Renting Out Industrial Warehouse Properties For Startups

Real Estate Short Sale Investing

Before I begin, you should know my name is Ross Treakle and I interview real estate investors as part of my job.  In each interview I try and pick and pry at each investor to get the highest quality information so that my subscribers can hear up to date, high content interviews.

Below I have taken an exert from the very first interview I ever conducted.  I conducted this interview with my brother, Graham “Mr. Banker” Treakle.  Graham is a short sale investor with special insider knowledge as he has worked in some of the nation’s largest banking institutions. USDA Florida!

 
I always start off every interview asking the speaker to speak briefly about there particular area of expertise.  Below is Graham’s answer to what a short sale is and why banks accept short sales.

“We’ll go over the numbers, Ross. A short sale is pretty simple. If you have a property that’s worth $150,000 and let’s say it has a first mortgage for $100,000 and a second mortgage for $40,000-what that means is the total debt on that property, or the total mortgages, is $140,000. Being a real estate investor, I wouldn’t want to buy a $150,000 house for $140,000. It doesn’t make sense. Housing Markets!

A short sale is when you get the bank to not take $140,000, you get them to take less, like $110,000. The banks are going to do this for several reasons. First, they’re going to have a lot of expenses that are associated with a foreclosure. They’re going to have realtor’s costs, foreclosure costs, holding costs, repair costs-they’re going to have all sorts of fees associated with a foreclosure.

Inevitably, the bank is only going to recoup somewhere around 70% of the value of the property. That’s why banks will take short sales on foreclosures. The natural follow-up to that is, “Why are foreclosures such a hot commodity right now, and why is there a lot of buzz about them?” There are several reasons to that too, and it’s really scaring the banks right now.

The first one is: when I was at the bank and someone had equity in their home and I found out they had equity, I would call them up and say, “Hey, Mr. Smith, I see you have $30,000 in equity in your home. How would you like to get a home equity line of credit?” Or, “How would you like to pay off that car with a home equity loan?”
So banks are constantly calling these homeowners to use equity in their home because there are some potential tax savings in structuring your finances that way. That’s one of the things.  Alabama Rates!

Secondly, inflation is outpacing wage growth. That means what it takes for you to buy milk and eggs today is going to increase faster than how much your earnings are going to increase on average. For instance, if you have someone who’s making $100,000 a year, let’s say inflation is 3% and your raise every year is 1.5%. So inflation is growing at twice the rate your salary is. That’s another component. That means folks are earning less and less, relative to the goods they’re going to have to buy.
The next thing is that a lot of folks may recall this brief refinance boom we’ve been going through, which is pretty important. People went out and got a lot of mortgages called “Adjustable Rate Mortgages,” which have an extraordinarily low interest rate to start, let’s say 3% in some cases. But in a couple of years, maybe two to five, depending on the term of the Adjustable Rate Mortgage, their rate is going to go up, it’s going to adjust upward.

So people went out and bought more house than they could normally afford, or they refinanced, got the low payments, and bought a car that they couldn’t afford if their payment had to adjust upward. What’s going to happen here in the next two to five years is that all of these ARMs are going to be adjusting upward, and that’s pretty critical because people aren’t going to be able to afford them.

They aren’t going to be able to afford them because they didn’t count on it, and also because inflation is outpacing wage growth. All of this sounds great, but you may say, “How is that going to affect my business?” 

Here’s the way it affects your foreclosure real estate business. If you’re in a judicial foreclosure State, where properties that are in foreclosure go through a judicial process before a foreclosure is complete; or a non-judicial foreclosure State, where the properties go through a trustee as they’re going through a foreclosure-you’re going to see less and less equity in these properties. 

So if you know, like I said earlier, that banks are going to take short sales because of the numbers-meaning they have to pay all of these expenses-and the foreclosed properties aren’t going to have a lot of equity in them, you have to be able to negotiate short sales effectively if you’re going to be working in the foreclosure market. 
The foreclosure market represents the most motivated sellers. Traditionally, with motivated sellers, you’ll find really good deals. That’s why banks are going to take foreclosures on the conditions that are spurring on all these foreclosures. It’s an amazing phenomenon that we’re working on right now.

Folks might also ask about a common [inaudible]. Well, what if we’re in a real estate bubble? If we’re in a real estate bubble, that means values are going to go down, which means folks are going to owe more than what their property is worth. Again, negotiating short sales is going to be critical to your success in the foreclosure business. If we’re not in a bubble, that’s fine too.

We already [backed out] the numbers; still negotiating short sales is going to be critical to your real estate business because people are borrowing up to, and sometimes above 100% of the value of their property. Whatever way you slice it, as far as having a skill, negotiating short sales is probably, in my opinion, one of the most lucrative skills that someone can have as a real estate investor.”

I hope the above information gives you some insight into the world of real estate investing and short sales.  Graham has worked very hard at becoming an expert on this topic and is a resource you should inevitably add to your business. 

Starting your own medical billing service can be a great way to make money while helping doctors and patients alike. However, if you want to be successful, there are a few items you need to do in order to get started. In this post, we will explore some of the most vital steps to take when establishing your own medical billing service. So, whether you’re just getting started or you’re searching for ways to enhance your company, read on for tips that will help you be successful! 1. Do your researching. Before you start your medical billing service, it’s critical to do your research and understand the industry. This includes understanding the different types of medical billing services, how they work, and what type of software you’ll need to get started. Furthermore, you should have a good understanding of the laws and regulations around medical billing in your area. Doing your exploration upfront will help you keep away from any potential problems down the road. 2. Look for the right software. One of the most essential aspects of starting a medical billing service is choosing the right software. This software will be responsible for handling all of your clients‘ details, as well as handling payments. There are many different selections out there, so it’s significant to take the time to find one that meets your specific needs. Make sure to read reviews, compare prices, and ask for suggestions from other medical billing service providers before making your final decision. 3. Get structured. Another key to being successful is staying structured. This includes monitoring your clients’ data, meetings, and payments. The more arranged you are, the easier it will be to give quality services and keep your clients happy. There are many ways to get organized, so find a system that works best for you and stick with it. 4. Promote your business. Once you have everything in place, it’s time to start marketing your medical billing service. This can be done through word-of-mouth, online advertising, or even traditional marketing methods like direct mail. No matter how you choose to promote your business, make sure you’re reaching your target audience. 5. Offer quality services. It’s significant to provide quality services if you want to be successful. This includes ensuring that your clients’ bills are accurate and paid on time. On top of that, you should always be available to answer any questions or concerns they may have. By providing quality services, you’ll build a good reputation and attract new clients. 6. Stay up to date. The medical billing industry is constantly changing, so it’s vital to stay up to date on the most recent headlines and enhancements. This includes new laws and regulations, as well as changes in modern technology. By staying up to date, you’ll be able to offer the best possible service to your clients. 7. Be patient. Setting up a medical billing service can be a lot of work, so it’s important to be patient. It takes time to build a client base and create a good reputation. Furthermore, you may not see success immediately, but if you stick with it and offer quality services, you will eventually begin to see your company develop. 8. Employ quality staff members. In order to supply quality services, you need to hire quality workers. This includes people with experience in the medical billing industry. Also, you should look for staff members who are detail-oriented and able to work independently. By hiring quality personnel, you can be sure that your clients will receive the best possible service. 9. Keep learning. The medical billing industry is always shifting, so it’s critical to keep learning. There are always new things to learn, so make sure you’re taking the time to stay up to date on the latest news and developments. Moreover, there are many online resources readily available that can help you enhance your knowledge and abilities. Starting a new medical billing service can be daunting, but with the right preparation and implementation, it can be a huge success. By following these tips, you’ll be on your way to a successful release and a flourishing company. If you have any questions or need help getting started, don’t hesitate to contact us. We’re happy to help in any way we can! https://adclays.com/medical-billing-services/

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