Turning the Key: Monthly Investment Meeting
October 2nd, 2008: Bankruptcy Report
Register for the October 2nd, 2008 Turning the Key
About five years ago, Mark Klee and Caryn McKinney began delving into pre-foreclosures and soon discovered a large, untapped market niche that many investors know nothing about and seem to be intimidated by...
Bankruptcies
They proceeded to develop a finely-tuned system of digging through the public records to find thousands of highly motivated sellers who are losing their bankruptcy protection!
Mark and Caryn are spreading the good word about bankruptcies as they share their experience and knowledge across the country and we're excited to host them as our guest speakers at Turning the Key!
Investors are thrilled to discover that it is possible to "remove the fear" and simplify bankruptcies as Mark and Caryn make even the details easy to understand.
So, Why Bankruptcies?
Answer
#1: Niche Marketing = Less Competition and
Greater Profits
As an investor, perhaps you have already figured out how easy it is to be unfocussed in the real estate investment business. It used to be that way for my business partner, Mark Klee, and I until we discovered the bankruptcy niche. There really are incredible profits available to you by doing business in this niche market. It remains a niche that most investors do not understand and therefore are afraid to tackle. However, we can show you how to do it with success!
Answer #2: Current Market Conditions Are Ideal
Market conditions are perfect for working with bankruptcy leads right now. Let’s look at what is going on in the real estate market:
- Real Estate Investing Overview
In many areas of the country, investors are finding greater competition for fewer TRULY PROFITABLE deals. Everyone wants to be a real estate investor! The reason why is no big surprise. More Americans have become millionaires from real estate than any other form of investing!
Also, realize that if you are not in a niche market, you are fighting these other investors for the same FSBOs, MLS listings, foreclosures, and wholesale offers from the same or similar resources! Focus on something different and reap the rewards.
- Homeowners Over Their Heads in Debt
Over that past few years liberal lending standards have led many consumers to borrow more than they could afford. At one point, there were over 150 different types of mortgages. Some lenders gave home loans to people, who under more conservative past standards would never qualify for a home loan. These home buyers have enjoyed $0-down mortgages, no-doc loans, ARMs with unrealistically low “teaser” rates on the front end, 106% LTV loans to allow for NO-CASH closings, and even 40-year mortgages! When interest rates go up even slightly above some of the “teaser” rates, we have a situation where many owners have no equity in their homes and cannot afford to pay the higher mortgage. Many of these homeowners find it easier to simply walk away from their mortgages than to deal with their poor financial choices.
- Many Homeowners Prefer Bankruptcy to Foreclosure
Studies show that a loan’s risk of default is tied directly to the size of the down payment: the lower the down payment, the greater the likelihood of default. Even when down payments are made, low interest rates have encouraged an incredible growth of home equity loans and cash-out refinancing, allowing homeowners to take almost all the equity in their homes in the form of cash. More and more homeowners are at risk of defaulting and having their home foreclosed on. These homeowners are looking for solutions to be able to stay in their homes longer. One such solution is bankruptcy. The market is growing.
- Other Contributors to Bankruptcy Market Growth
Adding more fuel to the fire, the Census Bureau recently released statistics showing that the average household spends almost 33% of their income on housing costs. As recently as the year 2000, that figure was a more reasonable 20%! Pile on the data about rising consumer debt burden. Then look at what happens when there is a financial difficulty like the loss of a job, unexpected medical expenses, significant car or home repair, divorce, or any of a zillion other emergencies and it is easy to see how almost ANY disruption in financial circumstances can seriously impact a homeowner’s ability to make mortgage payments.
In addition, as interest rates fluctuate and troubles within the mortgage industry continue to unfold, homeowners with ARMs have found themselves no longer able to afford their home and no longer able to afford to refinance. This is potentially the market segment that is at the highest risk. As well, when the real estate market flattens or dips in a given area, homeowners with interest-only mortgages will also find themselves upside-down in their homes. These situations leave homeowners with bankruptcy and/or foreclosure as their only real alternatives.
Answer #3: Investing in bankruptcy properties can be made simple, regardless of what the world would have you believe!
Wait! Do not run! Do not be afraid! When you cut through all the legal mumbo-jumbo, the details are pretty darn simple. No, you don’t have to be an attorney to invest in bankruptcies. You just have to understand some basic terms and processes. If it were rocket science, we would not have made the all the money we have made! And we’re happy to share our hard-earned lessons so you can have a short-cut to the profits!
Answer #4: Why NOT Bankruptcies?
We cannot come up with an answer to this one! So how can you and your business benefit by these circumstances? Would you like to be able to contact these motivated sellers on the front end of their troubles… BEFORE ANYONE ELSE KNOWS ABOUT THEM? Would you like to enjoy the benefits of contacting homeowners 2 to 4 months before they show up on a foreclosure list? Sure you would! Who wouldn’t? That is the business model we recommend. Marketing to the right homeowners in bankruptcy offers you this valuable opportunity.
Regardless of where you live, where you invest, or how long you’ve been investing,
bankruptcies offer big profits with little or no competition!
If you are looking for a new niche and are willing to learn some simple step-by-step details,
then look into bankruptcies!
You may just find the goldmine you’ve been looking for!
To learn more and see Mark and Caryn live, pre-register for Turning the Key today!
Register for the October 2nd, 2008 Turning the Key
* * * SPECIAL BONUS * * *
When you register today, as an added limited time special bonus, if you're not
already a member, you'll also get a FREE 1 month Silver
Membership (a $97 value!) You're FREE Silver
Membership includes:
- Foreclosure leads in a county of your choice. Find out
about foreclosures, often before the homeowner knows
about them, and either view them online or download the
data directly to your computer or into your database.
$99.97 Included!
- Building Blocks CDs and Transcripts sent out to you by
first class mail each month where we interview other
successful ForeclosuresMass Members and industry experts
and find out what investment strategies are working for
them and what's changing and happening in the marketplace.
$79.99 Included!
- ForeclosuresMass Monthly, our content-packed monthly
newsletter full of articles on successfully investing in
Massachusetts real estate, from interviews with the
experts, success stories, the legal corner, success
strategies, and much more sent out to you by first class mail each month.
$49.97 Included!
- Success Strategies Tele-Coaching Calls Join us each
month for a live Success Strategies Tele-Coaching Call where you'll
hear from real estate experts Jeremy Shapiro and Sheila
Farragher-Gemma as well as special guests on the secret strategies
that are helping new investors put together their first deal and
more experience investors "kick it up a notch!"
$149.97 Included!
- Members ONLY Open Q&A Calls - You've got questions and we've
got answers! Every few months we run an open Q&A call where you get
to literally "Ask the Experts" your burning real estate and wealth
building questions. Don't miss out on these great calls designed to
help you succeed!
$149.97 Included!
- New Member Orientation, where we cover what you need to
know to get the most out of your new ForeclosuresMass
Membership.
$49.97 Included!
Your 1 month Silver Membership is 100% FREE for you to try
and includes all the member benefits outlined above. At the end of the free
1 month membership, you can continue receiving all the
benefits for the lowest membership we offer anywhere of just $97/mo. If at any
time you are not 100% thrilled with your Silver Membership, simply contact us
and we'll promptly cancel your membership for you - no questions asked!
Register now to get this special free Silver Membership as a special added bonus!
Now.... 3 Great Ways to Get into Turning the Key!
Turning the Key Pass
Pickup a Yearly Pass to Turning the Key for the
discounted pre-registration cost of just 10 meetings, and
get 2 Free Meetings AND 9 passes to
other local real estate investment groups! That's
21 meetings for the price of 10!
Pickup a Pass Today!
|
GOLD Membership
Upgrade to a GOLD, GOLD+ or Platinum Membership today and in addition to
the bi-weekly coaching calls, CDs and Transcripts of
Turning the Key, Building Blocks CDs, local foreclosure
data, and ForeclosuresMass Monthly, you also get
a free pass to Turning the Key each month!
Upgrade Today!
|
Pre-Register
Pre-Register online or by giving us
a call at 617.275.4800. In addition to making sure
you're "on the list", saving you time at sign-in and
having a name tag already printed up for you, you
also save $10.00!
Register Online!
|
Turning the Key is a great opportunity to network with other
investors, hear about great topics that you've asked for from fantastic
education focused speakers.
We've been attending networking events (real estate related and non)
for years and know what it takes to put together a great event. Don't
miss out on these great education and networking focused meetings -
every month on the first Thursday of the month.
The agenda is as follows:
6:00pm - 7:00pm GOLD, GOLD+ and Platinum "Closed Door" meeting with Caryn McKinney
6:30pm - 7:00pm New Member Orientation
6:30pm - 7:30pm Registration and Networking
7:30pm - 9:00pm Speaker
Please arrive early to sign in and network, and don't forget to bring
plenty of business cards!
 |
Many real estate brokers are investors like me, but few go so
far as to be educators. In addition to formally teaching courses on
investing, I am always informally educating my clients. I believe the more
knowledge one has as an investor, the more successful and profitable one can
be. The courses provided by ForeclosuresMass are based on precisely this
philosophy. I compare ForeclosuresMass courses to boot camps for the brain.
After an intense day of education, you'll have the confidence and knowledge
it takes to close your first deal.
- David Offutt, Exit Realty
Plus
|
|
