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Posted by paulwells on January 4, 2005 to Ask Paul Wells
April 10, 2007
Paul Appears on CNBC April 10, 2007
5-minute video of Paul on CNBC, talking about the growing foreclosure rates and the opportunity to help and profit from this trend.
Continue reading "Paul Appears on CNBC April 10, 2007"
Posted by greggdavis at 3:16 PM | Comments (0)
March 10, 2007
Finding Sellers through Notice of Default Lists
Paul,
What have you found to be the most effective way to get people in FC to actually call based on letters from the Notice of Default lists. I send out a number of letters a week but no responses come back!
Michael
Continue reading "Finding Sellers through Notice of Default Lists"
Posted by greggdavis at 11:24 AM | Comments (0)
February 11, 2007
Where can I get the legal forms you talk about?
Can I purchase the leagal forms you talked about in one of your meetings.
such as:
Authorization to release,
Power of Attorney
Warranty Deed
Sales Contract
Sellers Disclosure
Ruby
Continue reading "Where can I get the legal forms you talk about?"
Posted by greggdavis at 7:11 PM | Comments (0)
Can you Short Sale a Rental Property?
Hi paul,
Can you short sale rental property? Any special requirements?
Rodney
Continue reading "Can you Short Sale a Rental Property?"
Posted by greggdavis at 7:10 PM | Comments (0)
Best way to attract private lenders?
Paul,
What is the best way to attract private lenders to fund my deals very
quickly?
Greg
Continue reading "Best way to attract private lenders?"
Posted by greggdavis at 7:09 PM | Comments (0)
January 2, 2007
Why Should a Homeowner Deed you the Property?
Paul,
I've been talking to some homeowners with very little equity, but with multiple liens. To do the short sale I have told them that they need to deed me the property. Many times I am asked why they should do this. I tell them that it is easier to negotiate with the bank if I am on the deed and if sellers 'vaporize' I am not left hanging. Are there other reasons I can give for why I need the deed? These two reasons don't seem to make them feel at ease.
Hal
Continue reading "Why Should a Homeowner Deed you the Property?"
Posted by greggdavis at 9:48 PM | Comments (1) | TrackBack (0)
December 19, 2006
What happens if the Junior Lein forecloses?
Hi Paul,
I just wanted to know what happen if the junior lien foreclose on the property.
1. Can we still offer a short sale on 2nd position?
2. Do junior survive if the property become REO?
Please reply. Thank you.
Sam
Continue reading "What happens if the Junior Lein forecloses?"
Posted by greggdavis at 9:11 AM | Comments (0)
November 3, 2006
New Teleseminar Replay Available!
I had special guest, Gina Clifford on the call the other night, and boy did she deliver some valuable information. She is really an expert when it comes to Short Sales. Basically, that means paying off the bank on someone's property loan, for less than what they owe on the property. This technique goes hand in hand with the Foreclosure Business and pre-foreclosures.
Gina shared some very usable and valuable information about the system she's developed over the years for talking to the bank, talking to the homeowner - she's even paid less than what is owed on other pieces of property - even a car! SHe shared her secrets on my Teleseminar this week, and I've made the call replay available to you!
Click Here to play the mp3 file, or right-click to save it to your computer
Continue reading "New Teleseminar Replay Available!"
Posted by greggdavis at 7:18 AM | Comments (0)
October 9, 2006
How do you explain the options to a Homeowner facing foreclosure?
What are the homeowner in foreclosure options and what do you say when you explain the options to them? Jonny
Continue reading "How do you explain the options to a Homeowner facing foreclosure?"
Posted by greggdavis at 1:33 PM | Comments (0)
October 6, 2006
New Teleseminar Recordings Available
Please take note! Paul's recent free teleseminars for his Bronze Insider's Members are available for download and listening on your computer or mp3 player! Please visit TheForeclosureKing.com to get the worksheets and recordings. Here's a sample: just right-click on the link to save the mp3 file to your computer, or click the link to play right now!
September 20, 2006:
Click Here to Listen on your computer's Media Player: Sept 20, 2006
September 27, 2006:
Click Here to Listen on your computer's Media Player: Sept 27, 2006
October 4, 2006:
Click Here to Listen on your computer's Media Player: Oct 4, 2006
October 18, 2006:
Click Here to Listen on your computer's Media Player: Oct 18, 2006
Continue reading "New Teleseminar Recordings Available"
Posted by greggdavis at 11:21 AM | Comments (0)
October 1, 2006
What's the difference between a short sale and a discount?
Paul, I was at the meeting for SAREIA in San Antonio on May 2, and really enjoyed the information you gave us. I have been buying pre-foreclosure's for about 6 months and have bought 5 properties. I was encouraged to know that most of what I have been doing is right along the lines you talked about. Clearly you’re a foreclosure expert. However, you brought up some interesting ideas that I would like to get further info on:
You talked about how to go about "short selling". I know what Short Sales are but I am confused about the difference between a “short sale” and a “discount”?
Thanks,
Rick Edgerton
Continue reading "What's the difference between a short sale and a discount?"
Posted by greggdavis at 2:31 PM | Comments (0)
July 21, 2006
Multiple Liens
I have just picked up a client that has a new house (no repairs needed) 3years old. they have 2 mortgages, both with the same mortgage company 1st - $119,000 - ARM @ 13.75 tops out at over 16% 2nd...Continue reading "Multiple Liens"
Posted by paulwells at 5:36 PM | Comments (0)
July 19, 2006
50% LTV Deal
When I locate a house and the sales price is 1/2 of the market, How do I approach the seller?? When I use an agent I would look up the cma and show the seller what they could start asking....Continue reading "50% LTV Deal"
Posted by paulwells at 5:28 PM | Comments (0)
July 17, 2006
Starting A Foreclosure Business
I would like to get started in real estate investing and would like to do it with foreclosure homes. Can I start a foreclosure company, how do I do it or is there even any such animal? Thank you....Continue reading "Starting A Foreclosure Business"
Posted by paulwells at 5:19 PM | Comments (0)
Where can I Get Paul's products?
Hi Paul. I was at one of your workshops in Phoenix AZ at the AZREIA office. I remember you giving out portions of your educational material at the workshop. What most interested me was the CD's with scripted dialog on...Continue reading "Where can I Get Paul's products?"
Posted by paulwells at 5:14 PM | Comments (0)
June 30, 2006
Special price plus iPod and bonuses
The next Foreclosure King Bootcamp as been opened for signup as of yesterday. I announced a special price to my list of subscribers, and gave them 24 hours to signup and get some very special bonuses. Some of the bonuses are still available.
Would you like an iPod Nano with all my audio training installed on it? Get to ForeclosureSkills.com before they're all gone.
There's more too! Get to ForeclosureSkills.com as soon as you possibly can!
Paul Wells
Continue reading "Special price plus iPod and bonuses"
Posted by greggdavis at 10:47 AM | Comments (0)
May 26, 2006
From Paul's Desk: continue reading to see photos!
Wow, what a great 3 days at the Foreclosure King Bootcamp May 18th-20th in Golden, Colorado!! All the comments I got back in our post boot camp survey were nothing but positive....Continue reading "From Paul's Desk: continue reading to see photos!"
Posted by paulwells at 10:52 PM | Comments (1)
May 5, 2006
200 offers per month
I heard that you submit 40 to 60 offers to buy per week. I know these are all lowball offers, but my question is what type of forms do you use to submit and how do you submit? If thru...Continue reading "200 offers per month"
Posted by paulwells at 1:28 PM | Comments (0)
May 2, 2006
How to get sellers to a website
Paul, Hi. Would you have recommendations to drive highly motivated sellers to a website? I've created an REI website explaining what I do along with a form for motivated sellers to fill out. Problem being, even with an ad in...Continue reading "How to get sellers to a website"
Posted by paulwells at 12:57 PM | Comments (0)
April 30, 2006
free foreclosure course
How do I get the free mini course? Chas P.S. : great teleconference!!!...Continue reading "free foreclosure course"
Posted by paulwells at 1:50 PM | Comments (0)
How Much To Offer A Bank
What percentage should you ask the bank to accept on your "short sale?" Example: ARV is $200,000, $190,000 mortgage, and the property needs $5,000 in cosmetic repairs. Obviously, there is no equity in the property and therefore the only way...Continue reading "How Much To Offer A Bank"
Posted by paulwells at 12:49 PM | Comments (0)
April 12, 2006
Must have a listing agreement
if a listing agreement is part of the foreclosure package do you try to get out of listing it by telling bank that seller doesn't want to list? if bank insists on listing agreement what should the listing price be?...Continue reading "Must have a listing agreement"
Posted by paulwells at 3:32 PM | Comments (0)
April 10, 2006
Documents I need to have
Paul... I enjoyed your seminar a night or two ago (w/ Mike Butler). In it you mentioned 5 docs that you needed the seller's signature on - 1) obviously the contract, 2) Disclosure of information (from the mortgage co or...Continue reading "Documents I need to have"
Posted by paulwells at 3:16 PM | Comments (0)
April 9, 2006
what to do with this house
A lady will give me her property that is worth 153.000.The value is 170.000,the note is 1379,piti. It was appraised four months ago. Is a cash sale my only option? The interest is 6.6150...Continue reading "what to do with this house"
Posted by paulwells at 3:07 PM | Comments (0)
March 27, 2006
Companies that offer services-too good to be true
What do you think about a company that will teach you how to flip properties, what too look for,were to find them, has a list of preforclosures. Once you find the property you get 1% finders fee. They will then...Continue reading "Companies that offer services-too good to be true"
Posted by paulwells at 7:21 AM | Comments (0)
March 26, 2006
Getting a loan with Govt. Assistance
HI Paul, I want to know if I quailify for gov't assistance in purchasing my first property I'm on currently recieving social security disability and not working a job....Continue reading "Getting a loan with Govt. Assistance"
Posted by paulwells at 8:20 PM | Comments (0)
March 25, 2006
What if they are not in foreclosure yet?
If you find a potential seller, who is getting in trouble, but has not missed a payment yet, and they are nearly 100% financed, how do you structure a deal to help them out? Thanks...Continue reading "What if they are not in foreclosure yet?"
Posted by paulwells at 7:05 AM | Comments (0)
March 24, 2006
Make a presentation to investors
Hi, Paul I reviewed the investor sight, it appears you need to do a presention and prepare proposal for the investors is there anyone I can hire to do the presentation and proposal? I need capital, speaking to a group...Continue reading "Make a presentation to investors"
Posted by paulwells at 7:57 PM | Comments (0)
March 22, 2006
Live Training vs. Courses
Hi Paul: I heard you speak in Portland,Or. Saturday. The information was vaulable and appreciated. I reviewed it with my partner today. We have decided to include you on our educational goals for this next year. I did not sign...Continue reading "Live Training vs. Courses"
Posted by paulwells at 7:52 PM | Comments (0)
March 21, 2006
Paul's Free Teleseminar on Wednesday March 22
Please sign up for a free teleseminar Paul is giving on the evening of March 22! It will be about one hour long, and is beginning at 8pm Eastern Standard Time....Continue reading "Paul's Free Teleseminar on Wednesday March 22"
Posted by greggdavis at 11:40 AM | Comments (0)
March 20, 2006
IRS Codes you should know to be the expert
Paul, I was at a meeting where you were speaking on foreclosures. Your information is outstanding. You mentioned a tax code that reduced or possibly eliminated the tax burden from the 1099 given to the prior homeowner when a home...Continue reading "IRS Codes you should know to be the expert"
Posted by paulwells at 8:34 PM | Comments (0)
Real Estate Training
I am a CPA and am interestred in working for my self. I have been exploring the loss mitigation field to help homeowners retain their homes. I also know that when I cannot help the homeowner, the possibility of investing...Continue reading "Real Estate Training"
Posted by paulwells at 7:38 PM | Comments (0)
February 21, 2006
When do banks entertain a shortsale?
When will a loss mitigator begin entertaining a short sale?...Continue reading "When do banks entertain a shortsale?"
Posted by paulwells at 9:12 PM | Comments (0)
How do I identify myself to Lenders
When you first approach a lender who is foreclosing on a seller, how do you represent yourself? Do you immediately identify yourself as an investor, or do you say that you are consulting with your client, the owner?...Continue reading "How do I identify myself to Lenders"
Posted by paulwells at 8:20 PM | Comments (0)
Foreclosure lists and information
This is very helpful! Should I be able to find a foreclosure listing service like you describe in the yellow pages? What would I look under to find such a service? Thanks!...Continue reading "Foreclosure lists and information"
Posted by paulwells at 8:09 PM | Comments (0)
February 10, 2006
Approaching People in Foreclosure
Paul how do you approach people in foreclosure?...Continue reading "Approaching People in Foreclosure"
Posted by paulwells at 6:31 AM | Comments (0)
Sell a house quickly
What is the quickest way to sell a home when you are doing short sales?
Continue reading "Sell a house quickly"
Posted by paulwells at 6:25 AM | Comments (0)
February 9, 2006
How do I become a Foreclosure Investor
I am new at this. Where do you start first?
Continue reading "How do I become a Foreclosure Investor"
Posted by paulwells at 8:50 PM | Comments (0)
How do you find Foreclosures?
Paul,
What have you found to be the best way to find foreclosures?
Mary
Continue reading "How do you find Foreclosures?"
Posted by paulwells at 6:20 AM | Comments (0)
What is the truth about Foreclosures?
Paul,
I have been to several bootcamps that focused on other areas of real estate investing. Foreclosures were touched on only briefly because the speakers felt it was a very frustrating area to pursue with many ways for the homeowner in trouble to stop or interrupt the foreclosure process. They felt it was a lot of time spent and not necessarily a lot of return. Your experience has obviously been very different. What can we really expect in pursuing this area and what is the best way to get started?
Continue reading "What is the truth about Foreclosures?"
Posted by paulwells at 6:10 AM | Comments (0)
February 8, 2006
Building your real estate team
How do you form a good team...accountant for capital gains issues +, attorney, realtor, rehabbers, etc so you can move your investor business forward?
Continue reading "Building your real estate team"
Posted by paulwells at 7:22 PM | Comments (0)
February 7, 2006
Locate Foreclosures before anyone else
How do you find foreclosures before everybody else does?
Continue reading "Locate Foreclosures before anyone else"
Posted by paulwells at 7:16 PM | Comments (0)
How to use a foreclosure list
I have the foreclosure list for my area....now what? What is the best marketing strategy to use to actually buy a property? I've heard ...in person, postcards, flyers, ????
Continue reading "How to use a foreclosure list"
Posted by paulwells at 7:09 PM | Comments (0)
February 6, 2006
Starting a real estate investing business
If you were starting all over. What would you do first?
Continue reading "Starting a real estate investing business"
Posted by paulwells at 6:55 PM | Comments (0)
Foreclosures and Real Estate Agents
When it comes to dealing with Real Estate agents for foreclosed properties, the agent has a set price even though the property will not move at a retail or close to a retail price. How do I get Agents to understand I'll buy the property now and to let the Mortgage Company or Bank to sell at the price I'm willing to buy?
Continue reading "Foreclosures and Real Estate Agents"
Posted by paulwells at 6:51 PM | Comments (0)
February 5, 2006
Avoiding Dealer Status
Can one avoid being classified as a dealer by setting up a series of LLCs where each one does a limited number of transactions each year?
Continue reading "Avoiding Dealer Status"
Posted by paulwells at 6:45 PM | Comments (0)
Investing in Real Estate with No Money
Hello Paul, Thank You for visiting us in Portland Oregon! How can I get started when I'm living from paycheck-to-paycheck living within our tight means and over-coming this great fear of foolishly stumbling during a progressing transaction by not knowing what to do or doing something wrong?
Continue reading "Investing in Real Estate with No Money"
Posted by paulwells at 6:28 PM | Comments (0)
January 17, 2006
As a real estate Investor, when am I considered a Dealer?
Thanks for the interesting and informative talk in Lake Mary/Orlando, FL recently. Your comments about the number of properties you're finding and working with through your system got me thinking:
What is the possibility of being seen as a "dealer" by the IRS, and what are the specific implications? How can you avoid being considered a dealer?
Continue reading "As a real estate Investor, when am I considered a Dealer?"
Posted by paulwells at 10:01 PM | Comments (2)
January 3, 2006
Foreclosure vs. Other Forms of Investing
Why Foreclosure Investing?
Continue reading "Foreclosure vs. Other Forms of Investing"
Posted by paulwells at 11:47 PM | Comments (0)
January 4, 2005
Ask Paul Wells
Paul is standing by to answer your Real Estate Investing questions. What do you want to know? Please submit your question by typing it here!...Posted by paulwells at 12:39 AM | Comments (7)