What’s Coming


Here’s the Expected Content (to be revised per needs and demands):


Legal Documents and Articles or Videos


  • Naming your company(ies);
    using "d.b.a." and nominees
  • A better Borrower’s
    Authorization to Release Information
  • A concise (2-3 page)
    explanation of the A-B-C short sale process to introduce
    it to real estate brokers and help them understand it is
    legal
  • Handling Broker’s
    questions and objections about fiduciary duty to A vs. B
  • The 10 or more most
    Frequently Asked Questions, with answers
  • Taking the Affidavit
    of Understanding seriously and adjusting it for an
    investor-buyer who holds a real estate license
  • The Option Addendum to
    the CAR NOD PA form and how to use it
  • Which CAR forms do you
    use and not use?
  • How the (non-)Listing
    Agent sets up the commission relationship with
    distressed Seller
  • How a Listing Agents
    handles the Withdrawal from Listing Agreement, or,
    alternately honors an assignment of rights to the "B"
    investor purchaser. Pros & cons.
  • Extra language to add
    to the MLS comments, etc.
  • Extra language for the
    B-to-C purchase transaction
  • How many hats can you
    safely wear? (Buying agent? Selling agent? Investor?
    Negotiator? Etc.)
  • Establishing
    agreements with "finders" or "bird dogs"
  • Establishing
    commission agreements, calculations and splits between
    the A-to-B and B-to-C transactions
  • Sensitive issues in
    presenting information in the short sale package (esp. a
    "listing agreement" when there technically isn’t one)
  • Handling A’s lender’s
    restrictions on transfers (B of A #10 and similar)
  • Staying clear of
    Section 1695 Home Equity Purchaser Law
  • Staying clear of
    Section 2945 Foreclosure Consultant Law
  • Documents when B needs
    to step out to facilitate lender restrictions – and
    still make money
  • Understanding legal
    vs. illegal "flipping"
  • Understanding debt
    forgiveness income, form 1099 and how to safely explain
    them to sellers without practicing law or other
    liability traps
  • Understanding risk of
    deficiency liability and how to safely explain them to
    sellers without practicing law or other liability traps
  • Who can legally be
    paid for loss mitigation services? If the banks will pay
    . . .
  • Working with
    transactional funding sources
  • Documents for finding
    and using private money
  • Using non-funded
    closings when, and if, possible, to save funding costs
  • Cancelling a
    transaction if the Seller goes postal on you
  • Handling transactions
    when the seller might abandon the property and/or move
    away
  • Understanding
    California’s licensing of "Private Fiduciaries" and how
    it affects the use of powers of attorney and trusts
  • When is a team member
    an independent contractor or an employee for income tax
    purposes?

    Practical Business Tips:


    • Maximizing tax
      deductions in your businesses
    • Does an
      out-of-state (i.e. Nevada) business entity make
      sense for you?
    • Understanding key
      differences between LLC’s, S corporations, and C
      corporations
    • Protecting capital
      gains treatment if you flip properties and hold
      long-term
    • Establishing a
      business image without infringing other’s
    • How doing loan
      modifications, or making loan modification
      referrals, can help or hurt your business. Who can
      legally handle loan mods in California? Who can
      charge an advance fee (plus pending legislation that
      might change the answers).
    • Choosing and
      "training" an escrow office
    • Choosing and
      "training" a title company
    • Finding and
      working with lenders for the C purchase – it’s tough
      out there
    • Cheap and
      practical ways to establish separate identities for
      your entities and "d.b.a"s
    • Cheap and
      practical ways to handle web site and Internet
      issues
    • Creating an
      entrepreneurial mind set. How attitude and thoughts
      determine the height of your business
    • Using the
      Realeflow software service to make your business
      more productive, limit legal liability, and provide
      real time transactional status to your team members
    • How a seller’s
      bankruptcy can hurt or help a short sale.
      Encouraging them to time it right.


      Current Topics and Alerts;


      • Lender’s
        tricks and restrictions to deter "flipping"
      • Changing
        issues and requirements from different title
        companies
      • What’s
        happening for real members "in the trenches"
      • Lender demands
        for seller’s notes/contributions to non-recourse
        debts
      • What’s not
        working for C lender seasoning issues?
        Differences for conventional vs. FHA
      • New
        legislation that could affect the business?
        Recommendations for political action.


        Special benefits and possible advance membership programs or products:


        • Subcribers receive an additional $25/hr. discount
          from hourly based services with Ballard Law
          Office.
        • General
          documents, such as the concise explanation
          of the process for broker review and the
          FAQ’s (on a pick and choose basis; you don’t
          necessarily pre-answer all objections) can
          be personalized from Ballard Law Office for
          RESI members who also become clients of
          Ballard Law Office.
        • Referral
          to preferred title, escrow, transactional
          funding, and end buyer lenders who
          understand the system, service your area,
          and want your business.
        • Ability to
          participate in test programs for creating
          solutions to seasoning and similar issues
          before they are released.
        • Preferred,
          early access to the FHA and conventional
          seasoning solutions when they are developed.
        • Provide
          master documents as form-fillable PDF
          documents; Realeflow automated forms; and/or
          customized to your business.
        • Assistance
          with creating presentations to brokers, etc.
        • Making
          deals work that inadvertently go to
          foreclosure
        • The
          Ultimate Liability Limiter: A California
          specific booklet (and/or DVD/webcast) that
          explains to Sellers their different choices,
          the option contract A-B-C method, and how
          the investor driven short sales model may
          work best for them. Will contain a sellers
          written acknowledgment to sign for your
          file.
        • Applying
          similar documents and concepts to an REO or
          foreclosure auction-based business

 

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