Momfiles- Flip That Foreclosure

Moms and Dads Real Estate Investors trying to Profit from Foreclosures! Stage one, the delinquency phase is the time to structure a deal.

Coming across a homeowner willing to liquidate the property at this stage is priceless. I say this for 2 specific reasons...

(1) Partnership: There's a lot of external pressure on the homeowner(s) at this time. The home loan lender is calling, and most likely so are other creditors. The environment in the home is very challenging for everyone. If you are in a position to bring a "SOLUTION" to the homeowners problems. You place yourself in a very favorable position. Always remember "foreclosure is an emotional process" to deal with from a homeowners perspective. Partnering with the homeowner(s) to solve their problem is where you want to be. As a partner you are someone they can trust, someone who is honest in their dealings, compassionate, and professional. The best win/ win deals are created here in my opinion. Having worked to structure many foreclosure purchases for my investor clients, I have seen the stage one strategy work many of times. This is the best way to ensure you get the deal.

(2) Lack of Competition. When a person is trying to Profit from Foreclosures! Speed is very important. I remember back in 1997, the ultimate deal that got away from me because of my fear of moving forward. I was so afraid that I would make a mistake that I literally made the mistake of taking my time. I read a quote once that says " you can't steal second base in slow motion". After losing my deal, believe me I understood that quote very well. I often drive past that home on Oakland Avenue just to remind myself of what non-action can do. Anyways, when you deal in stage one, the delinquency phase, you do not face much competition from fellow investors. Trust me in Foreclosure Deals there is no honor amongst investors, each man or woman for themselves. I am not writing from a fairy tale story. I am writing from in the trenches. I have counted money that was taken at the last moment by some slick talking investor who got a tip that the house I was working on was in play. This is in the trenches talk. Oops, I am rambling again- sorry.

When you have a homeowner partnering with you. They are more likely working with just you. They may have gotten your information from a trusted friend of theirs. However, when stage two comes into play. The flood gates open and your homeowner will have more investors coming at them, like an A rated celebrity has paparazzi on Oscar night, and everyone wants to get that one perfect shot.

Your homeowner will begin to get mail solicitations, phone solicitations, and investors just showing up at the door. Remember "foreclosure is an emotional process", and with your homeowner meeting all these new investors with their solutions. Well, let's just say, you begin to move down the totem pole. With each new investor singing to the choir, your homeowner starts to hesitate on moving forward with your deal even if it is the best solution. Do not take this personal. The homeowner is only seeking what they perceive to be the best "SOLUTION" for them.

Now can you understand why I say stage one is the best stage to create win/ win solutions? So go for it, and remember "You can't steal second base in slow motion".

Husbands can be right once in their life

Hello friends! Today I have been a very, very bad wife. I was vacuuming this morning as my fabulous, hunky, handsome husband watched. I was going toward the speaker cord when he told me to be careful before I vacuum it. I told him, "I see it and this old vacuum would not have had enough power to suck it up anyway". So on went the vacuuming when again my fabulous, hunky, handsome husband noticed I was almost about to run over the vacuum cord. This time I did in fact run over it (by accident, I swear!). Let's just say that the cord is now tangled on the brush part and it is shredded like mulch! OOOPPPS! If you could have seen the look I got....I am still scared! LOL!! I asked him if he was mad but he insisted he was not. The bad part is I keep getting the "I told you so" because I completely swore the vacuum was not suctioning properly. Now I am out of a vacuum and I was wrong for one of the very few times of my life! Not a good day :(

Family Finances Update

Hello Everyone,

I received a few emails about my upromise.com
recommendation. It is important that I mention a few facts.

1. This is a Free program to join and it is designed to help families save money for college education. It will also help those that have Sallie-Mae student loans decrease their balance.


2. To sign up you must enter a grocery card, debit card , or credit card at time of signing up.


3. When you shop at different locations, money will be credited to your child's account if the product you buy is a sponsored partner of upromise.com

Example Yesterday we had to purchase

• Tylenol Allergy due to the allergies that run crazy in our home. We used our debit card that we have registered with upromise.com .By using that particular debit card, 2% of our purchase price will be credited to our college saving account.


• I grabbed some Bic Razors and we had 3% of the purchase price credited to our account.


• Last stop, Pep Boys Auto where I purchase items to clean the car like tire shine, car wash, car deodorizer, etc.. and had 2 % credited.

See how easy it is to accumulate? 2% here and 3% there can really add up. Just by doing my normal shopping. This is like FREE MONEY! I am now having my mom and father join. Then I am going after the in-laws, aunts, uncles, pretty soon I'll have the whole family reunion contributing to my kids college education. Hey, every little bit helps.

Family Finances

It is May and tax season is behind you. It is now time for you to take inventory and prepare yourself for the next tax year. I recommend that your take a look at your current W-4 holding. If you are withholding too much of your gross income, what you are doing is giving Uncle Sam an interest- free loan, you might as well just send me the money ( just kidding- no seriously). On the flip side, if you are not having enough money taken out, you will end up paying out to Uncle Sam at the end of the year. To figure out what you should do. Take time to visit http://www.irs.gov/individuals/article/0,,id=96196,00.html .

May is also a great time for you to take inventory of all your personal belongings. Take the time to document your personal assets. As we have seen here in the United States, Mother Nature has really been ticked off at us. Why? That is another post for another day. Right now we must learn from her that a hurricane, flood, snow storm, or tornado can strike at anytime. Therefore, having your assets documented via an excel spreadsheet (with serial numbers and photos), or video taped, and stored with your insurance agent can protect you later on.

As mentioned previously, expect oil prices to reach over $70.00 a barrel by summer. What does this mean to you ? It means gas prices will climb to $4.00 a gallon for the average cost across the nation.

Great time to join the FREE program Upromise and start saving for your child's education. Mobile Gas is offering 1 cent per gallon of gas donated to your child's account. Those pennies can sure add up!

Click here to sign up: Upromise - Join millions of families who are discovering a whole new way to save for college

Spring Fling

Our Family went to the "Spring Fling" carnival that was held at our little one's elementary school. It was loads of fun! We watched the kids bounce around all over the place, ate corndogs and pizza, and Big Daddy can never stay away from the bake sale!! He says he has to give every effort to "support his child's school".






The kids went on a hayride, we viewed all the cool things the vendors had to offer and the kids had their hair spray painted blue and orange!

We had such a nice time together and were all Spring Flinged out for the year!

Bring it on Ladies!- Go Boy Power!!

Welcome to world...I am so glad that you are in it today! It is great to be here with you. Extra- Extra read all about it... Ismailwire and Momfiles.com has joined forces once again to bring the maximum value to both blog readers. (Well lets just say my wife won the bet.) I am married to the beautiful Sheliza and she used her womanly charms to convince me to be her blog writer for father issues, and assist with small business advice for her (oops, "Our Readers"). My grown up job is President of Financial Options, LLC a commercial real estate lending firm in SC. I plan on sticking up for the dads that read her (oops, "Our Blog"). As a man, I will be a champion of the man people, I will be a voice for the men near and far. Bring it on ladies! Go- BOY POWER! (What, my wife controls what gets posted ?-Hey No Fair!)

* Wife made put this: "I am really excited about being a part of momfiles.com, my wife was right, and I will obey the momfiles.com rules".

Man, censorship already... on my first post! Fellas, I will need your help to back me up on here. Make sure to help me out by commenting on my post. But in my manly defense, (wife is looking over my shoulder), I 'll just shut up here. Take care everyone and have a great day. Ismail "the Great" ! Go Boy POWER!