Stressed over Distressed Properties
Tuesday, November 13, 2012 from 9:00 AM to 1:15 PM (EST)
Stressed over Distressed Property
(3 Hours CE credit)
Tuesday, November 13, 2012
Stressed about Distressed Properties –
Learn guidelines, law, loans and renovations for short sale properties
The goal of this 3 hour CE class is for you to gain a full understanding of the process of getting a short sale approved by a lender and to understand the role and benefits of using a facilitator in a short sale as well as the fees and pitfalls associated with the transactions. This class will help you gain credibility with real estate investors and to increase your knowledge on the renovation lending process and lending programs available.
This course is taught by Michele Calloway-The Institute, Matt Dickason-Dickason Law Group, Peter Pasternack- Foundations Design, LLC and Brian Stephens-The "Renovation Loan Guy".
TOPICS INCLUDED IN THE CLASS
Short Sales Today
1. A look at Short Sales in Georgia
2. Short Sales in Today’s Market
3. Safe Act & Realtists/Realtors Responsibilities with Short Sale Client
4. Whois eligible for Short Sale
5. Starting the Short Sale process and what documents are required
6. Understanding the Lenders Short Sale process
7. Facilitators role and benefits of using a facilitator
8. Short Sale fees and who pays them
9. Pitfalls/examples of what not to do and what can go wrong
Working with Investors
1. Investor Strategies
a. Buy and hold vs. Flipping
2. Structural Considerations
a. Exterior integrity
b. Foundation Issues
c. Water damage
d. Interior integrity lead based paint
e. Mechanical system
3. Aesthetic Considerations
a. Architectural style
b. Exterior color scheme
c. Outdoor living space
d. Interior layout and features
4. Simple Repairs vs.Costly Repairs
Renovation Lending Programs
1. What is Renovation Financing?
2. How can Renovation Financing help the Short Sale process?
3. FHA 203(k) Streamline
4. FHA 203(k)
5. Fannie Mae Home Style
6. How to effectively market and sell Short Sales with Renovation Financing
7. Knowledge Check
Michele Calloway is the Director of The Institute for Community Pros fondly called "The INSTITUTE", a real estate training company in Atlanta, Georgia. She is an instructor for The Five Star Institute Short Sale Certification Training Program. Michele has been a national real estate educator and speaker since 1999 to Real Estate Professionals and Consumers. She develops and teaches market niche classes that instruct real estate professionals on "real world” applications for working Short Sales, BPOs, Managing, Selling and Financing Distressed Properties. Michele offers homeownership education to consumers.
Michele is the qualifying broker of a Community Centric real estate company in Atlanta, Georgia. Michele provides leadership with Foreclosure Prevention through her work with Pre-foreclosure/Short Sales and Home Sustainability Loan Modification. She has worked with and specialized in Distressed Properties for over a decade. As the President of United Developers Council of the National Association of Real Estate Brokers, Michele is committed to Community Revitalization. Michele is an active member of the Education Committee of a wide range of professional affiliations and associations.
Matthew A. Dickason is the firm's founder and Managing Attorney. In 2003, he received his J.D. from The Walter F. George Law School at Mercer University in Macon, GA. A member of the Georgia Bar, he created Dickason Law Group in 2007 to focus on residential, commercial and small business loan closings. As Chief Financial Officer of the U.S. Screen Company, a family manufacturing company based in Sullivan, Ohio, Matt draws on his experience to advise small to medium sized companies in all facets of business and corporate law.
In his spare time, Matt enjoys being a Dad.
Peter Pasternack graduated from the University of Georgia with an undergraduate and master's degree in accounting. He began his career at Price Waterhouse before moving to the banking industry where he gained over 20 years of experience. He's financed over 500 businesses and knows firsthand why some ventures succeed and many fall.
In 2005 Peter co-founded Foundations Design, LLC. The company designs, builds, and renovates residential and commercial property. Peter is responsible for the operational and financial aspects of Foundations Design as well as the long term growth of the company.
The initial success of Foundations Design and resulting media interest led to a leading role on one of television's most recognized real estate investment and home renovation shows, A&E's Flip This House. On the show, Mr. Pasternack is routinely seen integrating his business savvy with trademark enthusiasm. Peter has been called upon to offer his knowledge and experience to prospective entrepreneurs through local and national media outlets such as Alpharetta Magazine and Lang and Thomas Real Estate in addition to various speaking and radio engagements.
Peter has worked diligently for his many achievements and believes In passing on the information that has made him so successful. He is excited about sharing his knowledge and skills in making money and believes strongly In the entrepreneurial spirit.
Brian Stephens is known as 'THE Renovation Loan Guy". He is a subject mailer expert on Renovation Lending, and specializes in originating, structuring and closing Renovation Loan products such as the FHA 203K programs and the Fannie Mae HomeStyie Renovation Mortgage. In his over 12 years of mortgage origination experience, he closed over 1,200 transactions in excess of $270,000,000 in funded volume.
Brian successfully developed a Georgia state approved C.E. course titled "Sell the Good, the Bad, and the UGLY with the FHA 203K Program". With this course he donated over 1,000 hours of Continuing Education to real estate professionals in Georgia In 2011, and continues to donate his time and efforts to real estate professionals and Realtor Boards throughout Georgia.
Some of his Honors and Awards are: Mortgage Banker's Association of Georgia (MBAG) Gold Award Winner 2002·2011, Certified Renovation Home Loan Specialist and REO and HUD Home Specialist.
Brian is a graduate of Concordia College in St. Paul, Minnesota, and resides In Smyrna with his wife and 2 children.