Marketing GDI
Saturday, November 8, 2008
Marketing Plan For GDI
If you have made it to this blog odds are you are already a GDI member and have already read my E-mails. So lets not wast any time. If you are going to have any success with marketing online you will need to make an investment. Not a lot but some. We will get to that in a bit.
Copy and past this Blog to your Blog, change all links to your own.
Be sure to share this information with you down-line.
1. Be sure you are a member of Hits2u(here) if you are not you need to do that very first.
2. Be sure your are an active member of GDI(here) if you are not you need to do that now.
3. Sign up with Directmatches (here) this is a great place to gain contacts. You share and you learn its a great site. This also has a payout if people under you upgrade. In order to get the payout you will need to upgrade. This cost is $9.95,$19.95,$29.95 a month. Or stay as a free member until you see it work.
4. Now its time to advertise. Set up an ADword(here) account with Google. When placing the AD be sure to word it for Free Advertising. Because you will be advertising Hits2u and not GDI. Step-2 of Hit2u is joining GDI so these are your leads. I have over 200 leads this month.
Set your spending for the day at what you wish to spend. I spend $5.00 per day but $2.50 works great to. You may get less clicks per day. Set your per click at $0.05. This is enough to get lots of views.
This is my ADwords ad use it if you like.
Free WebSite Advertisment
100% free, get your site seen
Advertise for Free, Cant go wrong
www.hits2u.com/? (your Hits2u ID #)
5. Next you will be receiving E-mails from Hits2u. "You have a new member of Hits2u." Open the E-mail and you will see there E-mail, first, last, and Hits2u ID#. In a new window open you GDI site and go to invite. You will see this on the left hand side. Copy and paste the first, last, and E-mails to the invite list. Press send and an E-mail will be sent with a video about GDI.
6. Come back to the invite page at GDI and see if any one has viewed your site. If so then its time to send a personal E-mail. Telling them about the 7 day free trial. Also that you have a plan that works.
7. After they join GDI send another E-mail to your Blog page. Set up a Blog for free with google Blogspot. And that's it. The money will start to come.
Your costs with Google will average between $30.00 - $60.00 a month. If you go for $1.00 a day then you will spend around $30.00. So you can figure that for yourself.
Remember to truly make money online you need to spend some. The more people you sign up the sooner it is paying for itself. Then the money can start to go in your pocket. I believe that this works and will not take long. I hope everyone can start takeing home a pay check in a month or less.
I hope this is information you will use because it reall does work.
Here is your first E-mail responce: (copy and paste)
Hello (first name),
First of all my name is (your name) and you have viewed the GDI website. I would be your direct up-line with this program. A 7 day free trial is offered, so you really have nothing to lose. I have a system that works. Check out my webpage (your Blog page). I do not charge for my plan. Although, Part of this plan will cost for advertisement.
Anyway, I just wanted you to see the website and tell you about my plan and the 7 day free trial. You can cancel at any time. You will see traffic with my plan. GDI is only $10.00 per month. Remember now matter what anyone tells you. You can not make money on-line without an investment of some kind.
So thank you for your time, (your name)
I will always be here for any questions you may have. (your e-mail) So feel free any time.
Here are your keywords for Adword: (copy and paste)
about multi level marketing
about network marketing
action online marketing network
affiliate lead marketing mlm network
affiliate marketing mlm network
affiliate marketing multilevel program
affiliate marketing network
best mlm
best mlm compensation plans
best mlm lead
best mlm leads
best mlm network marketing
best multi level marketing
best multi level marketing companies
best multi level marketing company
best multilevel marketing
best multilevel marketing companies
best network marketing
best network marketing business
best network marketing companies
best network marketing company
binary compensation plan
binary compensation plans
binary mlm
binary multi level marketing
blog network marketing
building your network marketing business
business mlm network marketing money
business opportunity seeker
business opportunity seeker leads
business opportunity seekers
business opportunity seekers leads
buy mlm leads
cavanaugh marketing network
charles king network marketing
cheap mlm leads
christian multi level marketing
christian network marketing
college marketing network
define multi level marketing
direct marketing mlm
direct marketing network
dish network marketing
does multi level marketing work
donald trump multi level marketing
donald trump network marketing
downline mlm network marketing
elderly opportunity seekers
exclusive mlm leads
fast mlm leads
fastest growing network marketing
food network marketing
fortune multi level marketing
fortune multilevel marketing
fortune network marketing
genealogy lead
genealogy leads
geneology leads
genuine ground floor opportunity
global marketing network
ground floor business opportunity
ground floor opportunities
ground floor opportunity
healthcare sales and marketing network
history of multi level marketing
history of network marketing
holy grail of network marketing
how to sell network marketing
how to succeed in network marketing
international network marketing
internet marketing leads
internet multi level marketing
internet network marketing
juice multi level marketing
kiyosaki network marketing
largest multi level marketing
leads network marketing
legitimate multi level marketing
legitimate multilevel marketing
list of multi level marketing
list of multi level marketing companies
list of multilevel marketing companies
list of network marketing
list of network marketing companies
list of opportunity seekers
ltd multi level marketing
marketing and mailing network
marketing mlm multilevel network
marketing mortgage network
marketing recruiters network
marketing support network
mlm advertising
mlm business
mlm business leads
mlm business opportunities
mlm business opportunity
mlm businesses
mlm companies
mlm company
mlm compensation
mlm compensation plans
mlm complaints
mlm distributor
mlm distributors
mlm downline
mlm genealogy
mlm genealogy lead
mlm genealogy leads
mlm genealogy list
mlm genealogy lists
mlm genealogy reports
mlm geneology
mlm income
mlm lawsuits
mlm lead
mlm lead generation
mlm lead lists
mlm leads
mlm leads generator
mlm leads list
mlm malaysia
mlm market
mlm marketing
mlm money
mlm multi level marketing
mlm multi level marketing network marketing
mlm network
mlm network marketing
mlm network marketing lead
mlm network marketing leads
mlm network marketing opportunity
mlm network marketing
mlm opportunities
mlm opportunity
mlm opportunity seeker
mlm prelaunch
mlm product mlm products
mlm prospecting
mlm prospects
mlm pyramid
mlm pyramid schemes
mlm recruiting
mlm sales
mlm scams
mlm scheme
mlm secrets mlm selling
mlm spill over
mlm spillover
mlm success
mlm success stories
mlm systems
mlm tips
mlm training
mlm truth
monavie multi level marketing
multi level marketing
multi level marketing affiliate
multi level marketing affiliate program
multi level marketing association
multi level marketing australia
multi level marketing books
multi level marketing business
multi level marketing businesses
multi level marketing canada
multi level marketing co
multi level marketing companies
multi level marketing company
multi level marketing companys
multi level marketing compensation
multi level marketing definition
multi level marketing financial
multi level marketing firms
multi level marketing forum
multi level marketing groups
multi level marketing health
multi level marketing in canada
multi level marketing industry
multi level marketing insurance
multi level marketing international
multi level marketing international association
multi level marketing jewelry
multi level marketing jobs
multi level marketing law
multi level marketing laws
multi level marketing lead
multi level marketing leads
multi level marketing list
multi level marketing mlm
multi level marketing mortgage
multi level marketing movie
multi level marketing network
multi level marketing network marketing
multi level marketing online
multi level marketing opportunities
multi level marketing opportunity
multi level marketing organization
network field marketing
network marketing
network marketing advertising
network marketing article
network marketing articles
network marketing association
network marketing australia
network marketing blogs
network marketing book
network marketing books
network marketing business
network marketing business journal
network marketing business opportunities
network marketing businesses
network marketing central
network marketing companies
network marketing company
network marketing compensation
network marketing compensation plans
network marketing definition
network marketing for dummies
network marketing forum
network marketing forums
network marketing group
network marketing groups
network marketing help
network marketing ideas
network marketing in australia
network marketing industry
network marketing internet business
network marketing jobs
network marketing journal
network marketing lead
network marketing lead generation
network marketing leads
network marketing lifestyles
network marketing list
network marketing magazine
network marketing magazines
network marketing manchester
network marketing news
network marketing opportunities
network marketing opportunity
network marketing products
network marketing program
network marketing programs
network marketing prospecting
network marketing recruiting
network marketing recruitment
network marketing reviews
network marketing sales
network marketing secrets
network marketing software
network marketing solutions
network marketing statistics
network marketing strategies
network marketing strategy
network marketing success
network marketing system
network marketing systems
network marketing techniques
network marketing times
network marketing tips
network marketing today
network marketing tools
network marketing training
network marketing uk
network marketing with
network marketing works
network mlm
networking mlm
new mlm
new multi level marketing
new multi level marketing companies
new multilevel marketing
new network marketing
new network marketing companies
new network marketing company
neways mlm
nikken mlm
nu skin mlm
online business leads
online mlm lead
online multilevel marketing
online network marketing
opportunity seeker
how to make money online
work from home
homebased business
how to work from how
working from home opporitunity
"history of network marketing" **
"holy grail of network marketing"
"how to sell network marketing"
"how to succeed in network marketing"
"international network marketing"
"internet marketing leads"
--
Thursday, November 13, 2008
Thursday, December 20, 2007
$25 Free Google Advertising Credit for Businesses
$25 Free Google Advertising Credit for Businesses New to AdWords
If you have a website, give Google AdWords a try. In just a few minutes, you can create ads that appear only to people in your target area. (You can also have an AdWords specialist build your campaign for you.) You choose the cost of your ads, and you only pay if your ads bring people to your website.
Visit http://www.google.com/localcredit and click on "Free Ads?" to get started.
Your promotion code is: 101625673336
* Subject to terms & conditions located on the "Free Ads?" page. Advertisers will be charged for advertising that exceeds the promotional credit amount. Advertisers must suspend their ads to avoid additonal charges. Expires 2/1/07
If you have a website, give Google AdWords a try. In just a few minutes, you can create ads that appear only to people in your target area. (You can also have an AdWords specialist build your campaign for you.) You choose the cost of your ads, and you only pay if your ads bring people to your website.
Visit http://www.google.com/localcredit and click on "Free Ads?" to get started.
Your promotion code is: 101625673336
* Subject to terms & conditions located on the "Free Ads?" page. Advertisers will be charged for advertising that exceeds the promotional credit amount. Advertisers must suspend their ads to avoid additonal charges. Expires 2/1/07
Sunday, September 16, 2007
Real Estate is changing
Much has been written about the changes coming to the real estate industry as a result of the slowing market. But aside from the possibilities of a handful fewer brokerages, what you’ll see at the end of this lull likely will look quite a bit like what you saw at the beginning.
Maybe it shouldn’t be that way. But that’s the way things seem to turn out.
This is the time when there should be a premium on training, but many of the brokerages who will look most attractive to new agents (read: higher splits of the commission) offer limited training. Here’s a hint … if your broker doesn’t offer a class where you go through the contract line by line, find one who does. The contract is your lifeblood and that of your clients, and if you don’t know it you and they are better off with you not being in business.
This is the time when there should be a premium on mentoring, but most of the mentoring programs are financially weighted heavily in favor of the brokers, chasing many agents off to seemingly greener pastures.
This is the time when pricing should be the key consideration for sellers. But the influx of new agents blinded by dollar signs and oblivious to the market realities means sellers always will be able to find an agent for their listing regardless of the price.
This is the time when many observers believe technology and the Internet will put enough pressure on real estate commissions to drive down what agents charge, whatever amount that may be. But the reality is commissions likely will rise as only a smaller segment of the agent population proves able to successfully sell a home. The idea of disintermediation loses some of its sway in a slower market, where it’s not enough to plant a sign in your front yard and wait for the buyers to come.
When there were more transactions taking place, formal training often could give way (to some degree, at least) to on-the-job learning. But it’s all but impossible to gain the needed skills and maintain those skills with one transaction every few months. And experience has shown few agents make the effort to extend themselves and stay current on changes in the market.
There’s a fanciful notion that the slower market will clear out all the marginal agents - those with little ability, little motivative, little knowledge, etc. And true, many agents who entered the market in 2004 now are seeking full-time employment elsewhere (assuming they didn’t get their license to practice real estate part-time on the side.)
But the ranks keep refilling like sharks’ teeth … another row of brand new agents stands ready to start writing checks as those in front of them fall out of the industry. The supply of those ready to make their fortunes as real estate agents is nearly endless.
If anything changes, it will be a return to the historic failure rates of new agents. It’s often said 90% of new agents never make it through their first year. That figure dropped back in 2005 when even Tobey could have sold a house without my assistance, assuming he had passed the licensing exams.
These days, however, many who enter soon will realize they likely shouldn’t have done so.
Maybe it shouldn’t be that way. But that’s the way things seem to turn out.
This is the time when there should be a premium on training, but many of the brokerages who will look most attractive to new agents (read: higher splits of the commission) offer limited training. Here’s a hint … if your broker doesn’t offer a class where you go through the contract line by line, find one who does. The contract is your lifeblood and that of your clients, and if you don’t know it you and they are better off with you not being in business.
This is the time when there should be a premium on mentoring, but most of the mentoring programs are financially weighted heavily in favor of the brokers, chasing many agents off to seemingly greener pastures.
This is the time when pricing should be the key consideration for sellers. But the influx of new agents blinded by dollar signs and oblivious to the market realities means sellers always will be able to find an agent for their listing regardless of the price.
This is the time when many observers believe technology and the Internet will put enough pressure on real estate commissions to drive down what agents charge, whatever amount that may be. But the reality is commissions likely will rise as only a smaller segment of the agent population proves able to successfully sell a home. The idea of disintermediation loses some of its sway in a slower market, where it’s not enough to plant a sign in your front yard and wait for the buyers to come.
When there were more transactions taking place, formal training often could give way (to some degree, at least) to on-the-job learning. But it’s all but impossible to gain the needed skills and maintain those skills with one transaction every few months. And experience has shown few agents make the effort to extend themselves and stay current on changes in the market.
There’s a fanciful notion that the slower market will clear out all the marginal agents - those with little ability, little motivative, little knowledge, etc. And true, many agents who entered the market in 2004 now are seeking full-time employment elsewhere (assuming they didn’t get their license to practice real estate part-time on the side.)
But the ranks keep refilling like sharks’ teeth … another row of brand new agents stands ready to start writing checks as those in front of them fall out of the industry. The supply of those ready to make their fortunes as real estate agents is nearly endless.
If anything changes, it will be a return to the historic failure rates of new agents. It’s often said 90% of new agents never make it through their first year. That figure dropped back in 2005 when even Tobey could have sold a house without my assistance, assuming he had passed the licensing exams.
These days, however, many who enter soon will realize they likely shouldn’t have done so.
Friday, August 10, 2007
Mortgage meltdown contagion
Mortgage meltdown contagion
A grim forecast has economists more pessimistic over how far the collapse will spread to the rest of the economy.
By Les Christie, CNNMoney.com staff writer
August 10 2007: 1:52 PM EDT
NEW YORK (CNNMoney.com) -- The outlook for the housing market looks even bleaker than it did a week ago. Last Friday we reported that foreclosures were skyrocketing, home prices falling and recovery forecasts were being scaled back.
And now this week, the mortgage meltdown spread to the financial markets with ebola-like speed, sparking fears that tighter credit will have a broader impact on consumers, markets and the economy.
The U.S. government continues to downplay the danger. When the Federal Reserve met this week, the central bank said that inflation is the greatest threat to the economy, not the mortgage crisis.
Yet, Countrywide Financial, the nation's largest mortgage lender by volume, reported Thursday that "unprecedented disruptions" in the mortgage market were forcing it to cut way back on the number of loans it was securitizing and selling in the secondary markets.
In the financial markets, credit, including corporate bonds, has become harder to get. Mark Zandi, chief economist of Moody's Economy.com, had been loath to call it a "credit crunch." Instead, he called it a "liquidity squeeze," that had spread to corporate bond and other financial markets. The difference: In a crunch, nobody can get a loan; in a squeeze, only the riskier borrowers are cut out.
"I think it's still a liquidity squeeze," Zandi now says, "but it has elements of a credit crunch, affecting much of the mortgage market."
It has yet to severely disrupt the prime loan market, however, according to Zandi. The situation will continue until financial institutions revalue their mortgage-backed securities to what they're actually worth.
"They're faced with redemptions and margin calls, and they have to value their securities to their market prices because they have to sell them," said Zandi. That will determine how hard a hit the investment community will take.
Peter Schiff, president of Euro Pacific Capital Inc. and author of "Crash Proof: How to Profit from the Coming Economic Collapse," has said the problem goes way beyond subprime.
"It's a mortgage problem," he said. "Subprime is like a little leak where the underlying problem is the integrity of the dam itself. Most of the mortgages taken out during the past few years will fail."
Schiff expects huge losses in the housing market with home prices falling by half in some areas, which he said has to affect the overall economy. He said he'd been expecting the financial markets to start taking hits long before this week's drop.
"This week is making more sense," he said. "The economy is a basket case."
Most economists are nowhere near as pessimistic. Standard and Poor's chief economist, David Wyss, and Moody's Economy.com's chief economist, Mark Zandi, have forecast 8 percent price drops in the housing market, peak to trough.
Zandi does not believe a consumer spending slowdown is enough to trigger a recession, but he hasn't counted it out. What it will do, he said, is "ensure that the economy grows at a pace below its potential. I wouldn't dismiss the possibility of a recession. I put the possibility at one in five."
Ken Goldstein, an economist for the Conference Board, has said he doesn't believe the subprime contagion is enough to send the economy off-track, and that "the idea that average consumers are quaking over the prospects of losing their homes or much of their equity is wrong."
Your Home: When to cash out
The mortgage market adds up to about $10 trillion, according to Goldstein, with about 10 percent to 15 percent of that in subprime. Of that, some 15 percent or so is imperiled, he said.
"It's big, but not the tipping point that will bring the whole housing market down."
But on Friday Goldstein did concede that "The panic and concern over credit is even spreading across the pond to European markets."
On Friday the European Central Bank (ECB) pumped extra cash into the system for a second day in a row, as a means of calming nervous traders. The ECB added $83 billion in liquidity Friday.
The Federal Reserve followed suit, adding $19 billion in temporary reserves. The move was the biggest single temporary open market operation in four years, the New York Federal Reserve said, according to Reuters.
Subprime problems have not, so far, slowed consumption down much. The pace of consumer spending is still brisk, although growth slowed in June. And the Conference Board reported last week that consumer confidence is at a six-year high. Steady job growth and low unemployment (between 4.4 percent and 4.6 percent since September) have kept it that way.
Consumers don't really care much about changes in housing prices or, for that matter, in the stock market, according to Goldstein.
"If you really want to screw up consumer confidence," he said, "go for the jugular - the labor market."
Schiff, however, said, "What [the optimists] don't realize is that consumer spending has been a function of easy credit and the high housing market. The idea that Americans will keep spending is wrong. With [lower home equity and less access to credit] where're they going to get the money?"
According to Goldstein, though, as long as employment stays strong and workers' earnings grow substantially (4 percent annually, according to him), confidence - and spending - will remain high and the economy will chug along.
"Consumers can continue to stay resilient in the face of lower stock and home prices," he said. "Not only is the economy strong enough to survive the crisis, it's strong enough to quiet it."
A grim forecast has economists more pessimistic over how far the collapse will spread to the rest of the economy.
By Les Christie, CNNMoney.com staff writer
August 10 2007: 1:52 PM EDT
NEW YORK (CNNMoney.com) -- The outlook for the housing market looks even bleaker than it did a week ago. Last Friday we reported that foreclosures were skyrocketing, home prices falling and recovery forecasts were being scaled back.
And now this week, the mortgage meltdown spread to the financial markets with ebola-like speed, sparking fears that tighter credit will have a broader impact on consumers, markets and the economy.
The U.S. government continues to downplay the danger. When the Federal Reserve met this week, the central bank said that inflation is the greatest threat to the economy, not the mortgage crisis.
Yet, Countrywide Financial, the nation's largest mortgage lender by volume, reported Thursday that "unprecedented disruptions" in the mortgage market were forcing it to cut way back on the number of loans it was securitizing and selling in the secondary markets.
In the financial markets, credit, including corporate bonds, has become harder to get. Mark Zandi, chief economist of Moody's Economy.com, had been loath to call it a "credit crunch." Instead, he called it a "liquidity squeeze," that had spread to corporate bond and other financial markets. The difference: In a crunch, nobody can get a loan; in a squeeze, only the riskier borrowers are cut out.
"I think it's still a liquidity squeeze," Zandi now says, "but it has elements of a credit crunch, affecting much of the mortgage market."
It has yet to severely disrupt the prime loan market, however, according to Zandi. The situation will continue until financial institutions revalue their mortgage-backed securities to what they're actually worth.
"They're faced with redemptions and margin calls, and they have to value their securities to their market prices because they have to sell them," said Zandi. That will determine how hard a hit the investment community will take.
Peter Schiff, president of Euro Pacific Capital Inc. and author of "Crash Proof: How to Profit from the Coming Economic Collapse," has said the problem goes way beyond subprime.
"It's a mortgage problem," he said. "Subprime is like a little leak where the underlying problem is the integrity of the dam itself. Most of the mortgages taken out during the past few years will fail."
Schiff expects huge losses in the housing market with home prices falling by half in some areas, which he said has to affect the overall economy. He said he'd been expecting the financial markets to start taking hits long before this week's drop.
"This week is making more sense," he said. "The economy is a basket case."
Most economists are nowhere near as pessimistic. Standard and Poor's chief economist, David Wyss, and Moody's Economy.com's chief economist, Mark Zandi, have forecast 8 percent price drops in the housing market, peak to trough.
Zandi does not believe a consumer spending slowdown is enough to trigger a recession, but he hasn't counted it out. What it will do, he said, is "ensure that the economy grows at a pace below its potential. I wouldn't dismiss the possibility of a recession. I put the possibility at one in five."
Ken Goldstein, an economist for the Conference Board, has said he doesn't believe the subprime contagion is enough to send the economy off-track, and that "the idea that average consumers are quaking over the prospects of losing their homes or much of their equity is wrong."
Your Home: When to cash out
The mortgage market adds up to about $10 trillion, according to Goldstein, with about 10 percent to 15 percent of that in subprime. Of that, some 15 percent or so is imperiled, he said.
"It's big, but not the tipping point that will bring the whole housing market down."
But on Friday Goldstein did concede that "The panic and concern over credit is even spreading across the pond to European markets."
On Friday the European Central Bank (ECB) pumped extra cash into the system for a second day in a row, as a means of calming nervous traders. The ECB added $83 billion in liquidity Friday.
The Federal Reserve followed suit, adding $19 billion in temporary reserves. The move was the biggest single temporary open market operation in four years, the New York Federal Reserve said, according to Reuters.
Subprime problems have not, so far, slowed consumption down much. The pace of consumer spending is still brisk, although growth slowed in June. And the Conference Board reported last week that consumer confidence is at a six-year high. Steady job growth and low unemployment (between 4.4 percent and 4.6 percent since September) have kept it that way.
Consumers don't really care much about changes in housing prices or, for that matter, in the stock market, according to Goldstein.
"If you really want to screw up consumer confidence," he said, "go for the jugular - the labor market."
Schiff, however, said, "What [the optimists] don't realize is that consumer spending has been a function of easy credit and the high housing market. The idea that Americans will keep spending is wrong. With [lower home equity and less access to credit] where're they going to get the money?"
According to Goldstein, though, as long as employment stays strong and workers' earnings grow substantially (4 percent annually, according to him), confidence - and spending - will remain high and the economy will chug along.
"Consumers can continue to stay resilient in the face of lower stock and home prices," he said. "Not only is the economy strong enough to survive the crisis, it's strong enough to quiet it."
Sunday, April 01, 2007
Has real estate really gone down that much?
The Keys News reports from Florida. “It took nearly an hour, but only a few minutes were needed Saturday for auctioneers to sell four residential properties and three commercial buildings. With less than 100 attendees at the auction, those in chairs seemed outnumbered by the agents moving around the room trying to generate bids.”
“A 2,000-square-foot home on Terry Lane sold for $800,000 and a 1,400-square-foot Terry Lane home sold for $500,000. In both cases, the bids were closed without any action from the crowd. Because of this, two similar properties on Terry Lane weren’t offered up for auction.”
“‘We didn’t feel like we were near where we could be, it was a disappointment,’ auction founder Ben Anderson said.”
“‘Has real estate really gone down that much?’ auctioneer Chris Camp asked after no one bid on a Third Street triplex that started out and sold for $600,000. ‘Yes,’ someone in the crowd retorted.”
“Anderson attributes buyers’ hesitation to the concern that the market hasn’t yet bottomed out. ‘It’s a buyers market and everything is shifting and changing,’ Anderson said, adding that buyers have ‘gotten off the bus.’”
“‘They’re going to walk around the block before they get back on,’ he said.”
The Montgomery Advertiser. “Colonial BancGroup Inc. has lent $6.4 billion for construction projects, five times the average for banks nationwide. Colonial lends money mostly to local homebuilders well known to loan officers, according to analyst Robert S. Patten.”
“Since 2000, Colonial has bought six Florida banks with assets of $3.5 billion. A seventh acquisition of a $1 billion-asset bank is pending. Many of the deals looked wise at the time because Florida’s economy was sizzling and home values were soaring.”
“Today, a Florida real estate bank must deal with plummeting sales and a growing list of abandoned projects, giving credence to the experts who told the Wall Street Journal that the state ‘is undergoing one of its worst housing recessions ever.’”
“‘Given that Colonial sees itself as primarily a real estate bank, they’re vulnerable,’ said Richard X. Bove, of specialty investment bank Punk Ziegel & Co.”
“Bove said the damage to banks with extensive Florida franchises has yet to show up in their financials. ‘Wait till next quarter,’ Bove said. ‘It’s not just Colonial. A lot of banks are going to have trouble. They’re all in a difficult environment right now.’”
The Sun Sentinel. “If home ownership is the American dream, the scene that plays out every week in Room 385 of the Broward County Courthouse is the American nightmare. ‘Case No. 06-19776,’ intoned the auctioneer, a foreclosure clerk named Barbara Pendergrass.”
“Near the back, Earl Lawrence leafed through his thick black binder and looked up the property, a small townhouse in Tamarac. Bought for $65,500 in September 2000, a foreclosure judgment for debts totaling $188,000 last December.”
“‘They borrowed themselves right out of a home,’ said Lawrence, of Hollywood, a real estate investor who has been coming to the public auctions for 25 years.”
“There were no bids on the Tamarac townhouse Thursday, apart from the minimum $100 that the foreclosing bank made to formally seize the property.”
“The real estate market has become so uncertain, and the debts racked up on these properties so high, even the vultures aren’t nibbling. ‘Would you buy a property for $420,000 if you could only sell it for $400,000?’ said Adnan Kabbara of Weston, a developer and contractor who has bought homes at auction for four years.”
“Properties that would have attracted a bidding war a year or two ago, when the real estate market was soaring, now stay with the lenders. The banks sell them through major national real estate firms, more frequently at a loss.”
“‘The party’s over,’ said Lawrence.”
“With more loans and homes skidding off the rails, the crowd in Room 385 isn’t going to thin anytime soon. As the auctioneer worked through the stack of folders on Thursday, investor John Derynda groaned that he should have brought lunch.”
“‘Two months from now,’ he said, ‘it’s only going to be worse.’”
“A few years ago, condo-hotels practically sold themselves. With real estate prices marching upward, the idea of owning a condo unit on the beach and covering some of the expenses through hotel rental payments seemed irresistible.”
“‘We weren’t salespeople, we were order takers,’ recalled Joel Greene, president of North Miami-based Condo Hotel Center.”
“Today, the market has sobered up. Condos aren’t selling and condo-hotels are caught in the same downdraft. In West Palm Beach, plans for The Harrick, a 138-unit condo-hotel at Lakeview Avenue and South Dixie Highway are on hold. ‘We’re redesigning it as a hotel,’ said developer David Gostfand. ‘The condo market is a little quiet at the moment.’”
“About 1,250 condo-hotel units have been opened in the past two years in Broward and Palm Beach counties, with another 2,500 units approved or under construction. That’s a small number compared with the 15,500 units proposed for Orlando or the 32,800 going up in Las Vegas.”
“Condo-hotel units that sold for $650 a square foot in the late 1990s are offered at $1,200 to $1,400 a square foot now. ‘The big question is with all these projects coming along at one time, are there enough luxury buyers?’ said (consultant) Jack McCabe.”
“Some developers concede that buyers must get a low price per square foot to have any hope of a return on their investment. Jim Clarke plans to begin construction on Clarkes Hotel, a 92-unit condo hotel in downtown West Palm Beach, within 60 days. ‘We’re virtually sold out, but our prices are low,’ said Clarke, who estimated an average unit costs $375,000.”
“Clarke cites a rule of thumb among hotel developers that to be profitable rooms should rent for a tenth of 1 percent of their building cost. If a buyer acquires a unit for $500,000, that translates to room rates of $500 a night.”
“‘That’s kind of hard to sustain down here,’ Clarke said.”
“A 2,000-square-foot home on Terry Lane sold for $800,000 and a 1,400-square-foot Terry Lane home sold for $500,000. In both cases, the bids were closed without any action from the crowd. Because of this, two similar properties on Terry Lane weren’t offered up for auction.”
“‘We didn’t feel like we were near where we could be, it was a disappointment,’ auction founder Ben Anderson said.”
“‘Has real estate really gone down that much?’ auctioneer Chris Camp asked after no one bid on a Third Street triplex that started out and sold for $600,000. ‘Yes,’ someone in the crowd retorted.”
“Anderson attributes buyers’ hesitation to the concern that the market hasn’t yet bottomed out. ‘It’s a buyers market and everything is shifting and changing,’ Anderson said, adding that buyers have ‘gotten off the bus.’”
“‘They’re going to walk around the block before they get back on,’ he said.”
The Montgomery Advertiser. “Colonial BancGroup Inc. has lent $6.4 billion for construction projects, five times the average for banks nationwide. Colonial lends money mostly to local homebuilders well known to loan officers, according to analyst Robert S. Patten.”
“Since 2000, Colonial has bought six Florida banks with assets of $3.5 billion. A seventh acquisition of a $1 billion-asset bank is pending. Many of the deals looked wise at the time because Florida’s economy was sizzling and home values were soaring.”
“Today, a Florida real estate bank must deal with plummeting sales and a growing list of abandoned projects, giving credence to the experts who told the Wall Street Journal that the state ‘is undergoing one of its worst housing recessions ever.’”
“‘Given that Colonial sees itself as primarily a real estate bank, they’re vulnerable,’ said Richard X. Bove, of specialty investment bank Punk Ziegel & Co.”
“Bove said the damage to banks with extensive Florida franchises has yet to show up in their financials. ‘Wait till next quarter,’ Bove said. ‘It’s not just Colonial. A lot of banks are going to have trouble. They’re all in a difficult environment right now.’”
The Sun Sentinel. “If home ownership is the American dream, the scene that plays out every week in Room 385 of the Broward County Courthouse is the American nightmare. ‘Case No. 06-19776,’ intoned the auctioneer, a foreclosure clerk named Barbara Pendergrass.”
“Near the back, Earl Lawrence leafed through his thick black binder and looked up the property, a small townhouse in Tamarac. Bought for $65,500 in September 2000, a foreclosure judgment for debts totaling $188,000 last December.”
“‘They borrowed themselves right out of a home,’ said Lawrence, of Hollywood, a real estate investor who has been coming to the public auctions for 25 years.”
“There were no bids on the Tamarac townhouse Thursday, apart from the minimum $100 that the foreclosing bank made to formally seize the property.”
“The real estate market has become so uncertain, and the debts racked up on these properties so high, even the vultures aren’t nibbling. ‘Would you buy a property for $420,000 if you could only sell it for $400,000?’ said Adnan Kabbara of Weston, a developer and contractor who has bought homes at auction for four years.”
“Properties that would have attracted a bidding war a year or two ago, when the real estate market was soaring, now stay with the lenders. The banks sell them through major national real estate firms, more frequently at a loss.”
“‘The party’s over,’ said Lawrence.”
“With more loans and homes skidding off the rails, the crowd in Room 385 isn’t going to thin anytime soon. As the auctioneer worked through the stack of folders on Thursday, investor John Derynda groaned that he should have brought lunch.”
“‘Two months from now,’ he said, ‘it’s only going to be worse.’”
“A few years ago, condo-hotels practically sold themselves. With real estate prices marching upward, the idea of owning a condo unit on the beach and covering some of the expenses through hotel rental payments seemed irresistible.”
“‘We weren’t salespeople, we were order takers,’ recalled Joel Greene, president of North Miami-based Condo Hotel Center.”
“Today, the market has sobered up. Condos aren’t selling and condo-hotels are caught in the same downdraft. In West Palm Beach, plans for The Harrick, a 138-unit condo-hotel at Lakeview Avenue and South Dixie Highway are on hold. ‘We’re redesigning it as a hotel,’ said developer David Gostfand. ‘The condo market is a little quiet at the moment.’”
“About 1,250 condo-hotel units have been opened in the past two years in Broward and Palm Beach counties, with another 2,500 units approved or under construction. That’s a small number compared with the 15,500 units proposed for Orlando or the 32,800 going up in Las Vegas.”
“Condo-hotel units that sold for $650 a square foot in the late 1990s are offered at $1,200 to $1,400 a square foot now. ‘The big question is with all these projects coming along at one time, are there enough luxury buyers?’ said (consultant) Jack McCabe.”
“Some developers concede that buyers must get a low price per square foot to have any hope of a return on their investment. Jim Clarke plans to begin construction on Clarkes Hotel, a 92-unit condo hotel in downtown West Palm Beach, within 60 days. ‘We’re virtually sold out, but our prices are low,’ said Clarke, who estimated an average unit costs $375,000.”
“Clarke cites a rule of thumb among hotel developers that to be profitable rooms should rent for a tenth of 1 percent of their building cost. If a buyer acquires a unit for $500,000, that translates to room rates of $500 a night.”
“‘That’s kind of hard to sustain down here,’ Clarke said.”
Friday, March 30, 2007
Freemont is out of business
Real estate investing has changed since the closing of several lower tier banks. What will that do for people interested in getting into investing in real estate? It will definitely make it harder to cash out on a flip or rehab. I have used several B C and D credit banks like Freemont. I used Freemont several times and losing their special programs will make it much harder to get my houses financed, especially in the lower priced housing market. What can we do as investors to combat the tighter underwriting of the banks and mortgage companies that are left? The best way to work around the new rules is to offer lease purchase options or owner financing. Both of these options will allow you to get the house moved, but you will not be able to get your back end money without putting permanent financing on your investment property. I recommend trying a 2 or 3 year lease purchase. Please read my article on lease purchase options for more
Monday, January 15, 2007
Amazing how to rehab video free!
It sold for $147.00 dollars on the net
for over a year....
The video goes through an entire rehab
from start to finish. It will teach you
everything from soup to nuts.
We even go over the figures so you'll
know exactly what to spend for your
renovations!
You can access the video here:
http://www.youtube.com/watch?v=yP_URs_WT48
for over a year....
The video goes through an entire rehab
from start to finish. It will teach you
everything from soup to nuts.
We even go over the figures so you'll
know exactly what to spend for your
renovations!
You can access the video here:
http://www.youtube.com/watch?v=yP_URs_WT48
Subscribe to:
Comments (Atom)