Tagged: Macomb

Nov 07

Flipping Houses: Investors Being Regulated out of Business?

It is understandable that some real estate investors feel like they are under attack and are being regulated out of
business but is that really the case or is it the short cuts they are taking that is causing them all the trouble?

The government has clearly been on a mission to recoup all the money it can from everyone in the mortgage and real estate
business, especially ahead of the 2012 presidential election. This has resulted in endless new regulations and witch hunts and it                               clearly isn’t over yet.

Not even the giant Wells Fargo or Bank of America and all of their mighty lawyers seem to be safe, even though the
penalties dealt out to them are barely a slap on the wrist. So it’s the small real estate investors who are really feeling the pinch.

Federal agencies are rolling out whistle blower hotlines and tracking parties to real estate transactions to see who is
flipping properties, mortgage credit is tough to come by and what used to appear legal is now landing investors in jail as banks get                          greedy and crackdown on flipping short sales.

‘Stated income’ went the way of the dinosaurs taking plenty down with it and now investors are being accused of ‘flopping’
real estate by driving down home values before flipping them. Who knows what will be next.

The bottom line is that it is always smart to stay well on the right side of the grey line in anticipation of future changes.

There is plenty of money to be made from flipping houses the right way; you can even do legitimate double closings on
the same day for essentially no money down deals, providing both transactions are fully funded. Use transactional funding                                              or hard money if you don’t have your own.

Real estate investors are still critically needed and are who is really bringing market back and will continue to be needed
to keep recycling homes. Just stay on the right side of the law and recognize that despite who tries to get you into overly                                      creative deals, investors are the first to get thrown under the bus when things go wrong

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Nov 06

Cashing in on Turkey Day for Real Estate Pros

Thanksgiving might be one of the most looked forward to days of the year for great eats but
it is also one of the best marketing opportunities for real estate professionals too…

Whether you are a real estate agent, mortgage broker or real estate investor you should
already have a marketing plan for Thanksgiving in the works. If not, it’s time to step on the gas,                                                                                    unless you want the competition stepping on your market share and connections.

So how should you be working to cash in on this occasion?

Thanksgiving is one of the best times for real estate networking. Inviting prospects and
potential strategic partners to luncheons and dinners is a great start.
However, helping others throw them and sponsoring them can be a great way to
cast a wider net. This makes for a much warmer atmosphere and relaxed setting
for connecting and building relationships.

The internet should not be overlooked either though. Occasions like Thanksgiving
find prospects much more receptive to themed marketing messages. In fact this
is when ‘junk mail’ ceases to become junk, because it is filling a need. So
blog, turn up your social networking and get those extra emails out.

Don’t underestimate Thanksgiving Day dinner as a great time to round up a few more
deals over pumpkin pie either. The easiest deals always come from those you
already know and nothing burns worse than finding out a family member of close
friend chose to do business someone else than you because they didn’t realize
you could help.

This is also an excellent opportunity for building more loyalty among staff and
boosting their productivity for the end of year push. Buy them turkeys or take
the entire team out for dinner to strengthen bonds and show appreciation.

Finally, don’t forget to actually take a few hours off to recharge, be grateful and enjoy
the whole reason you are in this business anyway.

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Oct 22

7 Top Marketing Tips for MI Mortgage Companies

Looking for more mortgage leads?

There are many, many marketing ideas and channels for Michigan mortgage companies and
mortgage brokers to try out today but which are the most effective right now and what else might be getting overlooked that can increase your advertising effectiveness and ROI?

1. Marketing Mix

There are many mortgage marketing strategies which work, though they don’t all yield equal returns, especially when all factors are considered. Focus on a handful which deliver the best net ROI and make sure to have a good variety of on and offline efforts going in order to protect your lead flow and income.

2. Establish Credibility First

It is a lot easier to generate action from your direct marketing efforts if your brand is familiar and trusted, not to mention a lot easier to close those leads which do come in. So think print and display advertising utilize online press releases and don’t forget elements like toll free numbers.
3. Arm Yourself with the Right Tools

Not every lead closes on the first attempt. Either they may not be ready or they just may not be a good fit for your mortgage products at this moment but as a lead and referral source they can still be extremely valuable. This makes having and using lead management software and automating follow up just as essential as the initial contact.

4.Email Marketing

Email marketing may not be a new concept for mortgage professionals but it has been turning up much better results recently. Done right it is easy, affordable, and effective and makes sure you are always there at the right time, in the right place for your prospects and past clients.

5. Blogging

You are reading this, so that is proof positive that blogging works. Blogging can help you get to the top of Google, attract new customers, position you as the best mortgage pro to work with and generate real leads.

6. Forge Strategic Partnerships

Look at the most successful entrepreneurs of history like John D. Rockefeller (our first billionaire) and you’ll see their success relied a lot on building the right relationships. Then look at failures like Apple breaking up with Google Maps and you’ll see their demise linked to failing to forge good partnerships.
Who can you partner with for marketing and referrals to lower your costs and increase your income?

7. Make New Contacts Daily

Your success at driving in more mortgage applications is directly tied to the number of new contact you make each and every day. Are you making enough? Despite all of the expensive and elaborate mortgage marketing tactics available today one of the easiest, most effective and affordable is simply getting out and
exchanging business cards or Facebook likes. Not getting out enough? Do more networking, lunching and dining with other pros, working outside of your normally environment or just doing more activities.

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Oct 19

THERE’S MORE TO MI REAL ESTATE THAN DETROIT….

Detroit real estate has become incredibly popular in the last couple of years between a buffet of low priced properties and rising values but there’s a lot more to Michigan real estate than just the
Motor City.

Detroit does actually have a lot going for it right now but of course it does have a notorious reputation at the same time and while it has been producing some incredible returns for real estate investors it certainly isn’t a great fit for everyone.

Looking a little further afield can bring a lot of other, potentially far more attractive real estate investing
opportunities.

Macomb and Oakland County for instance offer a quieter and safer locale that investors won’t mind actually visiting to take a look at properties and doing their proper due diligence. Yet homes here still offer great discounts on distressed properties, real estate is still incredibly affordable offering plenty of room to grow (and it already is), and a choice between bread and butter homes and luxury ones. In other words it is like
taking all of the pros of investing in Detroit real estate and slicing out the cons.

Whether wholesaling properties full time, fixing and flipping houses on the weekends, acquiring a handful or entire empire of rentals or even just looking for a second home or taking advantage of the
market to move up to a swankier pad there are plenty of enticing options.

There is a reason Michigan real estate is heating up but that doesn’t mean everyone should just follow the herd. Stick to sound real estate investment principals yet, don’t be afraid to think outside
of the box the media creates.

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Oct 19

MICHIGAN REAL ESTATE: FOREIGN INVESTOR DEMAND TO SURGE

Michigan real estate has been a top favorite among foreign investors over the last year
but this trend is really just beginning and local professionals must be
prepared to win their business…

Michigan real estate has been on sale over the last few years and has drawn many out of
area and overseas buyers and investors but evolving trends signal this has just
been the beginning of the rush.

Cushman & Wakefield recently reported real estate investment in Central Europe down
41% this year, while the latest issue of Overseas Property Professional Magazine
highlights the panic going on in Spain, France and the UK due to continued
economic issues.

In the recent past much of this flight capital went to Canada but with markets
like Toronto and Vancouver taking beatings of their own even Canadians are now
once again pouring into the U.S. real estate market.

Of course some are still working on freeing up capital from abroad or have held
off until seeing that the American housing recovery has really taken hold but
that just means more funds and buyers to come and for most Michigan real estate
makes a lot of sense as an affordable and growing market.

This means Michigan Realtors, mortgage loan officers and real estate investors need
to not only be accommodating foreign investors but must be partnering with
services which cater to these clients’ unique needs such as banking, company
formation, remote closings and even just being able to do business in their
home time zones.

This is exactly where My Coordinator LLC excels and we’d love to help serve
your clients and make you look great…

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Oct 07

The Real Deal on Outsourcing for Michigan Real Estate Pros

New Cybercrime Prevention law could wreak havoc on outsourcing for MI real estate
pros…

Outsourcing has become an essential part of everyday business for Michigan real estate
agents, investors and mortgage professionals but a new law threatens to shake
up the industry and limit who can be hired and for what tasks.

The Philippines has been one of the main sources of outsourced staff for U.S.
businesses over the last 7 years but the Cybercrime Prevention Act of 2012 enacted on October 3rd
2012 could put an end to that.

Following on from the recent Facebook purge of spam accounts and fake likes this new law
prohibits and array of internet interactions from adult activities to spamming
and potentially controls who Filipinos can like on Facebook
and other social networking sites. The penalties are no slap on the wrist
either with 12 years hard time in prison and a $24,000 penalty per offense.

On the bright side many U.S. real estate related companies have already been
trending towards hiring remote staff onshore for better quality work and easier
communications. However, note that with millions of American businesses losing
their offshore workers due to this new law the rush to hire alternatives
onshore is sure to get fierce and we all know whoever has the best talent on
their side wins.

At the same time savvy real estate business owners and independent entrepreneurs
know that while outsourcing is critical for maximizing deal volume, speed and
profit it doesn’t always have to cost a bomb.

In fact those who have been using My Coordinator LLC for their title insurance
needs already know they can take advantage of quite a bit of extra help without
extra costs.

Check it out! http://www.mycoordinatorllc.com/

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Oct 07

The Tsunami of Michigan Home Buyers to Come

Michigan home prices and sales look like they are about to take of as a new tsunami of
buyers aims for the state…

The Michigan real estate recovery is just getting started and local home buyers,
real estate investors and Realtors should expect to see a lot of activity
coming up.

According to the latest Fannie Mae survey 73% of American adults say now is a great time
to buy a home and with the current combination of factors at play in the market
we might never see a better time again, at least in most of our lifetimes.

Reporting on the newest home sales figures the Commerce Department reveals the national
median home price jumped up 17% since last August 2012, reflecting the best 12
months of appreciation since 2004. Even more amazing was the 11% jump in home
prices between July and August this year, the highest since 1963!

However, the best is yet to come with some 20 million real estate investors and 20
million young adults who have moved into their parent’s homes in the last few
years that are itching to get out. This doesn’t even count overseas buyers and
real estate investors who are sure to continue to flood in as foreign economies
suffer. Perhaps most significantly this will come from Canada as they enter a
new bubble bursting phase and look for work and investments elsewhere.

Indexes also show that buying a home is now an average of 45% cheaper than renting in
most areas of the country, spurring even more home buying and Michigan is sure
to be a big beneficiary as we’ve got some of the most affordable housing in the
nation.

That means lots of room for home buyers and real estate investors to grow new
wealth.

What are you waiting for?

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Oct 04

Safest & Most Profitable Ways to Flip Houses in Michigan?

What’s the safest and most profitable way to cash in on real estate investing in
Michigan today?

There is certainly no lack of opportunity to bank on the current real estate market
and likely never a better time to flip houses for big money, especially with
such high demand for homes, rising property values, affordable interest rates
and lots of distressed property deals.

The question is how do you benefit from best combination of minimizing risk, high
profits and keep it all legal so you can stay out of jail at the same time?

3 strategies for flipping houses in MI:

1. Fix ‘n’ Flip

Rehabbing has been made incredibly popular by reality TV shows, though while profitable
and beneficial for the local community often requires a lot more cash,
expertise and a strong stomach for taking on repair projects and holding homes
until they are finished and a buyer comes along.

2. Assigning Contracts

Flipping real estate contracts was an popular real estate strategy during the last boom.
It can be low risk due to low investment requirements but end buyers and
sellers can get jealous of assignment fees and spreads at closing. This often
leads to different parties getting cold feet or try to cut the investor out of
the deal, especially without an experienced, talented and dedicated transaction
coordinator and title closing agent to keep it together at the table.

3. Double closings

Now compare the above with the benefits of legitimate double closings. Investors
can use cash or transactional funding for 100% financing to fuel these deals.
This facilitates two separate real estate closings, which are fully funded and
perfectly legal for avoiding the hassles associated with other strategies,
while minimizing risk and maximizing investor profit. These closings can be
several days apart or back to back double closings.

Need help structuring double closings, fast title work and an expert closer on your
side? Try out My Coordinator…

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Oct 03

New Mobile Marketing Technology to Make or Break Your Business

Like it or not technology is going to make or break your real estate business in the
next 12-24 months. Are you ready, do you know where the sweet spots are for
getting the lead and where you absolutely can’t afford not to be seen?

It doesn’t matter whether you are a real estate investor, Realtor or mortgage loan
officer this is what you need to know to get ahead and stay on top…

Apple vs. Android: Sweet Spot of the Decade for Capitalizing on Mobile Marketing
We’ve all heard about the rush to get the new iPhone 5 but while it might be cool,
alone it may not be the game changing device for real estate professionals.

There is no question the iPhone 5 will be a hot seller for the upcoming holidays but
even though Apple boasts the most apps (700,000+), Samsung still boasts double
the market share. That means with more Android devices and less competition it
is potentially easier for real estate pros to get their mobile apps found and
used by non iPhone addicts.

Either way, whether it is the Samsung Galaxy, iPhone 5 or even the new LG Optimus G
who wins the most users in the next couple of months we are entering what is
expected to be the busiest smartphone buying season ever. This makes it an
ideal time to roll out a mobile app of your own.

What the Apple Maps Outrage Means for Real Estate Marketing

This week has seen the web overrun with protests and complaints over Apple’s
replacement of Google Maps with its own feeble attempt.

It hasn’t just been called a sign of the end of the Steve Jobs’ era of perfection
at Apple or being an incredible source of frustration to daily users who rely
on it for navigation but has even had politicians demanding changes for the
sake of public safety and to avert major disasters.

However, what is really significant is that so many individuals rely on these maps for
their daily travel and deciding where they spend their money. Real estate
investing companies, Realtors and mortgage brokers need to be quickly and
easily found on mobile devices or they soon might as well not be around and no
one will know they exist. This means positioning on Yelp, Siri, Google+ Local,
Google Maps and being optimized for the mobile web.

2 More Hacks for More Deals

1. Ezines

While the current buzz may all be focused on the iPhone 5, 84 million iPads are now
in the hands of consumers, not counting the pending gifts this coming holiday
season or the various other tablets out there. This makes online magazines a
great addition to marketing. Create your own of collaborate and contribute to
one.

2. Forge Strategic Partnerships

Perhaps it’s time to take another look around at local real estate industry
professionals, like your favorite title insurance agent, who you may be able to
cross promote and collaborate with in order to get more from your marketing
budget, reach better prospects, increase ROI and get more deals done faster.

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Oct 03

5 Ways This Title Company Can Boost Your Real Estate Business

Need a little help cranking up your business to cash in on the coming surge in
business before the end of the year?

Perhaps a few more new clients, more visibility for your services or just a way to get
more out of your current marketing budget?

What’s your current title insurance company doing to help you?

5 Ways This Michigan Title Insurance Agent Can Help You in the Next 90 Days

Whether you are a real estate agent, investor, loan officer or owner of a real estate
related business here are 5 ways My Coordinator LLC can help you in addition to
first class title insurance services…

1. Free Marketing

My Coordinator includes a free 6 year follow up marketing plan for all clients to push more business back to you and to cultivate more referral business.

2. SEO & Internet marketing

Want to raise the visibility or your services, reach more targeted prospects and increase
your search engine rankings? Ask about exchanging blog posts or social media
posts to reach more of your ideal prospects for free.

3. Wholesale Properties

Need access for more viable wholesale property deals for flipping yourself or fueling your
clients with more deals to increase your own business volume. I can help with
finding wholesale real estate deals whether it is single homes or bulk deals
you are after.

4. Generating More Referrals & Positive Feedback

I know just how important reputation and referrals are and that’s why I’ve built my
business on first class customer service and fast title work so that you look
great and your clients will rave about doing business with you.

5. Leads, Leads, Leads

Want more home buyer, home seller or mortgage leads? Maybe I can help…give me a call on
586-453-9260 today to see how we can work together.

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