Gerald Romine's HUGE Announcement

Gerald Romine's HUGE Announcement

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Hey Friend,

What time is it right now? Write it down as this may be the defining moment in your life.

I am as serious as a heart attack. What I am about to say could change your life:

“Only 14 People Will Spend 3 Days With Me For My ‘Step-By-Step’ Real Estate Wealth Explosion and Asset Protection PRIVATE Seminar.”

You’ve never heard of anything like this because there has never been anything like this available. Only 14 people will be accepted because this is a private seminar about implementation and it can not be done in large scale to the masses.

Imagine the power of being shown my extreme income secrets like earning 42% fixed on your money! How about walking away from this event with complete asset protection in place? I’m talking about having all your asset protection and estate planning entities set up so you are protected like the Kennedy’s and Rockefeller’s. That’s right, you’ll actually leave with the your asset protection and estate planning entities in your hands PLUS the knowledge and understanding on how to use them… in other words complete and total asset protection!

Warning: Only 14 people will be permitted to attend this private seminar on extreme income explosion and asset protection.

To see all the details on what will be covered and how you can apply check out – www.nobsassetprotection.com.

Now go buy a house,

Gerald Romine

PS – This private ‘Step-By-Step’ Real Estate Wealth Explosion and Asset Protection PRIVATE Seminar is limited to just 14 attendees. It will be private. It will be intense. You will be blown away by the experience. I guarantee it. Applications are time stamped and hesitating even 5 minutes could cost you this phenomenal opportunity. Take action now - www.nobsassetprotection.com.

Now Go Buy A House!

Gerald Romine

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NOTE: This is a post-only mailing. Replies to this message are not monitored or answered.

Gerald Romine's Politically Incorrect News

Gerald Romine's Politically Incorrect News

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Hey Gerald,

"Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate." - Andrew Carnegie

The timing could not be better for the wise young man or wage earner to buy real estate.

• Markets are soft
• We are in a buyer's market
• Taking over payments without bank qualifying is easy to find

The time to buy real estate is now!

If you have no money: Look for deals that cash flow and offer to take over the payments or buy with owner terms. The fact is homeowners are drowning in a sea of debt and many are going to lose houses but not because anything is wrong with the house. Most are losing houses because of their failure to manage money. Huge difference. The key here is cash flow.

If you have money: It's like having a license to steal. The challenge is finding owners/situations where a cash offer can be accepted (normally the owner needs to owe less than your offer). Other advantages of having money include the ability to purchase with owner terms and pay a reasonable down payment. The key here is still cash flow.

If you have credit: Then you have money. Your best use of your credit may be to refinance existing properties to improve your cash flow. With so many home available subject to why incur the fees, costs, and liabilities of qualifying for loans when you can do a little shopping and take over loans subject to. The key is still cash flow.

If you do nothing else this week take a hard look at your market and the deals available. Spend just 2-4 hours looking at prices. You'll be shocked at what is happening in your backyard and the deals available.

Now Go Buy A House!

Gerald Romine

PS - If you need help analyzing deals then you need this system to not only analyze your deals but it will prepare your offers and all of the paperwork in less than five minutes!

NOTE: This is a post-only mailing. Replies to this message are not monitored or answered.

Gerald Romine's Politically Incorrect News

Hey Friend,


I’m about to make A LOT of people in the real estate business very mad. With record foreclosures short sales have been a hot topic and it seems every real estate guru or so called expert is trying to cash in with their own short sale course, seminar or boot camp.

The guru’s will hate me. You will love me. Soon I’ll be announcing a webinar where I am going to share with you everything you need to do short sales as either and investor or homeowner and it will be absolutely free. Not only that I am going to share with you a website that costs nothing and makes short sale boot camps, courses, and seminars a thing of the past.

Be on the lookout for the webinar announcement. If you are thinking of signing up for an event or course don't!

Now go buy a house.


Gerald Romine
PS – This webinar and website will rock guru's worlds because everything they have been charging $1000.s for will be available to you for free. Literally everything covered in depth from how to do a short sale, deficiency judgments, tax consequences, dealing with mitigators, what to say, when to get nasty with mitigators and so much more!

Gerald Romine's Politically Incorrect News

A real estate agent is NOT needed for a short sale. The sad truth is most real estate agents will unknowingly hurt you in a short sale because they do not know or understand the short sale process.

There are exceptions to the rule and they are few and far between. If you find a Realtor that is successfully doing short sales with deep discounts(30-50%) they could be worth their weight in gold. I have nothing against Realtors but if they don't earn their commission they don't need to be involved.

The lender not only wants a Realtor involved but they want to see the property has been listed on the open market. Why? Lenders reason a listed property on the open market will fetch a higher price then a doing a short sale on an unlisted property with an investor. Before agreeing to a short sale they want to see what the open market brings. Why wouldn't they since they are on the seller's time and nickel.

The lender may be right... unfortunately it is not their decision to make. This is why you get the property under contract, control the deed, then politely inform the lender they have two choices: 1) work with you on a short sale or 2) take their chances with the foreclosure. The lenders do not want option 2 but they will act as if you have no choice. The lender will often bluff until the foreclosure date is quickly approaching.

Because the lenders are used to working with Realtors you can use this to your advantage two ways. 1) When making your short sale offer be sure to point out there is no Realtor involved and their net is increased by the 5% commission they are typically paying Realtors. You must do the math for them. 2) Since the lender is expecting to pay a Realtor 5% you can find a Straw Person Realtor to follow your instructions and make 5%. The financial arrangement you make with the Realtor is up to you... but keep it legal. This means you don't get the 5%. In return the Realtor may list your properties for a deep discount, provide unlimited market research, etc. You'll figure this out on your own.

Other News:

On February 29 - March 2, 2008 I'll be conducting my private seminar for 14 people on income explosion and extreme asset protection where those 14 people will leave with everything set up and in hand and the knowledge of how to use everything they learn. I guarantee this event will be unlike anything ever presented because the event is for the 14 people in attendance and built around their needs.

Now go buy a house,

Gerald Romine

PS – This private ‘Step-By-Step’ Real Estate Wealth Explosion and Asset Protection PRIVATE Seminar is limited to just 14 attendees. It will be private. It will be intense. You will be blown away by the experience. I guarantee it. Applications are time stamped and hesitating even 5 minutes could cost you this phenomenal opportunity. Take action now - www.nobsassetprotection.com.

Don't Put All Your Eggs in One Basket

We have all heard the expression but what does it really mean when we are talking about asset protection?

Smart business people place their “eggs” into separate “baskets” by diversifying their investments, separating portfolios, carrying the right insurance, and even making sure proper records are backed up remotely. Ships are built in the same manner; sectioning of the hull into multiple compartments so that if one section is breached it can be sealed off so the ship remains afloat.

While the principle of diversification is universally embraced in business and investing it is shocking how many people unknowingly violate this principle and leave all of their assets vulnerable to being lost with one lawsuit. Most people can have their assets traced via on simple accessible piece of data, their social security number. By failing to diversify the ownership, everything is at risk if they ever suffer a legal attack. If you set yourself up correctly, even if assets are found they can be protected legally if they are owned correctly.

This leads us to an important principle of asset protection - compartmentalization. By having various assets owned or held by different entities that are separate from you, you dramatically reduce your risk of loss in the event of a legal attack. If one asset or entity runs into trouble, i.e. a tenant in your rental property slips and falls and sues, only the assets in that particular entity are at risk. They cannot lay claim to your other assets or entities.

A WRONG and POPULAR general rule of thumb is to limit the amount of assets in any one entity to 20% of your net worth or up to $250,000. In the asset protection world this is “common knowledge.” Unfortunately it is some of the worst advice real estate investors can get! We’ll explain to you in detail why this is dangerous advice at my private event in February!

On February 29 - March 2, 2008 I'll be conducting my private seminar for 14 people on income explosion and extreme asset protection where those 14 people will leave with everything set up and in hand and the knowledge of how to use everything they learn. I guarantee this event will be unlike anything ever presented because the event is for the 14 people in attendance and built around their needs.

Now go buy a house,

Gerald Romine

PS – This private ‘Step-By-Step’ Real Estate Wealth Explosion and Asset Protection PRIVATE Seminar is limited to just 14 attendees. It will be private. It will be intense. You will be blown away by the experience. I guarantee it. Applications are time stamped and hesitating even 5 minutes could cost you this phenomenal opportunity. Take action now - www.nobsassetprotection.com.

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If you are considering protecting your assets, now is the time to complete your due-diligence and get yourself protected. By taking action now you maximize the effectiveness of your efforts and may even prevent lawsuits from occurring in the first place.

Looking for Deep Pockets

Let's say you are there is a four-car accident on the highway and you are partly responsible for causing the accident as well as two of the other drivers. One passenger in one of the cars is badly injured and sues all three of you. The court awards a $1.2 million injury judgment in favor of the passenger and assigns 1/3 of the fault to each driver.

The other two drivers carry bodily injury liability insurance with a limit of $25,000 per person and they have no assets. You carry a limit of $250,000 per person in bodily injury liability insurance and you own real estate and other valuable assets worth about $1 million.

With a little math, you figure your liability will be $400,000 since you are 1/3 at fault. The insurance company will pay the $250,000 and you'll have to come up with the remaining $150,000 to payoff the judgment. It's a lot of money no doubt but with your net worth you will survive. Your out-of-pocket expense might be just $150,000 if the suit is filed in most states but not if it's filed in say, Kansas, Massachusetts, Tennessee, or ten other states.

If you happen to be sued in one of these states, you will have to pay the entire balance since the other at-fault drivers do not have assets. It’s wrong but it is the law.

Now the three insurance companies will pay a total of $300,000. So you will be on the hook for the remaining $900,000! The reason for this wrong-justice is the common law rule called Joint and Several Liability.

JOINT AND SEVERAL LIABILITY

The theory of Joint and Several Liability allows that each defendant in a legal action is responsible for the entire amount of damages that a plaintiff is entitled, regardless of their relative degree of responsibility for the damages involved. This has come to be known as the "deep pocket rule" because it has had the effect of turning lawsuits into all out searches to find the most financially lucrative defendants. The search for deep pocket defendants has created a "lottery" atmosphere within the legal system in this country.

So if you are sued in the wrong state and you have a deep pocket, you will be the one the hungry lawyers are looking to pin some degree of fault so that they can collect the entire judgment from you.

To protect yourself from joint and several liability, you must not appear to have a deep pocket. The only way to do that is to get assets out of your name. I'm sure you've heard of the quote from John D. Rockefeller. He said: "Own nothing and control everything." There is no better application for this philosophy than to protect yourself against the risk of joint and several liability.

On February 29 - March 2, 2008 I'll be conducting my private seminar for 14 people on income explosion and extreme asset protection where those 14 people will leave with everything set up and in hand and the knowledge of how to use everything they learn. I guarantee this event will be unlike anything ever presented because the event is for the 14 people in attendance and built around their needs.

Now go buy a house,

Gerald Romine

PS – This private ‘Step-By-Step’ Real Estate Wealth Explosion and Asset Protection PRIVATE Seminar is limited to just 14 attendees. It will be private. It will be intense. You will be blown away by the experience. I guarantee it. Applications are time stamped and hesitating even 5 minutes could cost you this phenomenal opportunity. Take action now - www.nobsassetprotection.com.

The Idiot Theory - Foreclosure Laws Changing

The Idiot Theory - Idiots that make the laws will enact new bills and legislation but rarely do they fix the problems they attempt to solve.

You have to love how politicians predictably pander to the ‘crisis’ at hand. They are like a ‘2 Bit Whore’ jumping on any bandwagon that might get them votes so they can stay in office with their fat paydays for no work.

The mortgage crisis is their latest pet project. New bills are being drafted to protect tenants from foreclosure.

The problem: Landlords are collecting rent up until the foreclosure. The tenant is often unaware or being lied to by the landlord or property management. Foreclosure happens and the Sheriff comes by to throw them out. There is an easy solution for the tenants but the idiots will not figure it out.

Solution: Change the laws to require a landlord give a '30 day notice due to foreclosure' to the tenant. It’s simple and the same notice to move tenants receive in most instances anyway.

But that’s not what the legislatures are doing. They are creating new legislation that may require foreclosing lender to give the tenant up to 6 months to find a new place to rent. Absolutely insane!

I know that no matter how grim things look with new laws and legislation there is always a gold lining filled with opportunity for people if they take the time to look.

This one is just too easy. If this bill or any like it go into effect mandating the tenant has time to stay in the property after a foreclosure to find a new abode it will be a huge for investors. Legislation like this will force the foreclosing party (the lender) into becoming landlords.

This creates massive problems for lenders because it forces them into property management. Who is going to collect rents? Who is going to do the repairs? What about the security deposit? How do they get a copy of the existing lease? How does this affect their yields? How does this affect their REO and lending ratios?

The lenders will have to contract property managers which does not sound too hard until you think about how many properties and take into consideration the varying locations of those properties.

Let’s say the lender has one property in Timbuck Two. The lender has to invest the man hours to find and contract a property manager. Multiply this time 500, 1000, or 10,000 properties and you have a logistics nightmare.

To make matters worse the lenders will incur increased losses. Assume a property had a payment of $3000 per month from the owner and most of this was interest/profit payable to the lender. Assume the rent on the property is $1000 monthly. (These numbers are realistic in many parts of the country) The lender is losing $2,000 monthly or over 6 months $12,000.

Now a few of you are saying, “But Gerald, the lender is not losing $2,000 monthly because they now own the house free and clear since there is no loan. The lender is actually making $1,000 per month.”

A fair argument. However, if the lender has the ability to loan out their money and get $3,000 per month and are now forced to get $1,000 per month on the same money they are literally earning $2,000 less per month. They may not have a $2,000 loss per month but they have a $2,000 reduction in gross income per month giving them the same net effect.

Assume the lender has 1000 properties; that’s a $2,000,000 monthly problem before you even get into property management expenses.

HUGE OPPORTUNITY

If legislation forces lenders to become landlords it will do two things. 1) Increase lenders desire to avoid foreclosures which translates to more short sales at bigger discounts and 2) Increase discounts on REO Properties.

The discounts must be given because the new investor has to deal with tenants and could be forced into holding the property 6 months before they can pursue their plans for the property.

The opportunities in foreclosures are unprecedented. If you are not in short sales either you are making too much money doing other things or you have no legitimate excuse. With my short sale system you crank out short sales packages in 5 minutes then let the packages and follow up faxes do the work for you. It doesn't get any easier.

I’ll also be covering short sale secrets February 29-March 2 at my 14 Person Private Seminar on Wealth Explosion and Asset Protection. Only 14 people will be accepted and you will leave with all of your asset protection and estate planning entities in your hands AND with an understanding on how to use them! The wealth explosion will blow you away with how to get 42% guaranteed returns and so much more. This will be an intimate and intense private seminar unlike anything you’ve ever experienced. Three full days with me and one of the best asset protection attorneys in the country.

Now Go Buy A House!

Gerald Romine

PS – The private seminar on wealth explosion and asset protection is something you should seriously consider. With only 14 people we're going to cover things in depth in a way that can't be done at a 100 person boot camp. If you paid a competent attorney to just create the entities it would cost you over $25,000! We're not giving you forms, we're creating the entities you need and teaching you what to do and how to do it because only when you understand what your doing and why do you have asset protection. It's a huge difference.

The Weird World Of Short Sales

If you are in the short sale game right now then you understand that lenders are playing hardball and it seems to be a nationwide challenge.

I recently took a 300K first down to 200K. Things were looking good! Then I had to deal with GMAC on the second. Shouldn’t be a problem, right?

Boy was I surprised when GMAC was not willing to do anything. After a long healthy conversation with the Loss Mitigation Supervisor I learned that GMAC will only accept a short sale that comes in at 95% of the market value.

Okay – you can stop laughing because this is not a joke. The supervisor AGREED with me that something today beats nothing at the foreclosure. He KNEW their policy was insane but his hands were tied.

What are my choices?

1) I could buy the note and finish the foreclosure. Tried that but the 1^st wasn’t willing even though they get the same net.

2) I can continue to negotiate hoping GMAC’s policies will change – they may.

3) I can hope GMAC sells the loan to another lender then start over.

The reality is this deal is likely dead and I know it. Luckily I have honest direct relationships with my sellers so I informed them and they want me to continue. Time will tell if I get it through.

Tip For The Day: Short sales are a numbers game – do not get emotionally involved. Some will work, some won’t. Just make sure you can quickly prepare short sale packages. REPP does the job.

Now go buy a house!

Gerald Romine

PS – Things are changing at www.kickassrealestate.com. Check it out.

Land Trust Article

Lately I’ve been getting a lot of questions about land trusts and it seems there is a lot of confusion. So today I thought I would cover the subject in detail.

Land trust

A land trust is an agreement whereby one party (the trustee) agrees to hold ownership of a piece of real property for the benefit of another party (the beneficiary). Land trusts are used by nonprofit organizations to hold conservation easements, by corporations and investment groups to compile large tracts of land, and by individuals to keep their real estate ownership private, avoid probate and provide several other benefits.

A community or conservation land trust is an organization established to hold land and to administer use of the land according to the charter of the organization. A land trust is a useful way to manage complex divisions of the Bundle of Rights that people can own in real estate, and can be used to manage something as large and complex as a multi-state REIT, or as common and small as a single-family home.

Corporations sometimes set up land trusts when they want to compile large tracts of land without arousing suspicion or alerting people to their plans (which would cause the asking price to rise). For example, the land for Disney World near Orlando Florida was put together by using many land trusts to buy smaller tracts of land.

Individuals use land trusts mainly for privacy and to avoid probate. No one knows what one's bank balance or stock investments are, yet anyone with an internet connection can look up a person's real estate holdings. A person who has an auto accident or a doctor who accidentally injures a patient is a much better target for a lawsuit if he or she owns real estate investments. So some investors buy their properties in land trusts so their name does not appear in the public records. The land trust also allows the property to immediately pass to their heirs at the moment of death, rather than go through a long probate process.

Some of the other advantages of land trusts for individuals are:

• Sales price of the property can be kept off the public records
• Property taxes are lower if the purchase price is kept private
• Judgments or liens (such as IRS liens) against an individual's name are not a lien against their land trust property
• Partners can more easily continue a project if one dies or is divorced
• Interests can be transferred quickly without recording a deed
• Managing a rental property is easier when the trustee can be blamed
• Negotiating a purchase or sale can be easier when the trustee can be blamed
• Liability on financing can be limited to the assets of the trust

Investment trust companies hold property for investment purposes and non-citizens who want long-term access to land in Mexico often enter real-estate trust agreements, called fideicomiso, with Mexican citizens, but land trust more often refers to a community scale organization. Community land trusts are established to provide low- and middle-income families access to affordable housing while conservation trusts protect environmentally, historically or culturally valuable places. Land trusts are also in place to protect farmland and ranchland. Despite the use of the term "trust," many if not most land trusts are not technically trusts, but rather non-profit organizations that hold simple title to land and/or other property and manage it in a manner consistent with their non-profit mission.

Land Trust History

Land trusts have been around at least since Roman times but their clearest history is from the time of King Henry VIII in England. At that time people used land trusts to hide their ownership of land so they would not have to serve in the military or suffer the other burdens of land ownership. For example an elder uncle would hold his nephew’s land so they would not have to join the king’s army. To put an end to this King Henry in 1536 passed the Statute of Uses. The statute declares that if one party holds land "to the use of" or in trust for another ("beneficiary"), legal title is vested in the beneficiary. Obviously, if the statute had been given literal effect, there would be no trust law. Shortly after the statute was enacted, however, English courts declared that the statute only applied if the trust was passive, that is the trustee didn’t do anything but hold the land.

In the late 19th century in Chicago some people figured out that land trusts would be good things for buying property for investors to build skyscrapers on, and city aldermen figured they would be a good way to hide their ownership in land since they were forbidden to vote on city building projects when they owned land nearby. Since the law of England including the Statute of Uses was the law of America the question arose whether a land trust would be valid. This question went to the Illinois Supreme Court which ruled that if a land trust was set up with some minor duty on the trustee (such as to deed the property to the beneficiaries 20 years later), then the trust would not be considered passive and would be valid. Thus the land trust in America today is often called an “Illinois-type” land trust.

Land trusts have been actively used in Illinois for over a hundred years and in recent decades have begun to be used in other states. The creation of land trusts is not a recorded document, however the declaration of a trust is through a "deed to trustee". Many believe that the trust is to be filed as a public document, however this removes all of the asset protection provided by the formation of the land trust. Also anyone can create a land trust.

How To Set Up A Land Trust.

Land trusts are not difficult to use or understand but having the right land trust is essential. It is my opinion that ALL of your real estate should be held in land trusts as a way of keeping your name off public records and as the first step in asset protection.

For more information on land trusts mouse here.

What Credit Card Companies Don't Want You to Know

I just read an article that I had to share with the Romine Faithful. Wow, talk about a powerful clause that could really hurt you!

Here it is...

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What Credit Card Companies Don't Want You to Know

by David Bach

Of all the games the credit card companies play that end up costing you thousands of dollars (late fees, over-limit fees, transfer fees, and so on), it's always been the interest rate game that hurt the most -- until now.

There's a new, completely legal game they're playing, and it can literally wipe you out financially if you're not careful.

The Universal Default Clause

If you own a credit card, you know by now that if you're late with a payment the credit card company will charge you a late fee in addition to raising your interest rate. But did you know that they can raise your interest rate if you've made a late payment on any of your other cards, including those issued by other companies?

Not only that, but your interest rates can skyrocket to 30 percent or more if you make a late payment on your car loan, mortgage, or even your phone bill!

"How can that be legal?" you may ask. The answer is found in the fine print of your credit card agreement, and it's called a universal default clause. According to the Institute of Consumer Financial Education, currently almost 40 percent of credit card issuers apply this policy to their customers.

A Late Payment 'Trigger'

Generally, a universal default clause states that a creditor reserves the right to penalize you with an increased interest rate if you're late -- that is, in default -- of a payment to any other creditor. They justify this practice because, in theory, if you pay any of your creditors late, you pose a greater credit risk and are less likely to pay your debt.

Your creditors also have the right to routinely monitor your credit file. So a creditor with a universal default clause will be watching -- and waiting.

Let's say your Visa card has a universal default clause. Any late payment -- whether it's on your utility bill, home equity loan, or Macy's credit card -- acts as a "default trigger" allowing the bank that issued the Visa card to double or even triple your interest rate overnight. Your all-important credit score will be hurt as well.

According to a study by the nonprofit advocacy and education group Consumer Action, the top three default triggers that cause your interest rates to spike are a decline in credit score, paying your mortgage late, and paying your car loan late.

Other Triggers to Worry About

Under the universal default clause, your interest rates can be increased for several other reasons, including exceeding your credit limit, bouncing a check, having too much debt, having too much credit, getting a new credit card, applying for a car loan, and applying for a mortgage loan.

How does this affect your financial future? Take a look at the numbers. Let's say you're an average American household, with $8,000 of credit card debt. Assuming you make no additional purchases on your card, you have a 9 percent interest rate, and you make the minimum monthly payment, it'll take you 218 months (18 years) to pay off your debt and you'll end up paying $3,334 in interest.

Now let's assume that for whatever reason you were late one month with your car payment. This late payment triggers the universal default clause with your credit card issuer, and now your penalty rate gets increased to 24 percent (the average default rate in 2005). It'll now take you 679 months (56 years) to pay off your credit card debt, and get this -- you'll pay $30,813 in interest.

Staying Ahead of the Clause

Here are six ways to protect yourself from interest rate hike triggers:

1. Stay away from credit cards with a universal default clause.

If you're looking to open a new credit card account, be sure to choose one without a universal default clause. This means you have to truly read the fine print. If you're confused by the fine print (as many are), call the credit card company and ask what specific circumstances will affect your interest rate.

I read recently that Capital One cards don't have a universal default clause (although you should double-check before applying), and Citi has dropped its universal default policy as well. In addition, sites like CardWeb.com, Bankrate.com, and LowerMyBills.com let you compare credit card offers, so visit them before you apply.

2. Know your current obligations.

Check your current statements and credit card agreements to find out your current interest rates, and to identify which cards have a universal default clause that you weren't aware of until now. Again, if you're uncertain after reading the fine print, call your credit card company.

Consider transferring your balance from a card that has the universal default clause to one of your cards that doesn't. But don't rush to cancel the card altogether, because it could have a negative effect on your credit score.

3. Run your credit report.

Not only do you need to know exactly what your current interest rates are, you also need to know exactly what's on your credit report. Visit Freecreditreport.com or myFICO to order your credit report and credit score today.

4. Pay your bills on time.

According to the American Bankers Association, late payments for most types of consumer loans were on the rise during the third quarter of 2006. If you're having trouble with your credit card payments, at the very least strive to make your minimum payment on time.

5. Be proactive -- call your lender for relief.

If you're struggling to make monthly payments on your other bills, like utilities, car payments, or mortgage payments, call your lender to see what options they might be able to offer you. They might be able to adjust your monthly payments so that they're more manageable.

Your goal is to protect your credit report and credit score with a consistent record of on-time payments.

6. Fight back for your money -- write your local legislator.

Right now, there are amendments to the Truth in Lending Act that, if passed, would prohibit many unfair practices within the credit card industry -- including the universal default clause.

As a consumer, you can take action by letting Congress know that you want laws to protect your rights. For more information on how you can be heard, visit Consumer Action's web site.

As I write this, Congress is holding hearings to discuss the abusive and deceptive practices of the credit card industry. Read more about it here.

A Good Night's Sleep

Obviously, what you don't know really can hurt you. Check today and see if you have the universal default clause on your credit cards.

If you do, be careful to stay on top of your debt. Better yet, find a credit card that doesn't have the clause -- you'll sleep better at night.

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Now go buy a house!

Gerald Romine
www.KickAssRealEstate.com

PS - It's much better to learn how to buy wholesale using the greatest flipping system for real estate than to get yourself into financial trouble by spending money you don't have.

Killer News For Real Estate Investors

Last Friday marked a huge turning day for real estate investors nationwide and is very bad news for first time home buyers, real estate agents, investors(yes, even us because we sell to other investors) builders, loan officers, and just about everyone in the residential real estate and mortgage business.

What Happened That Rocked The Real Estate Industry?

Foreclosure rates have been climbing and the valuations of lenders and especially secondary lenders has taken a beating. Many of the companies specializing in 100% sub prime loans that have been extremely popular over the last 5 plus years are struggling with many going out of business.

And when you build your business on shaky ground with buyers that can’t qualify for squat it is only a matter of time before that house of cards comes tumbling down. So it is no surprise that the lending world is changing by leaps and bounds.

In plain English this means we’re back to buyers having to qualify for houses but not having the resources like 100% down financing to buy them.

We’re talking about buyers needing to have much better credit scores and much better down payments.

Combine that with the weak market and foreclosure boom and you have The Perfect Real Estate Buying Bonanza waiting to happen!

To Capitalize On This Bonanza You Must Have These Techniques In Your Arsenal Right Now!

1) Wholesaling and Subject To Buying
2) Short Sales on Pre Foreclosures

If you are not utilizing these systems you are losing money! If you make one mistake you run the risk of not only making somebody else’s problem your own but losing a lot of greenbacks. Dough you could have kept had you only known.

For wholesaling and buying subject to I conducted a boot camp that was recorded live and is available for you to take advantage of if you are wise and want to take advantage of the coming Perfect Buying Bonanza.

The truth is these CD’s are unedited and raw. Every question, every suggestion, every single reason on what to do and how to do it is covered in detail. All the forms you need, it’s all there waiting for you.

My guess is that your business is sliding backward and you are giving up huge profits and opportunities. Here’s where to go to learn wholesale buying and subject to.

The second part of the Perfect Buying Bonanza is in full swing right now. Preforeclosures and short sales are hot and getting hotter. Upside down houses are everywhere. People are going under and the opportunity to short houses has never been higher. My system completely automates the short sale process and working with the lender to get deals accepted. Period. Either you see the need to have this system or you don’t. It’s so obvious I won’t even go on.

With the information I provide you will have all of the tools you need to jump in the middle of this storm and Kick Your Business Into High Gear Like Never Before!

Now go buy a house!

Gerald Romine
www.KickAssRealEstate.com

PS - It's time to GET IN the real estate game in a big way!

Top 10 Tax Deductions For Real Estate Investors

Today I’m going to reveal the top 10 tax deductions for real estate investors!

Now that the markets have changed many of the flippers and wholesale guys are finding tough times in the market. Before one could put any property under contract then sell it quickly for huge profits. Now the real investors are back and buying with better spreads. Sure, there are plenty of new investors out there buying foolishly, but not in the masses like before.
True investing invloves holding real estate and building wealth. If all you ever do is flip properties then you are only as good as your next deal. Think about it!

Top 10 Tax Deductions For Real Estate Investors

1. Interest
Interest is often the largest deductible for property owners. Examples include.

Mortgage interest payments on your loans for acquiring or improving rental property
Interest on credit cards for goods and services purchased for rental activity

2. Depreciation
Depending on whether you have residential or commercial property, the value of your rental property can be depreciated over a number of years and deducted from the total taxable income. Residential property is depreciated over 27.5 years.

3. Insurance
Insurance premium payments are also a deduction; including fire, theft, flood, landlord liability and employee's health/worker's compensation policies.

4. Employees/Independent Contractors
Wages for any work done on the property by your employees (property manager) or independent contractors (plumber) can be deducted as a business expense.

5. Repairs
Some repair expenses are deductible (if they are deemed ordinary, necessary and within reason) if they are incurred during the tax year you are filing for.

6. Home Office
You can deduct home office expenses provided they meet certain minimal requirements. This deduction applies to space used for office work as well as other workspaces you use to operate your rental business.

7. Local Travel
You are entitled to a tax deduction on the expenses you incur while traveling for work related to your rental activity. Traveling expenses that are related to rental activity may include driving to a property to show a unit to a prospective tenant or driving to a hardware store to pick up supplies for a maintenance task.

8. Long Distance Travel
Airfare, lodging, meals and other expenses can be deductions if you travel overnight.

9. Casualty & Theft Loss
Rental property that is damaged or destroyed by a sudden accident (such as flood or fire) may be counted as a tax deduction as well. All or part of the damage (casualty loss) may be deducted depending on how much of the property was damaged and your insurance policy.

10. Legal & Professional Services
Fees paid to accountants, attorneys, property management firms, bankers/investment advisors, or any other professional service used to operate your rental property can also be included in your deductions.

Goto www.kickasswholesaling.com to learn how to buy properties the right way. Whether you are flippingproperties, buying subject to or building a portfolio you make money when you buy. This is your ultimate real estate buying system. Now go buy a house!

Gerald Romine
www.KickAssRealEstate.com

The 7 Secrets To Keep You Buying Right In Today's Changing Market

When evaluating property first determine the ARV(After Repaired Value).

Here are 7 Secrets to keep real estate investors buying right:

1) Use comps that are less than 6 months old
2) Keep the square footage within 10%.
3) Keep the year built to within 5 years
4) Be on the lookout for falling values
5) Check MLS – Properties currently listed could be offered at less than yesterday’s sold statistics
6) Location – If a SFR house fronts a busy street or is close to a large commercial property/apartment/etc deduct 10% of it’s value
7) Compare to properties in the same subdivision is possible. After that book/map or a radius of .5 mile is best.

Gerald Rominewww.KickAssRealEstate.com

PS – The secret to real estate investing success lies in the system you use to buy properties right. Check out the best buying system in existence today because once you put it in place you’ll never imagine your life without it again.

The Computer Is A Real Estate Investors Best Friend

These days real estate investors spend a lot of time on the computer. Websites, MLS, comp research, tax offices, and the list goes on. I’m an impatient guy and my computer was dragging along so I needed to do some good old computer maintenance.

Check out http://www.techsupportalert.com/best_46_free_utilities.htm and if your computer is running slow consider #26 to clean your registry. And if you don’t know what I’m talking about you definitely need #26. There’s a lot more there plus Gizmo gives awesome descriptions.

Happy Investing.

Gerald Romine

PS – And when you need speed with your real estate analysis and paperwork Real Estate Profit Pro makes it a breeze!

Why You Should Always Invest Based On The Numbers

I received a call from a seller that desperately wanted to sell her investment house . This deal illustrates a great point of why you want to invest in the numbers based on a system like Kick Ass Wholesaling (which covers buying for cash and subject to).

Last January she bought the house for 400K and it included a tenant with PREPAID rent and an Option to buy the property. With great appreciation expected to continue she was not too worried about the negative cash flow even though her payments were over $2700 per month. Plus, she was getting prepaid rent at the closing when she bought the property!

Shortly after closing the tenant moved out. Because of the prepaid rent and option all she could do was wait for the lease and option to expire. In the meantime the tenant moved in and out of the house several times. Her hands were tied. In the meantime the market tanked.

Fast forward to today and the house just appraised for 415K... unfortunatelythe appraisal is worthless because the average sale price is 386K in the subdivision. Market value for leasing the property is under 1500 per month. She has great credit that she wants to protect. Her options are few.

Below is the actual lead sheet I received for your review(double click lead sheet to view a readable copy).



Today’s lesson is… invest based on today's numbers and not the future values and appreciation.

This seller has very few options but if she had followed fundamental investing like those in http://www.kickasswholesaling.com/ she would have never purchased this property. As it sits she can expect at least a 50K loss, trashed credit, or carrying the negative cash flow until appreciation covers her poor investing decision.

Hopefully you can learn from her mistakes.

Now go buy a house!

Gerald Romine

HowTo Get More Done In Less Time To Grow Your Real Estate Investing Business

l. Instead of rushing to the office first thing in the morning, keep your computer off and visit your local Starbucks(I drink tea) or living room and spend time working ON your business. Keeping your computer off will help you get non-computer things done (ex. Studying, reading, market analysis, etc).

2. Stop working at a specific time each day and go somewhere where you'll be undisturbed. It is important to take time off from work everyday. My time where I recharge is in the gym with my workout partner. The exercise is great but we both enjoy being able to shut down our brain and ‘turn off’ the work mode.

3. Stop checking your email every 15 minutes. You’ll make more money checking it two times a day on a schedule then you will wasting hours to see what junk has just arrived. I use Outlook and changed the setting to OFFLINE which allows me to send/receive mail only when I tell outlook to do so. Before doing this I was distracted every time an email came in and flashed on my screen.

The best way to accomplish your goals and IMPORTANT TASKS is to make the decision that you're going to work on your business each and everyday and then schedule that time and keep your commitment to the schedule.

Now go buy a house!

Gerald Romine
www.KickAssRealEstate.com

A Lesson In Arizona Landscaping

The smart way to get real estate investing work completed is by knowing what you want, getting several bids, and then paying when the work is completed. But sometimes a little knowledge can be useful.

In Arizona desert landscaping is popular because it is low maintenance and let’s face it not a lot of plants thrive in 115 degrees with direct sunlight. And hey, we have green rocks, red rocks and gold rocks so there’s lots of variety!

How much rock do you need? I prefer to use ½ or 1 inch screened rock and 1 ton covers approximately 120 square feet at 2 inches thick. Assuming your front yard is 30 feet by 50 feet you’ll need 12.5 tons.

What does the rock cost? Typically you can get a good variety of rock for about $30 per ton delivered. So 12.5 tons of rock will cost you $375. The rock company will bring the rock, dump it wherever you wish and then it is your job to have it spread as desired. This can be done in a few hours with some laborers.

When wholesaling or rehabbing houses it is important to know your cost of repairs and improvements. If you are using my systems at www.kickasswholesaling.com or www.realestateprofitpro.com you know how easy it is when you have the right tools.

Gerald Romine
www.KickAssRealEstate.com

PS – PHOENIX INVESTORS – I need to buy a rehab property ASAP to keep my crew busy. If you have any deals send them my way TODAY!

USNews.com: Housing Is Still Off Balance

Here's an article that all investors should read. Next, think of how you could use this article in your marketing and interactions with sellers!


USNews.com: Housing Is Still Off Balance

Understanding How Taxes Affect Our Lives

Today I wanted to share this poem and I’ll let you draw your own conclusions because you really don’t want to get me going on this subject.


Tax his land,
Tax his bed,
Tax the table
At which he's fed.

Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.

Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.

Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.

Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.

Tax his cigars,
Tax his beers,
If he cries, then
Tax his tears.

Tax his car,
Tax his gas,
Find other ways
To tax his ass

Tax all he has
Then let him know
That you won't be done
Till he has no dough.

When he screams and hollers,
Then tax him some more,
Tax him till
He's good and sore.

Then tax his coffin,
Tax his grave,
Tax the sod in
Which he's laid.

Put these wordsupon his tomb,
"Taxes drove me
to my doom..."

When he's gone,
Do not relax,
Its time to apply

The inheritance tax.

Accounts Receivable Tax

Building Permit Tax

CDL license Tax

Cigarette Tax

Corporate Income Tax
Dog License Tax

Federal Income Tax

Federal Unemployment Tax (FUTA)
Fishing License Tax

Food License Tax,

Fuel permit tax

Gasoline Tax (42 cents per gallon)

Hunting License Tax

Inheritance Tax

Interest expense

Inventory tax

IRS Interest Charges IRS Penalties (tax on top of tax)

Liquor Tax

Luxury Taxes

Marriage License Tax

Medicare Tax

Pro perty Tax

Real Estate Tax

Service charge taxes
Social Security Tax
Road usage taxes

Sales Tax

Recreational Vehicle Tax

School Tax

State Income Tax

State Unemployment Tax (SUTA)

Telephone federal excise tax

Telephone federal universal service fee tax

Telephone federal, state and local surcharge taxes

Telephone minimum usage surcharge tax

Telephone recurring and non-recurring charges tax

Telephone state and local tax

Telephone usage charge tax

Utility Taxes

Vehicle License Registration Tax

Vehicle Sales Tax

Watercraft registration Tax

Well Permit Tax

Workers Compensation Tax

COMMENTS: Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world. We had absolutely no national debt and the largest middle class in the world.

When you want to know how to make your fortune so you can pay for these taxes visit www.kickasswholesaling.com.

Taxed Out,

Gerald Romine

Could You Use An Extra 55K?

Talk about a total life change. That's what's happened to Victor Morrison after he got my Instant Real Estate Profit Pro super buying automated software system.
Look at what he says, below, then check out the REPP Link.

Gerald,

I also talked to you about a deal that REPP made for me. I had someone from my JOB (sorry to use that word) come up to me and tell me that he needed to sell his mothers house. She had recently been moved to a retirement home and needed money. He wanted to sell her house for $90,000. I set up a time to view the home. After viewing her house, I used the REPP software to show him that I would be only able to pay $38,000 for her home due to the repairs needed. He could not disagree with the numbers. We negotiated a sale price of $40,000. The rehab should cost approximately $60,000. The sale comps are $159,900 after all repairs are completed. We plan on making $55,000 after closing costs. We would not have been able to do this deal without your REPP software.

Thanks for all your knowledge,

Victor Morrison

Victor, I am thrilled to hear of your success. You have mentioned something incredibly valuable. The part where the seller said “he could not disagree with the numbers.” The power of Instant Real Estate Profit Pro is that it creates offers and backs them up with black and white justification. And as you know educating the seller can make deals/profits happen!

Well my friend, that is all for today.

Now go buy a house!

Gerald Romine

PS - Be sure to get my phenomenal book - Real Estate Magic 101. All you have to pay for is the shipping. Go to www.realestatemagic101.com.

Do You Know When To Use A Partner?

Many new investors are looking for a partner when what they really want is a friend... that is, someone to talk to. And, partnering up could be a monumental mistake.

The first question to ask yourself is why do you want a partner? Here are two valid reasons.

1. To Overcome our shortcomings including:
Knowledge
Money
Skills

2. To divide the workload or risk.

Unfortunately, most people ask somebody they like to partner up and on the surface it seems like a good idea, but is it? What does the other person bring to the table? Do they have something you don't?

If all they possess are the same or very similar skills and a smile then in all likelihood you don't need them and they don't need you. But, if you have the knowledge and time and they have the money then that's another story.

Before you partner up with anybody make a list of each person's strengths and weaknesses to ensure you compliment each other because two people that like each other and have the same skill sets are likely to have problems working together. Why? Because both people will want to do the same things, avoid the same tasks, and think they could do the other persons job better. But, two people with different skills will work together well because both people will be working on their strengths and their partner covers their weakness.

When you look at most people's real motivation for a partnership it often comes down to money, or lack of it. In these cases you would be much better off to find private financing on your own then to form a partnership with somebody that is broke.

In Kick Ass Wholesaling and Instant Real Estate Profit Pro we talk about obtaining private and have a simple system for getting it. You might want to review those sections before getting into a partnership you'll regret. And, if you do get into a partnership make sure you have a written agreement!

PS - I have a favor to ask. If you enjoy this tip please forward thisw blog it to a friend. We're trying to help as many real estate investors as possible and this is one of the few free resources available anywhere online. Thank You.

How to Increase the Sales Price of Your Home

It's here! The time has finally come to sell your house. You want to do everything you can to maximize your profit and sell as quickly as possible. Here are a few ideas to help you find a buyer and close the sale for the highest price possible.

1) Is your house ready to sell? Don't even think about putting your house on the market if there are still little things that need to be done. What seems "little" to you could be a deal-killer to your prospective buyer. One of the most important things you can do is prepare the outside. Most home shoppers are going to drive by and if they don't like what they see on the outside, you'll never get them to see the inside of the house.

2) Stage the inside of the house. Have you ever looked at a model home in a new subdivision and noticed the home had a cardboard TV, silk plants, towels, candles, shower curtains, potpourri, etc? The only reason they prepare or "stage" a model home this way is because it helps them sell houses. You need to "stage" your house too. If you are creative and resourceful you can do this for less than $500. A nice plus is that you get to keep it all anyway.

3) Magic in pricing. Modeling your pricing strategy like the auto industry is smart business. While the real difference between a $9,995 car and $10,000 car may only be $5, the difference in the mind of the consumer is HUGE. You'll never see a car dealer make this mistake. If you're selling a house for $243,000 that's not much of a difference than selling a house for $249,995.

4) Easy to show. People buy houses based on emotion. If your house is not easy to gain access to, your buyer is likely to fall in love with another house that they can visit quickly and easily. Whenever possible, have a lockbox on the house and make it easy for the buyer to get inside and see your beautiful home.

5) Attract the buyer with a flyer. You need two flyers, Make sure the buyer can pick up a flyer about your house when they walk through it or drive by. Imagine they are looking at 15 houses in one day then later that night they are going to make a decision to buy a house. After looking at 15 houses, the details become foggy, but if they have your flyer with pictures and details about the house it will jar their memory and increase the likelihood of a sale. Your second flyer is a financing flyer. It has great terms listed and details how they can own the house for "only $1299 per month." The goal of a financing flyer is to sell them on the concept of a low monthly payment and make them forget about the price.

Follow these tips and you'll be sure to sell your house for top dollar in the shortest time possible.

Don't Let This Happen To You!

Here’s a real big lesson to learn from that came to me as a seller lead through my website. This is real ugly and shows what can go wrong when you speculate.

I own a rental property with tenants, that have a lease with option to buy. I rented this house at the peak of our appreciation in Phoenix, now that prices have corrected I owe much more than the property is able to be sold for. Either my tenants will complete the option to buy, or they will leave and I will have to sell on the market, either way it looks like a short sale. What I perceive my problem to be in the near future is, I am not in any financial hardship, and do not reside in the property needing the short sale. I have heard both of these are requirements for a short sale. I cannot afford to keep up the payments if I have no tenants, waiting for appreciation to return, and I have a negative am loan that is digging me into a deeper hole. I cannot afford to refinance this loan, even with the rent income I wouldn't be able to afford the new payment. Please help me out of this situation.
Thank-you, Jeff

The problem is Jeff bought a rental but did not buy it based on the income. Then, when the market took a turn his problem was compounded with a lease option that gives him negative cash flow, a contractual obligation with a lease option to the buyer, and his option price could be lower than what he owes on the property.

Had Jeff followed a property buying system like that in Kick Ass Wholesaling he would not be in his current position! And while he has a few options on how to get out of this alive he would have been in a better position to invest on sound principles from the beginning.

It’s funny how some people complain about the cost of education or a real estate buying system like Real Estate Profit Pro where they can learn the right way to invest. If you were to ask Jeff I’m sure he’d tell you this is one expensive lesson from the school of hard knocks that he would have rather avoided.

Knowing When To Dump Your Rentals

Here’s a landlord tip that you should pay close attention to.

School districts control house prices in an area more than anything.

So if schools are failing in an area get out of the area quickly. It makes perfect sense but most people do not slow down long enough to think it through.

If you are flipping properties then this is not as important but still a factor. Make sure you use all of the guidelines for flipping found in Kick Ass Wholesaling.

Gerald