Scott Baumgart, my QuickStart Bootcamp grad does things a little differently in Oakland county in Michigan.

For example he says that "I dont buy houses - I buy ATM's that look like houses".

He also got $370,000 In Other People's Money gotten in a record six months after attending QuickStart Bootcamp with me.

2 Flips done already and checks deposited.

A plan to build a cashflow horde of properties, bought cash and kept free and clear with 100% Equity.

Negotiates hard. Gets incredible deals.

Incredibly he also works full time in a high pressure job, does the real estat thing in Michigan in his spare time. Imagine the damage he would do if he had more spare time.

There is a line / script in this video which will make you thousands of dollars in reduced prices when talking to REO brokers or Loss Mitigation Officers. Pay attention.

Want to learn in 2008 what Scott is doing so successfully? Come to QuickStart 2008 Bootcamp on January 18,19,20 and spend three days with me in Troy, Michigan and get the same exact step by step blueprint that I gave him. Early Bird $1,000 discount expires midnight December 31. Details are here. Only 10 students are allowed out of which 5 spots are already taken. Do not wait till the last minute. You might miss out.

If you have any questions about QuickStart 2008 Bootcamp, call Nora at 248-561-3535. Watch what 4 of my last QuickStart grads had to say about the bootcamp. Comes with a My Brass Balls 100% No Risk Enrollment Guarantee - sit in for the entire first day; don't like what I am saying, get a full refund of your tuition plus get a $500 gas card.

Posted by Mark Ijlal at 02:43 PM | Permalink

Posted by Mark Ijlal at 05:51 PM | Permalink

I don’t know why I should be surprised that the new “Save The Homeowner” plan announced by the federal government is so lame. After all when was the last time politicians did anything that made any sense?

And if you are thinking that NO MORE FORECLOSURES IN MICHIGAN IN 2008 – I think the exact opposite is true for Michigan at least.

May be this plan will work in Boston or San Francisco but not in Michigan AND certainly NOT in metro Detroit.

Here is why:

1. This plan excludes anyone more than 30 days late at the time the mortgage would be modified or anyone who has been more than 60 days late at any time within the previous 12 months.

2. This plan also only covers borrowers with adjustable rate mortgages (ARMs) resetting beginning in 2008 and leaves out any who are judged capable of continuing to make mortgage payments at the higher reset rates.

Borrowers who can't afford the loan even at low introductory rates also will be ineligible, according to Anne Canfield, executive director of the Consumer Mortgage Coalition, which represents lenders and mortgage servicers.

Those borrowers will have to work with servicers on a case-by-case basis to determine if their homes can be saved.

The kicker - Of the perhaps 2 million subprime ARMS that are expected to reset through the end of 2009, only 240,000 of those would be covered by the freeze, according to an analysis made by investment bank Barclays Capital as reported in The New York Times.

The Center for Responsible Lending, a group that promotes homeownership and works to curb predatory lending, estimates that only 145,000 households will qualify for the rate freeze.

Too little.

Too late.

For too few.

According to CNN as the foreclosure crisis deepened it became apparent that many sensible modifications were being shot down because investors (meaning BANKS) would not agree to them. An analysis by Moody's earlier this autumn revealed only about 1 percent of resetting ARMs had been modified this year.

If you are a national bank and you have a chance to modify a rate free on a loan effectively getting stuck with a low paying investment for the next five years and you have a homeowner calling from Dearborn Heights or Grand Rapids calling in for a $150,000 loan and two homeowners calling in from San Francisco, with a $800,000 home loan each…

Which file do you think floats on top of the case officer to get a fast decision?

Which file is ‘safe’ for the bank to hold on to for the next five year?

There is a tidal wave of foreclosures in Michigan that keeps on just rising. You are not going to find it in your cubicle at work. You are not going to find it in Google. Go and meet a REO broker in your Michigan City this week or post an ad in Craig’s List and see for yourself what is going on the ‘real world’ in Michigan.

You will be shocked at the number of good deals available right now.

Posted by Mark Ijlal at 11:23 AM | Permalink

I recently threw a Christmas Party for around 100 of my Michigan Foreclosure Report readers - just an opportunity to know the faces behind the emails and faxes I get and share what we have learned about investing in Michigan foreclosures in 2007 and a plan for going forward in 2008 and an opportunity for Michigan Foreclosure Report readers to network with each other and know other foreclosure investors.

I prepared two new presentations just for the occasion; talked for around 3 hours, we had dinner together and then I hung out with a dozen of them till midnight answering their questions.

I am throwing another party in December for QuickStart grads and if you are one of them - watch your mailbox for an invite coming your way very soon.

I had a blast and I am going to do another one of these in Spring 2008. Here are some pictures.

Nora made sure that food was good. I was so busy masterminding with other investors that I forgot to eat dinner.

Some really successful investors from all over Michigan are sitting in this room right now.

The Michigan Foreclosure Update 2008 - laying down a plan for the next 12 months.

The Midnight Crew - hanging out in the hotel lobby talking about real estate investing in Michigan

Money Loves Speed - Yeah! I got all of them convinced about it.

Posted by Mark Ijlal at 11:08 AM | Permalink