The Norris Group Blog

California Real Estate Headline Roundup

Posts Tagged ‘downturn’

77-TNG Radio – Scott Whaley 7-19-08

Friday, July 18th, 2008

 

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Scott Whaley

Real Wealth Investors

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Bruce Norris is joined by Real Wealth Expo president and REI Club supporter, Scott Whaley. Bruce and Scott discuss when Scott started in the business, the attitude of the investor when the Expo started, the change in attitude at events, the crowd and sophistication level change, what is working for investors in this market, short sales in the current market, being a professional in the investor world, psychology in the market, Scott’s involvement with the RTC in the last cycle, contrarian decision makers, current examples of capitulation, the value of not making a mistake, the length of the downturn, the lenders that waited and the ramifications they are now facing, why chasing the market is not a good idea, The Real Wealth Revolution project, the mental part of the investing business, why this business is not the same for everyone, hanging around people who are making this business work and who have a positive attitude, the investor being the speculator, people looking to blame, how this cycle mimics the last downturn, doing the right thing at the wrong time in the lender world, reigning in financing for people that could actually help the market, legislation that could change how investors work, politics in this market, realwealthonline.com, realwealthexpo.com. Scott will be writing in our next newsletter about upcoming legislation that could affect our industry.

Scott Whaley is President of the Real Wealth Family of Cos., acting Vice President of the National Real Estate Investors Association (National REIA), and the producer of the Real Wealth Mind Revolution program for superior personal performance and achievement.

For over 25 years, Scott Whaley has studied, implemented and coached others on the use of enhanced performance psychology tools. These tools include certifications as a trainer of NLP, Master Hypnotherapist and numerous other change focused systems. He was the first coach hired and helped design and implement the coaching program for the highest paid coach in the world, Anthony Robbins. He was promoted to the position of Master Coach for that organization within one year and is an authority on the Science of Achievement and Peak Performance. Scott has an extensive 14 year background in real estate from land development, owning his own investment and brokerage firm and mortgage loan officer as well as working as an asset manager for the RTC (Resolution Trust Corporation-the cleanup for the failed S&L Bubble).

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http://www.thenorrisgroup.com/

68-TNG Radio – Bill Gatten 5-17-08

Friday, May 16th, 2008

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Bill Gatten

Creative Financing Educator, Investor, and Author for North America Realty Services, Inc.

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Bruce Norris is once again joined by investor, creative real practitioner and educator, and author, Bill Gatten. Bruce and Bill discuss investors who are new to a downturn and how they are currently reacting, what Bruce thinks the market might look like in 2010-2011, non-inclusive options, difference between an Illinois land trust and the Pac Land Trust, options of selling in non-traditional fashions, creative financing and different issues, due on sale clause, how the Pac Trust avoids the due on sale clause, Garn- St Germain act and the rules, percentage the beneficiary needs to retain for tax and insurance reasons, insurance in the land trust transaction, what is negotiated in the land trust transaction, what sellers typically want when they call off an ad, taxes with a land trust, running “I buy houses” ad in the current market, who are the people who make up those phone calls, profit centers when using the land trust, Bill Gatten working with builders in the current market, helping builders that have no other options, lenders that don’t understand the Pac Trust, how Bill deals with lenders that tries to implement the due on sale clause, and finally, landtrust.net .

Bill Gatten is a one of the few true “in-the-trenches” creative financing teachers who actually practice what they preach. A highly successful real estate investor and much sought-after national speaker, Bill’s most recent book (of many on the subject) is the very comprehensive, humorous and irreverent: “Making it BIG in Creative Real Estate and Keeping it…This Time,” a 500 page compendium of all aspects of seller-carry, no-down, no-credit-needed, no-payment creative real estate financing, featuring the dynamic “Equity Holding Land Trust(tm) System” — the PACTrust ™ and NEHTrust(tm).

Educated at the California Polytechnic State University, San Luis Obispo, Bill’s 45 years of work experience are in sales training, real estate investing and institutional banking (former co-owner and founder, Westlake Bancorp; and the former president and CEO of Gatten Financial Services, Inc. and Markay Equipment Leasing, Inc., Thousand Oaks, Ca.).

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http://www.thenorrisgroup.com/

63-TNG Radio – Robert Friedman 4-12-08

Saturday, April 12th, 2008

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Robert Friedman

Co-founder and Chairman of NRP, REDC, and LandAuction.com

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Bruce Norris is joined by Co-founder and Chairman of National Recreational Properties, Real Estate Disposition Corporation (REDC), LandAuction.com, and author of Auction Revolution and soon to be released How to Make a Fortune at Real Estate Auctions, Robert Friedman. Bruce and Robert discuss how long Robert has been involved in auctions, how he got started, land auctions, the evolution of auctions in cycles past, terms for land auctions, land auctions in the coming years, if REDC can handle more volume, how the volume so far and the magnitude of the downturn was unexpected, how his company goes about buying land, underwriting title, current clients of REDC auctions, the different kinds of auctions, the type of auction REDC uses and why, why banks lean to a certain type of auction, introduction of buyers’ premium at auctions, where the profit center is now for auction companies, advantages of absolute auction if any, licensing for becoming an auctioneer, Robert’s new book, the amount of people it takes to pull off a great auction, how marketing has changed for auction companies, the Internet and real estate marketing, working with builders, early lessons in the industry, ballroom auctions versus other types and why Robert chooses ballroom, most active areas, benefits to having an established brand at auction, why auctions have never been accepted in booming markets, and the stigma with auctions in a down market.

Real estate visionary Rob Friedman is the co-founder and Chairman of National Recreational Properties, Real Estate Disposition Corporation (REDC) and LandAuction.com. Together these three companies comprise one of the largest real estate and auction businesses in the world. His real estate firms have sold tens of thousands of properties grossing billions of dollars, the majority through real estate auctions.

Since the age of 24, Rob has been investing in all types of real estate including land, residential and commercial. While his first love is land and land development, Mr. Friedman has multiple shopping centers in development and owns strip centers, automotive dealership locations, fast-food locations and numerous other types of properties across the country.

Mr. Friedman is the co-author of “Auction Revolution” and the soon to be published “How to Make a Fortune at Real Estate Auctions.”

In addition to his extraordinary success in Real Estate, Mr. Friedman was among the first to recognize the potential of the internet. He has numerous online ventures including Football.com and Basketball.com, two leading online sports entertainment and e-commerce websites. He also sits on the board of Big Brothers and Big Sisters of Orange County.

57-TNG Radio – Gary Watts 3-1-08

Friday, February 29th, 2008

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Gary Watts

Real Estate Economist

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Bruce Norris and economist Gary Watts of Impact Real Estate continue their conversation from last week. This week they discuss when this current real estate downturn began, what statistic told us we were headed into a downturn, if Southern California is different from the rest of California, what percentage of the market was second home purchases, what has changed in the lending industry, the Federal Reserve and why they waited so long to do anything about the lending troubles, the new rules of being a lender, how certain minority groups stand to be hit hardest and how it happened, Bruce and Gary’s differing opinion on affordability, resets in 2008, lenders stalling on resets, if banks can truly be proactive and what choices they have in dealing with delinquent borrowers, due-on-sale clause, the media misleading the public on foreclosure rates, how the media’s lack of experience and understanding of the topics lead to bad reporting, press and its impact on real estate in an up market, consumers and attention paid to news articles, Orange County foreclosures, what cities are most affected, did builders overbuild in Orange County, how builders make mistakes, state-wide foreclosures and the never-before-seen sales ratio for Southern California, forecasting in 2008, why California wins migration, and how some areas in California are almost ready to cash flow.

Gary Watts has long been recognized as a forecasting expert by the real estate industry. His long-term analysis has also drawn the attention of the media due to his consistent accuracy. His Economic Outlook has been spotlighted in regional newspapers, including the Orange County Register and the Los Angeles Times. He has been seen on the PBS TV program Real Orange, he has been heard on the radio at KNX Money Talk and was featured in Fortune magazine. He holds a degree in economics with advanced studies in psychology from California State University at Sacramento. Gary’s economic forecast and lecture notes are among the information pieces most widely circulated by real estate agents in Orange County. Gary’s last speaking season drew over 17,000 real estate agents. His talks are also available in DVD and an English or Spanish CD format

55-TNG Radio – John Burns 2-16-08

Friday, February 15th, 2008

 

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John Burns

President, John Burns Real Estate Consulting

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Bruce Norris is joined this week by builder consultant and founder of John Burns Real Estate Consulting, John Burns. Bruce and John discuss how busy John has been consulting investors and builders who have never experienced a downturn, what industries these new investors are coming from and if it’s cyclical, if builders had a chance to do it over what they might choose to do differently, land shortages, debt strategies of builders, options versus cash, land value decrease in California, portfolio deals, supply of homes the builders are currently holding, construction starts, how lending has changed the game, who the typical buyer is in 2008, the possibility of builders constructing smaller homes, if the cities like that idea, why do builders repeat the same mistakes, are those in trouble the old or new companies, Northern versus Southern California market, affordability changes in the coming years, if affordability will help the housing market, if any of the FED actions will come to the rescue, how the freezing of foreclosure won’t change anything, how interest rates might help, the California employment picture for 2008 and its effect on housing demand, recession in California, migration, presidential elections and possible tax law changes, the state of the commercial industry, commercial foreclosures in 2008, and the new loan limits proposed by the FED.

Prior to founding the Company, John Burns was at KPMG Peat Marwick for 10 years, where he was a Senior Manager in the Real Estate Consulting group. He was also a Principal and Vice President for four years at a national consulting firm, where he completed custom consulting assignments and developed several market monitoring subscription products for the 75 largest housing markets in the United States.

John Burns is a frequent speaker, and has been quoted as an expert by CNN, ABC World News Tonight, The Wall Street Journal, The Associated Press, USA Today, Bloomberg, The Los Angeles Times, The Washington Post, Builder magazine, and others. He designed and authored a weekly e-mail received by more than 25,000 industry participants, and authored the U.S. Housing Markets publication. He also created and edited several highly successful market research subscription reports.

John has a M.B.A. from the University of California, Los Angeles and a B.A. in economics from Stanford University. He is also a Certified Public Accountant. He is a full member of the Urban Land Institute and a board member of the Building Industry Association.

40-TNG Radio – Mike Cantu 11-3-07

Friday, November 2nd, 2007

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Mike Cantu

Expert California Investor

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Bruce is joined once again my Mike Cantu. In this interview, Mike talks about his plans for this cycle, how people without great wealth can participate in this cycle, why attitude is everything, working with Realtors, Mike’s criteria for properties, favorite target rentals, auctions, his long-term strategy, rentals in a down market, and how Mike does not use property managers.

Mike Cantu is undoubtedly one of Southern California’s best real estate investors and a long-time friend of The Norris Group. Mike Cantu, 46 years old, has been a full time Real Estate Investor for over 25 years. This is round three of a down market for him. Mike runs a Buy/Sell operation, wholesales, and manages a rental property portfolio.

39-TNG Radio – Mike Cantu 10-27-07

Friday, October 26th, 2007

Mike-Cantu

Mike Cantu

Expert California Investor

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Bruce is joined by one of California’s most savvy and experienced real estate investors, Mike Cantu. Bruce and Mike talk about how Mike got started, how Mike survived the last downturn, how he learned the business, how tough times can show you what you’re really made of, how this downturn is different, what common problems he sees investors dealing with, what makes him go into un-own mode, where deals will come from in this market, and if holding has ultimately been more profitable in the long-term.

33-TNG Radio – Mike Ferry 9-15-07

Friday, September 14th, 2007

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Mike Ferry

President of The Mike Ferry Organization

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Bruce Norris continues his interview with one of the nation’s leading real estate agent trainers, Mike Ferry with the Mike Ferry Organization. Mike and Bruce discuss the parameters his coaches must achieve to become a coach with the Mike Ferry Organization, how coaching has changed in the last 60 days now that Realtors are listening, how buyers and sellers ultimately decide the price of houses, auctions, healthy real estate markets, and why its important for Realtors to own their own home.

Mike Ferry is the founder of the Mike Ferry Organization, North America’s leading Real Estate coaching and training organization. Mike has been involved in sales and management for more than forty years. During that time he has built an unmatched reputation for success on a foundation of hard work, dedication to his personal goals and 100% commitment to his customers.

Mike began his career with Nightingale-Conant where he was quickly promoted to the position of National Training Director responsible for the sales activities of 1,300 people. He then made the decision to move into the residential Real Estate field as a sales person. After a career of selling homes and earning the honor of being one of the top agents in the state, Mike decided the time was right to launch his own company. Four decades later, The Mike Ferry Organization is a $50,000,000 company with tens of thousands of clients.

Mike’s phenomenal natural ability to train and teach his unique techniques has helped hundreds of thousands of agents achieve and exceed their business and personal goals. The way he inspires all agents at all levels to produce at high levels and apply the rules of business to their Real Estate careers is legendary.

Mike has been repeatedly recognized by the National Association of Realtors® as one of the most influential people in the entire Real Estate profession, along with the President of the United States, the U.S. Congress, Alan Greenspan and Henry Silverman.

As the foremost expert on Real Estate sales techniques, training and motivation, Mike and his company lead dozens of seminars and retreats every year. Real Estate agents, mortgage professionals, title representatives and business executives have increased their production and profit because of the skills and mindset they learned through Mike Ferry. According to Mike, “The business is great because the results agents get from working with us are exceptional. Agents want to know how to sell more homes in less time and that is exactly what we teach them.”

32-TNG Radio – Mike Ferry 9-8-07

Saturday, September 8th, 2007

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Mike Ferry

President of The Mike Ferry Organization

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Bruce interviews one of the nation’s leading real estate agent trainers, Mike Ferry with the Mike Ferry Organization. The two discuss how Realtors have been caught off guard by the market change, how buyers have changed, how this downturn differs from the past, and how he was one of the first to warn Realtors this market was coming. Mike also shares why some of his clients are some of the most successful in the business. They’re business is actually getting busier now that the market has shifted.

Mike Ferry is the founder of the Mike Ferry Organization, North America’s leading Real Estate coaching and training organization. Mike has been involved in sales and management for more than forty years. During that time he has built an unmatched reputation for success on a foundation of hard work, dedication to his personal goals and 100% commitment to his customers.

Mike began his career with Nightingale-Conant where he was quickly promoted to the position of National Training Director responsible for the sales activities of 1,300 people. He then made the decision to move into the residential Real Estate field as a sales person. After a career of selling homes and earning the honor of being one of the top agents in the state, Mike decided the time was right to launch his own company. Four decades later, The Mike Ferry Organization is a $50,000,000 company with tens of thousands of clients.

Mike’s phenomenal natural ability to train and teach his unique techniques has helped hundreds of thousands of agents achieve and exceed their business and personal goals. The way he inspires all agents at all levels to produce at high levels and apply the rules of business to their Real Estate careers is legendary.

Mike has been repeatedly recognized by the National Association of Realtors® as one of the most influential people in the entire Real Estate profession, along with the President of the United States, the U.S. Congress, Alan Greenspan and Henry Silverman.

As the foremost expert on Real Estate sales techniques, training and motivation, Mike and his company lead dozens of seminars and retreats every year. Real Estate agents, mortgage professionals, title representatives and business executives have increased their production and profit because of the skills and mindset they learned through Mike Ferry. According to Mike, “The business is great because the results agents get from working with us are exceptional. Agents want to know how to sell more homes in less time and that is exactly what we teach them.”

03-TNG Radio – Andrea Jennings 2-17-07

Saturday, February 17th, 2007

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Andrea Jennings

REO Realtor

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Realtor, Andrea Jennings. Learn how Andrea and Bruce met and how they have been working together for the past several years. Andrea talks about the current market place and how she’s adjusting.