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New Success Story: $57,019.84 on Her First Deal
2008-04-29 19:31:00
Posted from the FlippingHomes.com Real Estate Investing Blog New Success Story : $57,019.84 on Her First Deal I just posted a new article + audio to the short sale intensive blog.  This is a really neat story you might want to check out. “Success Story : $57,019.84 On Her First Short Sale Deal (And 2 Reasons It Almost Didn’t Happen)” You can read it / listen to it here… She also gave me her actual photo packet that she had submitted to the lender.  I pasted that below the audio so you can review the photos while you listen. Enjoy! …jp Ps…Remember, the doors slam shut on the short sale intensive tomorrow night.  So please be sure and take a look to see what you think about it, before the opportunity’s taken from you.  It’s the best short sale education on the planet. Audio, Case Studies, short sale intensive shaun mccloskey short sale investing foreclosure investingShare This

Leprechaun Gets Yucky House Leads
2008-04-28 21:06:00
Posted from the FlippingHomes.com Real Estate Investing Blog Leprechaun Gets Yucky House Leads I’ve got a new interview I think you might find interesting. Especially if you’re on the lookout for new, aggressive ways to approach marketing for motivated sellers. Have you ever considered joining one of those big, national affiliate marketing programs? You know, the ones where you get to plug into some sort of brand applied to a mass marketing system, often involving bill boards, TV advertising, radio, slogans, zippy tunes, etc? Honestly, when it comes down to it, I hear a lot from both sides of the fence on this one over the years. Some folks are completely in love with them, swearing there’s no other way they’d ever want to go about marketing for sellers. While others complain about the quality or quantity (too many) leads that they get. But have you ever wanted to peek inside one of these programs, to get a little better look at how/why they’re really s...

Feel Squeamish About Taking Calls From Sellers? Listen to This…
2008-04-22 07:48:00
Posted from the FlippingHomes.com Real Estate Investing Blog Feel Squeamish About Taking Calls From Sellers ? Listen to This... I just posted an audio from Shaun McCloskey on the Short Sale Intensive blog, and I’d like to suggest all of our readers here at FlippingHomes.com go check it out please. It’s a recoreded call between Shaun and a motivated seller — and (in a very small nutshell) it gives you the chance to get inside his head and crawl around while he chats with a seller whose responded to his preforeclosure direct mail campaign. This is the entire call (around 25 minutes I think) and included an honest critique at the end as well. You can catch the blog post and listen to the full audio here… And don’t forget to check out the video tour of the Short Sale Intensive I put together last week, if you’re considering joining before we shut the doors at month’s end. Audio, Commentary, short sale intensive shaun mccloskey short sale inves...

FL Wholesaler and MO Video Guru Do Cool Stuff
2008-04-19 03:36:00
Posted from the FlippingHomes.com Real Estate Investing Blog FL Wholesaler and MO Video Guru Do Cool Stuff I’ve stumbled upon a couple of blog posts from dear friends, and I’d like to recommend them to everyone… 1) “Who Wants to Be a Lifeonaire?” Video guru and all around awesome guy Peter Chung was with us in Baltimore in January for Steve’s “Secret Sauce” event.  The whole event was about getting a life vision, setting goals and putting a business plan and action plan into place that fits with your life’s overall goals, instead of trying to make your life wrap around your business goals. Peter just put up a new article in his blog, sharing some of his candid thoughts/gleanings from our time together.  I think you’ll find it englightening.  A quick excerpt… We all know what a millionaire is, but “What’s a Lifeonaire?” you ask. As you may have gathered already, a millionaire is a person who has an abu...

Short Sale Intensive: A Virtual (Video) Tour
2008-04-18 09:46:00
Posted from the FlippingHomes.com Real Estate Investing Blog Short Sale Intensive: A Virtual (Video ) Tour Ok, so I’ve FINALLY finished putting together the video walk-thru of the Short Sale Intensive. You can watch it here… Look under the third paragraph from the top and you’ll find the video.  I’ve spent nearly the last 3 days straight working on it (I know, I should’ve outsourced it).  But truly, I’ve got so much of my novice video editor blood, sweat and tears poured into this, I’d love your honest feedback. What exactly is this? This is a walk-thru of the private members’ area.  It’s a chance for you to quickly size it up and make a good judgment on whether or not the short sale intensive is the perfect piece of continuing education for you. Maybe it is, maybe it isn’t.  But you’ll likely know for sure by the time the video ends. Who is this for? (and not for?) If you want to do exactly what Shaun’s ...

“Birddogs on Steriods” Steps It Up, Offers Automation
2008-04-11 17:54:00
Posted from the FlippingHomes.com Real Estate Investing Blog "Birddogs on Steriods" Steps It Up, Offers Automation I’m sitting in a hotel room in Tampa, about to go hear Steve in a bit.   But I just got an email I found interesting and thought others might as well. It’s from Andy Proper, half of the dynamic duo of Teamwork Lead System.  Remember these guys from the short interivew I did with them? The pre-story in a nutshell: They’re computer geeks (like me) turned real estate investors who hate the mundate, time consuming tasks involved in marketing their REI business. They were also having a bear of a time finding deals (do they actually sell real estate in Hawaii for less than a fajillion dollars?).  So mash together their computer geekiness, their house flipping endeavors, a hunger for doing it in markets outside Hawaii (I believe “virtual wholesaling” is the buzzword now)… …and you get teamwork lead system. It’s basical...

New “Short Sale Essentials” Video Posted
2008-04-04 22:08:00
Posted from the FlippingHomes.com Real Estate Investing Blog New "Short Sale Essentials" Video Posted Just a heads up to our blog peeps that I just posted up a new video from Shaun McCloskey on our “sister” blog at ShortSaleIntensive.com. It’s called Short Sale Essentials: “What in the World?” and “Why the Heck?” This is in our “lots of free stuff” series for the month of April.  If you’re a flip tips subscriber then you know what I’m talking about. Enjoy! short sale intensive shaun mccloskey short sale investing foreclosure investing, VideosShare This

New Foreclosure Roadblocks From States
2008-04-04 21:42:00
Posted from the FlippingHomes.com Real Estate Investing Blog New Foreclosure Roadblocks From States So according to the Realtor.org buzz today, here’s what some states have been up to: Ohio: Hired 1,000+ attorneys to work with borrowers to block foreclosures (FREE OF CHARGE TO THE HOMEOWNER!) Illinois: Seriously considering a 60-day moratorium on some foreclosures. Maryland: Has already enacted emergency legislation giving homeowners at least 150 days to cure defaults (basically a short-term foreclosure moratorium). Minnesota: Considering requiring lenders to honor all borrower requests across the board for a 12-month deferment. Massachusetts: Starting May 1, borrowers have 90 days to cure any defaults before their mortgage company can start foreclosure. Also noted is that the Mortgage Bankers Association opposes foreclosure moratoriums. So questions to ponder in light of this: Do you think the states are legitimately helping the situation, or are they just delaying the i...

Fancy Pants Investor Loses $82,000 (Video)
2008-04-02 06:53:00
Posted from the FlippingHomes.com Real Estate Investing Blog Fancy Pants Investor Loses $82,000 (Video ) Last week I had the pleasure of getting some face time with my bro Shaun McCloskey amid around 30 other friendly faces at Steve’s Yucky House bootcamp in Baltimore (No, he’s not literally my brother…but definitely my “bro”) If you’ve been around the Flipping Homes community long, you likely know him as a “Short Sale Sherpa” hailing from St. Louis who averages 3 to 5 CLOSED short sale deals a month, with around $10-$15k profit in each of them. Also the instructor extraordinaire for the short sale intensive. And up until last week, one of the proudest claims he could make was that he had NEVER lost money on a real estate deal…until now. Last week Mr. Fancy Pants watched $82,000 flush down the toilet. It wasn’t all bad — he did after all get a very bothersome monkey off his back by selling this particular house ...

Barstool Economics
2008-03-29 05:31:00
Posted from the FlippingHomes.com Real Estate Investing Blog Barstool Economics In response to my “Obama Vs. McCain” post earlier today, Tim (ME) posted a bit of witty wisdom in the forum that I just can’t NOT post here in the blog. Thanks, Tim.  I need this.  Two things I do know about this:       1) It’s quite entertaining, and       2) It’s simply brilliant. Read, and enjoy… Bar Stool Economics: Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this: The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3 The seventh would pay $7. The eighth would pay $12. The ninth would pay $18. The tenth man (the richest) would pay $59. So, that’s what they decided to do. The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw t...

Obama Vs. McCain On Housing (Thoughts?)
2008-03-28 22:57:00
Posted from the FlippingHomes.com Real Estate Investing Blog Obama Vs. McCain On Housing (Thoughts ?) Today, I’m going to stir the pot a bit.  And I’d love to have you chime in with your own comments on this.  If you’re watching the 2008 presidential race continue to take shape, you’ve probably heard of John McCain’s recent response to questions of whether or not the government should step in with relief for homeowners in danger of foreclosure… “I have always been committed to the principle that it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers. …Government assistance to the banking system should be based solely on preventing systemic risk that would endanger the entire financial system and the economy.” To which Barak Obama criticized that such an approach to the mortgage crisis would result in millions of people losing their homes, akin to t...

Outsourcing Your Life (On A Whole New Level)
2008-03-26 22:01:00
Posted from the FlippingHomes.com Real Estate Investing Blog Outsourcing Your Life (On A Whole New Level) I have a short video to share with you below. But first, I should say that sadly I’m losing one of my most valuable assets in a few days: my office manager. Some of you know Karyn Bridges, or have encountered her at some point over email or phone. For a good while now, she’s been a hero behind the scenes of FlippingHomes.com, from juggling the day-to-day customer service to bookkeeping to whatever hair brained scheme I might throw at her. She’s been amazing to work with - you only wish you had someone as awesome as Karyn working for you! But alas she’s moving on. She and Joe (her husband) have actually been planning to go on the mission field (to Ethiopia) for quite some time. So while I’m sad to see her go, I’m also eager to see the exciting stuff in store for her and Joe next. So I’m sitting in the hotel restaurant right now, putzin...

10 Best Places to Get Foreclosure Deals (Really?)
2008-03-24 18:56:00
Posted from the FlippingHomes.com Real Estate Investing Blog 10 Best Places to Get Foreclosure Deals (Really?) I stumbled upon another intriguing piece of news on the Realtor wire today. Apparently the March 19 edition of Forbes magazine contains an analysis of the country’s 100 largest metro areas, and has a “top 10 list” of the best places to pick up a foreclosure deal right now. Their aim was to determine where banks and sellers were offering the largest discounts on foreclosed properties.  Here’s what they came up with… Charlotte, N.C. Raleigh, N.C. Nashville, Tenn. Oklahoma City, Okla. San Antonio, Texas Albuquerque, N.M. Knoxville, Tenn. Seattle, Wash. Indianapolis, Ind. Washington, DC-Arlington-Alexandria, Va. Apparently they’ve differentiated among foreclosure markets where houses can be snagged on the cheap, and those that are actually considered “undervalued”. For instance, there are plenty of homes going for practically noth...

Social Networking for Real Estate Investors
2008-03-21 19:57:00
Posted from the FlippingHomes.com Real Estate Investing Blog Social Networking for Real Estate Investors Today’s flip tip is about how to connect with a bajillion other real estate investors, in a unique and powerful way. In case you don’t know already, there are a couple of EXCEPTIONAL “Web 2.0″ sites that have popped up online for real estate investors. (To which some may retort, “Web two point…wha?”) I’m talking about social networking sites, where you setup a custom profile, tweak it out a bit to fit your personality, then proceed to connect with a myriad of folks who share similar interests, goals, likes, dislikes, etc. Sites like My Space or Facebook… …but instead of teenagers and old classmates, you’re making invaluable connections with other real estate investors, sharing resources, personal tips, war stories and even the occassional deal. One of the two I personally frequent is this one. I’ll share a...
More About: Social Networking

FHA Getting Into The Short Sale Biz?
2008-03-19 20:42:00
Posted from the FlippingHomes.com Real Estate Investing Blog FHA Getting Into The Short Sale Biz? Whilst consuming the day’s real estate news of interest, I ran across an interesting little news bite from Realtor.org I’d like to share with you, and hear your comments on if you’re so inclined. So check this out… Democrats Seek to Aid Home Owners Democrats in both houses of Congress are working to bring legislation to a vote that would target home owners who are facing foreclosure because they can’t pay the escalating interest. Under the program, environed by House Financial Services Committee Chairman Barney Frank (D-Mass.) and Senate Banking Committee Chairman Christopher J. Dodd (D-Conn.), a home owner could contact an approved Federal Housing Administration lender for assistance. The new lender would determine how much the house is worth and how much the home owner could reasonably afford to pay. The existing mortgage holder would then be asked to acce...

Should Craigslist Be Cleared of Housing Bias?
2008-03-18 00:42:00
Posted from the FlippingHomes.com Real Estate Investing Blog Should Craigslist Be Cleared of Housing Bias ? If you’re reading these words right now, chances are very high that you’re at least somewhat familiar with the online über-classifieds destination Craig’s List.  A while back we even did a couple of reviews of Craig’s list-related Real Estate Marketing Service and Teamwork Lead System. What you may not know is that it can be fairly common for some of the housing advertisements on Craigslist to be notably discriminatory.   Ads with statements like: “NO MINORITIES” “Requirements: Clean Godly Christian Male” “Only Muslims apply” Those of us in the real estate business (investment or otherwise) know pretty commonly that, regardless of personal opinion or preference, advertisements like this are a big Fair Housing no-no, and should always be avoided.  But apparently more than a few have been testing the waters over at Craig’s.  A...

Death To Real Estate Pitchinars?
2008-03-15 00:06:00
Posted from the FlippingHomes.com Real Estate Investing Blog Death To Real Estate Pitchinars? Yeah, it’s a made-up word.  I didn’t make it up. Some guy named Steve did (not Steve Cook). But even so, I’ll bet you know exactly what I mean by it, don’t you? If you’ve ever been to a seminar that promised you a quality education but found instead that everyone was really just trying to sell you something else, then you know all too well what I mean. I’ve been there.  We’ve all been there.  And if you’ve ever been to one of our Flipping Homes bootcamps before, then you already know our philosophy is starkly different than most REI educators in this regard. It’s not that we hate buying things, mind you.  The honest truth is we’re all avid consumers and we’re all salesmen when it comes down to it. The problem is the “bait and switch” where you feel promised one thing, only to find yourself getting a fraction of what you felt promised &mdash...

Update from an Ignorant Wisconsin Man: “My Last 4 Wholesale Deals!”
2008-03-13 22:44:00
Posted from the FlippingHomes.com Real Estate Investing Blog Update from an Ignorant Wisconsin Man: "My Last 4 Wholesale Deals!" I stumbled upon a great little post in the forum today, and wanted to share it with anyone in the blogosphere who may have missed it.  We actually get a lot of success stories in there pretty regularly, most of which never find their way to the “success stories” section of our humble little website.  But they really probably should.  I need to be better about that. Anyway this one’s from Nate Andree, or Nate (WI) in the forum. You may remember Nate from his “Ignorant Wisconsin Man Captures 3 REO Flips” case study a little over a year ago.  Since then he’s been blowing and going, and it’s a pleasure to be along for the ride. So here’s the lastest inquiring minds want to know about 4 quick wholesale flips Nate just bagged….. Hi gang,I wanted to share with you what we have been up to the last mon...

From Section 8 Sherpa to Katrina Rebuilder
2008-03-12 04:40:00
Posted from the FlippingHomes.com Real Estate Investing Blog From Section 8 Sherpa to Katrina Rebuilder Thanks so much to SteveW(MD) from the community for posting a link to a story he stubmled upon on NPR today. It’s a short story on Hal Roark and his post Katrina work in New Orleans.  For those who’ve been hanging around here for a while, Hal’s one of the original “gray hairs” from years ago.  You may recall that he authored a killer course on Section 8 / Landlording (currently out of print). But since Katrina, he’s been dedicated to rebuilding. In a few conversations with Steve he’s shared candidly how the post-Katrina rebuilding has become a real ministry for him. This story’s worth a listen (or read) for anyone who wants to catch up on Hal a little, or anyone who wants to ponder some of the other uses for real estate investors besides making gobs and gobs of money. Here’s the interview… Enjoy!  General, hal roark...

New IRS Ruling Effects 1031 Exchanges for Investors
2008-03-10 20:22:00
Posted from the FlippingHomes.com Real Estate Investing Blog New IRS Ruling Effects 1031 Exchanges for Investors According to the Realty Times, the IRS recently dealt out a Revenue Procedure ruling spelling out how “vacation properties” qualify for 1031 exchanges.  Of interest to real estate investors is how it also relates to the exchange of investment properties. Apparently this is ruling is an attempt to clear up an ongoing debate about whether vacation homes are technically for investment or personal use. The new ruling states the property must be held by the taxpayer for a couple of years (24 mos). The holding period is broken into 12-month blocks, during which time the property must be rented at “fair market value” for at least 14 days for each 12-month block. Additionally, the owner can use the property for 14 days or 10 percent of the days rented, whichever is greater, plus a “reasonable” number of days allotted to “maintenance tasks.” Something else...

“If I don’t seem as depressed or morose as I should be, sorry to disapp
2008-03-04 18:50:00
Posted from the FlippingHomes.com Real Estate Investing Blog "If I don't seem as depressed or morose as I should be, sorry to disappoint you." Maybe you’ve seen it by now, maybe you haven’t.  If you haven’t, you should. It’s an inspirational, if bittersweet, lecture by 46-year-old Carnegie Mellon University professor Randy Pausch, given on September 18, 2007. Many thought it was probably the last public speech Dr. Pausch would give anywhere, before dying of incurable pancreatic cancer.  (Doctors have given him a few short months to live.)  But no one knew how far reaching the “farewell lecture” would be thanks to a video camera and YouTube. Standing at the podium in McConomy Auditorium, Randy Pausch didn’t focus on his impending death.  Instead, he celebrated the chance he had been given to live the life he always had dreamed of, and simultaneously challenged everyone else with the powerful lessons his life offer. The cherry on top come...
More About: Depressed

The Power of Peanut Butter Under a Bridge
2008-03-04 17:47:00
Posted from the FlippingHomes.com Real Estate Investing Blog The Power of Peanut Butter Under a Bridge I received an email from Cory Boatright this morning, who’s become a fast friend with Shaun, Steve and I in recent months. Although I found it inspirational, moving and humbling, rest assured it’s not one of those “forwards” of which we all find ourselves the “delighted” recipients from time to time. This is an unpolished, personal account of something unexpected and extraordinary Cory found himself able to be a part of just recently, while at a real estate investing event in New Orleans. What follows is apparently a transcript from an “instant message” chat, where Cory outlined what happened.  It really doesn’t need my explanation - it speaks pretty well for itself, I think. I encourage you to take a moment and read about what happened, then leave a comment below if you’re so inclined, with your own thoughts….. From: Cory Boatright S...

What I learned from a Children’s Place sales girl about real estate inves
2008-02-28 19:46:00
Posted from the FlippingHomes.com Real Estate Investing Blog What I learned from a Children's Place sales girl about real estate investing (sort of)... I read something today that I found amusing, intelligent and true.  And worth sharing. It was from one of the many emails I get from Tampa wholesaler Preston Ely.  He said… Definitely True Statement: To the degree that you resent being sold something, to that degree will you remain BROKE.  And I tell you that with absolute certainty.  Now Preston’s someone who’s obviously got something to sell, and he’s also not afraid in the slightest to polarize an audience of people either for, or against him.  He just “is” who he “is”. But I gotta say, he entertains me.  I don’t always agree with him, but like like the the guilty pleasure of a triple caramel macchiato, I enjoy keeping up with his daily email musings.  (And there are very few people I always agree with, for t...
More About: Real Estate , Sales , Girl

Bank Bandit: “Take My House, I Take Your Money”
2008-02-22 19:00:00
Posted from the FlippingHomes.com Real Estate Investing Blog Bank Bandit: "Take My House , I Take Your Money" I stumbled across an interesting piece of news on the Realtor Magazine today. Apparently some guy walked into a Regions Bank in Athens, GA on Thursday waving a gun around, claiming he was only there to get his money back after the bank had foreclosed on his home. He walks in sporting a black ski mask, hurls the business end of a handgun into the teller’s nose and says, “You took my house, now I’m going to take your money!” Then he makes off with his bag-o-money, feeling like he didn’t really rob anyone, but only took back what was (in his disarranged mind) rightfully his to begin with. Like a Robin Hood…but only for himself. Apparently the bank’s going to try and review foreclosure records to try to identify who the kook might have been.   Hope they catch the schmuck.  Hey, maybe in prison they’ll have some n...

Highest and Best Offer?
2008-02-21 18:46:00
Posted from the FlippingHomes.com Real Estate Investing Blog Highest and Best Offer ? An excellent question popped up in the forum recently that struck me as worthy of blogging a little about Here’s the question, posed by “drewdog”… I talked to an REO agent today about a property I have not yet submitted an offer on and was told there were about 8 offers and that the bank would “probably ask each bidder for their highest and best”.  Could this mean that the offers are coming in low and they want to get the offers higher? Or is this just a tactic used regardless how the offers are coming in? The realtor made it sound like asking for everyone’s “highest and best” was unusual. I thought that with the original offer (having) multiple bids, the bank would just take the best offer and be done with it.  She even mentioned that some offers may come with “escalator clauses”.  If that were so, wouldn’t they already...

“Hidden” Tax Savings for New Investors
2008-02-20 22:05:00
Posted from the FlippingHomes.com Real Estate Investing Blog "Hidden" Tax Savings for New Investors Last Saturday I had the privilege of spending 3+ hours with the incomparable John Hyre. It was another in our series of “Saturday Workshops” in which we take a topic and extract as much information about it as we can, nothing held back, within a few hours privately together. Our conversation was full of juicy ,tax-saving goodness.  But today I’d like to share a segment that’s particularly important for the newer investor, in your first year or so of business. New Investors: You have some very specific, and noteworthy tax deductions available to you - deductions not available to our more experienced crowd.  So today’s flip tip goes out to you.  Hint: It involves how (and when) to write off startup your costs (even going back years prior) It also involves how to save big by writing off your personal property now being used in your business.  ...

Flip This House Fight (Stinkin’ Funny Video)
2008-02-12 02:41:00
Posted from the FlippingHomes.com Real Estate Investing Blog Flip This House Fight (Stinkin' Funny Video ) I just stumbled upon this hilarious video clip on You Tube, and I laughed so hard I nearly shot Starbucks Chia out my nose.  (Yes, I’m in the ‘Bucks for the afternoon.) So the quality’s not so good.  Ok, it’s down right aweful.  It looks like someone actually put their video camera up to the TV screen (Nice!) But if you’ve ever dealt with crazy insane contractors (I know I have!) it’s still worth a moment to pause, enjoy, and maybe leave your own commentary (below) if you’re so inclined… Disclaimer: This is NOT meant as a knock on all contractors.  Just the crazies, more than a few of which I myself seem to have employed at some point! Armando Montelongo, flip this house, Rants, VideosShare This
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Is the Sky Falling With Short Sales? (Part Duex)
2008-02-07 17:47:00
Posted from the FlippingHomes.com Real Estate Investing Blog Is the Sky Falling With Short Sales ? (Part Duex) Ok, so a couple of days ago I posted part 1 of a private coaching call with short sale guys Shaun McCloskey and Cory Boatright. The short version is, it was an important, info-packed call with nothing to sell.  If you’re in the real estate investing business, then I urge you to give it a listen. While these calls are typically private (meant for a small group of people) we decided our conversation was too important to the state of real estate investing today not to share with anyone else in our industry who’s willing to listen. If you remember from part 1, we discussed… What the heck’s going on lately in the short sale industry? . Is the sky starting to fall around us?  Rug being pulled out from under us? . What about a certain little ”title company memo” going around that seems to have taken pretty harsh stance against short s...

Is the Sky Falling With Short Sales? (Part 1)
2008-02-05 23:21:00
Posted from the FlippingHomes.com Real Estate Investing Blog Is the Sky Falling With Short Sales ? (Part 1) If you have any interest in quick-flips and/or short sales, I beg your undivided attention for a moment please.  It’s important, but first you should know … …There’s NOTHING FOR SALE here. So please just put…the wallet…AWAY and just enjoy what we’ve got for you here … How Many Short Sale Experts to Screw In a Light Bulb Again? Ok, so last night I was part of a private coaching call with our own Shaun McCloskey and special guest Cory Boatright. …yep, two of the top short sale sherpas around. Now you might want to know that these calls are intended to be private, only for a small group of people. But frankly the stuff we discussed here is just too important to our industry and our community.  So we’ve gone ahead and made the decision to give everyone a fair chance to hear it. Again, let me reitereate — N...

Short Sales, Tax Bills and 1099s: A Fly on the Wall with John Hyre and Shau
2008-01-22 02:59:00
Posted from the FlippingHomes.com Real Estate Investing Blog Short Sales , Tax Bills and 1099s: A Fly on the Wall with John Hyre and Shaun McCloskey A few weeks ago I was part of a rather interesting conversation with short sale guy Shaun McCloskey and real estate tax law guy John Hyre.  I’d like to give you the chance to eavesdrop in on it if you’re interested. What’s it about?  It all came about because John had mentioned that, with the market the way it is today, he’s about to add short sales as an acquisition strategy to his own real estate investing business.  As a part of our conversation John touched on some innovative ways he’s uncovered to be able to offer sellers a possible way to escape the burdensome tax liability that can often follow a short sale. So immediately I figured another “fly on the wall” call would be the perfect way to share with the FH community exactly what John’s keyed into. What we talked a...