Can a foreclosure on a property be reversed back to a short sale?

This week on AskMike, Mike Moulton discusses a recent real estate deal involving the reversal of a bank foreclosed house back to a short sale status.  Mike discusses the deal overview, the lender involved, and the current status of the deal.

Thanks to Pam from Michigan for writing in.

Be sure to leave your comments below this video. Also, if you missed last weeks’ AskMike video on How To Convince Private Lenders To Loan On Your Deals In This Market then be sure to click that text as a link to view it.

Got a question for Cortney and Mike?  Submit it HERE.

Take care and happy investing, thanks for watching!

Mike

How To Convince Private Lenders To Loan On Your Deals In This Market

Welcome to AskMike, the weekly real estate investor video tips and tricks series on the latest strategies that working in today’s economy.  This week Rick wrote in from Texas and asked us what are the best ways to approach and convince private lenders to loan us money to fund our real estate deals in this market?  There is so much negativity in the media and everyone is not spending or lending now.  Well Rick, now is actually the perfect time. Checkout the video below as to why and what you need to do to approach these guys…

Be sure to leave your comments below this video. Also, if you missed last weeks’ AskMike video on How To Market Houses On A Tight Budget then be sure to click that text as a link to view it.

Also, if you are interested in raising private money to fund your real estate deals checkout the Ultimate Private Money Solution website.

Got a question for Cortney and Mike?  Submit it HERE.

Take care and happy investing, thanks for watching!

Mike

Renegotiating Private Money With Better Terms

With current 5 year CD rates at 2.94%, and dropping, one of the things we’ve been doing is replacing a lot of our private lenders that are at 10, 12 and 15% interest rates with MUCH lower rates. Just think about how much money you, as the real estate investor and holder of the property, could save if you replaced all your 12% money with let’s just say 7%. That’s a 5% savings each year and on just a $100k home that is a $5,000 savings. So, how exactly do you go about it? Read more

The Fed says, “Recession is Likely Over”

I, like many, have my phone set up to receive daily updates on how the stock market is going.  Yesterday I received what struck me as a funny message.  It said, “Fed is likely to keep interest rates at all time low and announce the recession is likely over.”  Well, there you have it.  The Fed said the recession is likely over so get out there and get back to reality.  What a funny statement.  Do they think we were all just waiting for someone to tell us we could go back to life now.  It’s like we were all waiting at the starting line for the gun to go off and someone to tell us it was time to go.

Here’s my take on it . . . Read more

Effective Real Estate Investment Strategies In Today’s Market

This week I answer a question from Mary from Wisconsin (definitely not a “cheesy” question .  Her question was the second question we’ve had in the last few weeks on what real estate investment strategies are working in today’s market. I discuss buying wholesale and selling discount retail and how this works with any marketing strategy.

Be sure to watch the entire video because at the end I provide information on how to attend an 8 hour internet bootcamp at no charge on this topic.  We are putting on this event with Judson Voss of GetRealREI.com.

If you missed last weeks’ video on my Short Sale Deal Case Study – Part 1, then be sure to click the text to see it.

Also, if you have a question that you would like addressed on AskMike, be sure to visit the Contact Us section and send it in.  We will do our best to answer it on an upcoming episode.  Of course we prefer real estate related questions.  I did have someone ask me if my eyes were blue once.  I do like questions about the topic of “me” but probably better to stick with real estate.

Take care and happy investing,

Mike Moulton

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