Never Offer Collateral First, Only If The Lender Insists – Street Smart Cash Flow Accelerator #38

Hi! It’s Lou Brown. With another of my amazing 101 ways for real estate investors like you to win, close more deals, and accelerate your cash flow. Today’s tip is number 38. Offer, only offer collateral if the lender insists. Now slow that car down and don’t get too excited. In this series I’ve been sharing with you about borrowing money, borrowing money without going to banks and without qualifying for loans. That’s my favorite way to borrow money. I’ve got a whole system on this called borrowing volume six it’s in my system of training you how to become an amazing real estate investor and build a terrific real estate business. You can find that by going to StreetSmartInvestor.com click on tools and click on volume six Borrowing.

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How To Get A Reissue Fee On The Property’s Title Insurance – Street Smart Cash Flow Accelerator #39

Hi! It’s Lou Brown. With another one of my amazing 101 ways for real estate investors like you to win, close more deals and accelerate your cash flow. Today’s tip is number 39. In this series I’m going to be talking about when you’re closing to purchase a property. So this is going to be focused on areas that affect your bottom line with a thing called a closing statement, right? So sometimes you go to a closing and all of a sudden you’re surprised by some of the costs that are on there. Well, it’s because you didn’t manage those costs. So my suggestion for you on this tip is ask if you can get a reissue fee on the title insurance. This is when your closing agent writes for the same firm that issued the prior title insurance. So in other words, that seller, when they purchased the property, likely also purchased a what’s called an owner’s title policy.

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Insist On Getting The HUD-1 At Least 24 Hours Before The Closing #40

Hi! It’s Lou Brown. With another of my 101 ways for real estate investors like you to win, close more deals, accelerate your cash flows. And today’s tip is number 40. Now in this series, I’ve been talking about closing your transaction and how you can make some additional profits when you’re closing the transaction. So this one is, Insist that the closing company, closing attorney, or title company, provide the closing statement to you at least 24 hours before the closing. This allows you to look for mistakes and negotiate fees. All right, so here’s what typically happens at a closing. You get to the closing, they kind of look out the door and they see that the sellers have arrived and the buyers have arrived and then they go back in there and they actually do the paperwork. Well, we don’t allow that anymore. We’ve learned that we might be sitting there for hours while they’re putting together the paperwork.

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Why You Should NEVER Attend The Closing Of A Property Where The Seller Will Sign #41

Hi! It’s Lou Brown. With another of my 101 ways for real estate investors like you to win, close more deals and to accelerate your cash flows. Now, today’s tip is number 41. Review, approve and sign all paperwork for closing in advance. Do not attend the closing where the seller will sign. You’ve already signed, saves time and renegotiation. Well. This is one of the most powerful and valuable tips I could give you. It used to be that you’d be actually be excited to go to a closing and you’d wait and you’d do the paperwork and everybody’s sitting around the table and it’s a big day in your life and you’re purchasing an asset and it’s going to set you up for a better life than the one you’ve got. And how good is that? It’s fantastic is the answer. The challenge is that that’s often an opportunity for some kind of breakdown. And if there’s a breakdown, if there’s an upset with some of the charges, like I’ve said to you before, sometimes you look at a closing statement and all of a sudden there’s all these additional costs and fees you didn’t think about.

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What Day Of The Month To Close When Buying Multi-Family Or Properties With Tenants In Them #42

Hi! It’s Lou Brown. With another of my 101 ways for real estate investors like you to win, earn more money, close more deals, and accelerate your cash flow. Today’s tip is number 42. On single family and multifamily properties with tenants in them close on the fifth day of the month. Now, why is that powerful? Because what happens is typically now the management company or the owner has already collected the rent from the tenant. So at the closing, because you used my contract, you’re actually going to get a credit for what’s called a proration of the rent. You see, rents are paid in advance, so on the fifth of the month, only five days had been used up the rest of the month. If it’s a 30 day starting on the first rental, then the rest of the month is a credit to you. Well, if it’s a thousand dollar rental, look at that.

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Never Own Anything In Your Own Name: Always Hold Title This Way (Series On Trusts) #43

Hi! It’s Lou Brown. With another of my 101 amazing ways for real estate investors like you to win, close more deals and accelerate your cash flow. Today’s tip is number 43. Protecting your assets. Now this little series is going to revolve around what I believe to be the very best way that you can set yourself up for success. And that’s the whole title to your real estate in trust. An amazing kind of trust called a land trust. Now a land trust is different from other types of trusts. It’s about 30 different kinds of trusts out there. So this very unique and special trust actually allows us to do things that other trusts don’t let us do. And certainly LLCs, corporations, limited partnerships, can’t do many of the things that a land trust can do. So it’s one of the reasons that I love land trust. Dearly love them. So in number 43 we say never own anything in your own name.

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Hold Your Personal Property Such As Autos In A PP Trust (2 Of 7 In Lou’s Series On Using Trusts) #44

Hi! It’s Lou Brown. With another one of my 101 ways for real estate investors like you to win, close more deals and accelerate your cash flow. Today’s tip is number 44. Hold your personal property such as Autos in a personal property trust. So in the last tip I was sharing with you about a thing called land trust, there’s another kind of trust that I dearly love called a Personal Property Trust. Now a Personal Property Trust is a different kind of trust than a land trust. Personal property trust holds, guess what? Personal property. So in other words, a land trust, duh? Holds land. So in other words, if it has a legal description attached to it, then that goes into a land trust. A personal property trust. On the other hand, is everything else in your life. Stocks, bonds, mutual funds, bank accounts, CDs, CDOs, mobile homes, motor home, gun collections, coin collections, everything else in your life can be held in a personal property trust.

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Hold your bank account in a Personal Property Trust (3 of 7 in Lou’s Series on Using Trusts) #45

Hi! It’s Lou Brown. With another of my 101 ways for real estate investors like you to win, close more deals and accelerate your cash flow. Today’s tip is number 45. Hold your bank account in a personal property trust. So as I’m sharing with you in this series, what’s available to you is that you can set up your own trusts if you choose to. And one of the things that you can do is simply open a bank account in the name of a trust. And you can actually be the trustee of that trust, by the way. That means you can sign the checks as trustee and your money now is kept separate and apart from your other business. So let’s say that you own 10 pieces of real estate and you’re receiving rental income off of each one of them. And we know that owning the property can create liability.

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Have A Personal Property Trust As The Beneficiary Of Your Land Trust (Lou’s Trust Series) #46

Hi! It’s Lou Brown. With another my 101 ways for real estate investors like you to win, close more deals and accelerate your cash flow. Today’s tip is number 46. Have a personal property trust as the beneficiary of your land trust. Well, if you’ve been following this series, you’ve learned a lot of very unique and amazing things about this powerful thing called trusts. It’s something that most people don’t know anything about. It’s the most powerful entity I’ve ever discovered on the planet. And it’s something that you need to learn and you need to master. I love being able to pass this on to other folks because of the changes and the benefits that I’ve gotten from it had been totally amazing. And I’ve heard, oh, I can’t tell you how many testimonials from others that have used my system over the years, been doing this since 1984 so there’s an awful lot of, experience that’s gone with that and teaching others as well over the last 30 years has been very powerful as well.

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How to Avoid Probate (5 Of 7 In Lou’s Trust Series) – Street Smart Cash Flow Accelerator #47

Hi! It’s Lou Brown. With another of my amazing 101 ways for real estate investors like you to win, close more deals, and accelerate your cash flow. Today’s tip number 47. Have your estate avoid probate using trusts. Now, if you’ve ever had an experience in your family where someone passed away and somebody was left with the burden and the responsibility of having to go through probate, it’s the process by which the court system, the local court system, and the county in which any kind of property is located, the court system has to determine who the rightful heirs are. And who is supposed to get those assets or the income from those assets? And who’s supposed to pay the bills. Well, all of this is determined in the court system. Now that can cost money. It can be a huge delay and it can be confounding, confusing. It can break up families because it’s the process and all the family members are not aware of what’s going on.

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