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Group Q & A
Lou Brown:
Welcome everyone to your Street Smart Group Q and A where I’ve got a lot of new information for you. I think you are going to be excited about this one.
We just completed our Millionaire Dealmaker event in Atlanta. It was fantastic. We had a great turn out. We had a great group of folks there; learned a ton about way to develop and design deals for today’s market. That was critical because I spent good, in-depth time on the important thing in today’s market; that’s being able to buy REO properties. Real Estate Owned by the banks. I shared my entire system of how we are doing it, brought in my entire team, and showed exactly how we are structuring the transactions right now, and the operation that we’ve put together on that, got some great insight into the pricing, the formats for the offers, and so on.
Group Q & A
Lou Brown:
Hello everyone and welcome back to another installment of our Q&A session where I am going to give you the Street Smart answers to all of your questions that you have been sending in over the last couple of weeks. I am going to update you on some of the things that we have been talking about, as a theme this year, on cutting your expenses and creating more cash flow for your business. One of the things that I have been talking about particularly with the Platinum Group is protesting property taxes and looking for other avenues to be able to save money in your real estate business. Right now, I find that property taxes are very high in our area compared to the comps of sales right now and properties on the market. Another thing that is true also is the cost of the taxes is quite high. Now, I am looking at actual dollars per square foot. I am looking at special assessments. I am looking at assessments of other properties in the same neighborhood, in fact on the same street. The tool I use to do this is our CompWiz that is on the backside of your websites.
Group Q & A January 15, 2008
Lou Brown:
Hello everyone and welcome to a brand new year. I’m so excited for you and I’m so excited for me. I think this is going to be a fantastic year. We’re going to see so much available opportunity over the next year. You know it’s just incredible what we’ve seen happen over the last few months. If you just check it out. The ball started rolling back last June.
Group Q & A January 29, 2008
Lou Brown:
Well, hello everyone, and welcome back to another installment of our Street Smart Group Q and A where you are the questioner and I am the answerer. And we’ve had an exciting couple of weeks since we talked last. Our MAS, Maximum Asset Shield, has been completed this past weekend. We had a great event. Lots of excited people there; new faces. We had a terrific information gathering and sharing and quite a few new things came out of that as well. So, we encourage you to get to the next Maximum Asset Shield when you have an opportunity to.
Lou Brown:
Hello everyone and welcome back to another installment of our Street Smart Group Q&A. Here we are going to cover all of the questions that have come in over the last couple of weeks. Some of them have been pretty in-depth. I know some of you are pretty concerned about the existing market, but I can tell you that it is nothing to be concerned with at all. We have a lot of opportunity happening right now out in the market place. I want you to not look at it from a fear standpoint, but more from an opportunity standpoint. There is so much available to us if we just step out and take advantage of it. So, definitely continue to look hard at the opportunities that are coming your way.
Lou Brown:
Hello everyone, and welcome back to another session of our Group Q and A where together we’re gong to go through a lot of different questions that you guys have sent in. I’m just back now from the national REA cruise. Many of you know that I’m the original or first president of national REA… which is an outgrowth of an earlier organization called Real Estate Leadership Association of America. Which was an outgrowth of an earlier organization called National Leadership Congress. I was the last president of Real Estate Leadership Association of America, and then took the organization in a new direction and it became National REIA in 1993.
Lou:
Hello, everyone and welcome to another installment of our Street Smart Q and A where you send in the questions and Lou Brown gives you the answers. Now, usually I start off the training with some ideas about what’s happening in the current economy and how this affects us, and from today’s newspaper I got some interesting information about the housing crisis. “More Bad News for Housing” is the headline and it says “Figures bleak for foreclosures and delinquent loans. U.S. foreclosure rates hit a record high in the last three months of 2007 and home loan delinquency rates reach their highest level in 22 years according to a survey released Thursday by Real Estate Organization.” Do I hear any “Yeah, Baby!”s out there? Now, that’s a “Yeah Baby!” isn’t it, because what they’re saying is things are so bad, they haven’t been this bad in 22 years. What does that say? I’ve told you before that once per generation we have an opportunity and this is such an opportunity right now. They go on to say, “‘The chief culprits for the home loan woes are falling home prices and issues with sub prime mortgages'” said Doug Duncan, the MBA’s Chief Economist and Senior Vice President of Research and Business Development. That’s the Mortgage Bankers Association. “‘The trend is expected to continue through mid to late 2008’ he said. ‘Our general outlook is that you should expect to see as long as house prices are declining, some continued rises in delinquency and foreclosures.'”
Lou:
Hello everyone and welcome back to another installment of our group Q and A where we give you Street Smart answers to your Street Smart questions.
I’m very excited about what’s happened over the last two weeks since the last time we met. The industry has changed dramatically, of course, with the sale of Bear Sterns to J P Morgan. It’s amazing. J P Morgan made its big inroad into the financial 101 years ago by doing exactly the same thing, buying a company for pennies on the dollar, and being able to step in and grow their business. And, now here we are 101 years later where J P Morgan is no longer around, but his company still is.
Lou Brown:
Hello ladies and gentlemen, and welcome back to another installment of our Street Smart group
Q and A, where you ask the questions and I give you all the answers. I’ve had an exciting last couple of weeks. We had our Millionaire Deal Maker event, also been to Ohio for a three day stint there. Lots of great turned on investors that say, “If you’re not turned on about today’s market, you’re missing the opportunities that exist.”
Male Speaker:
Hello everyone and welcome to another session on our Group Q and A where you learn the Street Smart secrets on how to do this business the Street Smart way. I’ve been very excited about the last couple of weeks. First of all we’ve bought a couple of properties and they’ve been good ones. We were able to get one seller to go to the bank and modify their loan, working with us and the other sold us their property subject to the existing 6% loan. So there’s real opportunity out there in today’s market place. I want you to not miss the opportunity that we’re going to see over the next couple of years that will be unusual and unique for you. If there’s anything stopping you, if there’s anything that is in your way of moving forward we need to address those things. We can do those on this group call, but we can also do it with your direct one-on-one consulting. I want to make sure that you don’t miss this window of opportunity, and I’ve ben screaming it from the rooftops, but I just want you to hear it again. We had a great session Millionaire Jump Start in Dallas over the last weekend and had some great folks from 19 different states there, had a lot of fun, very interesting conversation and a lot of excitement about what’s coming up in the future. So hopefully you’ll leave this call today motivated and ready to make some money over the next couple of weeks. That’s my expectation. Well let’s get down to it.
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