Great News for Investors!
Mike Butler shows you why he has selected Investor Carrot Websites as
The Absolute BEST website for Real Estate Investors
This short video shows you how Brain Dead Simple and it is to make this your Absolute MUST have resource for all serious investors. Investor Carrot website have “built-in SEO” to ensure you get great placement on search engines like Google.
Seriously, take a chill pill, s-l-o-w down and invest 60 minutes of your precious and valuable time to see how this website will be your best ever marketing machine – driving motivated sellers, tenants, buyers, lenders and more to your website.
And Best of All, Mike will show you how you can get your Investor Carrot website for FREE!
CLICK THE PLAY BUTTON BELOW – Then Click Lower Right Corner for Full Screen
61 minute video
Earlier today, a Realtor was found dead in a shallow grave after an intensive 3 or 4 day search for her upon finding her car with purse and cell phone, sitting in the driveway of a house for sale. The Realtor had told her husband she was going to show a house to a buyer and was never seen again.
Mike Butler shared his law enforcement background tips for not only your personal safety and security, but also for all of your contractors and especially your loved ones.
News article below.
45 min unedited audio from a Gold Member Power Lunch.
LITTLE ROCK, Ark. — A parolee accused of abducting and killing a top-selling Arkansas real estate agent had contacted her to set up an appointment to view a vacant house, authorities said Tuesday, hours after discovering the woman’s body in a shallow grave at a concrete company.
Police found Beverly Carter’s body early Tuesday, five days after she went to show the house in a rural area near Little Rock and never returned. Authorities arrested Arron Michael Lewis, 33, on Monday on suspicion of kidnapping, and preliminary charges of capital murder and robbery were added after Carter’s body was found buried at a business where Lewis previously worked.
Lewis, who was on parole for theft convictions, pleaded not guilty to the preliminary charges and remained in the Pulaski County jail Tuesday without bond. It wasn’t immediately clear whether he had an attorney, though Lewis told reporters Tuesday while he was being taken to be questioned by authorities that he did not kill Carter.
When asked why Carter was targeted, Lewis responded: “Because she was just a woman that worked alone — a rich broker.”
Pulaski County Sheriff’s Capt. Simon Haynes wouldn’t say how the 49-year-old Carter was killed or why, but described her as “a target of opportunity” for Lewis. He said Lewis scheduled the appointment to see the home in Scott, about 15 miles east of Little Rock, but wouldn’t say how Lewis learned that Carter was a real estate agent.
Haynes and Pulaski County Sheriff Doc Holladay also wouldn’t say what linked Lewis to the crime.
Prosecutor Larry Jegley said his office is still reviewing the case and that it’s too soon to say whether he would seek the death penalty against Lewis.
“Events like this stain the soul of our community,” Jegley said. “They leave scars, and we know that. And we also know that many of y’all are wanting answers that simply can’t be given at this time.”
Friends, family members and fellow real estate agents joined the search for Carter throughout the weekend. On Tuesday, many of them attended a news conference, wearing red shirts to honor the mother and grandmother.
“If you had a sweet scale, it was Beverly, and then there was sugar, and then there was other sweeteners. That’s how sweet she was,” said David Goldstein, a real estate broker who worked with Carter for more than 10 years. “Now, she was pretty feisty too. In her professional life, if you were being protected by her as a Realtor, if you were her client, that sweet had some teeth.”
Please enter your comments and ideas to share with investors.
I received the article below in an email sent to me from National REIA.
My Short Version Summary of Your Benefits:
1.) Investors who have short saled properties where the lender accepts less than the balance owed, typically had to report the amount of the discount to the IRS as income and pay income tax on the discounted dollar amount. With this new extension, it prevents the IRS from taxing your cancelled debt or the amount of your discount. It appears this expired in 2013; however this new extension act now includes both 2013 and 2014 tax years.
SPECIAL NOTE: If you have short saled any properties in 2013 and 2014, you should verify and make sure your tax preparer knows all of the details on this. I will bet many investor’s tax preparers were aware of the original act, but not this extension.
2.) SELLERS: when buying investment property using “short sale” technique, you have a brand new benefit for your seller. Get it short saled and close before the end of 2014, and they will not get taxed on the amount the lender discounts. HUGE Benefit for your Seller. Once again, remember your seller might check with tax advisor and they may not be aware of this new extension to the Mortgage Forgiveness Debt Relief Act Extension.
Below is the email I received this morning.
Mortgage Forgiveness Debt Relief Act Extension:
Over the course of the first two weeks in July, National REIA’s lobbying arm in Washington, D.C., in concert with National REIA board member and my good friend Tom Zeeb, met with the key sponsors of legislation to extend the short sale tax break retroactively for 2014 and through 2015.
The extension of this tax break, which prevents the IRS from taxing cancelled debt during the utilization of short sales, is critical to restoring the use of short sales.
Since the failure to extend the Mortgage Forgiveness Debt Relief Act into 2014, short sales have fallen dramatically since the passage of the tax break implementation in 2008 to 2013 and through the passage of FHFA’s National Standard Short Sale Program, another product of National REIA’s lobbying arm.
Real Estate Investor Deal Analysis Review Training Audio on Single Family Home
Jimmy Moncrief interviews Mike Butler to conduct a real “Deal Analysis Review” on a single family home that Jimmy wants to buy for a rental.
Back in May of this year, week of the Kentucky Derby here in my hometown, I had the great privilege and honor to meet Jimmy Moncrief and his sidekick and best friend Brad. Both are from Tennessee and were attending their first Kentucky Derby, a bucket list sort of thing I imagine.
Jimmy is one of my Gold Member and he had requested and scheduled a private one on one coaching/mentoring session, but in a very creative and unique way of doing it.
Jimmy wanted to record it as a live interview of a “Deal Analysis Review” on one of his pending leads on properties to buy. PLUS, Jimmy wanted permission to put it on his own website as a podcast thing. Here is the link to Jimmy Moncrief’s website http://realestatefinancehq.com/turn-landlording-autopilot/
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Below is Jimmy Moncrief’s article and link to the podcast interview.
BLINDSIDED! A TRUE NIGHTMARE KILLS a Real Estate Deal for my neighbor.
Last Tuesday, my next door neighbors invited me and Beth out for dinner at a new upscale restaurant in the “NuLu” part of downtown Louisville. (little did we know the University of Louisville basketball team had a game to play at the YUM center. Traffic was horrible.) They wanted to pick my brain about real estate investing and setting up Self Directed Roth IRAs for their two young sons.
This restaurant takes pride in all menu items are from local producers, including beer and wine. For the first time in over 25 years, I had myself an ice cold Pabst Blue Ribbon beer. It tasted pretty good, but not good enough for me to switch back from an occasional Bud Select here and there.
My next door neighbors, Heidi and Sean arrived and were visibly upset. They proceeded to tell me about the bad news they received that morning.
Heidi and Sean were selling their previous home, a nice home with a great view overlooking the Ohio River. After almost of year of trying to sell this unique river home, they finally got a buyer to purchase their previous home for approx. $225,000 AND their closing was scheduled to place this Friday.
Just 4 days before their scheduled closing Heidi gets a phone call reporting their buyers can not qualify now for their previously approved loan.
Because of some new, hidden until now, federal regulations involving flood insurance and FEMA, the flood insurance on this property had increased almost 1,000% overnight!
Yes, when Heidi and Sean owned this home, their flood insurance was about $3,000 a year.
Their Flood Insurance Premium is $23,000.
This can not be true!
What in the world is going on?
What about Real Estate Investors and Homeowners?
What gets my goat is how this new flood insurance pricing program “snuck up” on me, you, Heidi and Sean.
FYI, Heidi owns not one, but 3 Keller Williams offices. One in Louisville, another in northern Kentucky, and a third in southern Indiana.
Heidi is very involved in the real estate market and she was blindsided by this. Not a word in advance from our market industry watchdog groups. (I won’t name any group, but you know what I mean)
Here is the link from National Association of Realtors on this new flood insurance reform act
This is Part 1 – too much to write here.
Part 2 – some research reveals what is going on
Part 3 – new opportunities for creative investors
What are your thoughts?
- What will happen to the market values of homes with high utility bills?
- Will you have a different vision for your rehabs in the future?
- What about selling your rentals to your tenants or others?
FHFA Streamlines Short Sale Standards for Fannie Mae and Freddie Mac
The program attempts to remove barriers created by some subordinate lien holders by limiting subordinate-lien payments to $6,000. This maneuver essentially cuts off any attempts by second-lien holders to negotiate for larger payoff amounts.
New short sale requirements for servicers proposed by the Federal Housing Finance Agency are giving financial firms a battle strategy for dealing with reluctant subordinate-lien holders who attempt to delay short sales on points of negotiation.
Some parties in short sales are able to delay the process by Click Here for Full Video/Article (Members Only)
Ignorance Of The Law
Is NOT Your Get Out Of Jail Free Card
While working my full time job as an undercover police detective, I had the opportunity to see a lot of things “behind closed doors.” One of the most powerful phrases most investors and Americans do NOT understand is the title of this short article. I can not tell you how many folks, after being arrested for a crime, would say “I did not know that was against the law.”
With the help of media and lenders and our economic market today, the word “real estate” has transformed into an almost bad word. In fact, many consumers are looking for ways to “get back” or get even, or sue the very folks who helped them graduate into homeownership. This means me and you have huge targets on our backs.
Be very careful in today’s real estate market. Always use the proper disclosures and always do things the right way, the professional way.
PROTECT YOURSELF NOW! Remember this powerful phrase.
Here’s some simple no-brainer tips and red flags to avoid as a real estate investor.
- NEVER Buy using a Quit Claim Deed
- NEVER do “kitchen table closings.” ALWAYS use a “GOOD and REPUTABLE” real estate attorney or title company.
- ALWAYS buy Title Insurance when you are buying an investment property.
- If you are selling a property and you want to sell it real bad…. Be very careful about what you do to help your seller. Many times a loan officer or loan broker will ask a Seller to prepare another form or they may ask you to just sign this form and they’ll say “We Do This All The Time.” If you hear this phrase, you might want to run. (Remember, ignorance of the law is not a get out of jail free card.)
- AVOID buying using a “Contract for Deed, Land Contract, or Agreement for Deed.” Once again, always have a professional full blown closing with a real estate expert attorney or title company. (It is ok for you to sell on Land Contract or Contract for Deed)
- Some common schemes seen by IRS criminal investigators include:
- “Property Flipping” — A buyer pays a low price for property, then resells it quickly for a much higher price. While this may be legal, when it involves false statements to a lender who is regulated by the feds, it is not. (Now do you really want to say you are a “FLIPPER” or you “FLIP” Properties… the new F word.)
- Two Sets of Settlement Statements — FOLKS, This is FRAUD!
- Fraudulent Qualifications — Some “professionals” assist buyers who would not otherwise qualify by fabricating their employment history or credit record.
Happy Hunting and watch out for these Red Flags of Fraud.
Landlord Training – Tenant Challenges Part VI
This is a on demand preview
Sunday, August 19, 11:38 am
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