Buying Archives

FREE Investor Carrot Website – Short Video Shows You How To Get Your FREE Investor Carrot Website

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

Click Here to Get Your FREE Investor Carrot Website

 

Free InvestorCarrot.com websites for real estate investors

FREE Investor Carrot Websites at MikeButler.com

Personal Safety Security 45 min audio mp3

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.

 right click and “Save As”Download Now

45 min unedited audio from a Gold Member Power Lunch.

 

BeverlyCarter  
  Beverly Carter  Realtor

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.

 

 

 

 

Hello and Check This Out!    
Great News for Investors and Sellers FreeGiftComments

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.

 


What are Your Comments On This New Extension? FreeGiftComments 
(please click on the “Leave Comments” button at top right of this article)

SigMikeButler

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/

I need your help please. A Little Feedback on the 2 questions below, thanks in advance.

QUESTION: Would You Like to Have Podcasts available from Mike Butler?
(please answer below by entering your answer and comments in reply area)

QUESTION: If you answered Yes, Do You Prefer Audio Only or both Video or Both?
(please answer below by entering your answer and comments in reply area)

 

Below is Jimmy Moncrief’s article and link to the podcast interview.

 


 Landlording on Auto-Pilot: A Simple, No-Brainer System for Higher Profits and Fewer Headaches

  Click Here for Full Video/Article (Members Only)

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.

BLINDSIDED!

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.

HERE’s WHY

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.

Get This!

Their Flood Insurance Premium is $23,000.

Absolutely Insane!

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

http://www.realtor.org/topics/national-flood-insurance-program-nfip

 

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?

Look What Is Cooking in the Lending Business!
 
Utility Bills May WILL Soon Become Part of the Loan Approval Process for Home Buyers! 
 
A great local successful investor, Eric George, is an expert in making homes energy efficient, forwarded this article to me yesterday. Eric shared this very interesting article because the wheels are in motion where the Energy Costs of a Home will be factored into underwriting and the loan approval process.
 
In today’s world, home heating, cooling, and energy costs are a huge part of a family budget. It is apparent, the lending institutions have done their homework and discovered energy efficient homes have a 32% lower default rate.
 
Having this information NOW, can help forecast your future business. By getting this heads up right now, you will be in a much better position as an investor.
  • 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?
I am not an energy expert and odds are, you are not either.
Unlike Eric, we can only think about the simple things like replacement windows and insulation; but, there is a lot more to it.
 
Question: If I can get Eric to do it, would you be interested in attending a free webinar featuring Eric on these energy efficient home techniques?
 
If so, please click this email and write “Yes, I want a webinar with Eric”
here is the email “News@MikeButler.com
.
Here is the article Eric sent me yesterday
 
 


 
RESNET Calls for Reforms of Housing Market and Mortgage Financing
 
 
RESNET (Residential Energy Services Network) has released a policy proposal that calls for the labeling of a home’s energy performance and More…including the monthly energy savings when calculating home ownership costs in mortgage financing. The intent is to bring transparency to the housing market and introduce greater rationality into mortgage financing.
 
Car and home appliance manufacturers have long been providing consumers with information about the energy efficiency of their products through MPG (miles-per-gallon) stickers and Energy Guide labels. As a result, consumers are able to make better-informed buying decisions.
 
This, however, is not the case for homebuyers who for the most part are not aware of the energy performance of homes they are considering buying.
Making HERS Index scores a requirement for homes financed through federal mortgage programs like Fannie Mae, Freddie Mac, FHA and VA, would be a start in the right direction to addressing this problem.
 
Current federal mortgage underwriting practices fail to take energy savings into consideration when determining the value and affordability of energy efficient homes. However, a recent study showed that energy efficient homes have a 32% less mortgage default rate. Therefore, RESNET proposes the adoption of a new formula to calculate how to determine housing affordability – one that would account for energy savings:
 
Principal 
+ Interest 
+ Taxes 
+ Insurance 
– Monthly Energy Savings (PITI-ES)  
= TOTAL COST
 
The new formula would provide greater accuracy in determining housing affordability, and could make energy efficient  homes more accessible to consumers than they are now.
 
The combination of labeling of a home’s energy performance in federal backed mortgages and the new way of calculating housing affordability in the mortgage loan will help homebuyers better understand the true cost of owning a home and allow energy upgrades to be financed in the mortgage loan.
 
To download the new policy initiative click on RESNET Call for Reform
 
Residential Energy Services Network

Special Thanks to Eric for this very important update of upcoming trends affecting our real estate market.
 
P.S   There’s only 15 Cabins left for the Great Investor Cruise Jan 12-19, 2014 on board the FREEDOM of the SEAS, RCCL. Give Ty a call to reserve your cabin now!

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 

 

Click Here for Full Video/Article (Members Only)

NOTE: there are some errors in this article such as:

– you can get Tax Free Profit & Income for Life using SDIRA. This article says all investments are “tax deferred.” ROTH IRA investments are TAX FREE

– the part about taking 3 or 4 weeks with a brokerage firm might be true; however, CamaPlan.com can get you up and running in a day or two, not weeks.

FALSE  “You can not take advantage of your IRA investments until you retire” is FALSE

– Very Misleading & Wrong… 50% has absolutely nothing to do with this statement.Your spouse, immediate families or companies you have a 50% interest in cannot be involved.

 

Here is the article from Fox Business

Difficult economic times have spurred non-traditional methods to save for retirement, and many people are using a self-directed IRA to purchase non-traded assets like real estate.

A self-directed IRA is the lesser known of IRA options and requires account owners to make active investments on behalf of the plan. To open one, an owner must hire a trustree or custodian to hold the IRA assets and be responsible for administering the account and filing required documents with the IRS.

Similar to other IRA accounts, owners can invest in stocks, bonds and mutual funds, but they can also invest in things that investment houses like Charles Schwabb, Fidelity and Vanguard don’t offer, like small businesses, boat slips, storage units, parking lots, land and homes.

Investors may still be leery of investing in the housing market, but real estate investor Scott FladHammer, says real estate can be a good long-term investment and generate higher returns than the stock market.

Investing in real-estate also provides a lot of options. “Owning real estate can be very rewarding, especially for people who are investing in what they know,” says Amy Gates, an independent advisor offering investment for Trust Advisory Group.

But the process of using a self-directed IRA to jump into investing in real estate requires preparation and caution.

“The move can make sense in certain circumstances, but only when the investor fully understands both the positives and negatives and the requirements involved,” cautions Ken Himmler, president of Los Angeles-based wealth management firm Integrated Asset Management.

Interested investors should seek legal advice, as well as input from an accountant and real estate agent for a well-rounded picture. They should also be familiar with the rules for the type of IRA they’re using. Whether it is a Simple IRA, Roth or Traditional IRA, SEP or Solo 401(k), contribution limits still apply, and there are penalties for early withdrawals.

Here are five things to keep in mind when considering investing in real estate through a self-directed IRA.

It takes time. Gates advises devising a timeline based on the account-opening process, transferring or rollover of assets and finding the actual investment.

It normally takes two to three weeks to open an account at a typical brokerage firm, and you’ll need to find a custodian who will hold real estate inside an IRA. The down payment must come from IRA funds, so rollovers may be required.

When a real estate investment is contracted, the IRA account holder reviews and signs the purchase agreement and then the custodian must approve it and release of funds to the title company. All of this takes time, so it’s prudent to learn as much as you can before jumping into a decision.

You cannot take advantage of IRA investments until you retire. You can’t use the fund to pay off your mortgage or live in or use the property you buy as an investment in the self-directed IRA.

“You buy it because it is anticipated to appreciate in value, plain and simple,” Gates says. You also lose the depreciation tax deduction that you would otherwise receive on an investment property.

Your spouse, immediate families or companies you have a 50% interest in cannot be involved. While it is possible for the property to be held as tenants in common, an IRA is an individual account—and you must avoid any conflicts of interest.

Self-dealing or enabling a transaction that is beneficial to you on the other end is strictly prohibited. You also cannot use the IRA as collateral for a loan; it should be treated like other retirement accounts.

It’s a lot of work. “While late-night infomercials highlight the potential benefits, many investors don’t fully appreciate or understand the reporting and administrative requirements involved in using a self-directed IRA to buy real estate,” according to Himmler. For example, the investor should not be doing the work on the property, especially because he can’t get reimbursed.

All expenses, maintenance, taxes and insurance are paid from the IRA. If there are association dues or golf memberships, those all must be withdrawn from the IRA. Finding tenants and contractors may take time, and every penny in and out must be approved by the custodian. FladHammer recommends having a reputable property management company in place to navigate the day-to-day duties.

All income from the property is tax deferred. That includes rental income and capital gains, Gates says. If you plan to be in a lower tax bracket at retirement, this is quite beneficial. You can also make tax deductible contributions to the IRA.

article from Fox Business

Get more information and details. Check out

www.TaxFreeProfitForLife.com

 

Fire in your comments!

 

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