Demystify the pre-foreclosure process with industry insiders! Join Rick Hamrick, William Bonell, and Matthew Merenoff at the REI Event Unveiled and uncover the truth behind pre-foreclosure myths. These seasoned experts from IPA for REI and Real Estate Recovery Group are here to provide solutions for distressed property owners and share their combined 65+ years of experience. If you're a real estate professional looking to thrive in any economy, this is the event for you.
Discover strategies for:
- Navigating pre-foreclosure and forced sale situations
- Creative financing and wholesaling
- Building a resilient real estate investment portfolio
Here's what you'll gain:
- Real-life experience and case studies
- Networking opportunities with top industry professionals
- Actionable insights on growing your business in 2024 and beyond
🔑 Connect with Rick, William, and Matthew! Meet the minds behind preforeprofits.com and learn how to turn challenges into opportunities in the real estate market.
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Topics & Bullets:
Pre-foreclosure Event Planning
- Providing attendees with a physical book containing sponsor information, speakers' details, note-taking sections, and key event highlights
- Collaboration on a pre-foreclosure event in Clearwater, Florida with a focus on helping real estate professionals grow their businesses
- Emphasizing the importance of mindset and providing actionable material to ensure attendees take active steps after the event
Understanding Distressed Situations
- Challenges the assumption of predatory behavior, highlighting the elderly, broken families, and veterans as the primary groups seeking help
- Emphasizing the need to understand distressed situations, particularly with preforeclosures
Action-based Approach in Coaching
- Emphasizing the importance of learning, taking action, and reflecting
- Addressing the scalability of the real estate business through networking and training, creating a network of individuals capable of meeting with sellers across various locations
Importance of Nurturing Relationships and Networking
- Discussing the importance of consistently nurturing and maintaining established relationships within the network
- Advocating for a personalized, empathetic, and human-centered marketing approach, using various communication methods such as voice mails, texts, and postcards to elicit responses from distressed sellers
Obtaining Pre-Foreclosure Lists
- Discussing the challenges of obtaining pre-foreclosure lists due to varying regulations across different states and regions
- Exploring the process of obtaining pre-foreclosure lists and the importance of being physically present in the market
Addressing Market Challenges
- Insurance crisis: Homeowners and investors struggling to insure properties and facing a minimum 30% increase in insurance costs over the past two years
- Property taxes have also increased by 30-40% nationwide, leading to larger PITI payments
- Homeowners who took forbearance during COVID might face significant interest rate increases and loan modifications, potentially impacting their equity and credit
- The impact of COVID-19 on property equity, particularly in commercial real estate
Real Estate Industry Changes and Challenges
- Highlighting the improved systems and processes of banks and servicers
- Discussing the challenges and changes in the real estate industry, including the impact of preforeclosures on various property types
- Discussing the drastic changes in the industry and the impact of COVID-19 on property equity
Rapid Fire Questions
- Real estate investor lies, recommended books, and advice for younger selves
- The importance of consistency in business and meeting with students and partners twice a week
- The need for education and understanding in the real estate investing world and the goal of building a network of pre-foreclosure solution providers
- Concerns about uneducated wholesalers making false promises and emphasizing the importance of education in the real estate industry
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