Hey D.C. here,

Ready for another session of Ask DC?
This is a question I got from Alana other day:

Q: “I am doing great at direct marketing and my phone is ringing off the hook, but I am having trouble overcoming seller’s objections. What kind of advice can you offer?”

A: Overcoming seller’s objections can be challenging. It is important to uncover and deal with their questions as it will make them more comfortable with you and the process. You need to become good at dealing with concerns that come up during your meeting.

Remember that at the end of the day, you are trying to sell your services. First you are going to address the objection directly. It is important to know the processes of the short sale. You must have confidence in yourself, your services and especially your team. Remember that you must have honesty and conviction to get the seller to agree to work with you.

The homeowners are in a distressed situation and not many of them understand the processes of a short sale as well as what is going to happen with the bank if they cannot sell their home. Many of them may not have an agent that is knowledgeable in a short sale so therefore many of the homeowners themselves do not know what a short sale is or the process of a short sale.

Many investors are the greatest and most successful at overcoming objections that their homeowners have asked them.
But it wasn’t always this way. It is important to understand the procedure and documents before you meet with a homeowner.

As a benefit by being a part of our program, we will help you overcome the seller’s objections. I teach you how to explain the process to the seller and the realtor so that you can confidently meet with them and overcome any objections that they may have and secure the deal.

That was a great question! I hope I gave you some useful tips on overcoming sellers’ objections.

Thanks for another great session of Ask DC.
Keep those
questions
coming and I’ll keep the
information rolling!

Until next time,

DC

P.S. Module 1 of my Foreclosure Investing System has great advice and detailed training that will help you reach your goals in the shortest amount of time.

Members—make sure you don’t
skip this one!

Not a member yet? What are you waiting for?
Click here to get started.

If you want to share this valuable information, forward it on to your friends and colleagues. If you have comments, leave them on my blog.

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Hey D.C. here,

Here’s today’s question of the day:

“Hey DC, What are the benefits of wholesaling real estate
in this market?”

Here’s my response:

I’m glad that I received this question. There are several
benefits to wholesaling and this is the perfect climate to
wholesale properties in.

There is virtually no risk in wholesaling a property.
Wholesaling allows you to profit without risking your cash
or using your credit. How do you do this? These types of
contracts that you put down on properties that you are
looking to hold have certain contingencies for inspections
and in those contingencies are risk free clauses.

If you have a contract on a property and cannot find a buyer
for this property, you can get out of the contract with
these contingencies you can just move on from the deal. The
only thing that you have lost is time.

As with short sales, you do not need to put down any money
on the property. One of the ways to put no money down on a
wholesale deal is that you make the earnest money deposit
due after the inspection period. By the end of the
inspection period, you should have your buyer lined up and
can ask them to put up the earnest money to show that they
are serious.

You can wholesale properties anywhere, in high cost areas,
low cost areas, cities, suburbs and rural areas. To start
you should work in one market, preferably close to home. As
a wholesaler you are getting in and out of a property in
weeks, so market downturns really do not affect you.
Remember, you are not required to buy the property if you
cannot find a buyer.

Wholesaling is one of the quickest ways to make money in
real estate without any money or risk to your credit. It is
the perfect time to get into wholesaling properties.
To learn how you can Wholesale Commercial Properties with
nothing down…

Register for this week’s cutting edge training here:

www.dcfawcett.com/now

Talk to you tomorrow,

DC

PS: If you’re going to wholesale deals, why not go for the
big Commercial ones?

One deal can easily net you more than most people make in a
couple of years.

Get educated on this week’s FREE training and see EXACTLY
how you can start doing this right now, regardless of your
current situation.

Register for this week’s cutting edge training here:

www.dcfawcett.com/now

Hey, DC here.

I have an elite training set up for you this
week with a special guest (millionaire real estate
attorney and investor) who is going to show you…

- How to make money in Commercial Real
Estate with no money, no credit, and without
ever needing to apply for a loan…

- How to make money in Commercial Real
Estate without ever closing on the property,
signing for a loan, or taking any personal risk…

(www.dcfawcett.com/now – Click Here And Register For This Cutting Edge
Training )

- How to wholesale commercial properties…

- How to get an automated lead pipeline of
wholesale buyers and sellers…

- How to quickly build a list of wholesale buyers
who have cash to buy properties right now…

- How you can actually wholesale your deals
to him and his network for quick cash…

(www.dcfawcett.com/now – Click Here And Register For This Cutting Edge
Training )

Talk soon,

DC

PS: If you’re going to wholesale deals, why not
go for the big Commercial ones?

One deal can easily net you more than
most people make in a couple of years!

Get educated on this free training and see
EXACTLY how you can start doing this right
now, regardless of your current situation…

(www.dcfawcett.com/now – Click Here And Register For This Cutting Edge
Training )

Hey D.C. here,

This question from Fiona came in the other day:

“I am about to enter in to a contract and I will need to
sell this home quickly. What are some of the ways I can
sell this home quickly?”

Alright Fiona, here’s the deal. Once the property has been
submitted to the lender for their review, it is time to
start marketing the property to find the buyer. But first
you have to figure out who are we looking to sell to and how
they are searching for homes.

So who is purchasing homes in today’s market?

Well, they are first time homebuyers, investors-landlords,
investors-rehabbers and tenants. First time home buyers
want to learn about the home buying process by reading
online, comparing notes with friends and families and
finally by searching online for homes.

It is a fact that 90% of today’s homebuyers start their
search online for homes. Internet home searches were more
likely to be married couple households with a higher income
than those who did not use the internet.

Many of the buyers looked at quality of life factors.
Commute time, public schools and parks, shopping and dining
and community amenities were also considered. Remember to
sell the benefits and talk with agents who have buyers to
find out what the buyers want in a home. That is why it is
so important to find a realtor that is having closings and
can assist you with this type of information.

Networking groups are a great way to sell your property.
There are small real estate groups that have sprung up in
many cities where investors go to network with other
investors. Sometimes we forget that selling a home involves
sales. Sales mean person to person contact, not merely
dropping a home into MLS.

As a benefit of working in our program is that we give you
121 free websites that you can post your property to. These
sites do not cost you anything to post the property to.
Remember that 90% of home buyers start their search for a
property online. The buyers today expect plenty of crisp,
clear photos on the Internet. They trust the data that they
find online and they base their offers off of the
information that they receive online.

Another benefit of working in our program is that while you
are looking for a buyer for the property you do not have to
worry about the negotiations with the bank. We will assist
you with many different ways that you can market the
property to find an end buyer.

That was a great question! I hope I gave you some good advice
on selling your home.

Thanks for another great session of Ask DC. 
Keep those
 questions
coming and I’ll keep the
 information rolling!





Until next time,





DC





P.S. Module 1 of my Foreclosure Investing System has 
great advice
and detailed training that will help you
 reach
 your goals in
the shortest amount of time.

 Members—make sure you don’t
skip this one!





Not a member yet? What are you waiting for?
Click here to get started.





If you want to share this valuable information, forward 
it on
to
your friends and colleagues. If you have 
comments, 
leave
them on my blog.

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Hey D.C. here,

I got this question from Emily other day:

“I am having trouble overcoming realtor’s objections
why they should work with me as an investor. Can you
give me some tips that might help me?”

Ok Emily, here’s my advice: It is very natural for real
estate agents to use caution and have uncertainty when
working with investors. Remember that objections are often
emotional responses to the fear of making a commitment to
work with someone. It is important for agents to understand
the investor’s plans for buying and selling real estate.

Overcoming objections is easier to learn how to do than you
may believe. As you speak with realtors, make a list of
their objections and then write down what your response
would be. After you have written them down, you need to
rehearse them until they become natural to you and you can
deliver them with confidence.

If you have a friend or family member that is a realtor, sit
down with them and ask them how they would overcome the
objection or practice with that friend or family until you
become comfortable. Realtors often speak well with other
realtors, so this will help you learn their language. Once
you learn how to speak “realtor” you will find that it will
be much easier to talk to a realtor.

Often times when you hear an objection, they freeze and
don’t know how to address the objection. This looses
credibility with the agent. Don’t be afraid of objections.
Many times realtors are testing you to see if you know what
you are talking about and how you handle yourself when you
are confronted with a question.

Think about the objection as an opportunity to teach the
agent about what you do. Consider this objection as an
opportunity to close. Many times they will be concerned
about you ability to close. Their concern often times arise
simply because of you presentation, confidence and
conviction.

As a benefit of working with my coaches and loss mitigators,
they will help guide you through the objections that you
have to help you with a response that will get realtors who
will want to work with investors.

That was a great question! I hope I gave you some good advice
on how to overcome realtor’s objections.

Thanks for another great session of Ask DC. 
Keep those
 questions
coming and I’ll keep the
 information rolling!





Until next time,





DC





P.S. Module 1 of my Foreclosure Investing System has 
great advice
and detailed training that will help you
 reach
 your goals in
the shortest amount of time.

 Members—make sure you don’t
skip this one!





Not a member yet? What are you waiting for?
Click here to get started.





If you want to share this valuable information, forward 
it on
to
your friends and colleagues. If you have 
comments, 
leave
them on my blog.

Can’t wait until the next email?


Join my Facebook Fanpage and let’s chat:


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Or follow me on Twitter


Hey D.C. here,

I got this question from Michael the other day, he asks:

“Since the short sale process is so long and paperwork
consuming, how do I manage the sellers’ expectations in
the Short Sale Process?”

Ok Michael, here’s the deal. Sellers want to be handheld
through the process. They are tired of getting harassed by
the lenders and just want to be done with the process of
doing a short sale and to move on with their lives.

When you meet with homeowners who are in a distressed
situation you must set the expectations for the short sale
process. If you teach them the process and follow up with
them to keep them on track with the short sale will lead to
seller satisfaction and more referrals. This will also
prevent them from calling you every time they have a
question or receive a notice in the mail.

Prior to meeting with the homeowner you will need to
effectively communicate the need for cooperation in
obtaining the necessary financial documents the lender
requires.

You will want to have them collect these before you meet
with the homeowner. Have the lender’s short sale package
prepared with the sellers name and address filled in. You
will want to bring a camera to the meeting so that you can
take pictures of the interior and exterior. Have the
sellers make copies of the keys so you can put a lock box on
the day that you arrive to the home.

What happens when you meet with the sellers for the first
time?

When arriving to the property for the first time, make sure
to review the interior and exterior with the sellers. Let
them know that while you are reviewing the property you are
also going to be taking some photos of the property. Once
you have taken the photos, sit down with the sellers and go
over the paperwork with them.

This will allow them to become more comfortable with you,
the material and the process in general. Ask for the
financial documents you asked them to gather. You will want
to explain why these documents are needed, but don’t dwell
on them.

Ask the seller if they have any questions before proceeding
to have them fill out and sign the necessary documents. At
this point you will want to go over the timeline after
receiving a reasonable contract of sale. Most sellers do
not know what a short sale is and are usually surprised at
the length of time it takes to do a short sale.

What should the sellers’ do with the communication that
they receive from their lenders? What about updating the
financials… do they have to send these every month?

Let them know that any documents that they receive from the
lender should be sent to you. Lastly, let the sellers know
that their financial documents will have to be updated each
month until there is an acceptance of the short sale. The
sellers will need to send these documents to you each month
for submission to the banks.

Will the foreclosure process and the collection calls stop
once the short sale is submitted?

The foreclosure process nor collection calls does not stop
while doing a short sale. That is why it is important to
advise your homeowners to notify you when they receive
information from the mortgage company. We do work to keep
track of the foreclosure sale dates and then work to stop
the sales.

By managing the seller’s expectations from the start of the
short sale, this will make the process smoother and less
stressful for all parties.

That was a great question! I hope my answer helps you
understand sellers’ expectations in the Short Sale Process.

Thanks for another great session of Ask DC. 
Keep those
 questions
coming and I’ll keep the
 information rolling!





Until next time,





DC





P.S. Module 1 of my Foreclosure Investing System has 
great advice
and detailed training that will help you
 reach
 your goals in
the shortest amount of time.

 Members—make sure you don’t
skip this one!





Not a member yet? What are you waiting for?
Click here to get started.





If you want to share this valuable information, forward 
it on
to
your friends and colleagues. If you have 
comments, 
leave
them on my blog.

Can’t wait until the next email?


Join my Facebook Fanpage and let’s chat:


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Hey D.C. Here,

Time for another session of Ask DC, this question came from
Jesse.

Q: What does the mortgage settlement that was announced last
week do for struggling homeowners?

A: The five biggest banks in America have signed a $26
billion deal that will let them off with a slap on the wrist
for fraudulently foreclosing on homes in the last couple of
years. This settlement will only affect a small number of
short sales.

According to an article that I read, there are more than 10
million homeowners currently underwater by an average of
more than $60,000.00. If the banks actually give $20
billion in debt relief as a result of this settlement, that
would be sufficient to give $20,000 to 1 million homeowners.

So what are the key basics of the National Mortgage
Settlement?

It is going to provide aid to homeowners needing loan
modifications. The servicers are required to work off up to
$17 billion in principal reduction and other forms of loan
modification relief. This is including first and second
lien principle reductions. This is for only those
homeowners whose mortgage is owned by these banks. For
those homeowners mortgage is owned by Fannie Mae and Freddie
Mac, this settlement does not help them.

In addition to principal reductions, the banks must allocate
funds for other forms of homeowner assistance. Some of
these options include the facilitation of short sales,
unemployed payment forbearance, relocation assistance for
homeowners, waiving of deficiency balances and funding for
remediation of blighted properties.

The banks are required to refinance underwater homes for
homeowners who are not delinquent on their payments but
cannot refinance to lower rates because of negative equity.
The homeowners must be current on their mortgages and have a
loan to value in excess of 100%. The current rate cannot be
lower than 5.25%.

The banks must reform their mortgage servicing practices.
The new standards are to prevent the servicers from engaging
in robo-signing and other improper foreclosure practices.
The standards will require the banks to work with homeowners
on other alternatives before they pursue foreclosure.

The settlement also affords payments to foreclosed victims.
$1.5 billion of the settlement funds will be allocated to
compensation to borrowers who were foreclosed on or after
January 1, 2008. The amount will be approximately $2000 per
borrower depending on the level of response.

The bank’s performance of their obligations under the
settlement will be overseen by an independent monitor. The
banks are to report on their compliance in the form of
agreed-upon metrics and outcome measures. Included in their
compliance they are testing for proper documentation of
foreclosures, loss mitigation offers and proper evaluation
of loan modification applications.

The remaining funds will be paid to the participating
states. This is approximately $25 billion. The funds may
be distributed by the attorney generals to foreclosure
relief and housing programs, including counseling, legal
assistance, foreclosure prevention hotlines, mediation and
community blight remediation.

Clearly this settlement does very little to help the average
homeowner out of foreclosure especially if your mortgage is
not owned by one of the five banks. It is only going to
help roughly 1 million homeowners and in the grand scheme of
things are not a lot of people.

That was a great question! I hope my answer gave
you 
helpful information on mortgage settlement
agreements.

Thanks for another great session of Ask DC.
 Keep
those
 questions coming and I’ll keep
the 
information rolling!





Until next time,





DC





P.S. Module 1 of my Foreclosure Investing System

has 
great advice and detailed training that
will help you
 reach 
your goals in the shortest
amount of time.

 Members—make sure you don’t
skip this one!





Not a member yet? What are you waiting for?
Click here to get started.





If you want to share this valuable information,
forward 
it on
to your friends and colleagues. If
you have 
comments,
leave them on my blog.






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Hey D.C. here,

I got this question from Reggie other day:

“Hey DC, Can you answer this question for me? What is
transactional funding and how does it work?”

Ok Reggie, here’s the deal. Transactional Funding is where
a buyer uses funds for a short amount of time. More and
more investors are using transactional funding for short
sales because the fees are usually lower.

When using transactional funding, there is no credit check
or income verification required. The only requirement for
this type of funding is that you have a buyer lined up to
purchase the property from you. Most funders will fund your
transaction covering all of your closing costs as well as
their fee for the loan of the money associated with the
purchase of the property.

What is the difference between “dry funding” and “wet
funding”?

Dry funding is when the investor used the purchase money
from the end buyer to pass through to his or her purchase
and keep a profit margin in the middle. The investor did
not need any funds to close the purchase. This all changed
due to increased regulatory scrutiny on title companies and
“flip” transactions. Most title companies do not allow a
transaction to close this way.

“Wet funding” means that the investor arranges for a short
term loan to fund the purchase and then resell the property
to earn the profit margin, thus using the proceeds to repay
the loan.

Transactional funders fund back to back transactions and
extended term loans on transactions that are short sales,
Bank REOs, FSBO (For Sale by Owners) and commercial
properties.

Transactional funding has become more and more popular.
Transactional funding does not matter what your credit score
is because your credit is never pulled. For an investor who
has fallen on times and have less than perfect score, this
is the perfect loan.

The most important thing to remember about transactional
funding is that you have to have a buyer under contract
before you can apply for the funding.

When ready to apply for funding, log into your members only
area and fill out the application. We will let you know what
documentation is needed to submit to the funder and assist
you in getting your file ready for closing.

That was a great question! I hope my answer gave you
 helpful
information on transactional funding and its purpose.

Thanks for another great session of Ask DC. 
Keep those
 questions
coming and I’ll keep the
 information rolling!





Until next time,





DC





P.S. Module 1 of my Foreclosure Investing System

has 
great advice and detailed training that
will help you
 reach
 your goals in the shortest
amount of time.

 Members—make sure you don’t
skip this one!





Not a member yet? What are you waiting for?
Click here to get started.





If you want to share this valuable information,
forward
it on
to your friends and colleagues. If
you have 
comments, 
leave them on my blog.





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Hey D.C. here,

I got this question from Kasey:

“What is HAFA and how does it affect investor driven
short sales?”

Great question Kasey, here are my thoughts. HAFA stands for
the Home Affordable Foreclosure Alternatives Program. This
program is aimed at streamlining and to induce alternatives
to foreclosure. Under HAFA, participating banks must work
with you to help you avoid foreclosure.

There are two alternatives that will help you avoid
foreclosure under the HAFA program. Those alternatives are
a Short Sale and a Deed- in-Lieu.

We all know what a Short Sale is, but what is a Deed-In-Lieu
of Foreclosure?

So the definition of a Deed-In-Lieu of foreclosure,
according to HAFA, is the voluntary transfer of ownership
from the homeowner to the servicer. This is all provided
that the title is free and clear of all liens. This is
simply, the homeowner, signs their interest in the property
over to the bank and the bank avoids the costly foreclosure.

So how is HAFA different than a Short Sale?

HAFA is a program that is designed to speed up the short
sale process and gives banks government incentives for each
short sale that is completed. Keep in mind that if the
short sale is not a HAFA short sale, there is no government
incentive for the bank to help the homeowner.

At the end of the process, the homeowner can received up to
$3,000.00 in relocation assistance. However, there is an
exception to the rule for homeowners that have water/sewer
bills or other bills that are outstanding, the payment for
these outstanding bills will be deducted from the $3,000.00.
This results as less money going to the homeowners.

There are requirements that need to be met in order to
qualify for the HAFA program. The requirements are:
• You live in the home or have lived there within the past
12 months
• You have a documented hardship
• You have not purchased a new house within the last 12
months
• Your first mortgage is less than $729,750.00
• You obtained your mortgage before January 1, 2009
• You must not have been convicted within the last 10 years
of felony larceny, theft, fraud, forgery, money laundering
or tax evasion in connection with a mortgage or real estate
transaction.
If you are an investor and you are buying short sales, you
need to stay away from those homes that are in the HAFA
program. The mortgage company will often set the property’s
list price at or above market value which in many cases is
priced too high for the home to sell, given, all the liens
and the state of the current real estate market. It is
unlikely that you are going to get the home sold quickly
when it is priced so high.

That was a great question! I hope my answer gave you 
an
idea of how the Home Affordable Foreclosure Alternatives Program
affects the Short Sale process. 




Thanks for another great session of Ask DC.
 Keep those
 questions
coming and I’ll keep the
information rolling!





Until next time,





DC





P.S. Module 1 of my Foreclosure Investing System 
has
 great
advice and detailed training that will help you
 reach
 your
goals in the shortest amount of time.

 Members—make sure
you don’t skip this one!





Not a member yet? What are you waiting for?
Click here to get started.





If you want to share this valuable information, forward
 it on
to
your friends and colleagues. If you have 
comments,
 leave
them on my blog.





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Join my Facebook Fanpage and let’s chat:


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Or follow me on Twitter


Hey D.C. here,

Here’s today’s question of the day from Don.

Q: What is a straw buyer?

A: A straw buyer is a person who purchases real property
on behalf of another person. A straw buyer is used when
the real buyer cannot complete the transaction for some
reason.

Mortgage fraud is an epidemic that still continues to be
around even after the past few years that we have been
through. It can take form in many different ways whether
it be foreclosure rescue schemes, illegal flipping to straw
buyer scheme. Property flips are not inherently illegal and
not all transactions involving a rapid purchase and resell
are improper.

Straw buying is used in buying homes, where the real buyer
of the property may have poor credit and is unable to obtain
a loan. The real buyer promises to make all the payments and
may compensate the buyer for the use of his or her credit.
Straw buyers are loan applicants used by fraud perpetrators
to obtain mortgage and are used to disguise the true buyer
or the true nature of the transaction. In this case, there
is a mortgage loan on the property and the payments are made
by an entity or person other than the borrower. In some
cases the property is transferred to the straw buyer then it
is rented out to the homeowner who sold the property.

The straw buyer may be a friend, family member or even a
stranger. On an average the straw buyer is paid between
$5,000 to $15,000 to sign the paperwork using his name and
personal information to secure the loan. This individual
has no intention to live in the property or make payments on
the home.

There are many individuals that are involved in this kind of
transaction. Some of them are a realtor, a seller, a
homebuyer, a straw buyer and a mortgage broker. So how does
the straw buyer scam work?

The real estate agent sells the home to a buyer that does
not have good credit and cannot obtain a loan. So the
realtor convinces a different buyer (the straw buyer) to
purchase the home that is in foreclosure and offers him or
her thousands of dollars as a compensation for the use of
their name and credit. The straw buyer then qualifies for
the loan and closes on the property all the while assuming
that the real buyer of the property is going to be making
payments.

Once the real buyer defaults on the payments, it is the
straw buyer(s) credit and that will be ruined. The property
will go in to foreclosure and will have a negative effect on
the other houses in the neighborhood.

That was a great question! I hope my answer gave you
a detailed description of what a straw buyer is.



Thanks for another great session of Ask DC.
Keep those
 questions coming and I’ll keep the
information rolling!



Until next time,



DC



P.S. Module 1 of my Foreclosure Investing System 
has
great advice and detailed training that will help you
 reach
your goals in the shortest amount of time.

Members—make sure you don’t skip this one!



Not a member yet? What are you waiting for?

Click here to get started.



If you want to share this valuable information, forward
it on
to your friends and colleagues. If you have 
comments,
leave them on my blog. 



Can’t wait until the next email?

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dcfawcett.com/facebook

Or follow me on Twitter