Boomer’s Blog

The real estate investment business is tough no matter how much experience or practice – or patience a real estate investor has in working with today’s fickle markets. That’s why I’ve arranged a teleconference with one of the best creative thinkers in the business, the real estate entrepreneur extraordinaire and engineer of the Ultimate Buying and Selling Machine, Larry Goins.

Larry is absolutely thriving from his North Carolina home base. He buys and sells 10-15 Houses each month without ever having to talk to a single realtor, for-sale-by–owner (FSBO), attorney, appraiser or buyer!

Get your Operations Manual for Success!
Like me with SalesTeamLive, Larry has created a system that allows you to automate your business and outsource the hard work. And he’s crammed his decades of wisdom and experience into a timely ebook that casts a shining light on common mistakes investors of every stripe make in strategic planning and navigating pathways to profits.

Larry’s ebook is called: 12 Deadly Mistakes Even Experienced Investors Make and How to Avoid Them, and you can get your copy for free just for being a member of GaryBoomershine.com and signing up to attend my call with Larry, Oct. 28 at 9:00 p.m. EDT. If you missed the call, you can follow this link to listen in to the call as long as Larry allows me to give away this rare opportunity for free.

Membership Has its Privileges
If you haven’t already, join us here at GaryBoomershine.com using the yellow fields on the right side of this page or from my homepage and we’ll email you all the details you need to get your free copy of Larry’s 12 Deadly Mistakes Even Experienced Investors Make and How to Avoid Them ebook and attend our call Tuesday evening.

Get Your Operations Manual for Real Estate Success
To give you a taste of what you can expect when you join us I’m giving you a special preview. As Larry says, by learning from the mistakes past investors have made can make the difference between making it and breaking it in this business.

Here are some of my favorite common “mistakes” Larry discusses at greater depth in his 12 Deadly Mistakes Even Experienced Investors Make and How to Avoid Them ebook. I can’t believe he’s giving it away! I’ve paid generously for much less than this! Enjoy this free offer for a limited time.

1. The “First Deal” Syndrome: Take time to survey the neighborhood surrounding your prospective property deal, check out rental and resale comps and run the numbers on what you can afford. Stick to your budget! Before making a deal, be sure to crunch all the numbers to know for certain that after purchase price, closing and rehab costs, you’re still able to come in at a certain profit percentage. Larry will tell us that magic number in this call.
2. Retailing Rental Properties: Know your market! Larry says that even the most brilliant strategies can crash in burn if your market doesn’t support your plan. Be creative, but be smart!
3. No Financial Reserves for Emergencies: Larry says it’s essential to have financial resources available for resale or rental properties that you have purchased. This is true whenever you are buying a property, whether you are going to buy it, fix it up and sell it or buy it, fix it up, refinance and rent it. His ebook tells you how much you’ll need and give you some excellent advice on how you can have the emergency cash you need without compromising your cash flow.
4. Underestimating Repair Costs and Timing: Keep in mind that when first viewing and inspecting the home you cannot see everything that’s going to cost you money, Larry warns. Keep in mind that it’s nearly impossible to be too conservative when you estimate your costs in the real estate business. Larry tells you how to make the best deals when negotiating with contractors, and how to minimize your rental income losses.
5. Neglecting Your Homework: Always do your due diligence and never depend solely on third-party estimates. Go out and get your own estimates, regardless of time constraints, Larry advises. Staying on top of your transaction also will help to protect you from falling prey to scammers.
6. Failure to Manage Your “Passive” Investment: Stay active in your investment!  There is no other way to assess your real estate security and equity levels when the time comes to do the next deal. Larry tells you exactly what you need to know!

GaryBoomershine.com Members Get all the Perks!
Stay tuned for more great insights from Larry Goins and the latest strategies from other elite real estate entrepreneurs. Remember to join GaryBoomershine.com ASAP so you can get free VIP access to all our special events “for serious investors only.”

Claim Your VIP Pass to Moneymaking Real Estate News, Marketing, Strategies & Tips
At GaryBoomershine.com, our focus is on delivering the the most timely real estate news, resources, tools and systems that build stronger real estate investment decisions and boost your bottom line.

Sign up either here or on the main page at GaryBoomershine.com and you’ll get the best this industry has to offer in real estate news, real estate marketing, real estate training systems, and all the creative real estate ideas that drive success in this business. Members also get exclusive access to compelling multimedia content and jaw-dropping discounts!

Don’t miss out on this opportunity to Make Tons of Cash in Real Estate! Join GaryBoomershine.com today and get ahead of the pack!

Real Estate Investors: Do You Want to See More Green on Your Spread Sheets?

Brace Yourself! GaryBoomershine.com Community Members are Gazing into their REI Crystal Balls and Discovering the Secret Market Timing Strategy that Generated More Than $100,000,000 in Red Hot Deals for one Savvy Entrepreneur. Due to popular demand, we’ve made a replay of this timely call  available for free! Won’t you Join Us?

Housing Prices Are No Secret, but Expert Market Timing Is!
Nationwide, single-family home prices in July plunged another record-breaking 16.3 percent from last year. We’re continuing to see sharpest declines recorded since Standard & Poors began tracking the data in their Case-Shiller index some 20 years ago. What does this tell seasoned real estate entrepreneurs about future investment strategies? Now’s the time to start crunching some numbers.

Creative real estate veteran Ken Wade believes that there is nothing truly unusual about today’s housing market: There’s no crash, and the media focus on handful of markets is having a devastating impact on market psychology and prices. In reality, what we’re experiencing as real estate entrepreneurs, is the natural cycle that moves the market.

Ken is the Harvard-educated numbers cruncher behind an innovative system for research-based real estate investing. He has spent much of his career tracking local real estate market trends and reaping the profits from his investments. Ken estimates that he’s done $100,000,000 in real estate deals over the past 30 years.

Market Timing Can Make or Break your RE Business
Ken developed his market timing system to give regular investors access to the same sophisticated tools that financial institutions and major players use to maximize profits in their real estate transactions. And on this special Webcast that we’ve recorded and posted for a limited time only,  he’s sharing that coveted knowledge exclusively with members of GaryBoomershine.com.

Three Rules to to Maximize Your Profits & Revolutionize your RE Market Timing
From years of painstaking research and experience, Ken knows how these cycles work in 93 percent of the housing markets in the United States. And he’s developed three rules over the years to guide his investment decisions:

1. Forget About the REI Fundamentals: Analyses based on market factors such as job growth, mortgage rates, building permits, housing starts, population and migration, and personal income don’t work for predicting market cycles & fail to provide investors with solid decision triggers.
2. Markets Rise & Fall Based on Supply & Demand: Yes! It’s really that simple.
3. Market Psychology Drives Real Estate Prices: In many markets, when investors and speculators began executing their exit strategies, the media sounded alarms that triggered a nationwide backlash. The resulting price drops are invitations for savvy entrepreneurs to scoop up someone else’s losses for massive profit gains. Since most U.S. housing markets were not subject to the price surges that are commonly associated with the real estate “boom,” Ken says, they’re holding steady during the “bust.”

Talk About Shock & Awe!
With Ken’s awesome system, real estate entrepreneurs can base their business decisions on the same types of proprietary data that the banks and major players use. Only with this system, the data are specifically tailored to fit the needs of an array of real estate entrepreneurs, regardless of investment strategy, experience or style.

To learn more about how Ken translates the “buy low, sell high” adage into hard science and cold cash, join GaryBoomershine.com to check out the replay of our exciting Webinar from Wednesday night. If you can’t make it, feel free to check out my review Ken’s market timing system in the Resources section of GaryBoomershine.com.

We Give you All the Best REI Treats with Absolutely No Tricks!
Not only are we bringing  you this free real estate market timing multi-media  extravaganza with Ken Wade. October is full of free fun at GaryBoomershine.com! 

Up Next Week: Larry Goins’ Ultimate Secret!
Folks, the prices are down and the gloves are definitely off! Next week we’ve got a live Webinar with Larry Goins who will tell you how to create your own Ultimate Buying & Selling Machine and beat your competition without cash, or credit.

Claim Your VIP Pass to Moneymaking Real Estate News, Marketing, Strategies & Tips
Miss this event? Don’t worry! We’re constantly planning great, free opportunities like these for our members here at GaryBoomershine.com.

At GaryBoomershine.com, our focus is on delivering the the most timely real estate news, resources, tools and systems that build stronger real estate investment decisions and boost your bottom line.

Sign up either here or on the main page at GaryBoomershine.com and you’ll get the best this industry has to offer in real estate news, real estate marketing, real estate training systems, and all the creative real estate ideas that drive success in this business. Members also get exclusive access to compelling multimedia content and jaw-dropping discounts!

Don’t miss out on this opportunity to Make Tons of Cash in Real Estate! Join us today and race ahead of the pack!

On Sept. 10, Andy Proper and his partner Justin McCormick are gearing up to launch their new “Virtual Bird Dog Blueprint: An Authoritative Course on Outsourced Lead Generation for Real Estate Entrepreneurs” and some lucky members of the GaryBoomershine.com community have a chance to save $100 on the cost of enrollment.

Scalable REI Technology that Howls at the Moon
This is important to your business because the Web 2.0 technology that now drives our business – and the “Virtual Bird Dog Blueprint” — is gaining a storm-like momentum that will change everything once it has reached critical mass.

This course is not some abstract, pie-in-the sky pre-boxed guru fantasy system. And it couldn’t be a more welcome departure from the norm.  Kudos to Andy and his team on a job well done and to JP Moses of REITips.com, who makes excellent contributions to both the audio and written portions of this course.

The 150-plus pages of comprehensive written content and nine separate, portable audio sessions in the “Virtual Bird Dog Blueprint” instruct you in structuring your own scalable Virtual Bird Dog Network and  unleashing it on your business for optimum results.

Not Just Thinking, But Living Outside the Box
Because the box that dictated their early real estate business was, in its own way, every bit as restrictive, frustrating and suffocating as the air in their former jobs’ cubicles, Andy and Justin quickly learned to think on its outside edge. From there, they gained perspective and began to adapt to the realities of their business acumen and their markets’ pesky variables. With this simple shift in mind-set, everything began to change for the better.

Andy and Justin’s popular Teamwork Lead System software already has etched its own unique niche in the real estate business. It also has to come to define itself as a driving force in the relatively new and rapidly growing virtual real estate investing (REI) movement.

This emerging paradigm of Bird Dog lead generation is now having its day because it’s fast, scalable, cost-effective and because it leverages free Internet technology to tap otherwise difficult to reach markets.

Back-up for your Entrepreneurial Hard Drive
Thanks to the power of the Internet, all these tasks can and should immediately be fully delegated, outsourced and automated so that you can focus on the the aspects of your business that produce the greatest returns on your investment (ROI) of time and money in your business:

• Placing bandit signs,
• Hanging flyers,
• Door knocking,
• Driving for dollars,
• Printing and distributing business card,s
• Running print ads,
• Scouring newspapers and Web sites,
• Pulling and sorting online lists,
• Pulling divorce files, probate files, or NOD lists from the courthouse,
• Driving with magnetic car signs and
• Sending direct mail.

Let the “Virtual Bird Dog Blueprint” Wag your Tail
This training couldn’t be a better departure from the norm. The written materials in this course are well executed, but I admit that listening to the  “Virtual Bird Dog Blueprint” audio content was a high point of this review process for me. The voices and materials presented were so entertaining that I made popcorn and laughed out loud at the entrepreneurial antics Andy describes.

Hearing my snorts and chuckles from the next room, my wife scolded me for “watching a movie” after I had told her that I had some work to finish up the other night. When she heard what I was listening to, she actually took a seat and grabbed some popcorn herself.  When does that happen in this business?

In the Eye of the Virtual Investing Storm
Early adopters of the “Virtual Bird Dog Blueprint” are bound to cash in quickly and maintain a comfortable lead ahead of the competition because these materials give you all the information you need to jump right in and immediately start generating the virtual leads you need to take your business to the next level.

This course is a great option for wholesalers, rehabbers, short sale investors, landlords and anyone else out there who wants in on the ground floor of one of the most awesome lead generation opportunities of our time.

The Bird Dog Days of Summer
Note: The Official Launch of the “Virtual Bird Dog Blueprint” Is Sept. 10 at Noon EDT.
For a limited time on that date only, Andy will give a few of my lucky friends $100 off the price of this moneymaking course. Want to learn more? Check out my new review of the “Virtual Bird Dog Blueprint” in the Resources section of GaryBoomershine.com

GaryBoomershine.com Community: Membership Has its Privileges
Signing up for my monthly newsletter and special reports  always is the best way to ensure you’re first in line benefit from special money-saving promotions. Joining us at GaryBoomershine.com is free and easy — just use the yellow fields at the right side of this page or on the GaryBoomershine.com main page.

Not only do members get my What’s Working and What’s New monthly and special reports. I’m always looking for ways to delight my members with original news and exclusive offers and special discounts on REI training, courses, and virtual and on-line events.

HomeVestors of America, the real estate investment (REI) firm with the ad campaign featuring cave man investor Ug, who carries a club and “Buys Ugly Houses,” has announced that Franchise Brands has bought a majority interest in the company.

Almost 20 years ago, the Dallas-based HomeVestors entered the real estate investment (REI) fray with the mission to buy and sell rehab-ready homes for fast profits. It and sold its first franchise in 1996, and has bought about 35,000 homes since its launch. Last year, HomeVestors bought 6,400 homes and sold 5,000, and in 2006, the company reports that it bought about 7,100 properties.

Since its inception, the company has flourished into a national franchise that specializes in buying — and selling — “Ugly Houses.” Currently, HomeVestors boasts about 230 offices in 35 states franchises sell most of their houses to other investors and first-time home buyers.

HomeVestors’ majority interest buyer, Connecticut-based Franchise Brands, formed three years ago with strong support from the founders of Subway restaurants. who also own Utah-based Bajio Mexican Grill, and Indiana-based Mama DeLuca’s Pizza. Terms of the deal were not disclosed, the Dallas Business Journal reports, but executives say that Franchise Brands is committed to using its resources to advance HomeVestors‘ franchise expansion goals and further develop its business model.

As the number of foreclosed homes continues to skyrocket in many real estate markets, an increasing number of pets are being abandoned by families who are forced to vacate their homes and rental properties. Since the mortgage meltdown began, animal shelters in areas with high instances of distressed properties have been reporting over-crowding, and neighbors complaining about an influx of stray animals roaming streets and alleyways.

Although abandoning animals is illegal, people leaving distressed properties, such as those in foreclosure, often move to locations that don’t allow pets or they find their finances are too strained to continue caring for their pets. Whatever the reason for abandonment, pets often are the helpless victims of their owners’ bad decisions, and the law offers them few meaningful protections.

Where Helping Hands Are Tied
Currently, bank employees, property inspectors and others who enter abandoned homes usually are advised to leave property, including pets, untouched until the foreclosure is complete either for legal reasons, or because because the real estate owned (REO) lenders don’t want responsibility for the animals.

In most states, pets are defined as personal property under the law. Often with foreclosure, property remaining after the home is vacated by distressed homeowners is subject to seizure by the lender. In some states, the law fails to provide for personal property forfeiture until a designated time has elapsed in accordance with the terms of the foreclosure. So, under prevailing laws in many states, REO lenders and others are prevented from removing the pets, even if they would like to help. This is where animals can really fall through the cracks.

Abandoned Homes and Neglected Responsibilities
When people such as property inspectors, REO lender representatives, real estate agents and brokers are allowed to enter an abandoned house, they often encounter the rubble of deliberate destruction. Widespread instances of abandonment-related animal abuse and animal neglect have garnered a great deal of media attention.

The problem is so bad, that even Business Week reports that increasing number of these folks are discovering dogs tied up backyards, cats and turtles in garages, and rabbits and lizards left in children’s bedrooms. Many cruel and unscrupulous homeowners have left forsaken dogs and cats behind inside their homes, who have created unmeasured property damages in the process of their truly horrific demise.

California Lawmakers Tackle the Problem
A new law under consideration in California seeks to make it easier for these pets to get the help they need. It also may effect real estate investors who buy properties where pets have been left behind. The bill, A.B. 2949, as it is currently written, would require anyone who encounters an abandoned animal in a property that has been vacated through lease termination or property foreclosure, to immediately contact animal control officials.

The bill recently made its way through the California House unopposed, and it currently is mid-way through the Senate’s deliberation process. Although the bill has a few more legislative hurdles to clear before it becomes law, it raises some issues that many of us in the REI community might like to address in our business practices.

REO Expert Makes a Difference
Last month, Default Servicing News wrote a great story about Integrated Mortgage Solutions President Cheryl Lang, who has been so touched by the effects of pet neglect and abandonment she’s seen working in the mortgage industry, that she’s launched a non-profit Internet forum she hopes will affect change in how the system handles abandoned pets.

No Paws Left Behind is Lang’s Web site that allows pet owners facing foreclosure in different jurisdictions to log on, type in a zip code, and find the nearest animal shelters in the area. It also provides resources for real estate professionals who encounter abandoned pets in the course of their daily business.

Lang’s efforts began with a dog that was abandoned in a Florida pre-foreclosure her group was servicing. Since there was no animal control in the rural area where she was working, Lang contacted the police. They called the Miami Humane Society, who couldn’t reach the area for five days. Lang and her staff spent the week feeding the dog and making sure he had fresh water. In the meantime, she reports that authorities visited the property several times only to post code violations because the dog had been abandoned.

Look for the Signs
Lang advises real estate professionals to be vigilant for signs of abandoned pets when dealing with distressed properties that have been vacated. Listen for animal sounds coming from the house. Even though you may not be permitted to enter, you can contact the appropriate authorities, including the Humane Society, Animal Control or the police.

Traditionally, unless the animal shows immediate signs of distress, local authorities will post notes on the door to notify the pet owner that he or she is legally bound to care for the pet. Eventually, local authorities will move the pet to a new home or shelter. Because this process too often doesn’t work, Lang’s No Paws Left Behind Web site contains a petition geared to change the legal process from the Federal level to protect the pets.

Do the Right Thing
More distressed homeowners and occupants in transition likely would surrender their pets to animal welfare agencies that rescue pets, if they only knew where to turn. By identifying potential problems before pets are abandoned on your properties, you’re not only protecting your assets, in many instances, you may be saving a life.

Although real estate investors are generally not required by law to take any action to help abandoned pets, many of us want to help when we can because we believe it is the right thing to do. Here are some steps you can take as a real estate investor that may help you to avoid the problems and heartache you’re likely to encounter if you discover abandoned pets on your property:

Seven Ways REI Professionals Can Help Save Pet from Abandonment

1. If you you’re working with distressed homeowners or dealing moving tenants out of a property, ask if they have made plans for their pets.
2. Identify animal welfare organizations and animal control contacts in your area, and keep the contact information on hand.
3. If you know that the occupants are looking for rental properties, suggest they check with the Humane Society or local shelter for pet-friendly rental listings, or advise them to check out Web sites like PeopleWithPets.com, or HomeWithPets.com.
4. Distribute animal adoption literature, or Web resources like No Paws Left Behind whenever suspect it might be useful.
5. After the owners or tenants have moved, ask neighbors if the former occupants had pets. Check to make sure no pets were left behind.
6. Ask people you may have visiting the property to keep an eye out for abandoned pets.
7. Call your local Animal Control, the American Society for the Prevention of Cruelty to Animals (ASPCA), the Humane Society or other shelter for help with rescuing abandoned pets.

Have you encountered abandoned pets in any of your properties? How did you handle it? Please drop us a line and tell us about your experiences. Feel free to share any ideas you think could help other real estate investors who run into the same problem.

Can’t sell that flip? Consider becoming a landlord to generate cash flow while you hold on for better prices.

The Wall Street Journal reports that 2.2 million vacant homes were for sale in Q1, up from 2.1 million in Q4, and about one million more than was considered “normal” before economic crises permeated the market.

The U.S. homeowner vacancy rate, which tracks the number of vacant homes for sale, jumped to 2.9 percent in Q1, up from 2.8 percent in Q4 2007. According to recent U.S. Census Bureau housing data, the vacancy rate has risen significantly since the housing bubble morphed into the mortgage meltdown. Between 1995 and 2005, the rate sat between 1.5 percent and 2 percent.

Families today are no more likely to own their homes now than they were in 2002, despite widespread opportunities, such as subprime mortgages, that were purported to boost home ownership among borrowers with poor credit scores. Related Census data show that the seasonally adjusted share of homes occupied by owners rose to 67.9 percent Q1, up from 67.7 percent in Q4 – this level peaked at 69.3 percent in 2004. These numbers and the credit crunch fuel more speculation that home prices will continue to drop well into Q4 2008.

While the dream of home ownership has become an Ambien-fueled nightmare for many Americans, data show that droves of families who’ve managed to claw their way out of bad mortgage deals are looking for places to live.

There currently are 4.1 million vacant homes for rent, and the rental vacancy rate edged up to to 10.1 percent in Q1. The rental vacancy rate clearly is on the rise since Q4’s rate of 9.6 percent was recorded by the Census. Analysts say however, that the growing inventory of vacant rentals should keep rent prices relatively stable, and help to temper inflation.

For those looking into becoming a landlord, the Boston Globe offers six rules from the trenches that could save you from financial — and emotional ruin.

As Foreclosures Rise, Investors Pull Back: Defaults on home mortgages touched another historic high late last year as foreclosures on adjustable-rate mortgages surged, an industry group reported on Thursday.

5 Ways Real Estate is Better Than Domain Names: 1. Easy financing. 2. Title insurance.3. No “Support” middlemen. 4. Your tenants are your tenants. 5. No one is going to twist the law and steal your house.

Real estate experts say time is ripe to snap up land: While builders need to sell inventory even if it means going without a profit, they should consider buying land for the future when experts predict a shortage of available lots.

U.S. foreclosures soar as borrowers ‘give up’: U.S. mortgage foreclosures rose to an all-time high at the end of 2007 as borrowers with adjustable-rate loans walked away from properties before their payments increase.

Ahead of the Bell: Mortgage Lenders: The financial industry needs $1 trillion in permanent capital to help stabilize and improve the pricing of mortgage assets, but is unlikely to receive it.

A Different Approach to Revitalizing the Housing Market: While U.S. Federal Reserve rate cuts and the economic stimulus package are helpful, they aren´t enough to bring the economy back from the brink of recession. Some mortgage lenders´ decision to temporarily suspend the foreclosure process through “Project Lifeline” is encouraging but more drastic steps need to be taken to help a housing market that is obviously in trouble.

Crisis deepens in U.S. mortgage market: After surging in popularity during the U.S. housing boom, the risky subprime loans now are contributing to a record number of home foreclosures across the country, as many borrowers find themselves unable to pay the exorbitantly high interest rates that are starting to kick in after a few years of paying super-low “teaser” rates.

Investing: Balancing Risk And Opportunity: Prices are down. Inventory is up. And demand for new construction is withering on the vine. The days of flipping houses for a 30 percent markup, it seems, are gone for good. Yet, while some maintain that acquiring property now presents too great a risk, there are those who insist the current market correction spells opportunity for bargain hunters who are willing to wager on the long-term health of real estate.