Archive for the ‘Millionaire Maker Tips’ Category
Quick and Dirty Ways to Get REO Assignments and the Deadly Sin You Must NOT Commit!
Last Updated on Thursday, 13 May 2010 09:23 Written by Mike Costigan Thursday, 13 May 2010 09:23
I frequently discuss different strategies, that REO brokers can use, to get REO listings, on REO Rockstars calls. And because we’re dead smack at the onset of home selling season, I thought I’d take just a quick minute, to share 3 of the best ways to get bank owned properties (even though some of you THICK HEADED agents may have been too lazy to sit in on my last one hour FREE REO coaching call 
. So here’s the “lazy man’s” way to cut in line and get your pipeline of foreclosure listings filled right up.
Tags: 3 Ways, Asset Management Companies, Asset Manager, Asset Managers, Bank Owned Properties, Banks, Bottom Line, Building Relationships, building relationships with Asset Managers, Butt, Deadly Sin, Dirty Ways, Email, Exact Words, Fannie Mae, Financial Institutions, Foreclosure Listings, get bank owned properties, get REO listings, Gimmicks, handle REO properties, Lazy Man, Mike Costigan, new assignments, Phrases, Pipeline, REO broker training calls, Reo Properties, REO Rockstars, selling bank owned properties, Zero Resistance | Posted under Millionaire Maker Tips | No Comments
Foreclosure Inventories are Volatile. An Easy Way to Survive as an REO Broker!
Last Updated on Monday, 10 May 2010 01:08 Written by Mike Costigan Monday, 10 May 2010 01:08
I get these questions daily from REO Rockstars subscribers and from foreclosure brokers that I am coaching; “What is happening with bank owned properties?” “Why are the inventory levels fluctuating so much now?” “What can I do to keep from going under?” My explanation is this: The government and the banks are trying desperately to stop this huge flow of distressed properties from hitting the market. The government, of course, wishes to preserve home ownership and neighborhood values. The banks, of course, wish to SAVE MONEY and REDUCE LOSSES. As a result, we are seeing many new programs and strategies implemented, in an effort to keep foreclosures from taking place, and to offset losses, by disposing of bad debt though other means, like short sales. An interesting note that you may or may not know, is that banks are consistently seeing about a 15 point higher return on short sales vs. foreclosures-only makes sense that they look towards these alternatives, as additional methods of property disposition.
Does this mean an END to REO is coming?
Tags: Anomalies, Asset Managers, Bad Debt, Bank Owned Homes, Bank Owned Properties, Banks, Bubba, Distressed Properties, Ebb And Flow, Fannie Mae, Foreclosure, Foreclosures, Freddie Mac, Hamp, Home Ownership, housing bust, Inventories, Inventory Levels, Long Term Solution, Mike Costigan, Myriad, Neighborhood Values, Outright Failure, Property Disposition, Raw Truth, Record Lows, REO assignments, REO broker, REO business, REO inventories, REO Rockstars, Riding The Wave, short slaes, strategies | Posted under Millionaire Maker Tips | No Comments
Getting LOADS of REO Assignments – Coaching Call Replay
Last Updated on Tuesday, 27 April 2010 03:59 Written by Mike Costigan Tuesday, 27 April 2010 03:52
Thank you to everyone who participated in last week’s REO Rockstars coaching call. As usual, we had a fabulous turnout, and I hope that everyone took away several solid strategies, to help you to IMMEDIATELY get REO listings from banks. REO Rockstars REO training calls are a very good way to learn the secret insider tricks, that allow you to cut in line, and begin getting bank owned property listings FAST! Each call is designed to motivate you AND to keep you pointed precisely in the right direction, towards growing your REO business rapidly and consistently. The REO coaching on the calls is absolutely FREE, so you should never miss one.
That being said, in case you DID miss the call last week, here’s a replay that you can listen to right now on your computer. Just click the link below, grab a pen and paper, and get ready to learn!
***As always, if you have questions or comments, you may email me at mikecostigan@REORockstars.com . I will be happy to help you.
To Your Success!
Mike Costigan
Tags: Aspx, Bank Owned Property, bank owned property listings, Banks, Cid, coaching, Conferences, get REO listings form banks, Insider Tricks, Mike Costigan, Pen And Paper, Reo, REO business, REO coaching, REO Rockstars, REO training, reo training calls, Replay, Right Direction, Rockstars, Secret Insider | Posted under Millionaire Maker Tips | No Comments
Put Some MOMENTUM in Your REO Business
Last Updated on Wednesday, 21 April 2010 05:06 Written by Mike Costigan Wednesday, 21 April 2010 05:06
Gentlemen, start your engines!
In REO, you better be prepared to watch for the green light to flash and then slam that accelerator right to the floor, holding it there until there until your back is planted firmly against the back of the driver’s seat, to the point where you can’t even reach up and touch the dash! KEEP GOING now……..faster and faster…..and NEVER slow down!
Sound crazy? Well you better think again. Folks, in the REO business, you are only as good as “what have you done for me today?” There isn’t much loyalty to brokers who just aren’t overachieving every day and staying in good (not bothersome) contact with your clients. Contentment has no place in this game. Don’t ever let yourself be distracted by a smoothly flowing business or a month of great profits-get too lackadaisical in romancing your clients with good service and expressing a fierce desire for more, and they’ll drop you as quickly as Gatorade dropped Tiger Woods! A taste of sweet success can bat it’s sexy lashes and romance you into getting off course. Never give in to temptation. Keep the eyes straight ahead and no “fooling around”.
Frankly, the “momentum” principle is relevant in any business. Once you’ve got the ball rolling, you have got to learn to continuously push it faster and faster and keep it moving forward. Push with all of your might. REALLY sweat as you move closer to your goals. The faster you go, the easier maintaining momentum becomes. And there’s nothing more to it than keeping your focus. And once you understand HOW to focus, it become REALLY easy. In fact, there are 9 Special Momentum Building Techniques, that once mastered, can almost GUARANTEE that you’ll cruise along at lightning fast speed. Join me on our next REO Rockstars call (see below) and I’ll be covering these in great detail. On the list of important topics that I have ever covered in my coaching, this one ranks extremely high on the totem pole. For this reason, I am opening this call up to a larger than usual audience and it is going to be ABSOLUTELY FREE. There will be no charges-not even telephone long distance fees. It’s just good old, hardcore FREE REO training. I only do these every so often so be sure to join us. Details below.
Conference dial-in number: (866) 576-7975
Participant access code: 885267
Time: 1:00 EST on Thursday, April 22, 2010
WARNING: As usual. The call will be very crowded and “seats” are going to be limited to the first 147 people. Be PROMPT. It would stink to be #148…WOULDN’T IT?
P.S. As a special bonus, I will be revealing 1 BIG SHORTCUT to getting on board with THE most desired REO client in the country. Write the call-in number and access code down right now and DO NOT MISS THIS!
Tags: Accelerator, coach, coaching, Contact, Contentment, Cruise, Fierce Desire, Focus, FREE REO trainig call, Game, Gentlemen Start Your Engines, Lashes, Loyalty, Mike Costigan, Momentum, Principle, Profits, Reo, REO business, REO Rockstars, REO training, Romance, Sweet Success, Temptation, Tiger, Tiger Woods, Totem Pole | Posted under Millionaire Maker Tips | No Comments
Would Fannie Mae Hire YOU As an REO Broker?…REALLY?
Last Updated on Tuesday, 20 April 2010 04:07 Written by Mike Costigan Tuesday, 20 April 2010 04:07
Do you REALLY have what it takes to get in with the big companies as an REO broker? Would they TRULY want to hire you to sell foreclosures on their behalf? Be honest with yourself now…Selling bank owned homes is a lot of work and it involves many special REO processes, that you need to know to a “T”, if you are going to be considered for REO assignments from companies like Fannie Mae. To REALLY “get” the ins and outs of the REO business, it’s wise to learn as much as you can, from anyone who will coach, you before taking on much business. Putting the other foot forward first can quickly get you blacklisted by Asset Managers and banks forever.
Just a reminder of some FREE REO training…
Our next FREE REO Rockstars call is Thursday, April 22, 2010 @ 1:00 PM EST. If you are wanting to get your REO sales up a notch VERY QUICKLY then get on this call. You DO want to join us and learn how to make MORE MONEY…Don’t You?! There is NO COST and of course, No-Obligation. It’s a “pitch free” call to get some momentum behind you and to help you fly past your competitors like Jimmie Johnson rounding the last corner towards the finish line!
I will teach you the Three Quick and Dirty Ways to Start Getting Business NOW!
…AND
The Single Biggest Time-Wasting Activity that most REO “coaches” are screwing you with!
WARNING: As usual. The call will be very crowded and “seats” are going to be limited to the first 147 people. Be PROMPT. It would stink to be #148…WOULDN’T IT?
Conference dial-in number: (866) 576-7975
Participant access code: 885267
Time: 1:00 EST on Thursday, April 22, 2010
P.S. As a special bonus, I will be revealing 1 BIG SHORTCUT to getting on board with THE most desired REO client in the country. Write the call-in number and access code down right now and DO NOT MISS THIS!
Tags: Access Code, Asset Managers, Bank Owned Homes, Banks, Bonus, coach, Dirty Ways, Fannie Mae, Finish Line, Fly, Foreclosures, How To Make More Money, Ins And Outs, Jimmie Johnson, learn, Mike Costigan, Momentum, Notch, Obligation, Participant, Pitch, Reminder, Reo, REO assignments, REO processes, REO Rockstars, Reo Sales, REO training, sell foreclsoures, selling bank owned homes | Posted under Millionaire Maker Tips | No Comments
3 Quick & Dirty Ways to Bust into the REO Business! FREE Call Thursday.
Last Updated on Tuesday, 27 April 2010 04:02 Written by Mike Costigan Monday, 19 April 2010 03:37
While many agents are finding it very tough to compete in today’s REO market, others are thriving. SURPRISE! It comes right down to knowing the ways “in” and then putting your neck out on the line with some guts and hard work and refusing to quit! Big doors swing WIDE open, even doors that have been slammed shut on REO agents for years, when you have the right direction and the will to succeed.
Our next FREE REO Rockstars call is Thursday, April 22, 2010 @ 1:00 PM EST. If you are wanting to get your REO sales up a notch VERY QUICKLY then get on this call. You DO want to join us and learn how to make MORE MONEY…Don’t You?! There is NO COST and of course, No-Obligation. It’s a “pitch free” call to get some momentum behind you and to help you fly past your competitors like Jimmie Johnson rounding the last corner towards the finish line!
I will teach you the Three Quick and Dirty Ways to Start Getting Business NOW!
…AND
The Single Biggest Time-Wasting Activity that most REO “coaches” are screwing you with!
WARNING: As usual. The call will be very crowded and “seats” are going to be limited to the first 147 people. Be PROMPT. It would stink to be #148…WOULDN’T IT?
Conference dial-in number: (866) 576-7975
Participant access code: 885267
Time: 1:00 EST on Thursday, April 22, 2010
P.S. As a special bonus, I will be revealing 1 BIG SHORTCUT to getting on board with THE most desired REO client in the country. Write the call-in number and access code down right now and DO NOT MISS THIS!
Tags: Access Code, April 22, Bonus, Dirty Ways, Doors, Finish Line, Fly, FREE REO training, Guts, How To Make More Money, Jimmie Johnson, learn to sell rEO, Limited, Mike Costigan, Momentum, Notch, Obligation, Open Doors, Participant, People, Pitch, Quick Bust, real estate coaching, REO Rockstars, Reo Sales, REO training course, Right Direction, Screwing, selling bank owned homes, selling foreclosures, selling REO, Surprise | Posted under Millionaire Maker Tips | No Comments
What’s the Deal with So Many Multiple Offers on Investment Properties Right Now?
Last Updated on Thursday, 15 April 2010 08:39 Written by Mike Costigan Thursday, 15 April 2010 08:39
This was an actual question posed to me by a local real estate broker this morning. Since I’ve heard it a lot lately, I thought I’d go ahead and address it quickly for everyone. Here’s the deal in a nutshell…
Tags: advice to REO buyers, Banks, Bidding Wars, Bottom Lines, Current Situation, Foreclosure, Frenzy, Inflated Prices, Inventories, Investment Properties, Local Real Estate, local real estate broker, Midst, Nutshell, Portfolios, Public Perception, Quantities, Real Estate Broker, Reason 2, REO broker, REO broker training calls for FREE, REO buyers, Reos, Sentiment, Supply And Demand | Posted under Millionaire Maker Tips | No Comments
(Lack of) SPEED KILLS! – A Useful REO Time Saving Tool that Instantly Gives You a 33% Boost!
Last Updated on Saturday, 6 March 2010 08:41 Written by Mike Costigan Friday, 5 March 2010 01:29
Do you know the #1 killer of an REO business? No, it ain’t strong competition bubba (gosh knows there’s a gaping hole where THAT should be)! And it isn’t bad luck either. It IS the in-ability of lazy, coffee-drinking, sit at their computer all day, whine and moan about the economy, God’s gift to REO, “prima donna” brokers, to get off their fat butts and get their tasks COMPLETED on time! Let me tell you, if you want to be tossed to the curb quicker than Tiger Woods at a Swedish family reunion, then you just GO AHEAD BE LATE big boy! Your Asset Managers will cut your legs out from under you so fast that your competition won’t even notice you’ve disappeared! O.K. look, when you’re selling bank owned foreclosures, it is absolutely CRITICAL to have ROCK-SOLID systems in place, to handle the multitude of things that are thrown your way every day.
Tags: Asset Managers, Bad Luck, Bank Owned Foreclosures, BHGDigital, Biggies, Bubba, Butts, Cart Before The Horse, Family Reunion, Forms for REO Brokers, Gaping Hole, Initial Occupancy Field Report SAMPLE, Lack Of Speed, Little Time, Monthly Inspection Report SAMPLE, Paperwork, Prima Donna, Reo, REO business, REO Forms, Repair Sheet SAMPLE, Swedish Family, Tedious Tasks, Tiger Woods, Time Savers, Ugly Head, Useful REO Time Saving Tools, View Sample REO Forms Here, Whine, Work Order SAMPLE | Posted under Millionaire Maker Tips | No Comments
How to Structure an REO Deal That a Hard Money Lender Will Finance
Last Updated on Tuesday, 2 March 2010 08:49 Written by Mike Costigan Tuesday, 2 March 2010 08:45
I get this question on REO Rockstars calls a lot so let me share a bit of free insight on why REO agents and investors buying bank owned homes have their hopes of a golden finish blow out violently, like a speed skater who’s shoved into the boards, trying to squeeze out Apollo Ohno on the last turn before the finish line! Grab a pen and paper and take some notes my friend. This stuff is not for the faint-hearted but it doesn’t take 4 years of torturous training either-just a tiny little bit if focus. You can manage that can’t you? …Every day my office receives offers from these “would be” investors. Seems like everyone has taken some class, “learned from a friend”, or just plain walks blindly into the “investor” game. Now not to be critical of REAL investors here. We do business with PLENTY of super smart guys who make a very good living at this. But how do they do it? Well, it begins with the basics of knowing HOW to structure a deal that just makes sense. Contrary to what the “wanna be” guys seem to think, a great deal involves a heck of a lot more than looking at a few comps and speculating on a flip price. Bluntly, It is not the HOUSE that matters. It’s the PLAN. Smart investors, the guys who actually make a career out of this (and no, I’m not talking about some of these TV goofballs who make me cringe as they buy termite infested, water logged, structurally defunct houses and end up rebuilding from the foundation up-HACKS!), break the numbers down to the last penny, including the financing factors. First, they have to consider “where” they are going to get the non-occupant financing and more importantly “how” they are going to convince the hard money guy to fork over a chunk of change to finance the project.
Tags: after repaired value, all cash, analysis, Apollo Ohno, Apollo Ono, average days on market, Bank Owned Homes, Blind Faith, buy foreclsoures, buying bank owned homes, Chunk, commission, comparable sales, Comps, Contrary, defaults, estimated repairs, financing, Finish Line, flip, Goofballs, Grave Mistake, Hacks, hard money, hard money guy, Hard Money Lender, Hard Money Lenders, Heck, higher sales price, holding costs, How to structure an REO deal, investors, lower price, Lt, Mike Costigan, Money Guy, Occupant, Pen And Paper, real estate investor, rehab costs, REO Rockstars, Rockstars, sell foreclosures, selling costs, Smart Investors, Speed Skater, Termite | Posted under Millionaire Maker Tips | No Comments
How to KEEP Getting REO Listings…What Asset Managers want to see.
Last Updated on Monday, 1 March 2010 12:57 Written by Mike Costigan Monday, 1 March 2010 12:55
Good afternoon Millionaire Agent Academy members. In keeping with our special REO training, designed to keep you two steps ahead of your competitors, the following is the latest BIG money making tip from my “REO Rockstars“. ENJOY…
Just a very quick post to remind everyone that you will NOT get away with slacking on utility connections. I realize that this may seem to be a post with a very obvious meaning but I have to tell you that this is probably one of the biggest hangups that AMs have to deal with. I would roughly guesstimate that at least HALF…yeah HALF of the bank owned REO properties that I visit DO NOT have utilities activated. I also know with absolute certainty that almost ALL Master Listing Agreements contain a special section regarding broker responsibilities, specifically, ACTIVATING UTILITIES. I was reminded of this sore subject by an email received from a client today, that listed all of their bank owned homes in the state of GA that DID not have utilities on. The list was MASSIVE. What really amazes me even more than the size of the list,
Tags: Absolute Certainty, Academy Members, Asset Management Companies, Asset Management Company, Asset Managers, Bank Owned Homes, Bank Owned Reo, big money making tip, Checkup From The Neck Up, Deep Blood, Foreclosures, Forehead, Good Afternoon, Hangups, Hero, How to keep getting REO listings, Loser, Marker, Mike Costigan, Millionaire, Millionaire Agent Academy, Red Ink, REO Rockstars, reo training calls, selliing foreclosures, Sore Subject, Two Steps, Uncensored REO Secrets, Utility Connections, What Asset Managers Want | Posted under Millionaire Maker Tips | No Comments