Jun

30

Gerald Romine Is Back - Get Ready For Some Real Estate Investing

Filed Under Real Estate Investing | 3 Comments

Three weeks ago to the day my house was robbed in the middle of the day and I had to clean up the mess, deal with the insurance paperwork nightmare, and then deal with identity theft. I would have told you sooner but since I was going on vacation I didn’t mention anything because I did not want to advertise that my house was going to be vacant for a week. But I’m back and ready to rock and roll!

The Vacation:

I just came back from the vacation of a lifetime! My Mother, brother, son, girlfriend and I spent 4 nights and 5 days in Havasupai which is the scenic part of the Grand Canyon. We hiked over 40 miles in 6 days and my son, Adrio, was phenomenal because at 6 years old he was able to kick butt on the hikes, have a great time, and enjoy a once in a lifetime experience. I’ll share stories and pictures in the coming weeks.

For now I just wanted to let you know I’m back and there is so much happening in real estate and for real estate investors that I can’t wait to get you caught up with the market and tell you how to create massive profits from the opportunities being presented daily.

More to come…

Gerald Romine

FYI: But first I have to tackle getting a nasty virus off my main computer. I’m pretty tech savy but none of the normal software and tricks can shake this one. If you would like me to post some great freeware programs for AntiVirus and Anti Adware let me know by commenting in my blog.

Mooney Falls in the Grand Canyon at Havasupai - by Gerald Romine
- Mooney Falls in the Grand Canyon by Gerald Romine

Mooney Falls in the Grand Canyon at Havasupai - Gerald Romine and Son Showing The Big Guns
Mooney Falls on the Havasu River -
Gerald Romine and Son Having Fun Showing The Big Guns

Beaver Falls In The Grand Canyon - By Gerald Romine
Beaver Falls on the Havasu River - By Gerald Romine

Jun

18

Gerald Romine Get’s Political

Filed Under Real Estate Investing | 4 Comments

What began as a joke has now taken hold and is now a nationwide epidemic.

Vote Gerald Romine For President. (click the video to watch)

Jun

17

FHA Suspends Flipping Rule? Not Quite!

Filed Under Real Estate Investing, foreclosure | 2 Comments

When I first heard the news that the FHA waived the 90 day seasoning rule I thought it was cause for celebration because right now approximately 90% of the buyer loans are reported to be FHA loans. Dropping the 90 day seasoning requirement would be huge for flippers and the market in general.

Say it Ain’t So Joe!

The government who thinks they know more than anybody else put the 90 day seasoning requirement in place for FHA Loans because they thought this would deter flipping schemes. Chalk this up as another government screw up.

Seasoning had nothing to do with “flipping” schemes because the value of a property is determined by the property and not the time it has been owned. If an investor buys a 100K property for 50K and wants to sell it the next day for 100K what’s the problem. Definitely not the seasoning or time the property was owned.

The real problem has been fraudulent appraisals. After all, it is the appraiser setting the value for the new loan. The problem is obvious to anyone of intelligence… which by default rules out the government.

Check The New Waiver From HUD For Yourself

FHA Waiver From Gerald Romine.com

Who Really Benefits?

The lenders. Big surprise right? The bottom line is the lenders are now able to sell their REO’s that were acquired by foreclosure to FHA buyers without having any seasoning requirements. Which brings us back to the government screwing things up again. Funny how the lenders can quick turn a property but you and I cannot buy and sell a property with an FHA loan unless it is seasoned for 90 days.

What About Investors?

No change. You still can’t buy and sell a property to an FHA Buyer unless you meet the seasoning requirements.

Author: Gerald Romine

Jun

9

New Real Estate Trends Provide Tremendous Opportunity

Filed Under Real Estate Investing | 4 Comments

It was the best of times, it was the worst of times.

Opportunities abound and if you watch and believe the news you should go out and buy your cemetery plot and check in early.

Statistically the hardest hit areas are California, Florida, Nevada and Arizona where prices shot up during the housing boom and are now returning to reality. In these markets foreclosures, REOs, vacant new homes and other distressed properties lead the charge for great deals and falling values. Living in Arizona I know the reality of the markets very well!

A relatively new trend for REO properties offers huge opportunities for investors and homeowners; Many banks are setting the property prices extremely low to generate interest and create a multiple offer bidding wars. Houses that sold for $350,000 two and three years ago are going to market for $175,000.

“It’s not uncommon to have 10 to 20 offers on one house, and for the house to end up selling for more than its market price,” said Erin Attardi, a Sacramento Realtor. The strategy, she said, allows the bank to be selective, picking buyers with solid financing or those able to pay in cash.

Same goes for short sales. Many lenders are encouraging extremely low listing prices and in some areas buyers are getting frustrated because the low price attracts multiple buyers and a bidding war. Imagine wanting to buy a house in today’s market and being beat out by a higher offer in a bidding war. It’s happening every day!

For those who follow my writings you know I’ve long said we do not have a housing slump, the problem has been artificially created by making it very difficult for buyers to get loans. Once the financing is made available to the masses the markets will “bounce back” very quickly.

Note: Imagine being the new President and taking over the presidency then putting a program in place that returns financing to the masses where 95-100% loans were easy to obtain. The housing market would recover overnight and the President would be the hero for saving the economy. The housing market leads the American economy and when money is pumped into houses everyone benefits financially.

If you want to buy bargain properties the time is now! In a report by Fitch Ratings last month they stated lenders lose an average of 56% of a property’s value through auctions and 40% for ordinary sales. Huge losses for the lenders represent tremendous gains for real estate investors.

What You Should Do Right Now!

Take action. Find a realtor or resource so you can pull up the lowest cost 3 bedroom 2 bath homes in your area with over $1,000 square feet. Determine the market rent (easy for most realtors). Now compare the PITI payment of a 30 year fixed loan to the market rent. This will tell you two very important facts about the market and what you should do.

Can you tell name the two important facts? Why is this important? COMMENT BELOW.

Author: Gerald Romine

Jun

5

Warning: Real Estate Investors Should Ignore The Media Blitz Of Bad News

Filed Under Real Estate Investing, foreclosure | Leave a Comment

Gerald Romine Making Money In Real EstateIf you are already actively buying and selling houses in the current market consider this message an update of what you are already experiencing in the market.

If you are NOT currently an active real estate investor you will find this message helpful to move you from thinking about taking action to improve your income and life…to actually taking action to do so.

**********************************************

First, I want to start off with a WARNING:

This is a warning that you could easily be locked out of possibly the biggest real estate buying opportunity ever due to sheer ignorance. The truth hurts and before you discredit those harsh words realize I am not trying to sell you anything.

Have the markets changed? Definitely.

Is it harder to get financing on properties? Absolutely.

Are investors making money? Yes… and lots of it. Are you???

Between my involvement in the market and the feedback I get from successful investors using the Ultimate Real Estate Investing System I have an understanding of what’s really happening in the markets like no other.

Now, I want to tell you about what’s really working in the real estate markets.

1) Short Sales: With record foreclosures and REO properties backing up the lenders are seeing the need to play ball and move short sales whenever possible. Make no mistake that short sales are a REAL opportunity and unbelievable deals are being done. Understand that some lenders are easy to work with and other lenders are nearly impossible. UREI users have a distinct advantage because it takes less than 5 minutes to prepare complete short sale packages and if you are in the short sale game be sure to have an efficient system.

Note: UREI users are even getting short sales accepted on properties that are current on the payments.

2) Subject To: A VERY successful strategy in today’s market is to find a price range of a properties that will cash flow as rental property then go after that range with offers to take over the existing financing.

Example: A 3/2 in Phoenix may rent for $1000 per month. Searching the MLS I found 67 homes in the city of Phoenix that are 3 bedrooms and 2 baths and have 1000 square feet or more with a price that is under $90,000. The lowest priced property is $37,500! The second home is $45,500 and is an REO offering a $1000 bonus to the buyer’s agent.

Let’s look at the possible numbers for a house with a $90,000 loan. If the loan was a 30 year fixed at 6.5% the monthly principle and interest payment would be $569. Add another $200 for taxes and insurance and the PITI would be $769. If the property rents for $1000 per month the cash flow after reasonable expenses would be positive and let’s assume $100 per month. Not bad for a nothing down deal and taking over the payments.

Huge opportunities abound and subject to’s do not require you to get new loans or qualify for financing.

3) REOs: I can’t say enough about the opportunities to buy REO properties. Banks are leading the pack with price reductions and the opportunities to make once in a lifetime deals are everywhere.

WHY IS THIS SO IMPORTANT?

For many, for a growing number of would be real estate investors, the news about a bad economy is keeping them out of the market and stopping them from what may prove to be the biggest opportunity and fastest way to wealth ever presented through real estate!

The three types of investing outlined above can be the solution to negative developments and news in the real estate industry that we are constantly bombarded with by American TV and media.

It can permit profitable focus on small niches or sub-niches of the real estate market.

I’ve put hundreds of real estate investors on this fast track, one way or another, and I’m on top of the markets daily and aware of the latest developments.

You may think real estate success is beyond you in the current market but you may change your mind if you learn to focus on what’s really working and ignore all of the media noise. And if you have any thoughts of actually building a thriving real estate investing business that can secure your financial future now is the time to tune in and get involved.

Author: Gerald Romine

Note: Your comments are encouraged.

Jun

2

Real Estate Investors Must Be Accountable For Their Success

Filed Under Real Estate Investing | 9 Comments

Gerald Romine Washington DC Capitol BuildingI just came back from a Mastermind Meeting in Washington DC and my head is still spinning. It’s a small close knit group with people coming from as far as Great Britain and businesses varying from buying and selling domain names to real estate investing.

It’s a great opportunity to see other businesses and have exposure to viewpoints outside of what we normally see. I’ll be sharing some great insights and techniques we can use in our real estate investing business in the coming weeks.

While in DC I was roped into entering a fitness transformation contest that one of the mastermind attendees in the physical fitness industry is running. I keep myself in pretty good shape and I’ve never entered any type of a contest like this so now the pressure is on. I had to take the shirt off and get some before photos and at the end of the contest I’ll be showing the before and after results.

FYI: I just turned 38 this weekend keep myself in pretty good shape - I work out several times a week andI focus on free weights but neglect cardio workouts.

Measurable goals motivate me and in my health and fitness I’m constantly bulking up for a cycle then leaning out and my weight varies from 190 lbs to 210 lbs. I’m currently in the middle of a bulking cycle and weigh 206.5… but with the bulk comes extra fat!

This contest is really going to push me because once I finish the bulk cycle I have to lean out fast to be in shape for the contest photos at 12 weeks. Now that I’m in the contest and have shared my goal publically the pressure is on!

On big benefit of a contest and public announcement is the pressure it puts on a person to succeed. As a real estate investor you should look to surround yourself with like minded investors and challenge yourself amongst friends that could include side wagers.

I have a few friends that are part of a private real estate mastermind group that meets every 3-4 months and their last challenge between themselves was to purchase 3 million dollars worth of real estate before the next meeting.

Buying three million dollars worth of real estate in the next three months may sound like an unreachable goal for many and it should be known all of these guys are quite capable of reaching the goal but it will require work to find the right properties to purchase.

For many a more realistic goal would be to buy X number of houses in the next three months or to make $25,000(or 50K or 100K) in the next three months. There is power in writing down your goals and going public with the goal because it creates accountability.

Right now would be the right time to post your goal! Is now or now the right time for you to post that goal?

Author: Gerald Romine