December 30, 2009 at 7:26 pm #5987
Ok folks, over that last few months we’ve had a lot of fun and have been learning an awful lot about how our system of money and mortgages really works. I don’t want us to stop learning but we need to turn all of our new found knowledge in to closed transactions. I honestly don’t believe there is another organization of Investors that has more answers, more tools, more resources, more knowledge, more honest people and more ability to close successful Creative Real Estate transactions then NARS Associates and Members.
Tool #1: The Incredible NARS Equity Holding Trust
This is our foundation, this is our beginning, this is our core. This is the Swiss Army Knife the Creative Real Estate World. Although its original design was to offer a better and safer way of taking over properties Subject-To, other uses or sub-tools have been discovered or added to it.
What can we do it…
1. As a beneficiary it allows us to control properties we don’t own, didn’t have to pay for, don’t have to make payments on, aren’t responsible for, don’t have to maintain, etc, etc, etc. But, we get to make thousands of Upfront Profits, Net Monthly Cash Flow, Share in Current and Future Equity, Benefit from Note Reduction on payments someone else is making. And all of this for with No Credit and No Money out of our pocket.
2. It’s the Ultimate Flipping “Non” Flipping Tool and eliminates any need for Options, Contracts, Simultaneous or Double Closings. One Sale, One Close is all that’s required. We get paid our entire spread quietly and legally at a single closing.
3. We can control a property while either a Short Sale, Loan Mod, Audit, or Mortgage Settlement is arranged or negotiated and then share in the any Income or Net Profits of a future Sale, all with no risk or liability on our part.
Tool #2: NARS Short Sale Program
However we locate them, by simply gathering all the required documents and supplying those to our Team Leaders, we can make excellent referral commissions without having to work the entire Short Sale process ourselves. We get the unlimited use of someone else’s time, money, negotiating power and resources. And, there are MILLIONS of them available. All you have to do is ask.
Tool #3: Living Free and Clear Mortgage Settlement
Regardless of how you feel about this process, its for real. If you don’t want to use it, then don’t. But, it is still a tool and will remain on our tool belt. I believe, and you have probably read this too, that there is a two maybe three year window of opportunity to use this tool before the “evil bankers” either modify or refinance over 60 million fraudulent loans and change the way they do business.
Members, it only takes two or three of these to change you lives. Can you imagine how it would be to have split over $1.2 million dollars on just one house?
Your mission, should you choose to accept it, is to Make Calls and Make Offers. That’s it, that’s all, nothing more, nothing less. The more calls you make, the more offers you make.
You now have the ability to call up a Seller or their Realtor and tell them you can make them three different offers.
1. Full Price for “Terms” via the EHTrust – Leave all financing and equity in place for ? years. This would require that all loans are current.
2. Short Sale and we will do all the work and provide all the money. The Realtor may possibly make two full commissions.
3. Arrange a Mortgage Settlement, have the Realtor sell the property and split any proceeds of sale with the seller.
If you were a Seller, especially one in distress or facing a possible foreclosure, which one would you choose.
So instead of just lurking on the discussion board all the time and being a cheerleader on the sidelines, why don’t you all get in the game. Pick up the stinkin’ phone and press a few buttons. What’s the worst that could happen for hell sakes. OMG, someone might say “NO”. So hang the damn phone up and call someone else.
If you’re reading this it means you either have all the tools necessary to build yourself an incredible Financial House or that you have them available to you. If you aren’t sure how to use them, that’s where Bill, Dave and Me come in. Become an Apprentice, become a student of the game. Don’t wait for the water to get warm because it won’t happen. It’s as warm as it’s going to get. But, the tide is high and your ship has just come in.
*Any reply posts containing “Yeah Butts”, “Poor Me”, or “Excuses” will be deleted immediately. This will totally be at my discretion. Our focus here will be on what works, not what doesn’t, what we do, not what we don’t do.
Do you dare post? Are you BOLD enough? Are we going to LEARN from your post or will it be deleted before anyone can read it?
Post all your Yeah Butts, Poor Me and Excuses on another thread or start your own that no one will read.
FAIR ENOUGH?December 30, 2009 at 10:33 pm #30857
Yeah Butt could yall make a new section on the board for mortgage elimination?
I miss talking about EHTDecember 30, 2009 at 11:32 pm #30858
Yeah Butt could yall make a new section on the board for mortgage elimination? I miss talking about EHT
I’ll let your Yeah Butt slide on this one only because you are making two very important points with the rest of your post.
1. Could we make a board just for Mortgage Elimination? Well, I suppose that NARS could but the real question is, should we? I think we get more and better posts here on the NARS EHT Topics Board.
2. “I miss talking about the EHTrust”, thus the reason for this thread, SO DO I!
My job, as Training Director is to educate and assist you with the many uses of the EHTrust. If that happens to include the use of the LFC process, so be it. But the main purpose of this board to is introduce, explain, educate, train and motivate you to use the EHTrust for your Creative Real Estate Transactions. This board is not here for just “members”. It is open to everyone who wishes to learn more about the EHTrust, at least the General Board is. We sometimes forget that and go on and on about subjects not related to it.
Perhaps a board regarding “Mortgage Issues”. This may encompass many different mortgage related threads including discussions about certain Lenders, Mortgage Products, Loan Mods, Audits, Settlement, Markets, etc.
Anyone else care to chime in?January 1, 2010 at 2:57 am #30859
what was it wayne Gretzky said: he always missed the shots he didn’t take”
c hJanuary 1, 2010 at 7:28 pm #30860
but Tiger never missed a shot he DID take.January 1, 2010 at 11:11 pm #30861
I’ve started working a NOD type list (pre-foreclosure) by sending out a simple solicitation letter tailored after Scott’s suggestions. Here’s the letter:
December 31th 2009
426 Phillips Ave
Ewing NJ 08618
Dear Property Owner,
If you are under financial stress and have already received a lender’s Notice of Default, or are facing a potential foreclosure of your property, the best strategy is to take control of the situation. The pressure of facing foreclosure can become a major crisis. You must do all you can, quickly, to protect your interests and your credit.
As an investor buyer, there are three primary ways I can help!
I’d be willing to see if we can simply settle the mortgage and possibly eliminate all your back payments, penalties, other charges, interest and a part, or all of the existing mortgage balance…or,
I can either offer you the asking or market price of your property, perhaps more, if you’d be willing to stay on your loan for a few years…or,
I’d be willing to offer you all cash on a short sale basis!
Would any of these options be of interest to you?
If so, please contact me at:-
I’m three days into the mailing and will continue mailing to all the leads that I receive from the list service, daily. They are going out first class in #10 handwritten envelopes. Looks like there will be an average of 15 new prospects per day. Of course I will track the results carefully and plan to telephone screen respondents for suitability. I will also track which program of the three they connect with so that I can fine tune the marketing letter. The list size can be expanded at anytime but requires a geographical shift.
If anyone can add to or improve on, or have other suggestions regarding the letter, please post your thinking. What do you think about including a business card in the mailing?
I’m working on a screening script intended to achieve two things, first to determine their suitability for each program, in the order shown in the letter and second to arrange an appointment to make an offer.
I think there is a logical flow to all this, which to some extent will be controlled by the prospects financial condition and the amount of time available to avoid foreclosure. I really don’t know how this will all work out but I’m sure looking forward to finding out and then adapting as quickly as I can when I perceive a change is needed.February 1, 2010 at 10:11 pm #30862
Short, sweet, to the point and I’ll bet very effective. The only thing I would do is put a rubber stamp on it that reads…
“What your Lender, Realtor, Attorney and Investors don’t want you to know about your Mortgage. It may already be Paid In Full!”
I did that a few years ago, minus the Paid In Full and got a 20 to 30 percent reply.April 15, 2010 at 12:45 am #30863
I hope you and your family a doing well… It’s almost time to fish the Provo river buddy. Sometimes I can’t sleep thinking about my grandfather, his creel filled with grass and 2 trout laying in the bottom at the crack of dawn. Makes my mouth water.
I’ve been away for a while and would like to fire up some calls in about 2 weeks. I’m a little rusty in talking shop so I would like to throw some questions at the board to get back on track. I’m not up to speed on the SS and LFC process so I will stick with Tool #1.
I have some areas I would like to target and need to get phone numbers.
How is everybody else doing out there in NARS land.April 15, 2010 at 12:51 pm #30864
All well, Rick. What’s new?April 15, 2010 at 1:52 pm #30865
What are you working on buddy? Are you working on any of the 3 tools Scott mentioned? If so, how is that going?April 16, 2010 at 6:12 pm #30866
You betcha, Rick. See ya on Facebook…April 27, 2010 at 6:06 pm #30867
scott, your summary is very helpfull; thanks for the effort; when you refer to making calls i would like to know what resource to use: yellow pages??? craigslist adds???
pat kaydaApril 27, 2010 at 8:27 pm #30868
scott, your summary is very helpfull; thanks for the effort; when you refer to making calls i would like to know what resource to use: yellow pages??? craigslist adds??? pat kayda
Other than the referrals I get from Realtors and other Investors, which amounts to only a half a dozen per week and writing down numbers on yard signs, the only thing I’ve ever called from is the Newspaper and my local ForSaleByOwnwer.com. I’ve never even seen craigslist.
I still make at least one offer per day and get two or three signed NEOs per week back. Here’s something you may find interesting and maybe even mind blowing. “I’, TURN DOWN 90% of the NEOs I get back.
DO NOT waste your time marketing a property you will never get an RB for. If it doesn’t fit the mold or you can’t make it fit, WALK AWAY or make another type of Offer, such as a Short Sale. Don’t try to put a square peg in a round hole.April 28, 2010 at 8:29 pm #30869
I still make at least one offer per day and get two or three signed NEOs per week back…
How many calls to get to the one offer per day? Getting 2-3 per week back is great. If you have 8 offers signed per month sounds like you accept 1. What does this offer look like? Is it a EHT Long Term hold? Are you getting 5 percent up front? If not are these Short sales?
Any chance of getting a recording of your conversation with the owner? This would be a huge help. Thanks.June 15, 2010 at 7:07 pm #30870
How many calls to get to the one offer per day?
Already answered in your Marketing Tips post http://www.landtrust.net/board/viewtopic.php?t=8485
Scott makes as many calls as necessary to get one offer out (NEO).
What does this offer look like?
I am willing to venture it is a NEO that he likes.
Is it a EHT Long Term hold?
Scott’s favorite method of acquiring properties.
Are you getting 5 percent up front?
Last I heard he was not getting 5%. Remember, 5% is just a figure to simplify the upfront contribution. It is the closing costs and the extra payments you get. Bill stated that he his more interested in credit history these days than the amount of up front money.
If not are these Short sales?
Answered in the marketing tips post of yours.
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