All Forum Posts by: Tom Bukacek

Probably the easiest thing is to perform the short sale and have him be the Realtor listing the property. You get the paperwork signed, do the negotiating with the bank, make the profitable transaction however you do it, and he earns a commission when the property is sold.

Is this cynicism I am sensing from this group?

The following are excerpts from an article on Reuters.com:

"Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage debt of millions of Americans who owe more than what their homes are worth... The actual vehicle for the bailout could be the Bush-era Home Affordable Refinance Program, or HARP, a sister program to Obama’s loan modification effort. HARP was just extended through June 30, 2011... Morgan Stanley is pushing a mortgage relief plan directly to Congress. On August 3, a top Morgan Stanley economist recommended to the Senate Budget Committee that Fannie and Freddie ease their lending standards to allow millions of Americans to refinance their mortgages."

Is this a real bailout for homeowners or just a well veiled bailout for the banks?

Anything by Dan Kennedy is good marketing advice. Frank Rambauskas (sp?) has great books, such as 'Selling Sucks', that goes over how to use online marketing effectively.

To paraphrase a wise man: 'it's not how much it costs, it's how much you get in return'.

If Bob or anyone else spends $2500 or even $25000 to get educated and this education propels his career to the point that he's making 6 figures every year from his business, then the return on investment is solid. It's a smart decision; probably one that should be duplicated by others.

I just don't buy the 'it's available on websites or online or in a library' argument. I know 1 person out of several investors who got started solely by reading a book. Most people require the assistance of a mentor or a more sophisticated educational process, just like any other industry or business.

Unfortunately, the majority of people who argue vigilantly against investing in education or working with a mentor never actually close a real estate transaction.

I've been a part of 3 transactions that involved none of my own money...it's a thing of beauty. You can have your Sistine Chapels and Mona Lisa's; I'll take the profitable transactions without using a single penny anyday!

The fix to the problem is simple:
1- require 2 forms of legal I.D. to qualify for any social service
2- require 2 forms of legal I.D. to enroll children into schools
3- require 2 forms of legal I.D. to rent an apartment
4- fine businesses who hire illegal aliens

What we don't need is a wall. I remember being the country that encouraged other countries to 'tear down that wall' in the 80's. If we cut off free govt education, free govt money, and don't allow living and wage opportunities, then the problem will solve itself.

Mike- depends on your target. I am in Texas and focus on 60 day lates. I received about a 14% response. I mailed the same list a month later and received about a 4%. The foreclosure process in TX is 111 days to I'm guessing I ran into a lot of deserted homes or people who entered into a loan mod program. If your area has a short foreclosure process, then it may just be a quick 1 and done mailer. If a longer, you may be able to get away with multiple mailers.

Besides, tabasco sauce kills all germs and bacteria

I'm not a doctor, but I don't believe pizza ever has to be refrigerated nor does it actually ever go bad. But that's just my opinion.