Naked Lady Real Estate, The Bare Truth About Real Estate Investing

Observations of the Real Estate World

Last night we had our Gold Membership meeting which is a smaller group for investors to get ongoing training and networking opportunities.   Last week I had a mastermind and networking meeting for another group that I started which we call the PACRats.   I make it a point to talk to as many folks as possible when I am at my meetings and on both of these nights I made some serious connections for deals and for other important business needs. This happens on a regular basis and some might say that it is because I am the "leader" of the groups that I make these connections.  Well I am here to say BULL to that!

I wouldn't even be in the position that I am in if I just went to these networking events and stood to the side and just talked to the folks next to me. The only reason I am where I am today is because I constantly pushed myself past my fears and boldly went up to people and just started talking to them.  Asking what they are up to and then boldly offered myself up to task. You would be amazed what you hear about and the connections that are made simply by talking to people.  But that is not enough!  Then you have to take action with the information that you gathered! 

If someone has a deal they need help with - offer to help - anyway possible for christ sake.  Offer to partner in the deal to help with the work load.  Or if you are newbie - then offer to help them with the work load - just so you can get more experience.  If they need assistance in an area that you are not qualified for - then go out and find them that person and hook them up!  I have made many important connections - just by bringing people together that could help each other - without asking for anything in return.  Believe me - it comes back to you 10 fold.  When you help others with no strings attached - you get more then you ever need in return.

The folks who know me - know that I am a preacher of networking.  You never know who is going to be your next great connection.  Talk to everyone - tell everyone what you need.  Great things will start to unfold.  Trust me!  I told one person that I was looking for help in raising Business Capital and the person next to him said - "I can help you with that - that is my business"!  Good Gosh! Are you freaking serious?  Jeez louis.  I learned my own lesson last night!  I have been struggling on my own for months trying to learn how to raise business capital... you mean all I had to do was talk to people at my own networking events about my needs...  Who would have thunk it?

100% financing still available?

We had a wonderful woman come speak at one of our club meetings from Bank of America named Kathleen Hayes.  She specializes in affordable housing financing options. CalHFA (a mortgage revenue bond) and a couple of B of A specialty programs are the only programs on the market now that are still 100% financing in declining markets.

For more information on CalHFA visit CalHFA.com

Now that the House has passed a "temporary" raise in the limits for loans that qualify for Fannie Mae and Freddie Mac it will be interesting to see what happens.  (And for all those who don't speak "government"  - the english word for temporary is forever.)

If you are interested in learning more about the loan programs that Kathleen Hayes knows about it please feel free to contact her.

Kathleen Hayes
Bank of America
Mortgage Expert
Office: 818.874.4035
kathleen.m.hayes@bankofamerica.com

http://mortgage.bankofamerica.com/kathleenmhayes

Equal Housing LenderEqual Housing Lender

The CalHFA programs may be reviewed online at

PACRats Meeting Tomorrow

Reminder that there is a PACRats Meeting tomorrow.  Click onto the PACRATS Link to the right under Calendar & Events for more information.

We are going to have a great speaker who is going to talk to us about contracts and what we need to know to fill it out correctly!

See you there!

The Naked Investors Radio Show!

Well we went and did it!  Pete Mendenhall and I decided to try doing an internet radio show called The Naked Investors based on helping folks navigate through the world of real estate investor clubs, seminars and deal strategies.  I come from the perspective of my world (newbie investor, seminar and event organizer) and Pete comes from the perspective of being a real estate speaker and trainer.

Our show is every Wednesday at 12:00 noon on the Voiceamerica.com network.  It's been very hectic getting it all together. It's one of those times that you get a brainstorm and suddenly it's happening!  And then you think - what the heck happened here?  What did I get myself into? LOL.  We are excited!

Changing the business of real estate investing? Good Luck!

Well, one of my biggest disappointments in working in the "club and seminar" world is hearing that a speakers product or service is nothing but crap.  It gets worse when I hear about the disgusting sales tactics that happen after the initial sale to "upsell" folks into more expensive mentorship or coaching programs offered by the speaker.  The final straw for me is when the speaker sells a bootcamp and then once you're there they bring in 2-4 other speakers to present their crap during their bootcamp! 

I am telling you - it is just GROSS and I'm sick and tired of it.  How do these people sleep at night knowing very well that they are taking peoples money and time only to deliver bull!  In the past week I have heard one too many stories of folks feeling let down and discouraged by all the nonsense that is going on with speakers and seminars. 

I will be my dream come true if I could change the way this industry operates. I know it is very idealistic to think that I can, but believe you me, I will go down trying.

I will not have a black list that I publish on my blog, but what I might do is make sure to publish every speaker and their product that I like is here. 

REO's coming out of our...

Well - I just finished a 3 day REO Bootcamp with Bruce Norris and I will tell you that it has changed my investing plan for the next year at least. 

I will write about it more in detail over the next couple of days, but since I have been getting many phone and email inquiries about it I wanted to post to answer a few questions quickly. 

I have been apprehensive about dealing with REO's let alone going to those big auctions that are selling 1000 houses in one day!  I will tell you that I am singing a different tune today.  I have changed my investing strategy and I will add buying REO's from both the auctions and from REO listings to my overall plan.  The way that I see it, is if Bruce Norris tells you that this is what his plan is - then who the hell do I think I am to argue?

So my plan for 2008 is to continue to buy subject to and put into land contract and now to buy REO’s using what Bruce has taught me.

As many of us are aware, it’s a whole new world out there and what we see now is nothing compared to what's coming.  I feel so lucky to have learned all about REO's so early in this market. I feel like I am ahead of the game now. Boy oh boy.

 

I highly recommend this bootcamp to anyone who wants to learn the how to buy REO’s at auction and through REO agents.  If you are intersted in learning more about the bootcamp contact Diana at The Norris Group.

Bruce Norris Bootcamp this week!

Starting today and for the rest of the week I am in Bruce Norris' 3 day REO Bootcamp!  WOW!  It has been amazing so  far.  Mainly because he only allows a maximum of 15 people in these bootcamps so it is very interactive and hands on. 

I am learning a lot and am having a lot of business Epiphanies!  One thing that I remembered today was that I really love being a real estate investor.  When I listen to Bruce talk about his deals and strategies I feel a sense of excitement to be an investor.  Actually, I realize that I want to be more of an investor.  That is; do more deals and stop "working" in a job.  (Doesn't everybody!)

One of my epiphanies was about my strategies for real estate investing.  I have never really thought about dealing with REO's. Mainly because I don't yet understand the whole process. That's why I wanted to take Bruce's bootcamp.  It has been a huge eye opener!  I am learning so much about this part of this business - just in 1 day! I am definately changing my strategy and am going to buy REO's!  Forgetta 'bout the whole short sale business for me.  I was never really into it anyways.  But now I am really not!  I will just pass those leads onto my fellow investors!

Another of my epiphanies today:  I asked Bruce if I was wrong to feel anxious and nervous about the whole "buying 65-70%" of value. I've asked many gurus this question and i finally "got it"  today. The 65%-70% of value is what I decide what I am willing to sell the house for.  Not what the comps are showing.  If all the comps in the neighborhood are at 500K, then I would want to sell my house for 480K.  So then I would want to buy the house for 65% of that value.  I finally got it!  After all this time!  Errrr duh!

Anyway - this is a terrific boot camp so far and tomorrow we will go out in the field!  I am looking forward to that!

Stay tuned... for tomorrow...!

Your 2008 Investment Plan? What is it?

I just read Bruce Norris' Jan Newsletter and he has about 3-4 articles in there from expert various investors including Mike Cantu, talking about their personal investing plan for 2008.  Well - it's very exciting for me, because it is exactly what I have been talking about for my plan for 2008. 

Good to know...  Makes me feel like I know what the heck I am doing sometimes!

Click here to read the newsletter.   

Let me know what your plan is in the comments below!

HAPPY New Year!

I'm back!

I have been gone for a couple of weeks.  I took a vacation (GASP), and decided to let my pretty little head rest from all the craziness.  It's funny when that happens.  Suddenly - I noticed that there were actual people living in my home with me.  And that I could - yes could have a conversation about other things besides real estate!  It's true!

I had a lovely time of wining, dining, socializing and shopping!  Now it's time to get back in the game! 

There is so much going on for 2008 that frankly - I don't know where to begin.  First I will start off by telling you that Mr. Pete Mendenhall and I will be starting our Internet radio show - next week!  You heard me!  Next Wednesday, Jan 9th is our first air date.  It will be on Voiceamerica.com in the business channel.  I will send out more about that shortly. We'll have a website for this.

Next - Michael Quarles is starting a new real estate club in Anaheim in February.  I will help him a little on this to get started, so you will hear more about this in the coming weeks.

Next of course we have the PACRATS!  I will be announcing our next meeting, which will probably be in the 3rd week of January.  Anaheim Pacrats will open soon too.  Our Pacrats website is being built now and it is going to be AMAZING!

Finally - hello - what about the business of real estate investing?  Well that's a whole nother ball of wax that I have going on and now have decided to hire me an assistant to help with all the phone calls and marketing.  Boy I need this!

Anywho - just wanted to touch base and let you know that I am not dead.  I'm alive and kicking and have many great things to accomplish with you this year - so let's get started!!