skills, you can close seven out of ten as we do.

Without proper communication skills, you might close two out of ten. If you are getting two out of ten homeowners to contract, look how many more people you have to sit down with just to get the same seven deals we get. We can speak to one hundred homeowners and get seventy contracts. Likewise, you speak to one hundred homeowners and only get twenty to contract. Which would you rather do? We agree, seventy. Look how much more money you can earn from the exact same work?

Folks, take time to learn how to communicate. Read a few books on NLP, attend sales seminars, invest in books that teach how to close deals, and take the time to really listen to your homeowners to see how you can be helpful. With the right words and the right attitude, you will make millions! We do!

by Bill Twyford

Building Instant Rapport

2008-08-05T22:00:00.000-07:00

Every investor has heard how important it is to build rapport with distressed homeowners. What we never hear about is how to do it. What is it about someone that makes us instantly like or dislike them? We do not really know what it is about that person; we just know it is something.

Rapport is developed in the subconscious. We cannot quite pinpoint it, but there is something about that person that seems familiar and makes us feel comfortable around them.

So … how do you establish rapport? Let’s start with a few basic tips. When I am looking for distressed homeowners, I like to knock on doors. It is the fastest way to get deals. If I knock on twenty doors over a weekend, I will have several contracts by Sunday afternoon. I would rather spend a day or two getting multiple deals instead of waiting for my phone to ring hoping for just one deal.

Here are some dos and don’ts when you knock on doors or meet a homeowner in person:

- Do not wear sunglasses. Homeowners cannot see your eyes and subconsciously you seem suspicious.
- Never wear a hat, like a baseball cap. Again, homeowners cannot see your eyes and are suspicious.
- Always have a clipboard in your hands so that both of your hands are visible. If you tend to stand withyour hands in your pocket or behind you, the homeowners will think you have a gun and are going to rob or kill them and will not hear what you are saying.
- Never wear cologne or perfume. I know this one seems strange, but let’s look at it from the homeowners’ point of view. You’re a guy and you wear Eternity. You show up at the door and a woman answers. Her husband used to wear Eternity. He ran off with another woman and she still hates him for it. You are wearing what the ex-husband used to wear and subconsciously, you remind her of him. She now dislikes you without knowing why. The same goes for the girls, too. You do not want to remind the homeowners of someone they now dislike.
- Be aware of what color your clothing is. Green promotes trust, while red promotes dominance. I like warm colors like green, blue, pink, or brown. Stay away from reds and blacks.
- Dress casual, but professional … no suits. Also, lose the jewelry. Homeowners losing their home do not need to see that you own a Rolex.
- Be aware of what you are driving. If you drive a Rolls Royce, you may want to consider getting a middle-of-the-road car for meeting homeowners. Yes, homeowners need to see that you are successful to feel confident that you can help them. No, they do not need to see that you have become a millionaire from distressed properties. You never want them to wonder if you have taken advantage of others and that is why you have so much stuff. People are leery to begin with; do not feed in to it.
- Be certain you are speaking to the right person. Instead of blurting out why you are there, ask if this is Mrs. or Mr. so and so first. Once you are sure, continue with your conversation.
- Never use the “f” word … foreclosure. State that you were doing some research and see that they have a “pending problem with their property” and that you would like to help them. This puts the blame on the property, not the person.

Let’s look at establishing rapport over the phone.

-Speak at the same rate of speech as the homeowners. For example, if the person who answers the phone speaks slowly, do the same. If they speak fast, do the same. People who speak fast think that people who speak slowly are stupid. Likewise, people who speak slowly think that fast talkers are slick and untrustworthy. Is it true? No, it is a subconscious thought that most people are not aware of. When you follow the homeowners’ rate of speech, you seem familiar to them and, again, they like you without knowing why.
-Ask them to share a little about their current situation and listen with respect and empathy. Once you feel that they have properly vented, begin to ask details about their situation. Homeowners want to tell you what happened because they do not want you to think that they are losers. No one grows up with the goal of being in foreclosure. Something in their lives changed and they want to be certain you know what it is.
-Make an appointment to view the property then call back to confirm the appointment. During the second phone call, ask more questions. Be certain that everyone on the deed is home and willing to put a deal together.
-When on the phone, listen for the objections you are going to get when you meet in person. For example, “we don’t have to sign a deed, do we?” If they ask questions on the phone, be ready to handle them in person.

So, you see folks, it is not that difficult to establish rapport. Take the time to be approachable, honest, and trustworthy and business will follow. Better yet … just be that way naturally and you will reap what you sow.

Dwan Bent-Twyford's Story

2008-08-04T22:52:00.000-07:00

My history is typically, “All American.” Having grown up in a small town in Iowa, my brother and I worked with our Dad, who owned a successful commercial painting contract business. By the age of 24, I started my own business in Houston, Texas, painting water towers, silos, and radio towers. You name it - I painted it!

In the midst of preparing a bid on a huge job, I was required to take a respirator test. This test requires you to breath into a test tube to see what your lung capacity is. I failed the test miserably. My doctor warned me that if I wanted to live to be forty, I needed to quit painting immediately and move to a higher altitude to clean out my lungs. Therefore, I packed-up my family and moved to Colorado.

Once located in Colorado, though, I had no idea of what to do next! Having been successful in the painting business, retirement was a thought. However, two months later, I was climbing the walls and searching for something…else…to do. By happenstance, I wandered into a real estate office, and that is where it all began.

This Realtor was sitting at his desk with his feet propped up. Curiously, I asked him if this is what he did all day. He informed me that he ate donuts and waited for clients to walk in from newspaper ads. He said he earned $50,000 per year and averaged ten properties per year. Being the assertive person that I am, I figured I could do the same thing, but I would sell one hundred houses and make some REAL MONEY.

My first year as a Realtor, I sold seventy-nine houses. My second year I sold one hundred and twenty three! I was really making a name for myself, and loving every minute of it! In August of 1994, I was introduced to Mike Ferry, and he became my mentor.

A few years later, I went to “war” with the IRS…and my ex-wife. The result was a nasty divorce and a huge tax liability. That was a defining moment for me. At that point, I decided that I wanted to help other people who were in bad situations: divorce, foreclosure, IRS problems, etc. I wanted to be an advocate for the people. Investing was a wide-open door and I took the chance.

My first year as an investor, I sold eighty properties. The money was ten times better and I was helping folks. I was hooked and have been investing since then. To date, I have sold well over 800 properties.

A couple of years ago, I met Dwan at a seminar…and we married the following year. Since then we have blended a wonderful family of five, we travel and speak together, and are loving life! Real estate has been very good to both of us. We wish the same for you!

Folks, you truly can make as much money - as you are willing to work for. There is nothing keeping you from earning a million dollars each and every year. The difference between earning good money and great money is the way in which you speak. Learning my communication skills will change your life.

Bill TwyFord's Story

2008-08-04T03:45:00.000-07:00

In the midst of preparing a bid on a huge job, I was required to take a respirator test. This test requires you to breath into a test tube to see what your lung capacity is. I failed the test miserably. My doctor warned me that if I wanted to live to be forty, I needed to quit painting immediately and move to a higher altitude to clean out my lungs. Therefore, I packed-up my family and moved to Colorado.

Once located in Colorado, though, I had no idea of what to do next! Having been successful in the painting business, retirement was a thought. However, two months later, I was climbing the walls and searching for something…else…to do. By happenstance, I wandered into a real estate office, and that is where it all began.

This Realtor was sitting at his desk with his feet propped up. Curiously, I asked him if this is what he did all day. He informed me that he ate donuts and waited for clients to walk in from newspaper ads. He said he earned $50,000 per year and averaged ten properties per year. Being the assertive person that I am, I figured I could do the same thing, but I would sell one hundred houses and make some REAL MONEY.

My first year as a Realtor, I sold seventy-nine houses. My second year I sold one hundred and twenty three! I was really making a name for myself, and loving every minute of it! In August of 1994, I was introduced to Mike Ferry, and he became my mentor.

A few years later, I went to “war” with the IRS…and my ex-wife. The result was a nasty divorce and a huge tax liability. That was a defining moment for me. At that point, I decided that I wanted to help other people who were in bad situations: divorce, foreclosure, IRS problems, etc. I wanted to be an advocate for the people. Investing was a wide-open door and I took the chance.

My first year as an investor, I sold eighty properties. The money was ten times better and I was helping folks. I was hooked and have been investing since then. To date, I have sold well over 800 properties.

A couple of years ago, I met Dwan at a seminar…and we married the following year. Since then we have blended a wonderful family of five, we travel and speak together, and are loving life! Real estate has been very good to both of us. We wish the same for you!

Folks, you truly can make as much money - as you are willing to work for. There is nothing keeping you from earning a million dollars each and every year. The difference between earning good money and great money is the way in which you speak. Learning my communication skills will change your life.

Read my programs, practice them, and watch your income - go through the roof!

What is this all about?

2008-07-31T23:14:00.000-07:00

The Investors Edge University, a company that specializes in training new and seasoned investors in a wide range of real-estate investing techniques through live workshops and seminars

Create 'win-win' situations, This site help people out of bad situations while investing in the real estate market. Love to teach you how to make a significant change in your life and in the lives of people you work with. Offer many courses that we personally teach, both in person and on through the internet.