The Real Estate Sage at The Real Estate Investment Institute - REII

Bryan Tutus writes about Trying to sell retail listings in a wholesale market!!!  About home owners competing with REO's, real estate owned by banks. My question is are there really two markets?

The idea of wholesaling real estate comes from flippers using the term when discounting fixer-uppers and letting other investor finish the work and share in the profit.

The term "Wholesale" in a more classic sense has been applied to REO's, to falsely separate properties offered by individual sellers and similar properties offered by banks.

When appraising a property we used to be able to disregard low priced comparables, if we could show the seller was distressed, and these were uncommon isolated individual sales. Today in many if not most markets REO's are neither isolated nor uncommon and can't be ignored.

Today the REO down the block is a comparable to your home.

Today those wholesale properties are comparables to your home.

Today if you want to sell you'd better be prepared to compete with the so called "Wholesale" properties!

Today no matter what or how many names you give it there is only one market!

If you must talk about multiple markets, let me suggest:

Yesterday, the market for the nostalgic, the delusional, and the dreamers.

Today, the market for bargain real estate, the realistic, and the desperate sellers.

Tomorrow, the market for the patient, the market for the dreamer, and the market for fortunate real estate owners.

Wasn't there a TV them song that went something like:

Or something like that! Well a comp is a comp and no one can discount a comp of course!

Bill

William J Archambault Jr

The Real Estate Investment Institute

Easter like Christmas, New Years and the Fourth of July sparks a resurrection of hope. Easter with the promise of resurrection, with the triumph of hope over adversity, of faith over crisis can't come soon enough this year.

We've faced many a crisis since the start of the American dream, war, moral reform, depression, social ambiguity, and lack of leadership. Never have we so needed a mass exorcism so much as we do today.

We have talked our selves into a real fiscal and moral dilemma. We lack leadership and the pretenders to the throne offer us a communist, a bigot, and a delusional has been.

We have brought the dream of home ownership to more people than at any time in history. Then we have allowed political expediency to dash the dream, steal the spirt, and deny the masses home ownership. All to gain social control and to buy votes.

We have had seven years of the most vile hate campaign ever waged. Indeed between those of us that hate us and the lemming amongst us we are going to in fact may have put and end to our life style. Between those that seek power by mass suppression, those that resent others success, and those who's own failure to achieve, we face societal suicide!

We can only hope, nay pray for the resurrection of hope. The resurrection of the American Dream. The resurrection of sanity!

From Brenda and I we wish you a Happy Easter.

Bill

1% off the discount in the last week sounds great! But, does it offset the extortion of the equity of the stock holders of Bear Stearns? Not long ago Bear Stearns stock was selling over $100.00 two years ago over $170.00 so how does it drop to $2.00 overnight?

What about the tax payers? Ultimately we support the Fed!

This has happened before. Remember the S and L crises of 20 some years ago? Remember, the arborary reevaluating of mortgage holdings, that said that profit making institutions were suddenly unstable! We paid for that, billions and billions and billions of tax dollars. Not to mention the billions of equity destroyed.

Just who's side is the Fed on? Who will invest in the US if we change the rules for political expediency like some third world country?

Just asking. Have the Hate America First People taken over the Fed?

Bill

William J Archambault Jr

The Real Estate Investment Institute

Back in September 2006 I wrote Wake Up And Smell The Smoke About over sleeping, a cat, Brenda, lunch, McDonald's, a siren, a fire truck, several yard sales, smoke, a friend, a student's investment houses, a fire, and under-insurance. Today things have changed, a lot!

Today you're a lot more likely to be over insured than under insured.

What could you do with an extra $25 to $75 each month? If you're an investor could you use that much more from each of your properties? $50 to $150? $75 to $225? $100 to $300? $125 to $375? Depending on how many proprties you have you might be talking lunch for two at McDonald's or several good dinners with wine and a generous tip.

With declining property values you may be paying for a lot more hazard insurance than you could ever collect on! I'm simply suggesting that you get an anointment with your insurance agent, know the current value of your properties and the mortgage balance on each (you'll have to maintain insurance in accordance with your mortgage) and review possable savings. This is also a good time to consider the amount of liability insurance and your umbrella coverage you carry. Don't know about umbrella coverage? This is the time to talk about it.

Bill

William J Archambault Jr

The Real Estate Investment Institute

©REII

A friend came across a title of mine that should have lead to an earlier attempt at pod-casting,it didn't. So he ask about it. It's considerably more important today than it was when I wrote it in 2006.

Here is the link: http://realestatesage.info/2008/03/08/httpwwwflippingforfunandprofitinfo.aspx

If you were to read it at Beat The Sharks You would have seen what our friend Brian Brady said about it:

"You are the Harvey Mackay of foreclosure real estate...now I feel....well...kind of...shark-proof "

Being compared to Harvey Mackay by Brian Brady, no less. I loved it.

The original article was written to be included in my book "Flipping For Fun And Profit" I published it to promote the book.

Thank you for asking.

Bill

William J Archambault Jr

The Real Estate Investment Institute

My experiment in Pod-casting. I've been playing with Pod-casting for several months now and I think I've got it working. I've been recording and editing with a share ware program called "Aduacity" and publishing to my "Go-Daddy" "blogcast" account http://www.realestatesage.info I'd like feed back on how it comes across

Here is the link:  3/5/2008 4:44 AM/

Thank You,

Bill

William J Archambault Jr

The Real Estate Investment Institute

Almost all of us know or know of someone who's made a million dollars in real estate. In quieter contemplative moments we all look for their inspired brilliance, so necessary for doing well in today's depressed real estate market.

Many perhaps most think it can't be done today. Convinced that like the rail road fortunes of the 19 th century, that opportunity was only open to a few for a very short time. IBM in the last century might be a better comparison because you could have bought as little as one share, but you didn't buy IBM either. You're convinced that the window of opportunity is closed, only those with inspired brilliance got in on it and it can't be done again.

Some believe the TV Gurus that there is a "secret" know only to a few. The "secret" is of course available to them if only they had the time and money to attend a special "boot camp."

Others having listen closely to the religious invectives as those same Gurus preach discover their main tenet is "Do Unto Others!" and correctly find it repulsive!

Many believe they just aren't bright enough to conger up the inspired brilliance necessary to accomplish such success.

Most believe they simply don't have sufficient money. They know "it takes money to make money," "the rich keep getting richer!" Fully believing "it's not the earth the meek shall inherit it's the dirt!"

I've known a lot of real, real estate millionaires. I've helped many of them reach their goals. I've spent most of my life, at least since high school, seeking the company of the most brilliant people I could find. You find what you seek and I've been very successful at it. Based on 39 years in lending and real estate I can tell you brilliance is the least common trait of real estate millionaires!

Real estate does take money! No Money Down, doesn't mean no money! But, it doesn't mean you need a lot of money, only enough to solve some ones problems!

Cavit Robert use to tell a story about a small man approaching a very large mountain man and saying "if I were as big as you I'd go into the woods and find the biggest bear and kill him" to which the mountain man responded "son there's a lot of little bears!"

Today's real estate market offers more opportunity that at any point in our life times! If you're not participating, if you're not succeeding, it's your fault! Money is no obstacle for like the bears opportunities come in all sizes. Most success is not from inspired brilliance, but rather from persistent action! Simple people doing the doable!

Bill

William J Archambault Jr

The Real Estate Investment Institute

I'll be glad when the political season is over. Three major candidates and a fool all insulting our intelligence. I think it will be better when we get to just one fiscally assaulting us. It will certainly be easer to defend against.

How can three Senators and a Congressman all claim to have the solutions to the countries problems and yet not one of them has made such a proposal in Congress?

Oil hit $103.95 today, has any one of these fools proposed drilling in Anware? Has anyone considered what it could do to reduce our National debt? Has our Presidente, proposed tapping the National Reserve? At least until Congress gets Anware producing.

We worry about unemployment, school over crowding, welfare cost, hospitals, and escalating crime, but yet no one considers throwing out or jailing the illegal invaders. If they are so good at building and landscaping why not a chain gang to build that mythical fence we dream of on the Southern boarder?

Congress is obsessed with drugs in sports. Yet the only crime being investigated is lying to Congress, Why not investigate Congressman lying to voters?

The press want major reform in the mortgage market and there is lots of finger pointing and calls for new law. Lots of antidotal conjecture, not one factual study of who created the problem or who broke existing laws. Perhaps we need a Constructional Amendment restricting new laws until all relevant existing laws are enforced or repealed?

Bill