In this information age, it can be very difficult to decipher between hype and reality. The good news about real estate is that a closing a statement, also known as a HUD1, separates once and for all, reality from hype. A HUD1 proves a deal is closing. Our operation has always been a HUD1 type company, quietly going about the process of closing deals without all the hype.
In fact, it can be argued that one area of our business that needs improvement is in communicating to the real estate investing community just how productive our program is. The problem is that it is very hard to serve two masters. Either you spend the majority of your day concocting new and fancy hype laden promotions or you focus your time and energy, as well as that of your staff, on producing massive real estate results. Our daily efforts have always been fixated on helping our students close deals. Our growth has come from consistently producing extraordinary results and letting our happy customers do the promoting for us.
So back to the topic of hype vs HUD1s; I have received a few emails recently (as probably you have as well) about some “new” developments in the investing community whereby “now” there is a way to overcome title seasoning issues that present themselves with FHA end buyers and Fannie Mae / Freddie Mac end buyers.
We solved these issues 6 years ago, back before much of this country knew what a short sale was. For those who may be confused, let me clarify the FHA conundrum. When someone gets an FHA loan to purchase a property, the requirement is that the seller must be on title for a minimum of 90 days before the seller can sign a contract with a buyer. This isn't news. It has been that way for much of this decade. More recently, since Fannie Mae and Freddie Mac have become government entities after the mortgage collapse, now Fannie Mae and Freddie Mac backed loans require the seller be on title for a minimum of 90 days.
The reality is that our solutions to these title seasoning dilemmas have stood the test of time, have worked all over the country and the best part is, they work for everyone. Another problem with hype is that it can initially sound good but once you peal off the layers, you find that it only applies to a small percentage of people in a small percentage of situations. (Reminds me of the scene in the movie “The Jerk” where Steve Martin is working a weight guessing booth and when the carnival customer wins, Martin directs the person to pick any toy so long as it is, “anywhere from here, to here; anything below here and above here.” In the end, the customer has the choice of one toy. Or as Henry Ford said of his model T, “you can have any color model T you want, so long as it is black.”)
Here's a HUD1 example. Michele Evans just closed her second deal earning over $43,000 (you'll remember her as the person who made close to $90,000 on her first deal). Michele's new buyer for her deal used an FHA loan. Michele didn't use any money to close on the transaction, didn't borrow any money; all she did was employ the time tested strategies that we pioneered nearly a decade ago. That's the difference between hype and HUD1s.
For those of you who are tired of all the hype and would like to start seeing HUD1s, my advice would be to start taking action. The opportunities are out there and the solutions have been available for years as well. Seek the counsel of very intelligent people who are already producing the results you want to produce. And most importantly, try to discipline yourself to steer clear of the hype and focus on the HUD1s.