There is alot of talk about Kenny Rushing and His Bulk REO’s right now.  Here’s the scoop, complete and utter disclosure, kinda like when you do a double closing, everyone knows whats going on.  

Kenny is a small mastermind group I am in. He was a master at quick flips in the Tampa market when  met him a few years ago. The GUY crushed it!  Then as we all know Florida took a massive nose dive, and like everywhere else it is still in the toilet.

Kenny like alot of folks, lost everything. It wasn’t pretty. But like all successful entrepreneurs do,Kenny found a way to get back on his feet. So he perfected the Bulk REO market.  Go where the deals are… and if your gonna play, play BIG.

Now… here’s the complete disclosure part. I do not have his system.  I am like you, learning it as he talks about it.

Now, there are alot of people promoting the product, which is cool I guess. The reason I am sending this to you is well, I got about 56 emails asking me for my thoughts on it.   I know Kenny, just like I do my brother… he got knocked down but the economy, and he got up and KICKED back.   that is the guy you will wanna follow…. Cool?

You can hop over here, and check it out..

and then tell me your thoughts below..

Now Just remember, be a servant, and your customers will love ya!

Tony

He says that right now there are 2.5 million people in the foreclosure process  and another 5.3 million that are 90 days or more late that the process is getting ready to kick in gear.

And we all heard that last month was the slowest

Live at the Station!

month in home sales since dirt was made…. and some people actually claimed to be surprised by this.  And the National Association Of Realtors said it was a “pause”.  Oh man… I dont want to be a jerk… I love Realtors… but the leadership there needs to take a reality check.  A 27% drop is not a pause…. dude its a friggin crash!

NOW IS THE TIME TO BUY!!!! Get your private money lined up, call your Realtor and BUY!!  The tim eto buy anything is when prices are down, not on the up swing, or at the top of the market 5 years ago.   The market will swing up again, who cares when, it always does.  But while the pendulum is down, grab what you can!

The techie dude is working on the podcast for last weeks Radio show, The Real Estate Profit Hour, heard every sunday @ 9am on AM 560.  It can also be heard live streaming at www.560WIND.com   This week we will be discussing wholesaling of houses with a guy I know that wholesales more houses than I know.   His name is Ken.. and he crushes it!

One of the lessons I learned when I was started buying houses is that we need to always be learning. Just this morning I started reading my 6th book of the yearm by Joe Vitale.  I learned a long time ago to learn from the mistakes that others make, and not repeat them.

I have a FREE short video series on the top 3 mistakes I have seen investors make, both seasoned and newbies.  You can grab those over at www.TonySeverino.com.

And I’ll see ya in a day or so when the techie dude finishes his formatting stuff from last weeks show.

Now … Go be a servant and help someone.

Tony

I am so pumped up.. This Sunday Lisa and I will be running the premier of our new Radio Show The Real Estate Profit Hour

WHEN   Sunday Mornings @ 9am (CST)  Heres the Show Schedule

WHERE   AM 560 (Chicago, Wisconsin, and Indiana) or Streamed Live @ www.560wind.com

On this premier show, we are going right after the biggest thing that is crushing most investors dreams… where to find the cash to grab as much real estate as you want.

Heres The Press Release!

Now Just like we do in our mastermind with our students, this is going to be a NO BS hour…

So grab a hot cup of coffee… and lets hang out Sunday.

Just remember, always be a good servant

Tony Severino

Some folks have fear that we are going to have a double dip recession, and with a lack of “hot markets” and plummeting property values, one of USA Today’s financial experts has stated that “the days of flipping real estate, commercial or otherwise, are pretty much over”. Tom Casey, a certified financial planner at Casey Thomas & Associates, believes that now is the time to rent property, not try to sell it quickly to turn a profit.

I get that, you see, the housing business like every other has it’s niche’s. Some folks are realtors, some are flippers, some rent units out. It is really dependent on what you want to get from the Real Estate business.

To come out like Tom did, above is in my view so narrow minded, it screams of lunacy. Everyone has a different risk tolerance. Quick turning houses can be very profitable, you can make a years median income in one deal.. even today. It takes a ton of effort, and research to get the sweet deals, but it still can be done today.

On the other side, renting property out is a very traditional and long term technique for wealth. It can be rewarding, and a pain if you try to cheat and cut corners. I have a ton of rental property. Some has only a few hundred bucks income per month, some can have much more. But this model is more of a supplement to another income stream, not one that you can support your family on unless you have a huge amount of assets.

I see people going after one stream of income.. and not looking at the whole picture. Realtors only going after FHA buyers, flippers ignoring holds, rental holders not looking at a small commercial project. Its a lack of vision or maybe its education. Some people only have a small amount of knowledge, and haven’t invested in themselves to learn more.

What are you successful with, and where are you going to next… tell me your comments below.

Tony Severino

So Brent asked if he could get 2.2 million dollars in missed payments forgiven and then short sale the properties.  That was cool… until Stumpy then stole 7 identies and created false identies to buy these assets,   So then ole brent could control the houses and possibly transer deed back to himself…  Morons… I hate idiots who try to screw with this business.

Now ole stumpy was convicted on wire fraud, false statements to the FDIC, and aggravated Identity Theft.

Why do they have to do this?   Its TOO EASY to make money leagally, morally and ethically!

Ok… Let loose with your thoughts!

Real estate data provider Altos Research is taking a very bearish outlook on the housing market.

The California-based company says that ominous shadow inventory of distressed properties hanging over theindustry will lock home prices into a downward trajectory for the remainder of this year, with property values starting out 2011 even lower than they were in 2009.

Market trends charted by Altos show that inventory levels are indeed moving higher and the influx of shadow inventory is beginning to show in the market. The company’s VP of data analytics, Scott Sambucci, described a noticeable shift in housing supply dynamics in a Webinar earlier this week, in what he called “a sign of market weakness.”

Last week BusinessInsider let loose with some stats that kinda blow me away. You see like most people I was raised in a middle income home.  I was taught to go get a job, work hard and you’ll be set. The Company or the Union will take care of you. Well, when NAFTA started sending out of the country at a pace that was unprecedented, the writing was on the wall. The game was changing, and it wasn’t comin back.

According to BusinessInsider The 22 statistics detailed here prove beyond a shadow of a doubt that the middle class is being systematically wiped out of existence in America….

The rich are getting richer and the poor are getting poorer at a staggering rate. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a blinding pace.

So why are we witnessing such fundamental changes? Well, the globalism and “free trade” that our politicians and business leaders insisted would be so good for us have had some rather nasty side effects. It turns out that they didn’t tell us that the “global economy” would mean that middle class American workers would eventually have to directly compete for jobs with people on the other side of the world where there is no minimum wage and very few regulations. The big global corporations have greatly benefited by exploiting third world labor pools over the last several decades, but middle class American workers have increasingly found things to be very tough.

Here are the statistics to prove it:

•    83 percent of all U.S. stocks are in the hands of 1 percent of the people.
•    61 percent of Americans “always or usually” live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.
•    66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
•    36 percent of Americans say that they don’t contribute anything to retirement savings.
•    A staggering 43 percent of Americans have less than $10,000 saved up for retirement.
•    24 percent of American workers say that they have postponed their planned retirement age in the past year.
•    Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.
•    Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.
•    For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.
•    In 1950, the ratio of the average executive’s paycheck to the average worker’s paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
•    As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets.
•    The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
•    Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008.
•    In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector.
•    The top 1 percent of U.S. households own nearly twice as much of America’s corporate wealth as they did just 15 years ago.
•    In America today, the average time needed to find a job has risen to a record 35.2 weeks.
•    More than 40 percent of Americans who actually are employed are now working in service jobs, which are often very low paying.
•    or the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.
•    This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour.
•    Approximately 21 percent of all children in the United States are living below the poverty line in 2010 – the highest rate in 20 years.
•    Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.
•    The top 10 percent of Americans now earn around 50 percent of our national income.

Giant Sucking Sound

The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world. After all, what corporation in their right mind is going to pay an American worker 10 times more (plus benefits) to do the same job? The world is fundamentally changing. Wealth and power are rapidly becoming concentrated at the top and the big global corporations are making massive amounts of money. Meanwhile, the American middle class is being systematically wiped out of existence as U.S. workers are slowly being merged into the new “global” labor pool.

What do most Americans have to offer in the marketplace other than their labor? Not much. The truth is that most Americans are absolutely dependent on someone else giving them a job. But today, U.S. workers are “less attractive” than ever. Compared to the rest of the world, American workers are extremely expensive, and the government keeps passing more rules and regulations seemingly on a monthly basis that makes it even more difficult to conduct business in the United States.

So corporations are moving operations out of the U.S. at breathtaking speed. Since the U.S. government does not penalize them for doing so, there really is no incentive for them to stay.

What has developed is a situation where the people at the top are doing quite well, while most Americans are finding it increasingly difficult to make it. There are now about six unemployed Americans for every new job opening in the United States, and the number of “chronically unemployed” is absolutely soaring. There simply are not nearly enough jobs for everyone.

Many of those who are able to get jobs are finding that they are making less money than they used to. In fact, an increasingly large percentage of Americans are working at low wage retail and service jobs.

But you can’t raise a family on what you make flipping burgers at McDonald’s or on what you bring in from greeting customers down at the local Wal-Mart.

The truth is that the middle class in America is dying — and once it is gone it will be incredibly difficult to rebuild.

http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7

A U.S. District Judge has ruled that a California woman licensed as a realtor in California promoting and selling Nebraska properties can continue to do so, even though she is violating changes to the Nebraska Real Estate License Act that would require her to be licensed in Nebraska in order to advertise and sell Nebraska properties though her website. The judge ruled in this manner because the new changes to the NREL Act are, according to him, unconstitutional because they give the Nebraska real estate commission jurisdiction “beyond Nebraska.

The judge temporarily blocked the enforcement of the changes in NREL and scheduled a hearing for August 3. In the interim, the woman can continue to offer “advertising to homeowners who wish to sell their properties without the use of a commission-charging realtor.” She charges a flat fee for her realtor services instead of a commission.

Tell me your thoughts below....

Now what do you think about that?   Can the Realtors laws be enforced across state lines, or is each states citizens sovereign.  How can State A enforce itself upon a citizen of State B...when the citizen is not in state?   This ought to be a good one!

http://www.msnbc.msn.com/id/38490074

I am spending a few days out here Vegas this week, and while I am out here I have have some great principles out success re-drilled into my mind.

Alot of folks have had some struggles in their Business.  They have tried to buy houses, and just quit after it became too hard, or they hit a speed  bump.  Or they bought a course and hen tried to go it alone. I get it..       You see when I started in the business, Lisa and I went in it alone, without a coach, a mentor, and we had some mild success. Nothing to write home about, a few 25k checks, and some flips here and there, but nothing to be a shining star in the industry.

Its when I relaised that all ultra successful people have others guide them and help them grow is when we busted the doors down.  IT AINT YOUR FAULT,,, NO ONE TOLD YOU THAT when they were selling you a course. I have bought dozens of courses, and spent a small fortune on coaching and mentors.  There is no way we would be where we are without them.

One of the largest tools I can attribute to our success is a book called Think and Grow Rich, by Napoleon Hill   (click here to grab a copy) .  In this book, Napoleon Hill was hired by Dale Carnegie to interviwe the most successfiul people if the time and find out what made them become multi millionares.  Those tools are as applicable today as they ever where.  Yesterday I was on the phne with a buddy of mine in Houston who buys 2-3 houses per week. And we were discussing the Inner Game of the investors we see, and the lack of true success in most of them.  I cant blame iot on the courses, since I have most of them, they are awesome !   Most of it is in between the ears.

When I jumped into the invetsor world I brought stinkin thinkin crap into the business with me. Until I read Think and Grow Rich, I didn’t get rid of the crap. I carried it with me, and success eleduded me.  Its kinda like a fish tank.  If you have a fish and it gets sick, how do you make him better?  there are no fish vets.  You cant take a guppy to the vet and say fix em.  You gotta get the fish out of the water its in, and replace all the water in the tank with clean water.  You gotta purge the environment. My mind was the same way, and your probalby is too…

Now I have the entire Think and Grow Rick book on MP3… because well, I like listen to it instead of reading it. Thats how my brain works. SO shoot over HERE, and grab yours, and clean out your fish tank.

To your MASSIVE SUCCESS…..

While the main focus on financial reform has been on how the new rules and regulations will impact Wall Street and “Main Street” when it comes to how investors, bankers and borrowers work together, Congress snuck in a little itty bitty 1 Billion into the “Wall Street Reform” bill.  This is a $1 billion “emergency homeowner’s relief fund” that can be distributed starting October 1 of this year[1].

An additional $1 billion has been allocated for redeveloping abandoned and foreclosed homes.  How is that Wall Street reform???

While the details and allocation of these funds has not yet been made public,  (which  to me is rather scary) unemployed homeowners currently can receive at least 3 months forbearance on mortgage loans through HAUP (Home Affordable Unemployment Program). Currently, states determined to be “hardest hit” receive extra federal funds for foreclosure prevention, but the new monies are to be allocated to help unemployed homeowners in all parts of the country who find themselves unable to sell their homes, make their payments or borrow against their home to keep themselves afloat. The term hardest hit is kinda of subjective, and not a fair and equitable distribution to everyone… (i’m just sayin…)

Do you think that this program will be effective?  Do you think this is simply putting a tiny band aid on a massive wound,…. or do you think that the federal government has no business in providing this type of support.

1] http://www.marketwatch.com/story/bank-reform-brings-mortgage-aid-for-the-unemployed-2010-07-22