marko rubel’s - amazon s3 · transcripts november 2015 . ... hard because we are in a great...

Tele-Coaching Q & A Call

Turn-Key Systems, Inc. Tel (866) 598-2030 Fax (858) 278-2668

Answers to Your Real Estate Questions For Today’s Economy

Marko Rubel’s

Tele-Coaching

Q & A Call TRANSCRIPTS

November 2015




Marko: Good evening, everyone. Marko here. I muted the line so we can have a clear conversation. Okay,

you just need to mute yourself. Okay, so guys, I just muted everybody so we can have the clear

recording and you can go back and follow everything. Obviously, the first few minutes I always

leave it open so you guys can hear other people logging in. It is good to hear that there are more

than three people on the line, and we have a lot of questions. How is everybody doing? How are

you guys? I mean, how is life?

I hope you're doing well. I hope you ... Actually, I hope you're pursuing your dreams. I mean I

hope you're building a business and trying. I know it's not easy and I know many of you have full-

time jobs. I know some of you are working 60 hours plus a week. I know some of you are

commuting 20 hours a week, spending in the car to just get to work and back home. I know it's not

easy, but it's possible and if you're working 60 hours a week that's one more reason why you have

to get yourself out of the rat race.

It is feasible and possible to do it at this current time with the rules and strategies that I'm teaching

you. I mean I've done it. There is plenty of people who are doing it. If you haven't read my book

yet, you should get it on Amazon. It is two bucks; for two bucks I think you can afford that. The

book also comes with video interviews and training talking to people who went from zero to a

million bucks in equity using the exact same things that you guys are using.

Same strategies, they hadn't bought a house before they met me. Suddenly a few years later there's

huge cash flow and equity and all of that. It is possible. It is not simple. It is not get-rich-

overnight. It takes building the business. It takes going through the hoops. It is so worth it at the

end. I encourage you to really push forward to being patient because in my dictionary patience is

not a virtue, being patient is not something that I think is a good thing. I think it is better to be

impatient. Where you feel the sense of urgency and you want to get things done quickly. The

quicker the better and push forward.

Instead of being patient and wait for better days and take it easy. I really urge you to push forward

hard because we are in a great market. Whatever you pick now and buy it'll be worth more a few

years down the road. It is really, really, really good that you start making money. Even if it's not

worth more, just our methods ... Our methods don't rely on appreciation. It is methods our way of

investing, which are called niche to wealth, because it's a little niche in a way. We are buying

house without using your credit. As I say always to people I say, "Hey, I don't know about you,

but I love buying homes without using my credit."

Right, so we have this strategy where we can profit up front, generate some cash right away, and

also build a long-term wealth. Then obviously some properties don't meet this criteria, you can flip

them. Within the course I'm teaching you wholesaling I'm going to show you how to flip.

Wholesaling is not where the money is. You don't get the cash flow, you don't get principle

reduction, you don't get the tax advantages, you get nothing.

Right, so wholesaling is really not your niche, but I'm teaching you that as well. You focus on a

limited funding program, nice houses, pretty houses, when you come across an ugly house, use the

strategies, use the agreements that you get in the system, and flip it, right? All of that is perfect,

perfect for this current time. You have to really push forward.

It is get as much knowledge as you can and go on appointments, start talking to people. Listen

guys, if you go through my DVDs you'll know more than 99.9 percent of people out there when it

comes to real estate. Even people who are in real estate like brokers, agents, even sometimes

attorneys. You will know more about this specific niche than they will. Take it from me. I bought

houses from real estate attorneys and they had questions that most of you would not ask. I am

saying questions that didn't make any sense. The questions they were supposed to ask they never

asked.




I know that people don't have that much knowledge about this. This is really a niche. Do not feel

shy about going on appointment because nothing bad is going to happen. People going to they

want to talk to you, right. Everything is good. Everything is try to get knowledge and then also

saying that, if you haven't attended our four-day live training, you should go right after this call to

freeforeclosurecoaching.com. Freeforeclosurecoaching, right, coaching.com, and reserve your seat

because we don't have that many seats left.

It is coming up. It is exactly one month from now. You shouldn't wait for me to come to your

cities, because that training is four days of hard core boot camp training. It is not some speakers

coming in selling you something. It is basically me on the stage for four days, and some of my

partners. Talk about real stuff, it's very valuable. It will really help you. It is definitely worth your

trip.

Try to learn as much as possible because this market isn't't going to last forever. We are going to

jump on your questions now, but I just want to always give you a little bit of encouragement

because I see these deals coming across my desk. I see these deals, I see students from coaching

students because we deal more intimately with them so I know what's going in their life a little bit

more. When these deals come across I'm like, man, people are really getting some really, really

cool deals. There is some good money made out there.

Same thing for you. Same strategies, but you got to push a little bit harder. I know many of you

are getting deals because I see out of the questions and all that, but I don't hear, obviously, from all

of you exact details on that. As I said, it's great. Those of you who haven't started yet, hey, people

out there are making money with these strategies so please for your own sake get in and start

doing this as much as you can.

As I said I know that some of you have very few hours a day left, but on Saturday you can take

three, four hours and do the business then. Okay, now Mike, are you on the call?

Mike: Yes, I am, Marko, I'm here.

Marko: Oh, cool, I can hear you well, actually. That is good. Any words of wisdom from you? You always

have some and then let's start with questions.

Mike: Yeah, basically, like you said real estate is a good place to create the life that you want to live and

the dreams that you have. I don't know any other way that you can get there in a short amount of

time, but like Marko said it does take work, it does take effort. You got to understand how much

money you can make in it, and you have to educate yourself. It is not going to happen overnight,

but Marko's got all the training materials. You have got the live event like he's talking about that's

coming up next month.

If at all possible you do everything you can to be there because there's so much more information

crammed in four days than you can see on some DVDs here and there. It is all about taking the

action and having that burning desire.

Marko: It is what it is and like I said everybody creates their own destiny so it's important to take it

seriously. Let us start with questions. Let us help some people. Our friends should be doing a lot

of deals, and there are a lot of good questions. We have almost 100, 94 this time. We will stay

here until we answer every single one of them. Why? Because that's what we do. We are here to

support you so just know that we are here. We are not going to let you down.

When you have a deal, you're going to closing, you don't know how to structure it, use your deal

consulting, send it in, we'll help you structure it. Right, we are here to help you so let's start, Mike.

Mike: All right. The first question here they're asking in your method number five of your unlimited

funding method to buy foreclosure property, they say, "We need the standard purchase and sale

agreement, but is there any other agreement that we need to get signed as well?"




Marko: Okay, so question is, when you're buying a foreclosure property by taking over the loan, what do

you need as far as agreements. Okay, you need the purchase and sale agreement, but that

agreement has to comply with the law in your state. Just make sure that you take your purchase

sale agreement to an attorney or talk to someone to see if you have any funky laws in your state.

For example, you got to give them five days right of decision. Five days right to cancel like in

California. Just make sure that you have that.

Then as far as all other agreements, the only one you need to have signed is basically the closing

you'll have agreement signed. At that point once you have it on the purchase and sale ... Once you

have the purchase and sale agreement signed send it in and we'll give you steps. Use your deal

consulting and we'll give you steps what to do with ... which documents to bring to the closing and

et cetera. We will help you with that. It is easy.

Then Mike, another quick question here, if there's anything special with foreclosure law in

Nevada. Again, I don't want to go and describe law for every state because I really don't know the

law for every state. We almost have students doing this business in almost every state. It is not a

state that it's wrong. The state you're just here to spend two hours Google the foreclosure statute of

your state and figure out if there's anything special. I know in Nevada, Texas, Arizona, they have

nothing special. Florida has three days of decision. I think Colorado has. California has five days,

but as I said I don't want to go into specifics, because really won't be doing you a favor with that.

Okay, then another question here talks about the foreclosure leads are low. What do you do?

Listen, here's what you guys need to remember. Motivated sellers are in foreclosure or not in

foreclosure. The system you have teaches you how to buy properties whether in foreclosure or not

in foreclosure. It is absolutely irrelevant foreclosure, the number of foreclosures are down. They

are not down that much to actually tell you comparing to back in 2003, '04, '05, when the market

was hitting up, we were buying houses in foreclosure. Now it's nowhere close today what used to

be then.

I see it. I see it in our market. I see it everywhere. There are plenty of deals so as I said, there are

going to be people going through divorce, there are going to be people who are about to be behind

on payments. There are people who are behind on payments, there are people who have expired

listings, landlords, so there are a lot of other opportunities to chase.

Another question was, can you use your program for sheriff sales? Buying at auction you guys

don't want to do. If you are aware of the training I explain it more in details, but I'll give you just

two things here and then Mike you can jump another question. Basically, at the sheriff sale, the

auction, you got to pay cash. You don't get title insurance and you don't get home inspection. If

you're just starting and you don't have a lot of cash, you have no business being there. If you have

only 500,000 in cash you still have no business being there because you'll be flipping these

houses. You are not going to get cash flow, you're not going to get principle reduction, you're not

going to get tax benefits, nothing.

You will be basically fixing houses and flipping them. Too much work and that's if you have that

much money. Most people don't have that much money. If you don't have that much money you

have no business being at sheriff sales. Forget it. You don't need that. To buy the sheriff sales this

is for people who have access to million, two, three, and people who understand the game, who

have been in the game. You don't get title search. It is risky. For most people starting it's risky. If

all what you've done in your life is bought zero houses or maybe bought five rentals buying at

auctions it's totally not for you. Okay. Go ahead.

Mike: All right. Next question is, how can I use profit grabber to work with vacant houses?

Marko: Okay, so what do you do with vacant houses? Vacant houses believe it or not is going to be any

different than mailing through foreclosures on anybody else because you're still have to get

homeowners ... Got to have the homeowner to agree. Many houses are vacant because people are




having a different house or whatever and not all of them are in trouble. Some of them have it as a

second home, so it's ... But how you do it. Very simple. You input the list in the profit grabber, the

profit grabber will manage your mailings. Very, very, very simple.

Then once you get the property when you buy the sub-question was what do you do with

insurance? Just get a second policy to cover you as a liability, leave the original policy in place.

That is pretty much. Okay, next question, Mike.

Mike: Okay. It says they're in the early stages of foreclosure, of course, they've got a limited budget, and

they want to maximize their chances of getting leads, making appointments, they've got their

phone system set up, the hotline, and would like to know bandit signs or direct mailers or which is

a better option for generating leads. They do have profit grabber as well.

Marko: Oh, they don't have ...

Mike: Oh, I'm sorry, they do not have profit grabber. Yes.

Marko: I would say like this. Depending on your marketing budget that's where you're going to start.

Before you even start you need to call people on the phone and get comfortable talking with

people and going through the phone forms. That is the first important thing. Now, after that if you

have 100, 200 bucks a month, start with bandit signs and calling people. Do not do direct mail.

Now if you can put more money into that, then you will start direct mail. That is pretty much right.

Cold calling people from foreclosure list, absolutely. Yeah, I mean calling people, doing whatever.

Call everybody.

Now, obviously, you got to comply with the do-not-call list, but if you call 50 people, 100 people,

you're not going to have a problem. If you set up a telemarketing team calling a ton of people and

voice blasting them and all that, then you really got to watch to comply with do-not-call list.

What you will do you will take the records, we've done that in the past. You take the records and

you will send it through a company that does append numbers and also screens against do-not-call

list. Then you give the list to telemarketers and they start dialing. You could do that. As I said,

that's an advanced strategy that you wouldn't do at the beginning. The beginning you just call.

Okay.

Mike: Yep. All right, the next question is asking discounting of junior liens a viable strategy in the state

that only has a 60 day foreclosure process to the sheriff's auction.

Marko: Absolutely. If you get these people in the first two, three weeks you call the lender and lenders

knows that in a month they're losing everything or in two weeks they're losing everything, you can

get a discount down right there. Absolutely is a viable strategy. There is a benefit, also, because if

your foreclosure process is six months then you have more time to work with the lender, but guess

what, the lender has less urgency. If you have 60 day period you have shorter time to work, but

there's more urgency. See what I'm saying? Absolutely, absolutely my friends. All of that is

feasible. Let us move on.

Mike: All right. The next question is saying, Hi Marko, how can I use your strategy to buy a house for

myself subject to, and it looks like he's looking at a house that's listed with a real estate agent for

159 and wants to offer 130,000. The house is worth 200.

Marko: It is listed ... Is it listed?

Mike: Well, he just says that [inaudible 00:17:07] the price ... Yes, it's listed. The price is $159,000,

offering $130,000, and the house is in a neighborhood value of around $200,000.

Marko: Okay, guys, so let's talk about this. This is a good question for you to learn a couple things. If the

house is listed for 160,000, 159,000, what makes you think it's worth 200? If it's listed only for a

week there is a very small possibility it's worth 200, but there's still a possibility. If it's listed for

few weeks or a month 40,000 below market I bet you that you're wrong on your [comps 00:17:47].




If this house is listed at 159 I can almost guarantee you that it's probably worth 150. Just from

experience looking at thousands of houses and [comping 00:17:58] thousands of houses.

If something is in this case what 20 percent ... Listed 20 percent below its value, it will go. Right,

so if it's listed for any time longer than a week it's probably not worth 160. Now, you would offer

130, that's fine. The most important thing you didn't tell me here, which makes me think that you

maybe didn't read the course yet, maybe you were about to renew, you're asking me can you use

[inaudible 00:18:29] funding strategy?

What is that? We are using the existing loan. That is what my strategy. I [inaudible 00:18:34] use

your loan. You didn't tell me what the loan balance is. You want to buy a property for 130,000,

what if the loan balance is 140? What if the loan balance is 100? Right, if you're offering 130, the

loan balance is 100, how are you going to bridge the 30? Are you going to have seller [inaudible

00:18:52] note? Are you going to pay 309? What are you going to do? Right, those are all the

questions that you need to have answered when you're going to that appointment.

The short answer to their question is yes, absolutely it's possible to buy your own home using ... I

mean I have had plenty of students who have bought a home [inaudible 00:19:05]. Right, but it's

possible, but as I said it's also important to know that you need to understand the numbers. That is

why I gave the longer answer.

Mike: Yeah, and I want ... Hopefully everybody picked up on what Marko said because it's very

important and most people overlook it. Like he said if the house is listed on the MLS for 159,000

for at least a couple of weeks, don't think that the house is really worth 200,000 because it's

probably not. Like Marko said, it's probably more realistically worth 150, a little less than what it's

listed at. That is a huge thing that most new people overlook. They think houses are worth a lot

more than they are and that's typically not the case when they're listed on the MLS.

Marko: Yep, absolutely, and if you're going up front thinking about finding a house for yourself, how to

get motivated sellers to do that and all that, same way like all the marketing. Guys, let me just tell

you, the course, the system that you have has a lot of inside how to market, how to do this, and

everything. There is a lot of things inside, so as I said don't ignore that. Study that. Go through

that.

The next question is kind of long. Let me just see. Someone is talking about he wants to know if I

have a network of fix-and-flip investors so he can flip some deals to him. He is talking about 65

percent model. If you can find properties at 65 percent where you can also build in your 10,000

assignment fee, then what you will do is you have three solutions here.

Inside your Diamond membership you have access to cash buys database. You can use the cash

buy database, send the a postcard, and tell them you have access to these deals. That is one way to

do it. You have it inside your Diamond membership.

Then you could also go to your courthouse auction steps where people are bidding. They buy for

cash, and tell them, you are a wholesaler, you can sell them deals. You could do that as well.

You can go to a real estate investment club and advertise the deals at the start of the investment ...

At the start of the meeting. Those are the things.

Now, looking at your numbers, all that I would say is look a little bit better. I don't know if you're

new. If you're new to this business this numbers kind of look to me not as real. If you are seasoned

to this business, then obviously you know what you're doing so the numbers are fine. If you are

new I would just suggest recheck this because it just looks a little bit ... I can say from experience

and working intimately with people in many different parts of the country, finding deals at 65

cents on the dollar all day long it's not that easy.

Then you're going to make ten grand on assignment fee on a good day. On a good day, very good

day out of ten grand you're going to pay ordinary income tax on it and you'll be left with five, six,




seven. Look, you're better off finding a house at 90 cents on the dollar and signing it on a

sandwich lease option and getting 10,000 down, which you don't have to pay any taxes until the

option is forfeited or exercised. What I am trying to say is fix-and-flip or flip-and-wholesaling, not

the best strategy in this market. You have the best strategy.

Okay. Let us do next. By any means if you can find and doing this and you're seasoned, you're not

a beginner, then by all means just go for it.

Mike: Yep. All right. The next question they say, if we have a title company to do our deals, why do we

need a lawyer if we already know basic real estate? Are we going to be running to a lawyer every

time we have a question?

Marko: No. You don't need a lawyer to [inaudible 00:23:18] questions, that's why you have me, you have

the forum. I will give you the answers. You need a lawyer for the legal questions that you see like

this. Not a problem there. Absolutely not. You need a lawyer to get the purchase sell agreements

down, to look at any specifics, and when you need them. Title company closes the deals, you have

questions about deals and everything, send it to us. I don't answer legal questions, but you're not

going to have legal questions. Absolutely. No, don't worry.

Mike: Okay. Next question they say, I have sent out letters and postcards out to all the 120-day-late

owners in my area. It has been a week now and the phone hasn't rung. What is my next step and

what letter should I send out now?

Marko: Okay, Mike, explain a little bit about lates. Two questions, three questions about buying mortgage

lates. Guys, buying the list of people who are 30, 60, 90 days late on their mortgages is a valuable

strategy, but there's another but. Mike will explain.

Mike: Yeah, the first thing is is you need to make sure that the list is 30, 60, 90 days late on the first

mortgage and not just being late on maybe a second mortgage that they have. Then on top of that

just because they're late, doesn't mean that they're motivated and they want to sell their house.

When you market the 30-, 60-, 90-, 120-day late, that's a campaign that you're going to be happy

to drip on. Depending on the foreclosure process in your area some areas are only 60 days, some

areas are 90 days, some a year, some two years. A lot just depends on what part of the process of

how long it's all going to take.

Some people are motivated in the beginning, but I would say nowadays most people aren't because

even though they're just late, their credit is already shot, but they're not making payments. A lot of

times they know they can live in the house for a long time before they have to move out. A lot of

times their motivation level is low. That is a campaign that you have to drip on and not just send

something out and expect a phone call in a week that people are going to be calling you.

Marko: Yep, that's the deal. Okay, so someone here wants to see how the low-ball offer system works in

profit grabber, right. How you make offers directly to listing agents, how do you do that? You

have a system inside profit grabber that's called low-ball offer system. What it does it automates ...

Calculates the values and automates the blasting of offers. This whole strategies, search the MLS

by keywords, I explain that in the profit grabber marketing handbook that you got with the

software, with the profit grabber. Then you search the MLS, have your agent search the MLS. You

get the records based on the keywords. You get a listing. Input into profit grabber, and profit

grabber will calculate the offers and it will fax it out.

You have two ways. You can use the modem in your computer. If you don't have it you can use

online faxing. I think we have a couple companies that you can get an account with them, it's ten

cents a page or something. You can send out the blast out the offers. That is how it is.

Now, again, is that your main tool? No, because that's a tool to find wholesaling deals. That is not

a tool to find limited funding type of deals. Right, and the person is also asking if they should be

doing REOs, no. You don't want to be chasing REOs. If you are chasing REOs, you're working




way too hard, you're going to make very little money. This is not the time for REOs. This is the

time for different strategies. The strategies that I'm teaching you. Keep that in mind. Do not do

REOs. I mean no. No. Do not have time to explain it, but no.

Mike: All right. The next question here is, what is the difference between subject two and a wrap?

Marko: Subject two is when you basically get a deed and the existing loan stays in place. Wrap is the same

way, you get a deed, the existing loan stays in place, but you're giving a mortgage or a deed of

trust back to the seller that wraps the existing lien. A little bit hard to explain, talking without

drawing. We do that at the training and all that, but as I said, there's the difference.

If you are talking to a title company then you are saying, do you guys do wraps? If they say, yes,

then you know they're doing subject tool. The only difference is they're recording one extra

document which is deed of trust or a mortgage. That is pretty much. Let us go.

Mike: Yep, the next question, if a property as already been okay'd for a short sale, could it still be a deal?

Marko: Yeah, I mean okay'd for short sale. The short sale is approved, that means it got to be done paid

with cash. Then yeah, then forget it. You don't want to be paying cash for houses. Then if it's just

listed as a short sale, then it depends. If it has two loans, then yes. Mike, somebody is also asking

if we have investor forms, where the forms in the membership area. Guys, there are download

forms there. You can see [FIE 00:29:23] download forms. You have that in the membership area,

not a problem.

Mike: Yep. Let me see. Somebody is saying that they've been marketing for a while and [Yonkers

00:29:38] and the business is all set up. They have a profit grabber, but don't know why I have not

been getting any call backs. Said they're getting some letters returned in the mail, can you give any

advice?

Marko: Okay, so first thing here is if you're mailing to foreclosure of something you should be mailing

check letter. Check letter should be your first mailer because it has the highest response. With that,

now you have to verify the addresses are good that you're sending. Randomly take some addresses

out of your list and verify somehow. You can pull the property profile from profit grabber. You

can go on tax assessor's page, whatever is easier and make sure that it's going at a good address.

Now depending on the list the response could be .3 percent to up to 5 percent. It depends what

your list is sending. If you are sending to a foreclosure list in a major metropolitan area which has

a lot of investors then your response is going to be less than one percent. That means if you send

out 200 letters is it likely you'll get no response, no calls? Yeah. If you send a thousand letters

you're probably going to get whatever, 10 calls, 15 calls on a good day.

It just depends. Think about it a thousand letters, ten calls is one percent. If you're talking about

less than one percent then we're talking about less than ten calls on a thousand letters. It just

depends where you are. I would say it's the most important thing is for people to be having mail

that looks good that's not mailing label on it, and check the addresses. That is the most important.

Here is an interesting question. The student was going to see some opening houses in the area and

some realtors feel like you want to take the house from them. Yeah, I mean, you'll never get a deal

by going in open houses. If you are going looking open houses the only good thing of that is that

you'll learn how the neighborhood is and how the houses look from inside in that neighborhood.

You are not going to get a deal. Agent has the deal, they want to sell it for cash, whatever. There is

no deal there. No. Okay.

Mike: Yep, the next question, they live in California, they said a site that was recommended to them was

property radar and it's $59 a month and gets a foreclosure list and has [inaudible 00:32:25]

together. Is that a good deal? Will it integrate with profit grabber? Are there any other

suggestions?




Marko: Any list integrates with profit grabber, guys, so you don't need to worry about that. Any list. Profit

grabber can input any list as long as it is in data format. Every list is going to be data format unless

you have an agent who gives you PDF expired list that's in the PDF form. It cannot do anything

with it. PDF is an image format, not data. We use property radar. We use some other people's

foreclosure [inaudible 00:33:04] service, yeah. Though they offer for 60 bucks a month with

[inaudible 00:33:14]? That is ... Check that because I doubt it. 150, yeah, but 59? That sounds too

cheap. Ours is like 180. Yeah, absolutely it's integrating with profit grabber. List in California

[inaudible 00:33:33] service is also another one. Okay.

Mike: Okay, next question, is there any way we can have a live demo of someone actually doing a deal?

I just want to be able to hear the questions that are being asked and the responses by either party.

They say they are registered for the live training in December, but just in case they get a deal

before then they'd like to have the confidence.

Marko: Yeah, I can't ... There is no ... We are going to cover ... You are going to see me negotiating during

the deal in December. I will be talking about it. I am going to go through a lot of negotiation

questions, objections, and all of that. We are going to cover it into a lot of detail. You will get it

there, right, but it's not really ... To look someone doing a deal that's kind of hard to do.

Okay, there's a question about a wrap mortgage. You don't, first of all in this question, he talked

about hard money lenders, you do not use hard money lenders in our business. What is about wrap

mortgage? Do not even worry about wrap mortgage what it is. You don't need to know that unless

you already did three deals with my system. If you have done a few deals with my system, then

you're going to learn more about wrap mortgages. If you haven't done a deal, why worry about

something and complicate your thing? You don't need the wrap mortgage on your first deal.

Let us not complicate things. Here is the one problem I see people do. They make a big boo-boo of

everything. They make it complex on their own, and then it's hard for them to start. Guys, this is

pretty simple if you don't complicate it. You go there, get a motivated seller, sign the purchase sale

agreement, go to the closing, title company prepares the paperwork, everything is done. You have

got a house subject two don't worry about keeping the house for a long time whatever on your first

deal and going through all these different things that need to be done in that case.

No, put it for sale, cash out, make 20, 30 grand and then go back. On your second deal then you

take it to a more sophisticated level. You sell it on a wrap or something like that. Your first deal or

first few deals, no reason to do that. Do not complicate things. Okay.

Mike: Yep, next question, typically is there a lot of competition when we're marketing to people in

foreclosure and pre-foreclosure?

Marko: Yeah. I mean competition is there, but again, why worry about it? I can just tell you one thing now

that you will find out that the strategies I'm teaching you less than one percent of investors know

out there. Guess what happens? You chasing the foreclosure deal and another investor chasing

foreclosure deal. You know how to use the existing loan, they come in with cash. Guess what?

They are going to give that seller, they can only deal with that seller if that seller has 30 percent

equity or more. If the seller has only 20 percent equity they can't help them.

Why? Because they have a cost of capital. They have points and cost of capital. For them to buy a

house at 70 cents on the dollar is the same cost, entry cost as for you to buy subject two at 80. You

just eliminate them. You eliminate competition by knowing this niche strategies.

Mike: Yeah, and that answers the next question. It just says, what makes us different from our

competitors?

Marko: [Inaudible 00:37:02] different what I said. You know better strategies and you will soon know

better marketing. After you go through DVDs and even if you come to a training, live training,

you'll be a lot better negotiator than them. You will see. I mean I cover how to negotiate these




deals in the system that you have, but in the live training I go in depth, in more psychology on

that. I could be giving you 10, 20, hours. I could give you ten DVDs, full DVDs on just how to

negotiate. You don't want that, but there is a lot of details and psychology on that. As I said you'll

be prepared.

Next question is interesting. Can you explain the Dodd Frank? and how this activity is regulated?

Why you worry about Dodd Frank? How many houses are you selling on wraps a year to worry

about Dodd Frank? Dodd Frank has nothing to do with you buying houses subject two. Absolutely

nothing to do with that. What does Dodd Frank have to do with? Has to do with when you're

selling on owner financing on a wraps regularly. If you sell three in your name, three in your

wife's name, three in a company name, whatever, you're still fine.

Ask me that question after you've done two, three houses, sold them outright, made cash then got

another two, three, four, five houses, you got sell some on lease option. You will sell a few on the

wrap. Then let me know and I'll explain Dodd Frank at that point. At this point you really don't

need to know. Then as far as Dodd Frank again, it's just a question of compliance. It is really

nothing. It is not a show stopper even when you start doing 20 deals a year. Not a problem.

Mike: All right. Next question they're saying, with the new truth in lending disclosure it has increased the

time for new loan closings from 30 days to 45 days and I'll say even up to 60 days. I use this as a

selling point for distressed homeowners who are looking at a foreclosure sell within 30 days as we

would not have time to get a new loan. Are 45 day closings normal?

Marko: Listen, what you just said, very good point. Guys, what you just heard, that's a very good point.

One of the things you could say when you're sitting down with a motivated seller, foreclosure

seller, say, "Hey, you know, the laws are basically require for the loan to go 45 sometimes 60

days. Just for that rule there's no way. I mean you have to close within two or three weeks." Yeah,

that's another reason why the only buy that you can get is someone who's going to come for all

cash or someone like our professional company, you point to yourself, you point to you and say,

"Someone like us who are professional home buyers, and then we can close very quickly." Yeah,

absolutely, good things to point out.

Mike: Yep, absolutely. Somebody is saying the accelerated courses are wonderful in our membership

area, however, I need a video, an audio for them to be able to be downloaded.

Marko: Yeah, they are not. You log into the membership and you watch it there. We don't make the videos

downloadable because then people will be ... We don't know who would be posting them over the

internet and everything. Just log in and watch. Okay.

Mike: Yep. Somebody is saying according to the October 15th ...

Marko: Mike, Mike, let's make the question simple. Basically, they're saying that the new HUD, which is

[inaudible 00:40:38] whatever you call it, getting affect, what's going to happen subject to

investing? Nothing is going to happen. Look at that new form, new HUD, it has the line that says,

subject two.

Mike: Yep.

Marko: Okay.

Mike: Absolutely, yep, nothing will change on that. Let us see. I was told that most realtors either cannot

or will not supply expired MLS listings in Excel or CSV format. Since that is often the case,

which it's not, is there any other alternative to entering the lists into profit grabber, other than one

at a time?

Marko: No, absolutely that's not true. Realtors will supply. I don't know who told you that, but realtors

will give you the list in Excel or CSV format, absolutely, they will.

Mike: If you've got the right realtor working with you.




Marko: Yeah.

Mike: Absolutely. Let me see, in the past I used matching module, let me see, I used matching module,

my credits ran out. Did I manage the debits correctly? Is that about the average yield? He said 20

...

Marko: I would know what you mean by average leads. Matching module is basically charges 20 cents a

math so I don't know it tells you the thing.

Mike: [Inaudible 00:42:20].

Marko: Yeah, it tells you [inaudible 00:42:21] and it matches 95 percent of time it finds the names. I don't

know so the average yield, no, it's 95 percent of time the profit grabber is matching module will

find the new addresses. Yeah, no, yeah.

Mike: Yep. Next question says that they purchased the house in August to fix and rent, they attended the

Chicago live event in October, and now are wondering if they would be able to offer it as a lease

option instead of renting. They said they were going to rent it, let it sit a few months, and then

refinance and get my money out if it is ... Out of it to use for another purchase. Can I refi with a

lease option?

Marko: Basically you're saying that you would basically you're wanting to rent the house and then

refinance to pull your money out, right. Now you're considering doing a lease option instead to

eliminate the tenant headaches and get better rent and can you refi? Absolutely. All that you do is

you show it to your lender the lease document. Lease purchase document it's two. There is a

normal lease and there is an option document you give to your tenant.

When you are going to a lender you just show the lease. In this case you'll be better off because

the lease option will give you higher rent payment. Meaning that your lease will show higher rent

payment, which will make it better for your refinancing case. Yeah, absolutely. Okay.

Mike: All right. Next question, they want to put up some bandit signs, but not sure what telephone

number to use. They want to know where they can get an inexpensive number and can they use a

trac phone, pay-as-you-go?

Marko: Yeah, I guess you could use it. I mean an inexpensive number you just get a number from your

local company. It doesn't need to be an 800 number, get a local number. Not a problem. Guys, you

don't need an answering service answering your phones right at the beginning. I mean the

answering service you need answering service once you do, I don't know, you need answering

service once you start doing spending a thousand bucks a month in marketing. Before that you

don't need it.

Mike: Yep. Then somebody's asking, will this call cover foreclosures and the steps involved?

Marko: Sorry, can't cover the whole foreclosures. That is what you have the whole system in front of you.

The system covers foreclosures. Foreclosure investing is it's that field has depth. You need

knowledge for that. It is not something that I can just go here and cover in two hours. Right, if you

want to learn the business that can make you 20, 30, 50, 100 thousand dollars a pop, and then 50,

100, 300 or more thousands a year, this is not something that can be learned on a call, explaining

that. No, they've got to learn that. This call is covering questions regarding foreclosures, not

foreclosures. Obviously, through all the steps no.

I could just give you a list of steps like really quickly. First step is you learn. Then you start

calling people, go on appointments, practicing the script, then you start marketing, then you go on

more appointments, and you're learning at the same time. Then as you get on appointments the

more you learn the better you're going to recognize opportunities. When you don't have the

knowledge you don't know what's ... You can't see the opportunity. I mean I'm telling you

opportunities are all over you. The question is being able to see them.




Then with the knowledge you know what the opportunities are, sign the purchase sale agreement,

go title company, title company closes, you get a house, and then you put it for sale. One way

whatever way you're selling it. Those are the steps. It sounds simple. It is simple, but every step

has a lot of things that you have to absorb, learn, and study, and then do it. I am going back to the

first thing, is it worth it? Absolutely it's worth it.

Where are you going to be a year from now if you don't do it? If it took you three months, six

months, a year to do a deal, is it worth it? Absolutely. You are still making that deal. If you made a

deal in your twelfth month, twelfth month you still made more money on that deal than many,

many people make working whole year. Absolutely, it's all worth it.

Mike: Okay. The next question, we know we get the agreement and the deed and submit it for the

reinstatement, but what happens after that on the foreclosures?

Marko: You don't get the agreement and the deed. You sign the purchase sale agreement, you go to title

company to do the closings. You don't take the deed on your first deals just like that. You need to

have a little bit more knowledge. First deal, don't get a deed. Now if you have a deal that needs

more money to reinstate, then you would sign the purchase sale agreement, get a title search done,

and if there is more than 35,000 for each of us profit then just submit it over the website and we'll

... I may partner with you on that. Okay.

Mike: All right. Let me see, if I'm a licensed insurance agent in California, would it be an advantage in

terms of credibility or a disadvantage with regards to disclosures?

Marko: I don't think it will be actually advantage or disadvantage. I wouldn't even mention it. I wouldn't

even actually mention it. Mike, what do you think?

Mike: Yeah, I mean I don't think either way really. Being an insurance agent, no. Nope.

Marko: Yeah, it doesn't.

Mike: Nope, not [crosstalk 00:48:21] ...

Marko: Mike, there is one question here, next question talking about how do you buy houses from a

builder? In most cases you don't.

Mike: Yeah.

Marko: They build a whole thing with construction loan that is cross-collateralized many houses, not only

one, or they bought it for cash and they have cash in it. There is no loan to take subject to. You are

not going to be buying houses from the builder in this case. Absolutely, no. Even if you have a lot

of cash, you're better off doing the strategies we're telling you for many reasons.

Another question, how do I get a home with zero down? The only way you're going to get it is

study the course, talk to people out there, when you find a motivated seller who doesn't have a lot

of equity, who has maybe 15 to 20 percent equity, you explain to them using that equity worksheet

that they're not going to net much, and that's how you get a zero down house.

Mike: Okay. The next question is saying, what is the best way to move money in and out of a 401k

checking account?

Marko: I don't know how you move money out. It depends on your 401k plan, I guess. You call them up,

see the way you do it, and they'll tell you how you're going to get money out. I don't know that.

You would just call your 401k company who is managing [inaudible 00:49:47] and ask them,

yeah.

Mike: All right. Next question, can you do a one-day webinar on just profit grabber tips and tricks?

Marko: Yeah, I mean I could, but it's really not necessary because you have on the help menu you have 30

different videos how to do things. You really don't need me to do it because I teach you everything




in those videos. How to input the list, all the tips and tricks in those videos, right at your fingertips.

Absolutely, it's there.

Mike: Yep. Someone is asking, where are your Craig's list ad samples located?

Marko: You have on the selling houses, I don't put ads for buying. All right, so on the selling you have

different ideas on the ads. Pretty much, here's your ad, if you're selling a house on this option or

wrap or something not qualifying, you're basically saying, no qualifying, any credit is fine. Then

you go into the house description. Very, very simple. If you are selling the house outright, you

don't want to ... I mean you can list it on Craig's list, but that's not going to get you a buyer. You

need to use a discount broker and put it on the MLS without paying three percent like I talked in

the training.

Mike: All right. It doesn't seem like it's a question as much as they're making a comment. If they live in a

very rural area, they're the largest population of 7800, the closest city is about 6700 in population,

they're about 40 to 50 miles away. Other small towns with a couple thousand people in it, has tried

many lists of pre-foreclosures, for sale by owners, expired ...

Marko: Okay, I see what are the questions here. Mike, Mike ...

Mike: What other mailing lists can they try?

Marko: Yeah, what kind of mailing list? These few questions are talking about how should I market if I'm

in a small population of five, six, seven, eight, ten thousand. Basically, when you're such a small

population of students that do deals in that kind of small towns they market to everyone. They take

the lists.

The only areas that are really bad that they don't want to go through, they eliminate those zip

codes or those areas. The rest they get a whole list and they do door-to-door mailing. They mail to

everyone. That is pretty much. You eliminate whatever you can eliminate and you will know you

don't want to buy, you don't want to be there, and then you mail door-to-door mailing. That's

pretty much. Your postage goes down drastically and that will be the deal. Okay, now ... Here is

one ...

Mike: Some is asking ...

Marko: Question that talks about I would focus on how to apply strategy and get a deal so then he's going

to have a really good quality [inaudible 00:52:55]. Is it possible to get it done? You know, it's a

question of self-esteem, she or he is asking. Listen, it's possible to do this. I have people from all

walks of life doing it. Believe in yourself. You can do it. You just got to believe in yourself.

What is the consequences? Nothing. Just go there, talk to people, see if you can get them signed,

go to title company, [inaudible 00:53:22] deal consulting we'll help you start, not really a big deal.

Right.

Mike: Yep, then somebody's talking about a house. They bought a house for 73,500. Let me see, I bought

this house for 73,500, I paid 6500 to reinstate the loan. My attorney who closed the deal refused to

get a deed for me without notifying the mortgage company. I ended up with a previous owner's

quick claim deed and a two year lease option. Am I safe or can I lose the home? I am paying 650 a

month and have 100,000 equity.

Marko: Whoa. You have a problem here because quick claim deed I said it inside the course, I said it in

the seminar, quick claim deed is the worst deed to use. It is the weakest form of a deed. You don't

want to use quick claim deed. My friends, you don't use quick claim deed. Quick claim deed you

cannot get insurance for this. When you're selling you're not going to be able to get title insurance.

You can't use. I mean I wished you asked me. You send in to deal consulting or something before

you did this deal. You have to use the deed that's common in your state. The deed that they use in

your county to close deals.




What do you do at this point? If you already closed this and this was recent, don't tell the seller

that you made a huge mistake. Just take the real deed that you can go on public records, see what

deeds the company has used, or call a title company and say, "Hey, can you give me a deed, blank

form of a deed that you guys use, so I can read it and I'll call you when I have a transaction?" Then

get a deed. Is that a warranted deed? Is that a grand bargain sale deed? It depends on your area.

That deed then go to your seller, bring the notary on call, mobile notary in the car and say, "Mr.

Seller, your title company just wanted me to get this signed and they send a notary with me. I just

want you to. You already signed the deed and you can bring the quick claim deed. You already

signed, it's recorded, but they just want this one because it has a different name, but it's the same

thing." Blah, blah, blah, and get him to sign that. Do not tell them you made a mistake because

they'll get greedy.

You definitely, you need to correct this; or just go to a different closing attorney and do the full

blown closing. If you have 100,000 in equity you may as well spend 1000 bucks or 2000 bucks on

a closing. Get an attorney to close this and then tell the homeowner, the seller, say, "Hey, you

know, for some reason the title company wants to sign some documents. If you can stop by

tomorrow at 10:00 or whatever the day is and then get them in. They are not going to ask

anything. Just don't tell them that you made a mistake.

Having 100,000 in equity and two years from now you're buyer goes to exercise their option and

you cannot get a title insurance, you have a problem. Your buyer will be pissed and you're going

to be really sad that you got to go back to that seller two years later who now doesn't want to sign

anything without a check. You got to be careful.

Mike: Yep. Somebody is asking, do you have any specific leave-behinds when you do door knocking?

Marko: Yeah, I don't have ...

Mike: Instead of just leaving a business card.

Marko: Yeah, I mean you can leave a business card that's fine. You can create a flier. I talked about a few

ways to create a flier inside the system. Any marketing that's in the system you could also create

as a flier. Yeah, absolutely. Then what do you tell people when you door knock? You say, "Mr.

Seller, I'm from the prevention center, whatever your city is, I can help you stop foreclosure in one

hour." Then they're going to ask you how is that possible in one hour? Then you say, then

basically you can get yourself in the door. Then obviously if they want to play, the sign the

purchase sale agreement, you can close the next day. After doing your due diligence.

Mike: Yep. Someone is asking, where can I find documents needed for owner financing?

Marko: Again, owner financing is not something that you're going to be doing now. On your first deal,

you're buying the house subject two and selling it outright or selling it on lease option. You have

all those documents there. I don't give you wraps in this. The foreclosure investing system is not

about wraps. At this point you can't. There is just too much. I would confuse you. I would be

doing you a disservice because you're ... A mouse cannot eat an elephant in one bite. Do not make

it too hard for yourself. Okay. North Carolina, Mike, what is his question? Go ahead.

Mike: Yep, let me see, after the pre-foreclosure has been filed there are strict rules as to what you can do

with the homeowner. Is this effective if you are only going to reinstate the mortgage and buy it

subject two?

Marko: Yes. You have to follow the rules. You have to follow the law, and you have to follow the rules.

Yeah, absolutely. Then keep in mind also use the same strategies for someone where foreclosure is

not filed yet; with expired listings and everything else. Yeah, absolutely.

Mike: Then, we already touched base on this one. They are asking, where is the best place to find pre-

foreclosures, realty track or do you suggest one or another?




Marko: Yeah. We talked about that.

Mike: [Inaudible 00:59:11] talking about they can get a list of vacant homes, free and clear properties in

the county, and all over the U.S. are these good leads to mail letters to?

Marko: Yeah, I mean try. You will see if they're really vacant or not. Try mailing them, but as I said, I

didn't hear really a lot of good things from these databases. You will see.

Mike: Okay. Let me see. Let me see. What ... Name ...

Marko: Uh-huh, go ahead.

Mike: Yeah, somebody wants to keep their name private in public records by taking title in a trust,

naming a friend as a trustee, can they just use their initials instead of a full name? Then they're

asking how do you put that in the PSA when you're going to be using a trust?

Marko: Okay.

Mike: Does the trust mentioned on the PSA or to the title company through other docs?

Marko: Okay, so here's the first thing. If you haven't bought a first deal, then absolutely forget about land

trust any of that. If you have done a few deals, then what you ... Then obviously you could do in

the trust, then your friend is the trustee on the trust agreement. Your name is nowhere and on the

purchase and sale agreement all you do is you put your company that's a public company, the one

that you put on your postcards. That is going to be the company that you use on the purchase sale

agreement.

Then at the closing that gets substituted with your trust name. Purchase sale agreement says, XYZ

Housing Solutions, Incorporated, and then at the closing Housing Solutions, Incorporated doesn't

take the title, who takes the title is the land trust. That is what it is. You cannot keep your name off

the purchase sale agreement. Your company name has to be on purchase sale agreement. You have

to sign it.

You can't just ... It's a business, why would you keep your name off the purchase sale agreement

with the seller? That would be cheating. You are talking to someone and you are signing someone

else's name? No, you're signing your name. There is nothing to hide. You are just the only person

who knows your name if you were with them is that seller. There is absolutely nothing. Then if

you don't want to do that you can't have the website because the website is going to advertise your

company.

Then if you don't have ... You can't be a member of Better Business Bureau because you're hiding

the company name. That is not ... You want to have your privacy by not having your name on the

public record so nobody knows how many houses you own, but as far as hiding your name on the

purchase sale agreement, no. That is not going to give you anything.

Okay, I have a question here from someone from my neck of the woods in Chula Vista. A lot of

opportunities, a lot of foreclosures, so people want to get paid close to full price, all right, save on

commission and all of that. Yet, you'll get all kind of things. You are going to get people who

want to get full price. You know what? Most will want to get full price, but you sit down with

them, you show them that they don't have that much time. You show them the net equity

worksheet, what they're going to get, and when you take them down the net equity worksheet you

get a 20 percent discount and they still think they're getting the full price.

If they get the full price they have to pay all these different costs involved. You educate them

down from that full price. That is what it [inaudible 01:03:10]. If someone says they want the full

price, I go on appointment. Sit down with them and we see what they want to get. Then you talk

them, show them.




They say, "Oh, my house is worth 400, I want 400." Show them the [comps 01:03:22] their house

is worth only 380. Then out of 380 you start taking off real estate commission, closing costs,

holding costs, missed payments, blah, blah, blah, and you get down to 350. That is the game.

Obviously, try to mail check letters be check letters work really well. Okay.

Mike: Yep, then the next question is they're asking you, what's the best way to start a conversation with

the title company that you want to use to submit deals to?

Marko: Go ahead, answer Mike.

Mike: The best way would be first of all you want to talk with somebody, title officer, escrow officer,

that's been doing the business for at least 20 years. I would ask for the branch manager. Then you

just want to ask them, I've got a property that I'm closing on on a wrap. How soon could you close

on a wrap? That is how you would want to.

Marko: Yeah, exactly, not a problem. The other question talks about if you want to go after HUD homes

and what's the procedure for that. HUD homes are the homes that were repossessed by the lender

and HUD was insurance on the loan, and basically HUD owns those homes. If you have cash and

you really want to risk your credit, then you could obviously find those HUD homes, go to those

auctions, HUD auctions, find HUD brokers, and all of that. I don't suggest you do that because

there's no subject two. You can't get a long-term financing unless you sign personally for it.

It is a lot better to send a mailing to FHA homes and get a house subject two with equity, and in

good shape. HUD homes usually will be a fixer-upper. They will need fix-up. That I would be

doing.

Mike: Yep. Somebody is saying, I hear a lot of times that you could obtain a home just by paying the

taxes that are owed. Is this true, and if so how would you go about doing that?

Marko: Look, it's like can you just get a 200,000 home for paying back $5000 in taxes? Yeah. Can you get

rich playing lottery? Yeah. You have people showing you, oh, I bought this house for $5000 it's

worth 100. Yes, once in ten years that happens. Right, so no, that's not possible because ... It is

possible, but it's not likely. It is not something you should spend your energy on and you should

chase. Absolutely not something you should be doing because it's just not smart.

Nobody is going to lose a house for 5000 and if house has a mortgage, most houses have a

mortgage on it, bank will pay those back taxes. No, I see this and other advertising going around

and just misleading you guys. As I said, if something sounds too good to be true, it usually is. Just

keep that in mind. Okay.

Mike: Yep. Next question, if a home is already bank-owned, should we be marketing to it?

Marko: You shouldn't, as I said. If the property is bank owned, the only way you can buy it is to get new

loan or buy it with cash. That is no-no in my book. Buy it for cash, cash is expensive, your exit

strategy is limited only to an outside sale, and then as I said or you're going to get your own loan

and you're going to risk your credit and you're going to be signing for it. I don't think so. I would

say no.

Mike: Okay. Somebody is saying that they live in South Carolina, judicial mortgage, very timeline the

[light 01:07:29] of redemption, let me see, the notice of sale advertised at the courthouse. At least

two other public places, three weeks prior to the same the first Monday of each month, 30 days for

upset bidding.

Marko: Yeah, to all of that ... Listen, all of that is not a problem. You should target defaults and you

should target notices of sale. If they are only few months before the sale or notice of sale shows

you only 30 days before, obviously, that's a more targeted list because not everybody who goes

into default makes it all the way through. Some people reinstate, some people sell. Your targeted




list will be the one that shows those who are older. Right, so yeah, absolutely no reason. This is

the business. You go after those. Nothing.

I mean the only ... You ask also if you should go by the older dates. It depends. You got to be

careful. You know what your time period is. You don't want to go to some notices of sale that are

way, way old and they already got foreclosure and they're already gone. You are wasting your

money [inaudible 01:08:43]. Be careful not to do that. As I said before the check letter really

works well. You get a double window envelope and that mailing works really well.

Mike: Yep. Okay, another question, what data is relevant to go after property aside from the LTV, loan-

to-value.

Marko: You know, you're looking for loan-to-value, right, so you know what that loan is and what's the

value, so how much you can buy by taking over the loan. Absolutely, but what other data is

relevant? Obviously, what's the monthly payment? What is the interest rate on the loan that you're

taking over? How does that compare to the fair market rent in the area? What is the condition of

the house later on? Those are all the things that you should look at. Okay.

Mike: Yep, the next question is saying, when buying subject two, would it be less confusing to the seller

to buy it in your company name and then quick claim it to your land trust using the sellers last

name?

Marko: Again, you don't need to ... You could do that, right. You could buy the house, get a deed in your

company name, and then quick claim it to the land trust. You could do that, but it's not really

necessary to do that. If you are buying subject two on the purchase and sell agreement, you put

your company name. When they get to the closing they don't even care about ... They are already

moving. They are already packing or they may be already moved out. They don't care if you're

taking the title in this name or that name. Does not matter.

If you want you can have that trust agreement with you and show them, look, this is the name of

the trust and here's the beneficiary. You have nothing to do with this house. I never had to do that.

Nobody is going to ask you at that point. The closing as long as they know they're selling the

house, you're buying it, they don't care how you take the title. It is your private thing.

The only time they care is on the purchase and sell agreement because they got the guy coming out

with XYZ company, and suddenly on the purchase and sell agreement is some LLC or some trust

or something. That raises a question because look, this guy told me his postcard said XYZ

Housing Services, but on the agreement it says, ABC, LLC, what is that? Is this guy representing

someone else? Is this some kind of scam? What is this? That raises questions.

As far as at the closing you're never going to have problem. I bought a ton of houses like this, and

I'm telling you I never had problems when I go to the closing and people see the trust name. What

is this? Oh, yeah, our company always gets it in the name of the trust, but this document shows

that you have no interest in the trust. Then there is a document that says they have no interest. Not

a problem, my friend. It has been done many, many times before.

Mike: Yeah, and also by doing that you lose anonymity as to really who owns the property. If you put it

in your company name, well, now it's on public record that you own it and now you're quick

claiming it to a trust. There is really no ... You can really just see who really owns the property.

Now you're on the chain of titles so it's not advisable to do that.

Marko: Yes. Absolutely. Okay, so what is loss mitigate, Mike, that's the question, pretty much, loss

mitigation worksheet, calculator in the membership area, right?

Mike: Right, yep. Yep, going through if they were to do a short sale what the lender would look at to see

worst case scenario what are we going to end up with? What would the house really sell for? That

is what the worksheet is. What the bank has to see what they're looking at for their worst case

scenario.




Marko: Yeah, absolutely. Absolutely, okay, that's good.

Mike: Okay, so someone is saying they spoke with a couple of attorneys and they're saying they must

disclose to the lender if the property is being taken subject two. Let me ... No title insurance

company will issue title insurance and that the attorney is liable. Well, I would say first of all, just

because one or two attorneys doesn't want to do something doesn't mean that it can't be done. You

will soon learn that what we do is a niche, like Marko talks about, and not all attorneys and all

closing title companies, escrow companies are going to want to do it this way.

There are some out there that will do it, and that's what you have to do. You just have to go

through the numbers. You just have to look for the ones that are investor friendly and that are open

to creativity, and they'll close on those deals. They are out there. You just have to look for them.

Marko: Absolutely. Absolutely. It is the mindset. The people who succeed are people who don't get

discouraged when they hear the first no. Find a way to do it. That is all what it is. Some will. I

mean I got title companies saying, "Oh, we can't close subject two on FHA loan." Then across the

street another one who is closing without problem and I closed a bunch of houses with them. It is

all comes down to all of that. Oh, no, it's specific to our state.

Then here's also, many times they will say they cannot do subject two, but they'll do the wrap. The

wrap is the same thing, right. If they don't want to do subject two ask them to do a wrap. Yeah,

absolutely can do that.

Recording: For an extended version of tonight's recording please log on to your membership account at

mentorremarko.com.

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