Extreme Foreclosure

I ran across this story this morning about how a family that was part of Extreme Home Makeover is now facing foreclosure. However, I get so sick and tire of people claiming to be the victim of the ‘foreclosure crisis’. This isn’t a victim of the current foreclosure crisis, this is a victim of ‘Exteme Ignorance’.

According to the paper, this couple used the home as collateral to borrow $450,000 for a construction business that failed. This doesn’t even take into consideration that over $250K was also donated to the family and their 3 kids for scholarships.

In most cases, regardless how much you help a homeowner out, how much you risk to bail their ass out of a sling - they’ll end up in the same position within time.

Here’s the story if you’re interested:

http://news.yahoo.com/s/ap/20080728/ap_en_tv/tv_extreme_makeover_foreclosure

The Easy, No Risk Way To Invest In Real Estate, Plus The Story Of The $2000 Dinner

A lot of people assume in order to make money investing in real estate, you need credit, cash, a license, and years of experience. However, in this video for Free Question Friday, I’m going to show you there’s a no risk, easy approach, plus I’m going to reveal…

The Story of The $2,000 Dinner!

Best of all- there’s nothing for sale in this video - 100% content!

Now, there really was a $2,000 Dinner as well as an easy approach to invest in real estate - you’ll see it all in this video. Once you finish the video, the form for you to use is downloadable below the video (Just right click and choose Save As to save to your computer).

I’d love to hear your comments on the video, so post them below once the video is complete and share by clicking the ‘Share This Button’ below the video.

Download The Option Agreement by Right Clicking Here

Becoming Immune

Today has been very interesting.

First, I fired a girl and I’ve noticed that I’ve become completely immune to the process.

Call it cold, but it’s part of life and when you do business sometimes you’ve gotta swallow that huge lump in your throat and just do it.

I believe it was the movie Point Break where Swayze’s character Bohdi says “Fear causes hesitation, and hesitation will cause your worst fears to come true.”

And so, once you take that action, whatever it is you fear, the more comfortable you become at the act.

In my case this morning - firing an employee.

Next, I’m at another one of my businesses and one of my employees comes in and says “Derek, tell me how to make $10,673 in 30 days or less…”

Read more

You Wanna Take A Ride With Me?

I’m not April fooling you either.

Recently, I slapped a camera up in my truck while we stroll through my hometown taking a look at a couple of the deals I’ve put together.

I’m sorta telling on myself in this video.

Let me know what you think by commenting below the video.

- Derek

Do you remember your first time?

No. I’m not talking about anything personal- so get your head outta the gutter will ya?

I’m referring to your first deal.

Were you excited?

Scared to death?

Nauseous?

How did the deal go?

It’s good to reflect back. So here’s a pic of my first deal:

This junker appraised for $37K back in September of 2000. I bought the property for $23,500.

Read more

Project Lifeline - another waste of time?

Today, President Bush is expected to announce ‘Project Lifeline’- a new program designed to help homeowners that are behind 90 days or more with their current mortgage to aid in stopping foreclosure.

Six banks have agreed to take part- Bank of America Corp., Citigroup Inc., Countrywide Financial Corp., JPMorgan Chase & Co., Washington Mutual Inc. and Wells Fargo & Co.

From what I’ve gathered it will suspend foreclosure for 30 days to allow the homeowner and lender to come up with new loan terms. While this may help a very small percentage, I don’t believe this is the magic bullet that congress and lenders are looking for. I’m curious to what the expectations are with the program. It will be interesting to see how this plays out.

What do you think? Do you think this proposal is another waste of time or a step in the right direction?

Blame the Coach

Tomorrow, I’ll head to T-town (Tuscaloosa) to watch the Alabama Crimson Tide play Auburn in a little b-ball action.

For those of you that don’t know- I’m a huge college basketball fan and love the Tide. However, this year has been a little rocky for the Tide with not a single win in the SEC.

I believe it’s only gonna get worse, but most folks in Alabama are only concerned about having an awesome football program (which is why the football coach is paid $4 million a year) and as long as the basketball program has a fair year then it’s ok.

Well, I differ since basketball is my passion. And I know we have better talent than what we’re showing on the basketball court.

Who’s to blame when you have talent yet still show up losing game after game?

The coach? Players? Or The Fans?

In this case, Coach Mark Gottfried is to blame. Read more

Wachovia Takes a Hit

Wachovia seems to be the latest bank to be effected with the credit crunch.

Take a look at the article here:

http://biz.yahoo.com/ap/071109/wachovia_writedowns.html

Also, be sure to check out Preforeclosure Mastery, as the site goes live this Tuesday.

Take care
-DP

Homeowners Are Like Hookers

I know I’ll catch some heat from this but no one has ever had the guts to say it. Forgive me for the bluntness of this post, but I assure you that there’s an important point to the story, so listen up.

Never pay the hooker any money until she’s completely finished with her services or she’ll bail on you leaving you drawers down and empty handed all while she spends every last nickel.

Here’s how this relates to real estate…

In many cases, especially when dealing with homeowners in preforeclosure, you’ll be forced to give them time and money to move. For example, the latest deal I did, I told them up front that I would give them time to move plus some money to move with.

Well, when I closed on the deal, the homeowners were looking for all of the money right then.

Not so fast…

Whenever giving homeowners money, always make sure they’ve completed their end of the bargain. For example, if you promise them money, consider giving them a percentage now and the rest when they’ve moved out and left the home in a broom clean condition. (this also helps to keep them from destroying the house)

Or else they’ll pocket your money, refuse to leave, and trash your house.

For example, let’s say I promise a seller $2K and two weeks to move if they deed the house over to me. I’d give them $1K now and the rest when they’ve completely moved out.

Now- do you see why I say that many…

Homeowners Are Like Hookers!

See, when many homeowners are facing foreclosure – it’s like a pressure cooker. When they’re facing the foreclosure situation, their boiling point is steadily increasing as the foreclosure date reaches near, adding more and more pressure. As a result, they’ll make promise after promise to get some relief from this pressure. And when you step in and stop the sale, the pressure is gone- and many times once this pressure is gone, they’re quick to forget how it felt in the pressure cooker.

Now, you should be strategic about every move and have a reason for what you’re doing, protecting your investment dollars. Bait them with the carrot and only when they’ve completely honored their end of the bargain, then release all of the funds you promise to them.

Most importantly - be ethical about it and be sure to fulfill ALL of your promises.

That’s it for now,

Derek Pierce

By the way, I just finished an open letter about my business, exposing the truth about making money with preforeclosures, and what happened 6 years ago that flipped my world upside down. Read it now by clicking below:

http://www.preforeclosuremastery.com

It’s A Big Deal

Hey guys

My birthday is this weekend - I turn the Big 31!

You can’t believe it - can you…

Go ahead - and say it - you believe I’m 25.

Well, even though I don’t think it’s that big of a deal - my wife does. She’s planned this secret getaway where all we’ll do is ….

ugghhhh.. ummmm

I really don’t know - after all it is a secret getaway.

Anyway, I prepared another video revealing more of my real estate investing secrets. Have a look:

Till next week,

Derek

PS - Feel free to send all the gifts, money, strippers, and drugs to the address on the contact page of my website. Just kidding about the drugs…

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