Man, this is one of the best things I’ve seen all week.  Gotta share it…

www.youtube.com/watch?v=q-RLqLx1iYI

Answering the question in your head…

Yes, it’s a real local commercial.  For a real, local business.  And it’s pure, unadulterated genius, don’t you think?

Memorable Line of the Month…

“A bouncer in Birmingham hit me in the face with a crescent wrench five times…and my wife’s boyfriend broke my jaw with a fencepost…so if you don’t buy a trailer from me…it ain’t gonna hurt my feelings…”

YESSS!!!!

What to do…

Firstly, I’d Tweet or Facebook this if you’re a Tweeter or a Facebooker.  I did…cause I think it’s that awesome.

Secondly…I’d love to hear your thoughts.  Leave a comment below….

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By: Brad Wozny, Author 6 Figure Syndication Secrets

Why Your Business Will Get Punished If You Don’t Remodel It Now

Did you know that the top 5% of the wealthiest people in the world earn nearly 90% of its income?

That’s because there’s a major problem that plagues every financial freedom-craving, money-making, opportunity seeker out there. It’s something that the economic elite have recognized and conditioned themselves to avoid because this problem follows the other 95% of people around like an unknowing shadow.

Often, the problem is so subtle that the signs are missed, and it causes entrepreneurs to put themselves through an unnecessary hell over and over and over again until one day, they finally get fed up, pack up their bags, and sit on the sidelines of temporary defeat.

What’s even worse is that this problem creates a nasty habit in the human psyche, and the cycle begins to repeat itself. Eventually, they become upset with their work environment, feel that they’re truly not earning enough, and get up the guts to jump back in the game. While they may see a win or two when they first start out, they’ll inevitably spiral downward into a financial abyss of defeat once again.

The problem I’m referring to here has a label called “opportunity.”

How the Top 5% Think Differently

There’s a key difference that separates the top 5% of the investors who earn much more than a full-time income from part-time effort … and those who work hard, spend lots of money on programs, books, and weekend trainings, but end up going nowhere quickly.

Those elite investors who have a rock solid investment business which is sustainable and grows are able to do so because they think strategically and not opportunistically.

The following two lists demonstrate what I mean.  Which one are you?

The Average Opportunistic Investor:

• Deal presents itself, jump right in
• Scattered, has no plan, “Just wants to make money”
• Switches investment strategies and tactics whenever market masses do
• Believes they must equip themselves with every strategy, tactic, software system, and tool available to be successful

The Top 5% Strategic Investor:

• Deal presents itself, pursue only if fits their strategy
• Has specific goals and institutes processes to “grow a business”
• Switches investment strategies and tactics only after their business goals are met and are then reassessed
• Acknowledges and understands that only several strategies, tactics, a few business basics, and key tools are necessary to have a considerable financial impact and build a massive business from home

Putting Property Investing and Home Businesses into Perspective

No matter how you cut it, the opportunity seeker is doomed to complete failure every time. The opportunistic investor is one who is guided by emotions. And friends, making decisions based upon emotions instead of level-headed thinking that looks at the facts and sticks to basic business and investment fundamentals … well, it’s extremely dangerous.

Bottom line? EMOTIONS = COST. And emotions have no place when it comes to investments. Period.

In fact, whenever I’ve worked with my coaching clients, or spoken in the workshops where I’ve taught throughout North America, I drill away at this point very hard.

Unfortunately, all too often, I see the people sitting in their chairs rolling their eyes or politely nodding their heads while they quietly urge me to “move on to the good stuff.”  And for them, the “good stuff” is just strategies and tactics.

I truly hope you’re not one of those people.

I hope that for your own financial sake, you take this particular lesson to heart and see it for what it is.  If you ignore this powerful, yet simple, lesson, it will indeed cost you your business down the line…and perhaps, even your credit, what you have in your bank, and even everything you own. I guarantee it.  So, stay away from this trap.

Here’s How to Change Your Mind…

From now on, think strategically about everything you do in real estate…

If you have been doing so thus far, kudos to you and keep it up. If you haven’t been, change that behavior and mindset this very instant, and look upon yourself as a strategic real estate investor and business owner rather than an opportunity-seeking money-maker.

A key lesson for you is to match up your goals with your needs and locate the one or two (never more than two) strategies that map back to those criteria.

For instance, if you have very little cash in the bank, and your financial goal is to have a six-figure bank account within 12 months, you need to focus your energies on assigning contracts and double-closing properties. You need to avoid deviating from this business strategy whenever the supposed “next great thing” comes along.

But that’s not enough. The second big challenge you need to overcome is how to distinguish your business in order to stand above the competition and survive today’s marketplace.

Surviving Today’s Ultra Competitive Marketplace

The landscape for building a real estate investment business has changed drastically over the past quarter century. The nature of the beast today is that any investor faces the following……

(This article is from Brad’s 77 Page Shock and Awe Report: Real Estate Investing Doctrine for Today’s Crisis which is currently off market)

About Brad Wozny:

Former forest firefighter and Search & Rescue qualified Infantry Reservist Brad Wozny considers the day he stepped off the 80hr/week corporate treadmill to be “One of the BEST days of my life…”   Within his first 93 days as a real estate investor, he pocketed more than 11 times his annual salary, and now enjoys working whenever, wherever, and however he wants.

Brad is also the highly acclaimed author of the “Shock and Awe Doctrine”, a free report outlining his blueprint for building a 6 figure income and a 7 figure net worth through real estate state investing.

Thoughts? Questions? Comment!

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At least that’s what one of the emails I got afterward called it.

I’m talking about Tuesday night’s live training call with Bob Norton, Craig “The Equalizer” Fuhr and “The Haugs” (wrestling name left off by request).

What we expected to be around 90-ish minutes of chatting about what’s new and what’s paying off in the trenches of flipping homes today, turned into over two hours.  What can I say!…the great questions just kept coming!  What a problem to have…too much good stuff…too little time.

So here’s the full, vitamin packed training session for you…

I broke it down into 5 easier to digest pieces for you (you’re welcome).  You can listen here online or download, I don’t care. Just promise you won’t laugh at Craig’s “making offers on Scotch” comment.  (We really shouldn’t encourage him.)

Now enjoy…

Pt 1 – Special Announcement & What’s Ahead (28:22)
Download audio file (07-09_market_update_1.mp3)
Download MP3…

Pt 2 – Then Vs. Now | Partnering (31:04)
Download audio file (07-09_market_update_2.mp3)
Download MP3…

Pt 3 – The Hougs’ Success Story (27:19)
Download audio file (07-09_market_update_3.mp3)
Download MP3…

Pt 4 – Live, Interactive Q&A (28:05)
Download audio file (07-09_market_update_4.mp3)
Download MP3…

Pt 5 – Live, Interactive Q&A (24:36)
Download audio file (07-09_market_update_5.mp3)
Download MP3…

Re: KISS Flipping Re-Opening

Please note the announcement that we’re re-opening KISS Flipping for a window of time starting Saturday, August 1st at 1pm EST.  We’re only brining 100 more into the KISS Flipping fold and we already have a waiting list. If you want a head start, then be sure you’re on the waiting list.  Fair warning.

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A couple of days ago I got word from Peter Conti of an ominous piece of legislation that just flew through the House and is now apparently being fast tracked in the Senate.

In summary Peter warned this bill threatens to not only severely limit the way creative real estate investors do business, but even more importantly is an inexcusable infringement of the property rights of all Americans.

As a result I posted this: “STOP H.R. 1728: Anti-Property Owner, Anti-America” (And if you didn’t catch it yet, that’ s probably the best place to start before continuing here.)

Basically this bill focuses upon reforming predatory lending practices by imposing a stringent list of requirements on mortgage brokers, servicers, appraisers, etc.  Unfortunately, owner financing gets caught up in the broad strokes, and the impact could be devastating.

So essentially anyone who sells more than one property every three years via owner financing will be in violation unless they are a ‘licensed mortgage originator’.

Controversy Arises Within REI…

What’s interesting is that a number of our industry leaders seem divided on whether this pending bill is a big or small issue, and more importantly whether we should be up in arms over it or not even worry about it much.

Late yesterday (6/11/09) Attorney Bill Bronchick posted this retort, first to a popular online forum, then emailing it out en mass:

From: Bill Bronchick
Re: The truth on House Bill 1787

I’ve received a number of emails from people claiming that House Bill 1787 will eliminate owner financed deals to once every 36 months. This is patently FALSE. Become an informed citizen and read it yourself: http://www.govtrack.us/congress/bill.xpd?bill=h111-1728

This bill aims to include owner financed deals within the definition of “Truth in Lending” law. I’ve always instructed in my courses and seminars that you should comply with Truth in Lending, which requires just a few simple disclosures.

The bill also would, in theory, make a person who sells a home a “mortgage originator”. This would require compliance with RESPA, which I’ve always instructed in my courses and seminars that you should comply with anyway.

Finally, the bill would require that you actually qualify your buyer. It prohibits, “lending without due regard of the mortgagor’s ability to repay”. Duh! Only a fool would put someone in an owner financed house deal without checking their income, debt and credit.

All in all, there’s nothing to worry about here for investors, it’s just a matter of compliance with some federal rules and a couple of disclosures. Any comments or questions are welcome.

Your partner in success,
Bill Bronchick, Esq.

However Other Industry Leaders Strongly Disagree…

Late yesterday, I was invited to attend an impromptu teleconference on this issue, lead by:

• Peter Conti (Longstanding Industry Leader)
• Vena Jones Cox (Industry Leader, Radio Host and RE Goddess)
• Jeff Schiller (Attorney)
• Clint Hinman (Editor, The Noteworthy Newsletter and 15-year veteran of the seller-financed industry)
• Charles Tassell (Lobbyist for National REIA)

Everyone leading this call stated unequivocally their stance that it would be foolhearty to view this bill as “no big deal” to the REI industry or to private property rights.

They also outlined a specific strategy for effectively fighting this bad legislation, including how to be heard and not ignored on this issue by the legislative powers that be.

Listen here Download audio file (06-09_HR1728.mp3)
Or download the MP3 here…

If possible, I urge anyone interested to listen to the entire conference call. It’s only about half an hour long.

The Noteworthy Newsletter is taking it seriously enough to have put up HR1728.org in an effort to unify the REI front online against the bill. They’re view is definitely that this bill is a big problem and that it must be dealt with.  As they put it…

What’s The Problem? Owner financed notes are not loans.  There is no transfer of money, no points or closing costs, and no mortgage brokers involved.  They are not created with the intent of selling them off to government-sponsored entities like Fannie Mae, Freddie Mac, or FHA.  They are installment sales.  The borrower receives no money that must be repaid, only a property on which periodic (read: installment) payments must be made.

Just as egregious is the loss of private property rights.  The government should have no power to legislate how property owners dispense of their properties.  If a property owner is willing to finance the sale of a property to a buyer, whom is the government trying to protect by making the transaction illegal?  States already have usury laws and servicing requirements that protect the purchasers.

If passed by the Senate, this legislation will:

1. Severely limit the number of property owners who can legally owner finance the sale of their properties.

2. Make violators out of everyday Americans who, unaware they are breaking the law, are merely trying to sell their properties and/or offering financing to prospective homeowners who cannot obtain conventional financing.

3. Require obscene amounts of due diligence on the part of note investors to make sure all facets of this legislation have been complied with.

4. Give prospective homeowners even fewer options to realize the American Dream of homeownership.

5. Cost the U.S. taxpayers over $400 million dollars to enforce.

There’s also been interesting “behind the scenes” flurry of emails back and forth over the last few days among REI leaders, with some taking one stance and others taking the other.

Where do I stand?

For what it’s worth, my opinion is still that this is a big issue. I agree with the Noteworthy assessment and Uma Thurman’s sentiment quoted above. I believe this bill should be KILLED as it’s written right now.

Even if it doesn’t directly effect you now, it’s an inappropriate, needless attack on private property owner rights in this country.  The strokes they’re painting with here are needlessly broad and personally I’m asking real estate investors to take it seriously and act against it.

But what do you think?  Which side are you on?  Chime in below and tell us what you think…

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Unless you’ve been hiding under a rock for the last couple of weeks, then you probably know Preston Ely’s re-releasing his Probate course this Wednesday 8/14 at Noon.

Now I’ve had a couple of folks email me asking for my honest opinion.

What’s interesting about this is that I have a rather unique perspective on this, because what most people don’t realize is that…

I actually played a part in making it.

I won’t go into all the details here – feel free to watch the short video clip to the right.  I recorded it a few weeks ago for Preston.

It’s a short bit while we were on vacation, sharing my part in the whole thing. And you get to see my two cutie red heads!  (See video to right)

But let’s just say when you listen to the audios, I’m the other voice you hear. 

Having said that, I actually have a copy of this course – and I see Preston’s added a few nifty bells and whistles.

FYI, it’ll probably sell out Wednesday sometime.

When he re-opens the doors, I believe he’ll have another few hundred (somewhere under a thousand) of them available.  The first batch sold out in 5-ish hours, so if you’re interested you might want to get on the early notification list thingy.

Also, since I have the original audios on my laptop, I went ahead and placed some sample audios below.  These are actual excerpts from the course, to give you a little better idea of what it’s like.

So for what it’s worth, here’s my quick, personal review…

Probates by Preston: The Good

• It’s a solid course, with solid education.
• The audios “rock” in my opinion and should be consumed first
• It’s not boring (think “dialogue” rather than “monologue”)
• In addition to the course audio and manual, you get some other cool stuff, like Preston’s super duper marketing letter, some candid Q&A, etc.
• It’s notably devoid of stuff you don’t need.
• It’s very reasonably priced at just under $300 (much less than most others out there)

Probates by Preston: The Bad

• Personally I think the manual should have been proof read a little better.  The education’s solid, and covers what you need it to.  But frankly there are some grammer mistakes I noticed.  Not a deal killer for most – but I’m kind of an English nerd and anal about such things.
• I also wish the manual had been in a 3 ring binder rather than spiral bound.  But I guess the spiral bound is a little cheaper to produce and fits on a shelf easier.

Probates by Preston: The Bottom Line

The fact is, doing probate deals isn’t rocket science.  I’ve done a number of them myself, using a similar model to Preston’s.

But as with anything, there’s always a learning curve, so why not take short cuts whenever you have the chance?

This course is a solid short cut to a great profit center. If you’re interested in learning how to profit from probate deals, then I’m very comfortable recommending it.

Yes, there are other courses out there, and I honestly I’ve seen a few of them, but not all.  But I know this one’s good for the money.

Stuff to help you figure it out…

When I go to Costco, I lovess me some free samples.  Often I’ll buy stuff only after I’ve had a taste test or three.

So in the spirit of Costco, you’ll find a handful of sample clips from the course audio below…

Probates By Preston: Doors Open Wed. 8/13 at Noon…

Networking With Attorneys

“The Letter”

Probates By Preston: Doors Open Wed. 8/13 at Noon…

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