Hunter Paschall Real Estate Articles and Tips

It was only two weeks ago that my wife and I took a trip to North Carolina.  We invited a couple of friends of ours to come up and visit.  One of them is a Builder, one a lender and one a financial advisor.  Even though we were on a vacation, our career choices and conversations of the Real Estate market were inevitable. 

As we sat one morning around the breakfast table, we began to talk about how each of us views this so called "Real Estate Meltdown".   Chaos, negativity, bad debt, bad loans, bail out plans, all of these words and phrases came to the table.  Is this how we want to perceive the path our careers are supposedly heading?  Why do we choose to use these expressions?  Why is the public in such a state of fear?

This conversation went on and the only solution that was right in front of us is that we need to change our mindsets.  If we continue to use these negative phrases and word choices, of course we are going to continue to believe that it is a reality.  Let's think positively.  What can we do to help people get out of their situations?  How can we make the public feel more comfortable in this market?  A scared man can't gamble, and that is exactly what is happening in this market.  People are afraid to invest.  People are afraid to spend their money.  We need to change the mindset of ourselves and our buyers.

How do we do that you ask?  Well, how did we get here in the first place?  The media!  Yes, marketing is the key!  I opened the Wall Street Journal that morning at the breakfast table and what did I read?  Foreclosure this, bank owned that, scandal in the mortgage industry, blah, blah.  What I didn't read was, housing prices have dropped, interest rates are low, now is a great time to buy.  If we can't convince ourselves and the public that it's okay to invest, our market will stay stagnate.  If you want a positive change, you have to make a positive change; you have to live that positive change. 

We have so many resources right at our fingertips.  We have the internet, the #1 marketing system in the world.  Use it to your advantage.  Sell yourself, sell your properties.  Use the newspaper, yes, people still read the newspaper every morning.  Advertise in pamphlets, put out signs, use audio, video, whatever works.  We are in the age of technology and communication and most of the marketing systems are free!  Take advantage of what the world offers you and don't give up.  Don't pitter patter with war stories about how the market is bad, stay away from people that offer that perception.  Make a difference.  Make a change.  Let's market!

Please click on the link below for more information. 

http://evenyoucanownahome.com/property.cfm?property_id=17267

By Jamie Edwards

Do any of your leads come from outside your marketing plan.

My marketing plan is to let the whole world know what I do.
That way I get leads from all over the country from people who I have met and know what I do.
I never focus on just one thing. I will work on any deal if it makes sense.

What is the best piece of advice you can give someone new?

Find out what you do best and stay with it. Do not give up even when the tough get going.
Do not leave your current job until you start cashing checks. Get a mentor or coach of some sort.
Just make sure you do your due diligence on them just like you do your properties.

What are some pitfalls to avoid?

Again, if you are currently working, do not quit until you have cashed a check or two.
Stay away from the negative talkers (this business doesn’t work).
Find and surround yourself with people who are cashing checks and doing deals.
Pick their brain and get as much education as you can from the successful investors.
Stay away from people who keep saying when they get it figured out they will do their first deal.

What is your mental mindset when you are looking for a deal?

First and foremost I want to know what the seller needs and will it be a “win win” deal for all the parties involved.
I like to make no less than $30,000.00 on any deal I do and I like to have at least 3 exit strategies to create the income I am looking for.

How did you find the resources available to make your first deal?

I got a referral from a friend and that gave me my first deal. I negotiated a “subject-to” which meant no money out of pocket and I got the deed. With a tenant already in place that was paying the mortgage payment (slow but paying), eventually I evicted the tenant and sold the house for a profit approx $43,000.00.

Did you take a lot of classes, or read a lot of books, or attend a lot of seminars to build your confidence to make your first deal?How did you build your confidence? Did you have a mentor?

I have spent over $170,000.00 to date on training, boot camps and classes. I believe you have to be taught something you don’t know. I have read a few books along the way. That is actually how I got started, by reading a few of Robert Allen’s books back in the early 80’s. My first deal I just negotiated my way through by making offers and counter offers until we agreed. Did I know exactly what I was doing? NO!! I knew I wasn’t going to jail and that the seller wasn’t going to yell at me so what did I have to lose. I had a few conversations with the seller and we came to a meeting of the minds. We then put the outcome on paper and I had my first deal. I truly believe that even if you have been to boot camps you still need training or a mentor. I personally just hired a mentor to take me through the year 2007.

What do you think are the best characteristics of a successful investor?

To have a passion for what you are doing and not just for the money. To have dreams, goals, persistence, integrity, honesty and to show compassion to others in their time of need. If you have all those characteristics you will go far in this business.

After all of Hunter has shared with us, there is no reason why you couldn’t succeed. I can tell you that his background story, where he came from to where you see him now is much more challenging than the space would allow. After interviewing a lot of investors, this man has proved to himself and this writer that YOU can make it if YOU really want to. Besides who wants a job? Happy Investing and Profiting.

By Jamie Edwards

This month we are going to talk with an investor who has contributed a great deal to CFRI and has proved himself as one of the most successful investors in central Florida, Hunter Paschall. He is an investor, a teacher and resource for all of us to learn from. After interviewing Hunter, I thought it would be best to meet him in person, and after our brief time together, I have discovered you are never too old or young to start and that you can overcome ALL obstacles if you want to.

What’s your story; tell me abut yourself…how did you get started? Was there a moment in time that you made a decision to do something different? And why real estate?

I always liked the art of buying something and selling it for a profit. All my life I considered this an art form because I use my imagination to create something from nothing. Since I got started in real estate I have never second guessed this career move. I knew this is where I wanted to be. I challenge myself on a daily basis to do the next best deal, be it creative or having a payday being bigger than my highest deal to date.

What is the most money you made, and how did you do it? I have made $310,000.00 on just one deal from start to finish.

It was a residential home. I was given a free house from the seller. He had bought it through another investor and found himself holding a lot of debt on a house that was not returning any cash flow. I contacted him through persistence and did my due diligence and it paid off. I negotiated the debt owed on the house from the bank (short sale). I then marketed the home and sold it to another investor below market value. The numbers looked like this. Old debt owed on the house, $980,000.00 (1st & 2nd Mortgages). I got a discount in the amount of $646,000.00 for both mortgages. I sold the house after I spent $1500.00 for clean up for 1.1 million (the new appraised price).

What is the most money you lost, and what would you have done differently?

I have never lost on any deal and I have bought and sold over 125 houses now. The only money I have lost is on the houses that I have controlled and the bank did not want to sell it to me after I provided them with the value. I know this year I spent about $1500.00 on putting a deal together and the bank declined it. I am still working on that deal with the bank. The upside is that if they would have accepted my offer I had the potential to make a minimum of $500,000.00 on that deal. We are talking about a 4.5 million dollar house. So as far as buying and selling, I have never lost on one. Sometimes the cost of doing business is a little higher on some than others, but I am willing to risk $1500.00 for $500,000.00 profit any day of the week.

Based upon your experience, where do you see the most growth, and why?

There are a few ways I look at this. For me the first growth is from learning from a mentor or a coach that has been where I am and became successful. When I started I did not have much money lying around. But for me to take what little I had and spend it on someone’s idea of training or coaching was like being reborn. It started giving me the belief of what could happen. The 2nd part to this is to take what you have been taught and apply it in the real world. What I mean is to start marketing and talking to sellers. Walk through the initial fear that is in front of you. You know just stretch your risk muscle. Make offers and get the contract completed. I have made many mistakes in this business and I have learned from each and every one of them. I would like to say that I have not repeated them but sometimes I think it will come out different and learn the same lesson again.
I see the most growth from playing all out and going for it. Remember that $310,000.00 deal I talked to you about. The 1st buyer I had on the deal backed out 4 days before I was to fund the $646,000.00. I could have freaked out and just backed out myself but I freaked in! That is I pulled it all together and raised the $646,000.00 in just 4 days and funded the deal. Now I owned my first million dollar home. That is growth. Everything I went through just gave me more strength and confidence. I sold the home 30 days later and made more money than I was going to make with the original buyer. I believe in risk and without risk there will be no growth. No change, no gain. To grow is to change from the sameness that you are and become something different.

What marketing do you use, and what do you think are the best and worst marketing for leads for you?

I use all types of marketing from car signs, cards, pens, letters, zip code mailings, postcards, ads in the newspaper, mailing to a foreclosure list, etc… I do not think the worst if something is not pulling, I just switch it up. This business is always changing and so is the marketing and what works. I will say, if you are not marketing at all then you have no business. Marketing is the key to this people to people business. The best marketing is being at the right place at the right time. Word of mouth has brought me some of my best deals. People just knowing what I do. I always pass out a card to anyone I meet, dinner, lunch, meetings, etc… I am a walking billboard of sorts.

This has been a great time of learning from someone who has not just read about what to do, but has done it. I listen to people who have done it, not those who have never done anything in our business and are so quick to spout off, what to do.

This is another part of our vacation that we cared to share with our following for the mindset of Hope. This is "Helping Other People Enjoy". Golfing in Georgia!

Wishing everyone a fantastic day Hunter

10.
You get more square footage for your money and that means a larger house for less.
9.
Down payment assistance – Sellers are willing to help with closing costs which helps the buyer bring less to the table.
8.
Buyers are not looking right now because they don’t think they can get a great deal which gives you more to choose from.
7.
Banks are begging for consumers to get loans because they are not closing enough deals right now.
6.
The market has bottomed out which makes now the most opportune time to purchase before it starts going back up. You will capitalize on the appreciation when the values start to go back up and have great equity in no time.
5.
The majority of sellers are desperate to sell due to the current economy which makes negotiating a price you want to pay much easier.
4.
The holidays are coming up and history tells us that the real estate business slows down even more during that time. Buyers are pre-occupied with other things and sellers more than ever need money. It is a win win time to buy!!
3.
The current inventory and days on market are at an all time high giving you more homes to choose from as well as sellers who are more than likely getting desperate.
2.
It’s the perfect market for first time buyers to get the best pricing and incentives possible.
1.
And number one reason to buy now… Mortgage rates plunged after the Fannie and Freddie bailout.

Click Here for more information about Buying A Home

Click Here for more information if you are in Foreclosure

 

Debbie and I visited the Vanderbilt Home "The Biltmore" as part of our vacation in North Carolina.



It is a French Renaisance chateau near Asheville built by George Washington Vanderbilt 1888-1895. This is the largest privately owned home in the US with 175,000 square feet and 255 rooms.

The Vanderbilt's descendants still own this home and today it stands as one of the most prominent examples of the Gilded Age. In 2007 it was ranked 8th on the list of America's Favorite Architecture by the American by the American Institute of Architects.

Visitors from all over the world continue to marvel at the 70,000 gallon indoor swimming pool, bowling alley, turn-of-the-century exercise equipment, two-story library, and other rooms filled with artworks, furniture and 19th-century novelties such as elevators, forced-air heating, centrally-controlled clocks, fire alarms and an intercom system. It remains a major tourist attraction in western North Carolina, with more than 1 million visitors each year. Unfortunetly you can not take pictures inside the home.

Hunter Paschall

HP Investment Group, Inc.

Call Today -407-834-1325

Fax - 407-386-7616

hunter@hpinvestment.com

Save or Sell Your Home - 1-888-471-9495

Bring your tackle box and come hear the local experts teach the art of fishing and hooking that great deal!! They will start with the basics of which bait to use. They will then show how to cast your line out, how to hook your deal & reel it in and what to do with it once you have it in your possession.

Hunter Paschall has been fishing the sea of foreclosures right here in your own backyard for well over 6 years and has a tackle box full of valuable information that has helped him cash in on deals from $15,000.00 to $310,000.00.

Since Hunter Paschall and Kimberlee Frank became partners in July of 2006, they have acquired $16,000,000.00 dollars worth of property with the help of their apprentice students. Let me say that again, 16 million dollars worth of property. They have closed on hundreds of thousands of dollars of properties in the Florida market.

They now want to share their wealth of information and knowledge with you.

“Motivated sellers” are the key to being successful in real estate. If you do not have a motivated seller, then you do not have a deal. You cannot make a homeowner motivated. Only time and circumstances will change the homeowner into a motivated seller. It is so hard for the average person to believe that someone would give away his or her house. The reason people have a hard time believing homeowners would give their house away is because they would not do it. Remember, just because someone is in foreclosure does not mean that they are motivated. In fact, most people are not motivated and are in denial. They believe that their “knight in shining armor” is going to ride in and save them from foreclosure. Many individuals that are in foreclosure want to stay in their home but cannot afford too. Most will stay in their home until the sheriff comes to throw them out. Other homeowners once they are served with court papers just disappear not knowing what other options they have. To be successful in real estate, you need to be a good listener and learn to ask all the right questions. You need to educate the homeowners on the options they have while in foreclosure after you have discussed all their options with them, you need to explain how you can help them solve their situation.

“Dealing with the mortgage companies” is not the easiest thing to do. Many homeowners get tired of talking with the representatives from the mortgage companies. The key to dealing with mortgage companies is knowing that there are many departments: customer service, workout department (used for forbearances & modifications), collections, and loss mitigation (used for short sales). Each department has their own duties and they do not know what is going on with the other departments. Homeowners frequently become frustrated when talking to the mortgage companies. They are transferred from one department to the next spending hours on the telephone talking to the wrong individuals. That is why most homeowners give up with working with the mortgage companies.

“Selling their house is another option”. Most homeowners owe as much or more than what the property is worth. Depending on the amount of equity in the home, you could purchase the property “subject-to” the underlying financing and bring the payments current. This is another article in itself. If you are unable to take the property “subject-to” then it is time to talk about a short sale. Remember we are here to help the homeowner. Sometimes a short sale is their only option.

What is a short sale - it is having the mortgage company take a discount for what is owed on the property.

If the mortgage company agrees to take less that what is owed, they could give the homeowner a deficiency judgment or a 1099. A deficiency judgment is for the difference in what is owed and what the mortgage company agreed to accept as payment. We request that the mortgage company waive the deficiency judgment and accept the short sale as full pay and 99% of the time, the bank will agree.

1099 – This is a form that the mortgage company could send to the homeowner for the difference in what is owed and what the mortgage company agreed to accept as payment. The homeowner reports this amount as income and would be taxed on that amount. If the homeowner’s liabilities out weigh their assets, then their CPA can file the necessary form, which could release them from paying any taxes.

In every newspaper and on every news channel we are being bombarded with the flood of foreclosures and how it is only going to get worse. So obviously, this is the prime time to start your real estate endeavor. Not only will you benefit but the people you help save from foreclosure will too.

Happy Fishing.

Hunter Paschall
HP Investment Group, Inc.
Call Today -407-834-1325
Fax - 407-386-7616
hunter@hpinvestment.com
CashGroupLLC.com

Save or Sell Your Home - 1-888-471-9495