Don’t option. Do a Non-Option Option. Post 171


 

Coach Mitch’s REFLECTIONS™

 

The concept of the Lease/Option is great.

A renter signs a lease and also buys the option,the potential,to purchase the home.

Tenants certainly do like the idea of being an owner. They are renting your home because they like it and the prospect of owning the home is appealing.

I have done my share of lease-options over . . .

Read More:Don’t option. Do a Non-Option Option. Post 171

Taxes too high? Add to your real estate investment income. Post 170


MSN.com 4/25/20 By MSN Money staff

The best and worst states for taxes

Where you live can make a big difference in how much you pay in taxes.

States may use similar methods to fund their budgets —taxes on income,sales,property,fuel,alcohol,tobacco —but each does so its own way.There are 50 states in the union and,there are 50 different formulas for collecting taxes. For example,only . . .

Read More:Taxes too high? Add to your real estate investment income. Post 170

You don’t need a real estate license to do Coach Mitch’s $1 Option. Post 169


Coach Mitch’s REFLECTIONS™

 

From time to time the question of licensure comes up,particularly from new clients. For every state,the answer is the same.

 

Sent:Wednesday,April 20,2011 6:09 PM To:Coach Mitch Subject:Real Estate/Realtor Law Idaho

Hi Mitchell,

I looked this info below up today,it sounds like I have to have a Realtor license to do this?

Please advise?

http://irec.idaho.gov/guidelines/guideline02.pdf

. . .

Read More:You don’t need a real estate license to do Coach Mitch’s $1 Option. Post 169

‘Squatter’rent masks regular rents. Flip tax delinquent properties. Post 168


Benefit To US Economy From Deadbeat Squatters:$50 Billion Per Year

ZeroHedge.com 03/30/2011   by Tyler Durden

About a year ago,Zero Hedge first floated the then apocryphal idea that the economy is receiving an implicit boost from the money “saved”by squatters:people who no longer pay their mortgage,but due to banks’unwillingness to have a price discovery event on the home (in the form of an auction on REO or . . .

Read More:‘Squatter’rent masks regular rents. Flip tax delinquent properties. Post 168

The county steals tax delinquent property –from itself. Post 167


Michigan County Treasurer Overruled In Refusal To Give City Right To Buy Tax-Foreclosed Lots At Cost

REJournalOnline’s Tax Deeds Investment Newsletter April 8th,2011

Richard F. Brzezinski wanted to get as much money out of each property tax foreclosure in his county as possible. Unfortunately,this brought him directly up against the his own city government and the Bay County treasurer has been overruled and ordered to sell tax-foreclosed property to the . . .

Read More:The county steals tax delinquent property –from itself. Post 167

Behavior –change your habits for the better. Post 166


Coach Mitch’s REFLECTIONS

 

Not all systems are good.

Think about this idea for a minute. How often do we give in to bad behavior that we know is not good,but we do it anyway.

Our brain and persona are comfortable with our bad behavior. We have internalized (systematized) our bad habits until we no longer even think about them. We just do . . .

Read More:Behavior –change your habits for the better. Post 166

Bad bank loan underwriting persists –tax foreclosures will continue. Post 165


HUD Facing $11 Million in Losses Thanks to Non-Compliant FHA Loans

Bryon Ellis Real Estate Letter By Carole VanSickle  March 10th 2011

In a recent review of more than 250 loans from 15 lenders,HUD’s Office of the Inspector General (OIG) determined that 49 percent of those loans were non-compliant with FHA guidelines and were likely to cost the FHA insurance fund $11 million or more.

OIG recommended that HUD bring suit . . .

Read More:Bad bank loan underwriting persists –tax foreclosures will continue. Post 165

Due diligence –do it or be sorry you didn’t. Post 164


Coach Mitch’s REFLECTIONS

Haste Makes Waste

I am increasingly worried about the lack of due diligence amongst wanna-be real estate investors. One of the more misinterpreted guru sayings is,“You can’t steal a deal if you’re moving in slow motion.” Well sometimes if you move too fast,it is you who is bamboozled.

The voice of experience

I read a blog . . .

Read More:Due diligence –do it or be sorry you didn’t. Post 164

Mortgage Assignments are not legal. Post 163


Warning –Mortgage Assignments are not what you think.

Duncan Wierman  Jan 27,2011

“Mortgage Assignments” are a dangerous,deceptive and short-term strategy. Use it at your own risk.  I am on the war path and very alarmed about many real estate information marketing gurus who are promoting this strategy.   These so called real estate gurus are glossing over the real risks – to the buyer,seller,and “broker” – inherent in this strategy,I . . .

Read More:Mortgage Assignments are not legal. Post 163

Mortgage foreclosures keep on,keepin’on. Post 162


January Foreclosure Activity Continues To Be Depressed Due To Robofraud,  Judicial State REOs Plunge

RealtyTrac by Tyler Durden  02/10/2011

“Unfortunately this is less a sign of a robust housing recovery and more a sign that lenders have become bogged down in reviewing procedures,resubmitting paperwork and formulating legal arguments related to accusations of improper foreclosure processing.”What is interesting is the growing distinction between judicial and non-judicial state REO activity…

A total . . .

Read More:Mortgage foreclosures keep on,keepin’on. Post 162