ROL_2013-11-22_16k_Hr3-4.timecode

[00:00.000 --> 00:07.000]  This is the Liberty Beat, your daily source for Liberty news and activist updates.
[00:07.000 --> 00:09.000]  Online at thelibertybeat.com.
[00:09.000 --> 00:14.000]  I'm Brian Hagan with your Liberty Beat for Friday, November 8th, 2013.
[00:14.000 --> 00:17.000]  Gold opened today at $1,295.
[00:17.000 --> 00:20.000]  Silver opened at $21.48.
[00:20.000 --> 00:23.000]  And Bitcoin is trading at $291.
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[00:39.000 --> 00:42.000]  celebrating their 59th year of quality, compassionate pet care,
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[00:52.000 --> 00:57.000]  And now the news, more than $10 million each year.
[00:57.000 --> 01:02.000]  That's how much the CIA is paying AT&T for access to the company's phone records.
[01:02.000 --> 01:05.000]  A report published by the Washington Times Thursday
[01:05.000 --> 01:08.000]  says that while most of the calls are made overseas,
[01:08.000 --> 01:12.000]  some made to and from the United States are included with the collected data.
[01:12.000 --> 01:16.000]  The Times states that the company participation in the plot is volunteering.
[01:16.000 --> 01:22.000]  An Arkansas police officer is at the center of a lawsuit
[01:22.000 --> 01:26.000]  filed by a woman who claims she was tasered for refusing to show her breasts.
[01:26.000 --> 01:30.000]  The New York Daily News says Ashley Bennett claims that Officer Brandon Carter
[01:30.000 --> 01:34.000]  came to her workplace in uniform on December 11, 2011.
[01:34.000 --> 01:38.000]  It was then that he allegedly ordered her to let him look at her breasts.
[01:38.000 --> 01:41.000]  Bennett declined and claims she was chased around the building by Carter,
[01:41.000 --> 01:45.000]  who, when catching her, tased Bennett numerous times.
[01:45.000 --> 01:48.000]  She says it was not his first looted dance towards her.
[01:48.000 --> 01:51.000]  She's now suing Carter and the city of Haskell, Arkansas, in federal court.
[01:51.000 --> 01:57.000]  A new live videocast that will focus on solutions
[01:57.000 --> 02:02.000]  is set to launch on Thursday, November 14, 8 p.m. Central.
[02:02.000 --> 02:07.000]  The Conscious Resistance Live will be hosted by Houston-based community activist Derek Brose
[02:07.000 --> 02:12.000]  and place a strong emphasis on community members working on positive action.
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[02:16.000 --> 02:19.000]  as well as segments focusing on gardening, music, meditation,
[02:19.000 --> 02:22.000]  and ideas for creating change in your community.
[02:22.000 --> 02:26.000]  The debut episode will feature recently released activist Adam Kokash.
[02:26.000 --> 02:30.000]  The program can be found at theconsciencesresistance.com.
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[02:53.000 --> 02:57.000]  This is the Liberty Beat for Friday, November 8, 2013.
[02:57.000 --> 03:17.000]  Check out the website at thelibertybeat.com.
[03:17.000 --> 03:21.000]  Well I received my remedy today
[03:21.000 --> 03:25.000]  Came in a box just like they say
[03:25.000 --> 03:28.000]  I accepted it for value right away
[03:28.000 --> 03:31.000]  It's not through her, not later
[03:31.000 --> 03:38.000]  Okay, we are back. Randy Kelton and Deborah Stevens here with Bob Tierney.
[03:38.000 --> 03:42.000]  And we're going to Bailyn.
[03:42.000 --> 03:45.000]  Looks like you're on a Skype number.
[03:45.000 --> 03:49.000]  Hello Bailyn.
[03:49.000 --> 03:54.000]  Are you there Bailyn?
[03:54.000 --> 03:56.000]  Doesn't sound like it.
[03:56.000 --> 03:59.000]  Doesn't sound like it. We may have lost Bailyn.
[03:59.000 --> 04:01.000]  Okay.
[04:01.000 --> 04:03.000]  Call them back in Bailyn.
[04:03.000 --> 04:07.000]  Yeah, that's a 661 area code and that's generally what a Skype number shows up.
[04:07.000 --> 04:12.000]  Okay Bailyn, if you can hear us and then we can't hear you,
[04:12.000 --> 04:15.000]  you might try hanging up and calling back in.
[04:15.000 --> 04:17.000]  We will take your call.
[04:17.000 --> 04:19.000]  Okay.
[04:19.000 --> 04:29.000]  We don't have any more callers so I'd like to go back to the short sale issue.
[04:29.000 --> 04:40.000]  Approximately what percentage of the people that you deal with actually wind up getting the short sales?
[04:40.000 --> 04:48.000]  Is it a pretty common outcome that you actually get the short sale Bob?
[04:48.000 --> 04:51.000]  Well, it's definitely less than half.
[04:51.000 --> 04:59.000]  It's probably I would say 30 to 40% of the ones that we attempt to actually go through.
[04:59.000 --> 05:03.000]  And we've gotten better at it.
[05:03.000 --> 05:08.000]  Obviously we're more successful in getting them done.
[05:08.000 --> 05:14.000]  Some people's situations just don't lend themselves to being good short sale candidates
[05:14.000 --> 05:18.000]  or there's so many challenges that short sales aren't likely,
[05:18.000 --> 05:23.000]  so they're more likely to go to an attorney to fight the foreclosure.
[05:23.000 --> 05:33.000]  But yeah, I would say probably 30 to 40% of the people that we take on were successful in negotiating.
[05:33.000 --> 05:38.000]  Okay, you started out in the remodeling business.
[05:38.000 --> 05:49.000]  So when you do these short sales, do you also contract to do repairs to bring the property up to specs
[05:49.000 --> 05:51.000]  or do you just turn the property over?
[05:51.000 --> 05:52.000]  No.
[05:52.000 --> 06:01.000]  Well, my specific business is I use the short sale process as my imposition strategy to acquire the properties.
[06:01.000 --> 06:06.000]  And so I like to buy properties and fix them up to resell, so we do fix and blips.
[06:06.000 --> 06:14.000]  And I also buy properties to buy and hold as rentals, either for myself or for other investors.
[06:14.000 --> 06:20.000]  And so we like deals that the houses need, need work.
[06:20.000 --> 06:22.000]  They're more likely to be negotiated.
[06:22.000 --> 06:27.000]  It's easier for us to get the banks to agree.
[06:27.000 --> 06:36.000]  Okay, can you give out your email so that if anybody's interested in talking about the possibility of a short sale,
[06:36.000 --> 06:40.000]  they can get a hold of you and examine their options?
[06:40.000 --> 06:50.000]  Now, as I understand, you primarily work in Illinois, but you also have people elsewhere?
[06:50.000 --> 06:58.000]  We actually, today, I mean, this has been years in the making, we own an online real estate investment education
[06:58.000 --> 07:07.000]  training school that provides extensive training to people that would like to learn how to become short sale negotiators,
[07:07.000 --> 07:14.000]  how to acquire properties, how to do fix and flips and buy rentals.
[07:14.000 --> 07:17.000]  I guess necessity is the mother of invention.
[07:17.000 --> 07:24.000]  When I wanted to learn how to buy properties and because of what was going on in the marketplace with all the foreclosures,
[07:24.000 --> 07:30.000]  I had to learn how to negotiate short sales just because that's what we're dealing with right now.
[07:30.000 --> 07:37.000]  And so I'm one of the mentors in the program that teaches people how to become successful investors
[07:37.000 --> 07:41.000]  and we also do real estate investing with our business.
[07:41.000 --> 07:46.000]  So it's kind of two businesses that we're in.
[07:46.000 --> 07:51.000]  There's probably three or four thousand people now in our community across the nation.
[07:51.000 --> 08:00.000]  We have students in 20 different states and we do weekly online study groups and discussions about these processes
[08:00.000 --> 08:03.000]  to teach people how to be successful investors.
[08:03.000 --> 08:06.000]  Go ahead.
[08:06.000 --> 08:16.000]  I'm looking at the, you gave me a link to the courses on this website and I'm looking at the list of titles
[08:16.000 --> 08:21.000]  and frankly some of them are really pretty interesting.
[08:21.000 --> 08:26.000]  And I'm looking, the one I'm most interested in is real estate one on one.
[08:26.000 --> 08:31.000]  I have, I've been all this time helping people stop foreclosure.
[08:31.000 --> 08:43.000]  But one of the things that all of the research that I've done has taught me is always go back to the basics.
[08:43.000 --> 08:46.000]  Get the basics down really, really strong.
[08:46.000 --> 08:54.000]  Can you kind of give us a synopsis of what you cover in real estate one on one?
[08:54.000 --> 09:03.000]  Well, as an investor there's acquisition strategies, so short sale is just one of many acquisition strategies.
[09:03.000 --> 09:06.000]  Probate would be another.
[09:06.000 --> 09:12.000]  A foreclosure situation where there doesn't need to be a short sale negotiated would be a third.
[09:12.000 --> 09:17.000]  An REO, real estate owned property, something that's already been foreclosed upon and now owned by a bank.
[09:17.000 --> 09:20.000]  Buying a property at auction would be another.
[09:20.000 --> 09:23.000]  And so there's many different acquisition strategies.
[09:23.000 --> 09:30.000]  So in real estate one on one we define and educate people on the various ways that they would acquire properties.
[09:30.000 --> 09:37.000]  The second step of being a successful investor is financing or funding those deals.
[09:37.000 --> 09:44.000]  Most people don't qualify to get a mortgage to buy an investment property, so they need to learn how to raise the capital.
[09:44.000 --> 09:51.000]  So different private and hard money lending strategies, raising capital using self-directed IRA and 401Ks.
[09:51.000 --> 09:58.000]  Many people don't know they can use their retirement plans or other people's retirement plans to invest in real estate.
[09:58.000 --> 10:05.000]  There's some legal and tax strategies around real estate investment that people need to understand,
[10:05.000 --> 10:08.000]  so those are covered in our basic classes.
[10:08.000 --> 10:12.000]  So many different ways to fund and hold properties.
[10:12.000 --> 10:15.000]  And then the third aspect of being a successful investor is the exit.
[10:15.000 --> 10:17.000]  What is your exit strategy?
[10:17.000 --> 10:21.000]  So what am I going to do with the property once I've acquired it?
[10:21.000 --> 10:22.000]  I mean they're going to sell it.
[10:22.000 --> 10:24.000]  I could wholesale it.
[10:24.000 --> 10:26.000]  I could sell it on the retail market.
[10:26.000 --> 10:28.000]  I could sell it for sale by owner.
[10:28.000 --> 10:37.000]  I could lease option that property, so I could give somebody an option, a lease with an option to buy it from me in a couple years.
[10:37.000 --> 10:41.000]  I could add the property to my rental portfolio.
[10:41.000 --> 10:47.000]  So acquisition strategies, funding strategies, and exit strategies are the three things that we work on.
[10:47.000 --> 10:52.000]  And then when you're getting the higher levels of real estate investing, then when you're buying notes,
[10:52.000 --> 10:58.000]  seller finance notes, tax liens, tax deeds, you're raising capital to buy multiple properties.
[10:58.000 --> 11:05.000]  We did a credit placement memorandum or a PPM and raised $1.3 million to buy 59 houses.
[11:05.000 --> 11:07.000]  And we actually bought the notes.
[11:07.000 --> 11:12.000]  So we bought all 59 houses, we bought the notes in one deal, and those properties,
[11:12.000 --> 11:18.000]  then we raised the capital to buy them, fix them up, and those properties cash flow about $27,000 a month now.
[11:18.000 --> 11:23.000]  And so those are some of the higher level strategies of real estate investment, private place of memorandums,
[11:23.000 --> 11:29.000]  some of the higher level strategies that are used.
[11:29.000 --> 11:35.000]  So the program that we teach is really a comprehensive real estate training program
[11:35.000 --> 11:43.000]  that encompasses about 40 different strategies that are outlined in the basic three that I just covered.
[11:43.000 --> 11:49.000]  Man, you're giving me a headache trying to keep up with it.
[11:49.000 --> 11:54.000]  I'm looking down these titles and one of them really catches my eye.
[11:54.000 --> 11:58.000]  Real estate red flags.
[11:58.000 --> 12:03.000]  Can you just give us a brief on real estate red flags?
[12:03.000 --> 12:07.000]  Well, there's particular – first of all,
[12:07.000 --> 12:11.000]  there's a lot of scam artists out there in the world that are selling real estate and properties
[12:11.000 --> 12:17.000]  that take advantage of people's lack of knowledge or understanding about the market.
[12:17.000 --> 12:22.000]  And so we advocate people on what to look for in a contract,
[12:22.000 --> 12:28.000]  what is the exact process that a real estate deal should be structured inside of,
[12:28.000 --> 12:31.000]  what are some of the challenges, what are some of the mistakes people make,
[12:31.000 --> 12:35.000]  what are some of the things that could go wrong, and also how to protect yourself.
[12:35.000 --> 12:39.000]  What are the things that should be in your documents and in your contracts
[12:39.000 --> 12:42.000]  when you submit an offer so that you don't lose your earnest money
[12:42.000 --> 12:51.000]  or you don't even have to use earnest money or that – so that you can protect yourself.
[12:51.000 --> 12:53.000]  Just a basic one is this.
[12:53.000 --> 12:58.000]  If somebody goes to an auction and buys a property at auction,
[12:58.000 --> 13:03.000]  sometimes they'll – so say the auction price is $50,000,
[13:03.000 --> 13:06.000]  and they think the property is worth $100,000.
[13:06.000 --> 13:08.000]  And they're like, wow, this is great.
[13:08.000 --> 13:13.000]  And they buy the property for $50,000 at the auction.
[13:13.000 --> 13:19.000]  Come to find out, after they bought the property, they didn't buy the first mortgage.
[13:19.000 --> 13:21.000]  They actually bought the second mortgage.
[13:21.000 --> 13:23.000]  And the first mortgage is $100,000.
[13:23.000 --> 13:26.000]  So they just paid $50,000.
[13:26.000 --> 13:28.000]  They paid the second mortgage company,
[13:28.000 --> 13:33.000]  but now the first mortgage company comes to them and says, okay, well, now you owe us $100,000.
[13:33.000 --> 13:35.000]  So that's a real estate red flag.
[13:35.000 --> 13:36.000]  That's a problem.
[13:36.000 --> 13:40.000]  That's something that can happen without due process or due diligence.
[13:40.000 --> 13:45.000]  And so the real estate red flag classes are about what is due diligence?
[13:45.000 --> 13:50.000]  What is due process when you are going to purchase a real estate investment?
[13:50.000 --> 13:53.000]  What are some of the things that you need to understand and look out for
[13:53.000 --> 13:56.000]  so that you don't end up making a mistake like that?
[13:56.000 --> 14:04.000]  I would think that the first thing you'd want to do is go look in the public record.
[14:04.000 --> 14:15.000]  I was recently in a case where someone signed their warranty deed over to me.
[14:15.000 --> 14:18.000]  And I went into the eviction hearing.
[14:18.000 --> 14:21.000]  I had a person renting the property.
[14:21.000 --> 14:29.000]  And I filed a challenge to subject matter jurisdiction because in the public record,
[14:29.000 --> 14:33.000]  there was a deed of trust from Washington Mutual.
[14:33.000 --> 14:37.000]  Then there was my warranty deed.
[14:37.000 --> 14:45.000]  Then there was an appointment of substitute trustee by JPMorgan Chase.
[14:45.000 --> 14:53.000]  Well, that is a real big problem because Washington Mutual never transferred
[14:53.000 --> 14:58.000]  the property to JPMorgan Chase.
[14:58.000 --> 15:05.000]  And we have case law here in Texas that says that just because JPMorgan Chase
[15:05.000 --> 15:08.000]  bought all the assets of Washington Mutual,
[15:08.000 --> 15:14.000]  Washington Mutual still had to transfer the security instrument.
[15:14.000 --> 15:20.000]  The asset was the right to payment of the income stream.
[15:20.000 --> 15:23.000]  The deed of trust was not an asset.
[15:23.000 --> 15:29.000]  It was merely a documented alternative form of collection.
[15:29.000 --> 15:31.000]  So it had to be transferred and it wasn't.
[15:31.000 --> 15:42.000]  So we get in court and I told the judge that I had a warranty deed in the county record
[15:42.000 --> 15:45.000]  and these guys didn't have any claim.
[15:45.000 --> 15:50.000]  And the lawyer actually told the judge,
[15:50.000 --> 15:55.000]  well, Your Honor, my client buys a lot of properties.
[15:55.000 --> 16:03.000]  They don't have time to go down and go through the records on each one.
[16:03.000 --> 16:08.000]  I said, judge, did he really say that?
[16:08.000 --> 16:14.000]  And the judge looked at me and said, yeah, he really said that,
[16:14.000 --> 16:18.000]  that his client just paid $300,000 for this property
[16:18.000 --> 16:24.000]  and they wouldn't spend five minutes on the Internet looking in the public record.
[16:24.000 --> 16:27.000]  And the judge, the judge didn't want to say anything,
[16:27.000 --> 16:34.000]  but he looked at the lawyer like, you really got to be a moron.
[16:34.000 --> 16:40.000]  Okay, hang on, Randy Kelton, Deborah Stevens, Bob Tierney, Rule of Law Radio.
[16:40.000 --> 16:46.000]  Our call-in number, 512-646-1984.
[16:46.000 --> 16:49.000]  We're going to break, but we have the phone lines open.
[16:49.000 --> 16:51.000]  Frank, I see you there.
[16:51.000 --> 16:54.000]  We will pick you up on the other side.
[16:54.000 --> 16:57.000]  Give us a call, 512-646-1984.
[16:57.000 --> 17:00.000]  We'll be right back.
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[19:02.000 --> 19:13.000]  You are listening to the Logos Radio Network, lo-lo-lo-logosradionetwork.com.
[19:13.000 --> 19:18.000]  Don't let nothing get to you. Only the Father can't deliver you.
[19:18.000 --> 19:24.000]  Don't let bad-minded people hurt you. Until Satan gets behind you.
[19:24.000 --> 19:28.000]  Know what I mean, my friend?
[19:28.000 --> 19:52.000]  Come on, trust in God, my friend. Tell Him you're proud of Him, then. Call on His name once again. He will tell you none of your worries, then.
[19:52.000 --> 19:58.000]  He is my King, man. He is everything. He is everything to me. That's why I call Him.
[19:58.000 --> 20:04.000]  On top of me knee, and I pray to Him. Because He is the only one who could answer me.
[20:04.000 --> 20:09.000]  It's no business what the Kingman says. Man can, you know, easily lead me.
[20:09.000 --> 20:34.000]  Come on, trust in God, my friend. Tell Him you're proud of Him, then. Call on His name once again. He will tell you none of your worries, then.
[20:34.000 --> 20:40.000]  Okay, we are back. Randy Kelton, Deborah Stevens, here with Bob Tierney.
[20:40.000 --> 20:50.000]  And we have a caller I believe is going to be on point. Hello, Frankie. What do you have for us today?
[20:50.000 --> 21:00.000]  I had a question for your expert on short sales. I heard before that this goes to actually a question you asked in the beginning of the show
[21:00.000 --> 21:07.000]  on some of the motivating factors why a lender would accept a short sale.
[21:07.000 --> 21:16.000]  And the question is, I heard that the lenders are required to hold in escrow a certain amount,
[21:16.000 --> 21:24.000]  two to four to six times the loan amounts for any non-performing loans or foreclosures.
[21:24.000 --> 21:32.000]  I wanted to know if that's true and then also if it is, how that might affect these new housing recovery
[21:32.000 --> 21:38.000]  as the lenders are looking to start lending money again and, you know,
[21:38.000 --> 21:46.000]  tie it in with all of the foreclosures that we have and the shadow inventory.
[21:46.000 --> 21:53.000]  Hey, Frank, how are you? It's good to hear your voice. Can you hear me?
[21:53.000 --> 21:55.000]  Yes, I can. It's good to hear you.
[21:55.000 --> 22:07.000]  Okay. So as far as I understand it, the way that banks lend money is if they have a particular amount of money in the coffers, if you will,
[22:07.000 --> 22:17.000]  they can go to the Federal Reserve and borrow seven to ten times that amount and at the Fed rate, which is whatever it is, extremely low,
[22:17.000 --> 22:26.000]  and then they use that money to then lend out this fractional lending system that our country has been built on.
[22:26.000 --> 22:32.000]  And so when they have a non-performing asset or non-performing loan, right, to keep the banks from going bankrupt,
[22:32.000 --> 22:41.000]  the Federal Reserve or the Federal Government forces the bank to have to keep seven to ten times of that tied up in reserves.
[22:41.000 --> 22:43.000]  It's kind of the way they balance.
[22:43.000 --> 22:49.000]  So having these properties that are non-performing or when these notes are non-performing, right,
[22:49.000 --> 22:57.000]  it ties the bank's ability, right, it prevents the banks from being able to go to the Fed and lend and do what they do.
[22:57.000 --> 23:07.000]  And so that's one of the reasons why a bank is more likely to get the short sale negotiated and get this thing off the books,
[23:07.000 --> 23:15.000]  even if they have to take a discount under current market value of the property, then take a property through the foreclosure.
[23:15.000 --> 23:21.000]  The challenge for the banks is to have people that can negotiate these properly.
[23:21.000 --> 23:29.000]  And so, you know, the traditional way is to – for the homeowner to have this property listed with a real estate agent, right.
[23:29.000 --> 23:33.000]  Usually the agent will, you know, list the property for what's owed.
[23:33.000 --> 23:38.000]  And a lot of times, and many people have experienced that, that are listening to the show,
[23:38.000 --> 23:47.000]  is that the properties sit there on the market for six months, a year, and with no offers at all just because they're overpriced.
[23:47.000 --> 23:58.000]  And so it's important from the homeowner's perspective to have a team in place or people in place that can get the – that can get the deal done.
[23:58.000 --> 24:08.000]  They can get this thing negotiated and are successful in getting the bank to see – to agree to the short sale process.
[24:08.000 --> 24:17.000]  And so it really depends on who you're working with is if the short sale is going to be successful.
[24:17.000 --> 24:34.000]  Okay. And then the second question is how can we use some of the techniques that Randy talks about to – or do you think those can be applied to get a better result or increase our odds of getting a short sale?
[24:34.000 --> 24:37.000]  We've been talking about that over the breaks all night.
[24:37.000 --> 24:51.000]  Absolutely. And, you know, if we take on a client and – if I take on a client and they are a good short sale candidate,
[24:51.000 --> 25:03.000]  meaning that they owe $100,000 or dollars more than the property's worth right now, they're ready to give up.
[25:03.000 --> 25:10.000]  They're ready to say, you know what, I'm done. I'm willing to move. I want to give up the house, but I want to save my credit.
[25:10.000 --> 25:18.000]  Any way that I can go to that bank and say, listen, this is our offer. It's reasonable.
[25:18.000 --> 25:21.000]  We're not trying to steal the house from you.
[25:21.000 --> 25:27.000]  We're just trying to get the property bought at a reasonable enough discount to make it worth us as a business to be able to buy it.
[25:27.000 --> 25:37.000]  The property needs work. It needs $20,000, $30,000 in repairs, so it's going to have to have somebody buy it that has the wherewithal capacity to do that type of work.
[25:37.000 --> 25:50.000]  If I can have some additional reasons why the bank should accept our offer, meaning that, you know, there's some problems that we found with the mortgage.
[25:50.000 --> 25:57.000]  Right now, they're not an issue, but if you accept the short sale, then these issues go away for sure.
[25:57.000 --> 26:07.000]  If you don't accept the short sale, then it's possible that these issues may come to light.
[26:07.000 --> 26:10.000]  Come back to bite you in the behind.
[26:10.000 --> 26:17.000]  I didn't want to say that, but exactly.
[26:17.000 --> 26:35.000]  Yeah, that was we've been talking about how we can create the claims without backing the bank into a legal or a professional corner.
[26:35.000 --> 26:49.000]  What I'm hoping to be able to work out is something we can take to the legal department and say, you know, this is the train wreck you've got coming at you.
[26:49.000 --> 26:55.000]  We're well aware of the train wreck, but we can help you clean up that train wreck.
[26:55.000 --> 27:09.000]  Yeah, in my world, if the bank has a real buyer that's willing to buy the property, why not accept the short sale offer and get the problem behind us?
[27:09.000 --> 27:12.000]  The homeowner wins because they have their credit saved.
[27:12.000 --> 27:14.000]  They can move on with their life.
[27:14.000 --> 27:16.000]  The drama's over.
[27:16.000 --> 27:21.000]  An investor that knows what they're doing or somebody gets the property.
[27:21.000 --> 27:27.000]  It's surprising to me how difficult the short sale process is.
[27:27.000 --> 27:30.000]  It should be way easier than it is.
[27:30.000 --> 27:49.000]  And so I would love to be able to have an easier system so that real buyers like us who are looking to acquire these properties can submit an offer and, you know, get an approval within 30 to 60 days, set the closing, buy the property, and everybody wins and moves on.
[27:49.000 --> 27:54.000]  It doesn't make sense to me why these have to drag out for a year sometimes.
[27:54.000 --> 27:56.000]  Last question.
[27:56.000 --> 28:03.000]  I heard that, well, obviously you spoke about deficiency judgments in the short sale.
[28:03.000 --> 28:19.000]  And I wanted to know if you know anything regarding the IRS and if the homeowner is insolvent at the time of the short sale, if that can be eliminated through the IRS.
[28:19.000 --> 28:22.000]  It doesn't even require that the homeowner be insolvent.
[28:22.000 --> 28:28.000]  A lot of times the elimination of the deficiency judgment can be part of the negotiation process.
[28:28.000 --> 28:45.000]  So when I submit an offer to a bank, I let the bank know that in order for us to have our offer accepted, part of their agreement will be to not have a deficiency of judgment against the owner.
[28:45.000 --> 28:58.000]  Because, you know, I want the homeowner to win as much as they possibly can, especially if they've had challenges, they've lost, they're losing their home, somebody lost a job.
[28:58.000 --> 29:06.000]  So we really are consumer advocates in our business and, you know, we were trained to be that way in the training program that I'm a part of.
[29:06.000 --> 29:12.000]  You know, so in every case, we've been successful in negotiating that.
[29:12.000 --> 29:25.000]  So if you have a short sale negotiator that knows what they're doing, that's going to be part of it is to being able to negotiate that the homeowner does not have a deficiency judgment held against them.
[29:25.000 --> 29:27.000]  Excellent. Well, thank you.
[29:27.000 --> 29:31.000]  Join the show.
[29:31.000 --> 29:32.000]  Hello.
[29:32.000 --> 29:34.000]  Yeah, thank you.
[29:34.000 --> 29:38.000]  I guess Randy pushed his mute button and we'll hear the music in the background.
[29:38.000 --> 29:42.000]  Okay, I was thanking Frank.
[29:42.000 --> 29:43.000]  Okay, okay, okay.
[29:43.000 --> 29:44.000]  I'm sorry about that.
[29:44.000 --> 29:47.000]  Somebody keeps muting my mic when I'm not looking.
[29:47.000 --> 29:51.000]  This is Randy Kelton, Deborah Stevens here with Bob Tierney.
[29:51.000 --> 29:55.000]  Our call in number 512-646-1984.
[29:55.000 --> 29:56.000]  Give us a call.
[29:56.000 --> 29:59.000]  We'll be taking calls the rest of the night.
[29:59.000 --> 30:02.000]  We'll be right back.
[30:02.000 --> 30:06.000]  A homeless man steals a hundred bucks and a judge gives him a 15-year sentence.
[30:06.000 --> 30:10.000]  The next day, a CEO who swindled three billion gets just three years.
[30:10.000 --> 30:11.000]  What gives?
[30:11.000 --> 30:15.000]  I'm Dr. Catherine Albrecht, and I'll be right back with the details.
[30:15.000 --> 30:17.000]  Privacy is under attack.
[30:17.000 --> 30:20.000]  When you give up data about yourself, you'll never get it back again.
[30:20.000 --> 30:25.000]  And once your privacy is gone, you'll find your freedoms will start to vanish too.
[30:25.000 --> 30:30.000]  So protect your rights, say no to surveillance, and keep your information to yourself.
[30:30.000 --> 30:33.000]  Privacy, it's worth hanging on to.
[30:33.000 --> 30:36.000]  This public service announcement is brought to you by StartPage.com,
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[30:44.000 --> 30:48.000]  Two years ago in Louisiana, Roy Brown, a black homeless man,
[30:48.000 --> 30:50.000]  robbed a bank and made off with a hundred dollars.
[30:50.000 --> 30:54.000]  Remorseful, he surrendered to police the next day, returned the money,
[30:54.000 --> 30:57.000]  and pleaded guilty, saying his mama didn't raise him that way.
[30:57.000 --> 31:01.000]  The judge was unmoved and sentenced him to 15 years.
[31:01.000 --> 31:07.000]  Just one day later, a Virginia judge handed down a mere 40-month prison sentence to Paul Allen,
[31:07.000 --> 31:11.000]  a white investment tycoon who helped embezzle more than $3 billion.
[31:11.000 --> 31:16.000]  Paul Allen will be back on the golf course before Roy Brown is even up for parole.
[31:16.000 --> 31:18.000]  Could anything be more unfair?
[31:18.000 --> 31:23.000]  Obviously, discrimination is alive and well in our courts, and it's a crying shame.
[31:23.000 --> 31:30.000]  I'm Dr. Catherine Albrecht. More news and information at CatherineAlbrecht.com.
[31:30.000 --> 31:36.000]  This is Building 7, a 47-story skyscraper that fell on the afternoon of September 11.
[31:36.000 --> 31:38.000]  The government says that fire brought it down.
[31:38.000 --> 31:43.000]  However, 1,500 architects and engineers have concluded it was a controlled demolition.
[31:43.000 --> 31:46.000]  Over 6,000 of my fellow service members have given their lives.
[31:46.000 --> 31:49.000]  Thousands of my fellow first responders have died.
[31:49.000 --> 31:51.000]  I'm not a conspiracy theorist. I'm a structural engineer.
[31:51.000 --> 31:53.000]  I'm a New York City correction officer. I'm an Air Force pilot.
[31:53.000 --> 31:58.000]  I'm a father who lost his son. We're Americans, and we deserve the truth.
[31:58.000 --> 32:02.000]  Visit us at www.rememberbuilding7.org today.
[32:02.000 --> 32:06.000]  Rule of Law Radio is proud to offer the rule of law traffic seminar.
[32:06.000 --> 32:08.000]  In today's America, we live in an us-against-them society,
[32:08.000 --> 32:10.000]  and if we the people are ever going to have a free society,
[32:10.000 --> 32:13.000]  then we're going to have to stand and defend our own rights.
[32:13.000 --> 32:16.000]  Among those rights are the right to travel freely from place to place,
[32:16.000 --> 32:20.000]  the right to act in our own private capacity, and most importantly, the right to due process of law.
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[33:25.000 --> 33:32.000]  Okay, we are back.
[33:32.000 --> 33:39.000]  Randy Kelton, Debbie Stevens, Rule of Law Radio, here with our special guest Bob Tierney.
[33:39.000 --> 33:49.000]  And I'm looking at the brochure, the PDF for your training program.
[33:49.000 --> 33:57.360]  Next to the last one, I've just got to ask about this one, finding the deal of the decade
[33:57.360 --> 34:02.160]  every week.
[34:02.160 --> 34:08.440]  That is a class about marketing for profitable real estate deals.
[34:08.440 --> 34:14.320]  One of the challenges of being a new investor is not wasting time and really trying to focus
[34:14.320 --> 34:18.560]  on the deals that are going to be profitable.
[34:18.560 --> 34:27.520]  So I can have a rule of thumb in my fix-and-flit business, if I can't make $50,000 in profit
[34:27.520 --> 34:33.960]  on the deal, then it really isn't worth the time and effort and energy of doing it.
[34:33.960 --> 34:39.480]  So we want to get the math real quick, so we want to figure it out quickly if we have
[34:39.480 --> 34:40.480]  the capacity.
[34:40.480 --> 34:49.440]  I'll just give you an example, one of the real estate deals that we did, the property
[34:49.440 --> 34:55.280]  was sold for $184,000 and it went to the bank, it was an REO, Bank Owned House, and the bank
[34:55.280 --> 34:57.440]  wanted $98,000.
[34:57.440 --> 35:03.960]  And so we offered $19,000 and a justification of why.
[35:03.960 --> 35:07.440]  So a lot of times the banks will price the properties high or they'll try and find somebody
[35:07.440 --> 35:13.880]  to buy them and that are not educated, and so most of the time people overpay for properties
[35:13.880 --> 35:19.560]  because they just don't know how to negotiate them properly.
[35:19.560 --> 35:25.120]  After about, oh, it took me about four weeks to negotiate this property, we bought it for
[35:25.120 --> 35:26.120]  $395,000.
[35:26.120 --> 35:33.040]  Now before I agreed to buy it for $395,000, I needed to know what it would be worth if
[35:33.040 --> 35:34.800]  I repaired it.
[35:34.800 --> 35:39.800]  So we did an analysis and we figured out that it's ARV, or after repair value, was going
[35:39.800 --> 35:44.960]  to be somewhere between 160 and 170, somewhere in that area.
[35:44.960 --> 35:49.080]  I needed to know how much it was going to cost to repair, and I needed to know what
[35:49.080 --> 35:52.040]  my maximum buy price was.
[35:52.040 --> 35:59.000]  So we teach our students how to do the mathematics around the analysis so that they're only focusing
[35:59.000 --> 36:02.520]  on deals that they can make $50,000 or more on.
[36:02.520 --> 36:07.800]  It takes the same amount of time to buy a property, to fix it up, to get the permits,
[36:07.800 --> 36:12.640]  to run the job, to raise the capital, to make $30,000 as it does to make $80,000.
[36:12.640 --> 36:17.720]  It's the same process, but the profit is a lot different, and so that's what that particular
[36:17.720 --> 36:23.640]  class is about, is what does the marketing look like, how do we do the analysis, and
[36:23.640 --> 36:30.520]  how do we make sure that we make our minimum profits so that we have enough room.
[36:30.520 --> 36:32.720]  And that is a very good point.
[36:32.720 --> 36:42.560]  One of the things that I've noticed in doing evaluations of the records on properties,
[36:42.560 --> 36:51.080]  the kinds of problems I find with properties, I find with all of them, a $50,000 property,
[36:51.080 --> 36:59.360]  a $2 million property, that one is screwed up just as bad as the other.
[36:59.360 --> 37:04.440]  You know, in negotiating these properties and working with these properties, it doesn't
[37:04.440 --> 37:05.440]  make any difference.
[37:05.440 --> 37:11.320]  You know, most people would think that when you're dealing with a property worth a lot
[37:11.320 --> 37:16.320]  of money, people are a lot more careful.
[37:16.320 --> 37:20.240]  It seems the opposite.
[37:20.240 --> 37:27.080]  Seems the guy that buys the house for $70,000, he's struggling to be able to buy it, and
[37:27.080 --> 37:28.560]  he watches every penny.
[37:28.560 --> 37:37.000]  The guy that buys a $2 million house has got quite a bit of money, he's just not as careful.
[37:37.000 --> 37:43.680]  I found that absolutely astounding when I began to come across it.
[37:43.680 --> 37:53.960]  So if that is very well made, I might as well go after the bigger properties, the greater
[37:53.960 --> 37:59.640]  profits, I'm going to wind up with the same issues no matter which one I get to.
[37:59.640 --> 38:00.640]  That's right.
[38:00.640 --> 38:04.760]  Hey, Bob, can I ask you a question?
[38:04.760 --> 38:05.760]  Sure.
[38:05.760 --> 38:09.360]  If somebody was interested in taking your class and getting involved in that end of
[38:09.360 --> 38:13.840]  the business, what would be a minimum working capital or startup capital one could expect
[38:13.840 --> 38:17.160]  to need access to?
[38:17.160 --> 38:28.840]  Well, the beginning course that we offer is $2,000, it includes 10 classes of real estate
[38:28.840 --> 38:33.480]  investment and access to those classes for an entire year.
[38:33.480 --> 38:37.640]  One of the things I really like about what our company does is we actually give our students
[38:37.640 --> 38:43.160]  access to the training 24 hours a day, 7 days a week online, it's all recorded, so that
[38:43.160 --> 38:49.560]  they can repeat the classes because these concepts are foreign to a lot of people, a
[38:49.560 --> 38:54.200]  lot of people don't ever take classes like these and so a lot of real estate investment
[38:54.200 --> 39:00.080]  education in this country is sold via boot camps, it is very difficult to learn something
[39:00.080 --> 39:08.800]  when it's given to you in a fire hose fashion over a 3-day period.
[39:08.800 --> 39:13.160]  We allow our students to repeat the classes and then we do a live study group every single
[39:13.160 --> 39:19.960]  week online that the students that join the program can get their questions answered.
[39:19.960 --> 39:25.680]  We take these 10 days of classes and we break them into a 26-week study group and so every
[39:25.680 --> 39:30.920]  week, Thursday nights, we have a 2-hour study group where the students can come and ask
[39:30.920 --> 39:36.680]  questions and they get the chance to interact with people who have been through the classes,
[39:36.680 --> 39:43.600]  who's been successfully done deals and so we find our students over time are a lot more
[39:43.600 --> 39:49.280]  successful than the gurus or the boot camps, the people that try to learn online.
[39:49.280 --> 39:55.880]  We have about 70 people a week that come to our office live and in person and then another
[39:55.880 --> 40:03.640]  50 or 60 people that log in to our program online from across the country and so it's
[40:03.640 --> 40:05.640]  a very interesting program.
[40:05.640 --> 40:12.120]  It sounds very, very reasonable for the numbers that you were spitting out on the return earlier.
[40:12.120 --> 40:14.760]  That's very reasonable.
[40:14.760 --> 40:20.680]  There's plenty of real estate training programs that charge $2,000 for a 2-day workshop and
[40:20.680 --> 40:27.640]  people pay it all the time and my heart breaks because I know that it takes more than going
[40:27.640 --> 40:32.720]  to a 2-day seminar to be successful in anything, especially when you're talking about real
[40:32.720 --> 40:33.720]  estate investment.
[40:33.720 --> 40:42.080]  One of the things that I teach and this is Necessity, the mother of invention, so eight
[40:42.080 --> 40:44.880]  years ago my credit score was in the 500s.
[40:44.880 --> 40:47.240]  I didn't even know that it was possible to repair.
[40:47.240 --> 40:51.760]  I was a remodeling contractor and that was my life and when I got introduced to real
[40:51.760 --> 40:57.280]  estate investing all of a sudden I realized that if I could get my credit repaired I might
[40:57.280 --> 41:02.480]  be able to get some access to some capital and so I took some additional courses and
[41:02.480 --> 41:07.760]  seminars on building corporate credit and learned that I could build credit instead
[41:07.760 --> 41:12.840]  of an entity separate from my personal name that would allow me to start getting access
[41:12.840 --> 41:15.960]  to resources to do real estate deals.
[41:15.960 --> 41:23.280]  So today I am the corporate credit trainer for the company and I've actually been teaching
[41:23.280 --> 41:26.080]  classes on building corporate credit now for years.
[41:26.080 --> 41:31.200]  So I love the people that come to our group that are struggling around money, they really
[41:31.200 --> 41:35.640]  do confer an opportunity to change the quality of their life and we've got a program now
[41:35.640 --> 41:41.440]  especially in the last eight weeks, it's amazing, the banks are so flush with cash that we are
[41:41.440 --> 41:46.400]  getting money like we've never had, like we haven't since 2008.
[41:46.400 --> 41:58.440]  I can get somebody $30,000 on no income verification, stated income loan and that $30,000 will help
[41:58.440 --> 42:01.880]  them get their real estate investment business started.
[42:01.880 --> 42:06.800]  They have to have 680 credit in order to be able to be eligible for this particular program
[42:06.800 --> 42:12.040]  but if they don't have 680 credit they also can then help them get their credit repaired
[42:12.040 --> 42:14.720]  so they could be eligible.
[42:14.720 --> 42:20.960]  So in the last eight weeks I think across the nation we've gotten over $2 million in
[42:20.960 --> 42:26.040]  resources for people in our real estate investment community and that's just in the last eight
[42:26.040 --> 42:30.960]  weeks we're really excited about the new programs that we have to offer.
[42:30.960 --> 42:34.760]  That sounds great.
[42:34.760 --> 42:42.720]  Do you have any way of taking someone say who may have potential deals to bring to the
[42:42.720 --> 42:51.880]  table but doesn't have the funds, do you have any investors who will pick up those deals
[42:51.880 --> 42:58.240]  and help the person close the deals and then to get them some funding so they can get started?
[42:58.240 --> 43:01.920]  Do you have anything like that?
[43:01.920 --> 43:06.640]  We're always looking for real estate deals and there's a lot of people in our group.
[43:06.640 --> 43:18.480]  We have offices in Chicago, New York City, Fort Lauderdale, Phoenix, Salt Lake City,
[43:18.480 --> 43:24.200]  Los Angeles, those are our main office areas and we have students in a lot of other areas
[43:24.200 --> 43:26.000]  so it just depends.
[43:26.000 --> 43:32.320]  For me personally, I live in Chicago, if somebody had their deal in the Chicago area or Wisconsin
[43:32.320 --> 43:38.840]  which is within my range I could take care of it personally, if they're in another area
[43:38.840 --> 43:42.280]  I would refer those people to someone I know.
[43:42.280 --> 43:48.000]  So you do have people that would be glad to pick up deals if somebody can find them and
[43:48.000 --> 43:51.520]  maybe that's a way for somebody who's behind to kind of catch up.
[43:51.520 --> 43:58.400]  Hang on, this is Randy Kelton, Deborah Stevens, Wheel of Law Radio, I'll call it number 512-646-1984,
[43:58.400 --> 44:00.880]  we'll be right back.
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[45:39.520 --> 45:43.680]  principles and practices that control our American courts.
[45:43.680 --> 45:49.880]  You'll receive our audio classroom, video seminar, tutorials, forms for civil cases,
[45:49.880 --> 45:52.120]  pro se tactics and much more.
[45:52.120 --> 45:59.920]  Please visit RuleOfLawRadio.com and click on the banner or call toll free 866-LAW-EZ.
[45:59.920 --> 46:14.280]  Whoa, whoa, whoa, whoa, yeah.
[46:14.280 --> 46:33.480]  Always, I must be careful what I'm wishing for, when I'm hungry I like to know just what
[46:33.480 --> 46:42.000]  I'm fishing for, I ain't asking for much, I ain't trying to be no glutton, I'm just
[46:42.000 --> 46:54.560]  here making my living pushing buttons, I give my message out to anyone in the shot and distance.
[46:54.560 --> 47:01.080]  Okay, we are back, Randy Kelton, Debra Stevens here with our special guest Bob Tierney and
[47:01.080 --> 47:08.520]  in the last segment you were talking about being the corporate credit trainer.
[47:08.520 --> 47:17.560]  Can you kind of give me an idea of someone who's had bad credit, how we can set up a
[47:17.560 --> 47:23.600]  corporation and get credit on the corporation where our own personal bad credit doesn't
[47:23.600 --> 47:26.560]  necessarily interfere?
[47:26.560 --> 47:28.560]  Sure.
[47:28.560 --> 47:34.560]  Well, the first thing is, is businesses and corporations in the United States of America
[47:34.560 --> 47:44.600]  are governed, their credit worthiness is governed in a different system than our personal.
[47:44.600 --> 47:51.920]  So if a personal, our personal credit is governed by our FICO scores, Experian, Expec and TransUnion
[47:51.920 --> 47:56.360]  are the three major credit reporting companies in the United States and they are the ones
[47:56.360 --> 47:57.360]  that track our credit.
[47:57.360 --> 48:03.320]  We didn't ask for a record with them, it's just kind of, it's just kind of the situation
[48:03.320 --> 48:08.080]  that we are in in this country is they're the ones that monitor.
[48:08.080 --> 48:16.440]  And so if I'm going to start a company or if I want to create, if I want to have a corporation
[48:16.440 --> 48:20.440]  and if you're going to be a real estate investor and I believe in my heart that everybody should
[48:20.440 --> 48:25.760]  have a small based business, a small home based business, the tax advantages to having
[48:25.760 --> 48:29.840]  a home based business are second to none.
[48:29.840 --> 48:35.360]  And so one of the things that we teach for courses is how to set up a home based business.
[48:35.360 --> 48:39.680]  And you can be a consultant, in my case I do real estate investing, I own that business
[48:39.680 --> 48:47.080]  from my home and when you start up a corporation, you give birth to a brand new baby, it's kind
[48:47.080 --> 48:54.160]  of like giving birth to a new, an entity that has no past.
[48:54.160 --> 49:02.760]  And so when we do this, now we have something that has no past that we can build a reputation
[49:02.760 --> 49:03.760]  for.
[49:03.760 --> 49:12.160]  And so when you want to get credit instead of a corporation, a creditor is going to look
[49:12.160 --> 49:18.160]  at the credit record of that corporation and they use company, one of the companies they
[49:18.160 --> 49:20.960]  use is called Dun & Bradstreet.
[49:20.960 --> 49:25.320]  So Dun & Bradstreet is a huge corporation, it's a for profit corporation, they make billions
[49:25.320 --> 49:30.240]  of dollars by monitoring the credit records of corporations in the United States.
[49:30.240 --> 49:34.520]  They use a scoring system called paydex, right?
[49:34.520 --> 49:42.520]  And so a paydex ranges from zero to a hundred and an 80 paydex is considered a good paydex
[49:42.520 --> 49:45.400]  score inside of a corporation.
[49:45.400 --> 49:50.560]  When you first start a corporation, it doesn't have a paydex score because there is no, there's
[49:50.560 --> 49:55.640]  no past, there's no, there's nothing to base the record on.
[49:55.640 --> 50:00.040]  And so there will be insufficient data in a new corporation.
[50:00.040 --> 50:04.000]  And so if I want to build a corporation, I want to build a good reputation, there's some
[50:04.000 --> 50:11.440]  specific things that we need to do in order for a corporation to be ethical, right?
[50:11.440 --> 50:17.400]  And there's a lot of people that have used this strategy to be fraudulent, so I absolutely
[50:17.400 --> 50:23.720]  don't condone this strategy to defraud a bank, and there's actually people that go to jail
[50:23.720 --> 50:26.520]  for that, so we don't want to get into that area.
[50:26.520 --> 50:33.800]  However, you can ethically start a corporation, build a good Dun & Bradstreet record, right?
[50:33.800 --> 50:40.800]  Have credit relationships with organizations that do give credits to businesses, and build
[50:40.800 --> 50:43.120]  your paydex score to aid.
[50:43.120 --> 50:49.360]  And to achieve that, then you become eligible for credit lines.
[50:49.360 --> 50:53.760]  Home Depot has a commercial credit line, Menards has a commercial credit line, Lowe's has commercial
[50:53.760 --> 50:59.360]  credit lines, Staples, Dell Computers, there's many, many companies out there in the world
[50:59.360 --> 51:03.560]  that offer credit to corporations as long as they're, as long as it's legitimately.
[51:03.560 --> 51:09.840]  As a real estate investor, I want to have access to as many resources as I can, and
[51:09.840 --> 51:16.360]  I can have a $15,000 line of credit at Menards, Home Depot, and Lowe's, now I've got $45,000
[51:16.360 --> 51:22.280]  in access to resources to purchase materials for a fixed income that I would do.
[51:22.280 --> 51:26.120]  So when somebody is attempting to change their life or they want to start doing something
[51:26.120 --> 51:31.480]  new, they want to start real estate investing or anything like that, they can use this process
[51:31.480 --> 51:34.080]  in order to start getting access to capital.
[51:34.080 --> 51:37.920]  So that's one of the reasons that I started teaching this strategy in our real estate
[51:37.920 --> 51:44.680]  investment courses, because it's a very real, legitimate strategy for a new investor who
[51:44.680 --> 51:48.720]  is lacking the resources to get access to them.
[51:48.720 --> 51:53.880]  And so, you know, once somebody gets their corporation started and set up, and what's
[51:53.880 --> 51:54.880]  the timeframe?
[51:54.880 --> 51:59.600]  Well, if somebody has excellent personal credit, they can actually get corporate credit fairly
[51:59.600 --> 52:02.840]  easily, because they can leverage their personal credit to do that.
[52:02.840 --> 52:06.920]  If somebody has bad personal credit, then it's going to take a little bit longer to
[52:06.920 --> 52:11.720]  build the credit reputation inside of the corporation, but if somebody starts earning
[52:11.720 --> 52:16.680]  money, now they can, and their corporation starts earning money, they can use the money
[52:16.680 --> 52:20.880]  they earn to pay it themselves and then start to pay down their debt inside of their personal
[52:20.880 --> 52:21.880]  name.
[52:21.880 --> 52:27.280]  If somebody has credit challenges and judgments and late payments and stuff like that, then
[52:27.280 --> 52:36.040]  I will have, then I will recommend my clients go through a credit restoration process or
[52:36.040 --> 52:41.240]  credit repair process, and, you know, we make sure that we've had out reputable companies
[52:41.240 --> 52:45.800]  and, you know, one of the things I like about the companies that we deal with is they only
[52:45.800 --> 52:51.120]  charge the customer if they're successful in removing something from the bureau from
[52:51.120 --> 52:53.280]  the report.
[52:53.280 --> 53:00.200]  The goal as an investor, real estate investor, is to have a personal cycle score over 760,
[53:00.200 --> 53:06.840]  because 760 is the demarcation between the best rates that you can possibly get for mortgages
[53:06.840 --> 53:12.320]  and loans and credit cards and all those types of things versus paying more for your money
[53:12.320 --> 53:13.320]  than other people.
[53:13.320 --> 53:21.160]  And so, in our courses that we teach, we set a plan in place, you know, we find out where
[53:21.160 --> 53:25.360]  the customer is at, we help them get their corporation started and set up, we help them
[53:25.360 --> 53:29.960]  build this credit inside of their entity so that they can start having resources to be
[53:29.960 --> 53:30.960]  able to do deals.
[53:30.960 --> 53:35.680]  And at the same time, we are working on their personal credit so that we can get their personal
[53:35.680 --> 53:39.440]  credit score over 760.
[53:39.440 --> 53:44.960]  We've had customers that have gotten over $150,000 to $200,000 in corporate credit lines
[53:44.960 --> 53:50.600]  inside of their business to be able to use that to run their company, to have access
[53:50.600 --> 53:55.000]  to resources, and at the same time have been able to get their credit repaired so they
[53:55.000 --> 53:58.240]  can be offered the best rates.
[53:58.240 --> 54:03.960]  So that's one of the reasons that I decided to start studying and exploring this area
[54:03.960 --> 54:12.080]  because of the difference it makes for the customers.
[54:12.080 --> 54:24.680]  If I have, say, just fair credit, not bad but not good, how much time and what kind
[54:24.680 --> 54:31.040]  of money am I going to have to have available or be able to move around in order to get
[54:31.040 --> 54:35.960]  something set up so I can have some credit?
[54:35.960 --> 54:43.160]  Okay, well, if somebody said fair credit, and I would say 680 would be fair credit,
[54:43.160 --> 54:50.560]  you know, one of the reasons that we have a program that gets a person that 30 grand
[54:50.560 --> 54:56.960]  is so they can get started, starting a corporation in the United States, depending what state
[54:56.960 --> 55:02.360]  you're in, in my state it's about 600 bucks to have the accountant get a corporation filed
[55:02.360 --> 55:04.360]  proudly and do all the paperwork.
[55:04.360 --> 55:08.120]  You could actually do it on your own for a couple hundred dollars, and so it doesn't
[55:08.120 --> 55:09.120]  cost very much.
[55:09.120 --> 55:14.280]  When you start the process of starting to build business credit, you know, now your
[55:14.280 --> 55:21.480]  corporation is going out and making purchases, it's making, it's investing in, it might
[55:21.480 --> 55:26.680]  have to buy some furniture for your home office, you might need a computer, you might need
[55:26.680 --> 55:31.440]  a new camera because you need to take pictures of your homes, so depending on what business
[55:31.440 --> 55:35.240]  you're in is going to depend on what your business is going to buy.
[55:35.240 --> 55:41.040]  Now in order to be able to take tax deductions for a corporation, the only thing that meets
[55:41.040 --> 55:47.000]  the corporation legitimate is income, right, so you have to have some type of income coming
[55:47.000 --> 55:54.640]  into the company in order to be able to have a legitimate corporation, and so you can't
[55:54.640 --> 56:00.880]  just, you know, start a company, make up all these expenses, and then get access to all
[56:00.880 --> 56:06.880]  this credit and not have some type of business, so you know, you don't have to do real estate
[56:06.880 --> 56:12.680]  investing business, but you have to do some type of business that generates income.
[56:12.680 --> 56:19.880]  So I will usually tell somebody that they're going to want to set aside, you know, $1,500,
[56:19.880 --> 56:24.480]  a couple thousand dollars, this is going to make it a lot easier to get a corporation
[56:24.480 --> 56:29.800]  started and set up than doing it with nothing, all right, and so that's one of the reasons
[56:29.800 --> 56:34.880]  that we have a program that gets some people, that gets people the capital they need to
[56:34.880 --> 56:37.080]  get this process started.
[56:37.080 --> 56:44.040]  Okay, and that goes to something you mentioned earlier, that everybody should have some kind
[56:44.040 --> 56:45.720]  of business on the side.
[56:45.720 --> 56:54.560]  I once heard a tax specialist say, if you don't have your own business, you have no
[56:54.560 --> 56:57.280]  tax advantages.
[56:57.280 --> 56:59.280]  I couldn't agree more.
[56:59.280 --> 57:08.640]  If you have a business, you know, I've had my own business for 40 years, and I never
[57:08.640 --> 57:13.800]  have to pay taxes, and everything's legitimate.
[57:13.800 --> 57:22.440]  My businesses don't make enough to pay taxes because just about everything is deductible.
[57:22.440 --> 57:32.960]  I went down to Yuma last week and down in New Mexico, and it was a personal trip because
[57:32.960 --> 57:38.520]  I had to get some medical work done, but I did talk to the dentist down there about a
[57:38.520 --> 57:46.540]  friend of mine who has some equipment to sell and talked to them about them being interested
[57:46.540 --> 57:49.880]  in it, and they expressed interest.
[57:49.880 --> 57:54.800]  Whether they purchased or not, since I have my own business, and that can be a part of
[57:54.800 --> 58:00.160]  my business, the whole trip is deductible.
[58:00.160 --> 58:03.440]  With businesses, you get lots of deductions.
[58:03.440 --> 58:10.800]  You should not have to pay taxes, and that's the point of having your own business, is
[58:10.800 --> 58:17.200]  the tax system is set up to give you incentive to put your money back into business and not
[58:17.200 --> 58:24.720]  have to pay it all to the tax man so that you create more labor and more output so you
[58:24.720 --> 58:28.320]  increase the velocity of money so everybody is better.
[58:28.320 --> 58:33.320]  We'll get back to that when we get back on the other side, and how you, at the same time
[58:33.320 --> 58:39.800]  you're building your credit, you can get a lot of tax deductions.
[58:39.800 --> 58:44.520]  Randy Kelton, Deborah Stevens, Bob Tierney, Rue of La Radio.
[58:44.520 --> 58:50.480]  I call it number 512-646-1984, we'll be right back.
[58:50.480 --> 58:54.640]  Would you like to make more definite progress in your walk with God?
[58:54.640 --> 58:59.800]  Bibles for America is offering a free study Bible and a set of free Christian books that
[58:59.800 --> 59:01.160]  can really help.
[59:01.160 --> 59:05.600]  The New Testament Recovery Version is one of the most comprehensive study Bibles available
[59:05.600 --> 59:06.600]  today.
[59:06.600 --> 59:10.520]  It's an accurate translation, and it contains thousands of footnotes that will help you
[59:10.520 --> 59:13.640]  to know God and to know the meaning of life.
[59:13.640 --> 59:18.880]  The free books are a three-volume set called Basic Elements of the Christian Life.
[59:18.880 --> 59:23.160]  Chapter by chapter, Basic Elements of the Christian Life clearly presents God's plan
[59:23.160 --> 59:28.080]  of salvation, growing in Christ, and how to build up the Church.
[59:28.080 --> 59:33.080]  To order your free New Testament Recovery Version and Basic Elements of the Christian
[59:33.080 --> 59:45.880]  Life, call Bibles for America toll free at 888-551-0102, that's 888-551-0102, or visit
[59:45.880 --> 59:48.480]  us online at bfa.org.
[59:48.480 --> 01:00:03.480]  You're listening to the Logos Radio Network at logosradionetwork.com.
[01:00:03.480 --> 01:00:08.280]  This is the Liberty Beat, your daily source for Liberty news and activist updates.
[01:00:08.280 --> 01:00:10.040]  Online at thelibertybeat.com.
[01:00:10.040 --> 01:00:15.120]  I'm Brian Hagan with the Liberty Beat for Friday, November 22, 2013.
[01:00:15.120 --> 01:00:23.040]  Gold opens today at $1,246, silver at $19.97, and Bitcoin is trading at $720.
[01:00:23.040 --> 01:00:27.640]  Support for the Liberty Beat comes from shinybadges.com, supplying the Liberty Movement with lapel
[01:00:27.640 --> 01:00:32.280]  pins of their favorite anarchists and volunteer symbols, including the best-selling Badges
[01:00:32.280 --> 01:00:34.760]  Don't Grant Extra Rights Koplok badge.
[01:00:34.760 --> 01:00:37.960]  Check out the selection at shinybadges.com.
[01:00:37.960 --> 01:00:41.960]  Support also comes from the Center for Natural Living, hosting their first monthly meeting
[01:00:41.960 --> 01:00:46.680]  Saturday, November 23, from 4.30 to 7.30 at Brave New Books.
[01:00:46.680 --> 01:00:50.560]  The meeting will include a screening of episodes one through three of Sovereign Living, the
[01:00:50.560 --> 01:00:51.560]  reality show.
[01:00:51.560 --> 01:00:55.280]  There will be activities and snacks for the kids, so bring the family.
[01:00:55.280 --> 01:00:59.200]  For information, go to centerfornaturalliving.org.
[01:00:59.200 --> 01:01:03.920]  In the news today, yesterday, federal agents conducted the largest raid on Colorado marijuana
[01:01:03.920 --> 01:01:07.120]  businesses since medical marijuana became legal.
[01:01:07.120 --> 01:01:11.840]  The Denver Post reports that search and seizure warrants were executed at multiple dispensaries
[01:01:11.840 --> 01:01:15.960]  and cultivation facilities, along with two private residences.
[01:01:15.960 --> 01:01:19.560]  Federal officials will only say that one of eight federal concerns about marijuana have
[01:01:19.560 --> 01:01:22.440]  potentially been violated.
[01:01:22.440 --> 01:01:28.640]  Yesterday, a magistrate judge denied bail for Ross Ulbrich, the California man accused
[01:01:28.640 --> 01:01:32.320]  of being Dread Pirate Roberts of the Silk Road Marketplace.
[01:01:32.320 --> 01:01:37.200]  The prosecution in the case argued that Ulbrich has been running a massive online drug empire
[01:01:37.200 --> 01:01:40.800]  and paid $730,000 to try to kill six people.
[01:01:40.800 --> 01:01:48.600]  Ulbrich's family denies the claim and asserts that he is not a murderer.
[01:01:48.600 --> 01:01:53.600]  The campaign is known as Hoodie the Homeless, spearheaded by Bitcoins, not bombs, and is
[01:01:53.600 --> 01:01:56.840]  intended to provide warm sweatshirts for the homeless of San Francisco.
[01:01:56.840 --> 01:02:00.840]  There's a lot of charities that pass out food to people in need, but at this time of the
[01:02:00.840 --> 01:02:03.240]  year, what's needed more are warm clothes.
[01:02:03.240 --> 01:02:07.440]  That activist, Drew Phillips, who along with partner Davi Barker, are working to see the
[01:02:07.440 --> 01:02:08.440]  initiative grow.
[01:02:08.440 --> 01:02:11.520]  Everything is being done in Bitcoin, we're raising funds in Bitcoin, we're spending
[01:02:11.520 --> 01:02:16.320]  the Bitcoins with mass appeal specialties, a printer, buy a shirt or hoodie for yourself,
[01:02:16.320 --> 01:02:20.080]  and those are priced so that you're also paying for one hoodie for somebody in need.
[01:02:20.080 --> 01:02:28.320]  To take part in the campaign, go to bitcoin.bombs.com.
[01:02:28.320 --> 01:02:30.680]  Support for the Liberty Bean comes from Cabo Bob's.
[01:02:30.680 --> 01:02:34.880]  Check out their new location at 29th and Rio Grande between Guadalupe and Lamar.
[01:02:34.880 --> 01:02:41.680]  Give them a call, 512-432-1111, or find them online at cabobobs.com.
[01:02:41.680 --> 01:02:45.840]  Support also comes from Central Texas Gun Works, CHL courses, self-defense training,
[01:02:45.840 --> 01:02:52.480]  and firearm sales, online at centraltexasgunworks.com.
[01:02:52.480 --> 01:02:55.720]  This is the Liberty Bean for Friday, November 22nd.
[01:02:55.720 --> 01:03:05.400]  Be sure to check out the website at thelibertybean.com.
[01:03:05.400 --> 01:03:34.160]  This is the Liberty Bean for Friday, November 22nd, and Friday, November 22nd, and Friday,
[01:03:34.160 --> 01:03:57.000]  November 22nd, and Friday, November 22nd, and Friday, November 22nd, and Friday, November
[01:03:57.000 --> 01:04:16.920]  22nd, and Friday, November 22nd, and Friday, November 22nd, and Friday, November 22nd,
[01:04:16.920 --> 01:04:37.840]  and Friday, November 22nd, and Friday, November 22nd, and Friday, November 22nd, and Friday,
[01:04:37.840 --> 01:04:47.920]  I file taxes every year, we have a lot of people fighting taxes and fighting all kinds
[01:04:47.920 --> 01:04:48.920]  of other issues.
[01:04:48.920 --> 01:04:55.040]  I don't fight the tax man because I've got other fights that I personally believe need
[01:04:55.040 --> 01:04:59.200]  to be fought first, so I pick my battles real careful.
[01:04:59.200 --> 01:05:07.060]  I just file my taxes and don't ever have to pay any, except maybe a few bucks and one
[01:05:07.060 --> 01:05:11.920]  of the tricks if you ever have to pay taxes is pay them a little bit more than you're
[01:05:11.920 --> 01:05:17.360]  supposed to and they'll never audit you.
[01:05:17.360 --> 01:05:24.400]  This is what my tax guy told me, he said they see that you paid them too much, the last
[01:05:24.400 --> 01:05:29.600]  thing they want to do is audit you and have to give it back.
[01:05:29.600 --> 01:05:40.840]  We've got some really interesting tax strategy classes and one of them that I love the most
[01:05:40.840 --> 01:05:50.560]  is the self-directed IRA course because most people have an IRA or 401k with their company
[01:05:50.560 --> 01:05:57.160]  and don't realize that they could actually start a corporation from home and they could
[01:05:57.160 --> 01:06:06.080]  be funneling money into a self-directed Roth, 401k or IRA which then it could grow tax free.
[01:06:06.080 --> 01:06:09.560]  There's a lot of things that the average person doesn't know.
[01:06:09.560 --> 01:06:16.880]  I went to DePaul University, which is one of the top schools in the area and never heard
[01:06:16.880 --> 01:06:23.920]  a lot of the things that I deal with and learned in this program.
[01:06:23.920 --> 01:06:29.720]  I think the mainstream companies out there don't want the average person to know that
[01:06:29.720 --> 01:06:36.800]  they can self-direct a retirement plan or funnel money into a tax free structure so
[01:06:36.800 --> 01:06:39.560]  that they can do real estate.
[01:06:39.560 --> 01:06:46.920]  You can even fund an HSA, so a health savings account, many people don't know about these
[01:06:46.920 --> 01:06:52.960]  but you can funnel money tax free into a health savings account, grow it tax free.
[01:06:52.960 --> 01:06:57.920]  You could make tens of thousands, hundreds of thousands, millions of dollars tax free
[01:06:57.920 --> 01:07:00.560]  inside of it and then pull it out tax free.
[01:07:00.560 --> 01:07:04.320]  You can actually do real estate deals inside of a health savings account if you have the
[01:07:04.320 --> 01:07:05.800]  right type of account.
[01:07:05.800 --> 01:07:16.560]  There's a lot of when people come and spend a day or two listening to a tax expert, tax
[01:07:16.560 --> 01:07:21.240]  structuring expert, I've had many, many people over the years come up to me and say, man,
[01:07:21.240 --> 01:07:25.240]  I never knew that you could do this stuff and especially if there's somebody that has
[01:07:25.240 --> 01:07:31.400]  a job, they're making 60, 80,000, 100,000 dollars a year, they can start a simple home
[01:07:31.400 --> 01:07:36.840]  based business, file the documents properly, create some way to have income coming into
[01:07:36.840 --> 01:07:42.120]  that entity and be having huge tax benefits and savings.
[01:07:42.120 --> 01:07:49.200]  There's even ways to have to sign up children for self-directed IRAs and be able to funnel
[01:07:49.200 --> 01:07:56.240]  money into children's accounts and save money on taxes.
[01:07:56.240 --> 01:08:00.440]  There's many different things that people can do that they just don't even know where
[01:08:00.440 --> 01:08:03.880]  to get this information right now about how.
[01:08:03.880 --> 01:08:09.440]  Okay, I'd like to go back to the short sales.
[01:08:09.440 --> 01:08:20.440]  I'm really interested in how I can use the short sales to help people that are in trouble.
[01:08:20.440 --> 01:08:31.800]  If I'm looking at a foreclosure issue, would it help me to find somebody who is interested
[01:08:31.800 --> 01:08:36.680]  in purchasing the property before I went for the short sale?
[01:08:36.680 --> 01:08:41.640]  Yes, it would.
[01:08:41.640 --> 01:08:48.880]  I either purchased the short sale myself, so I'm the buyer and the reason I purchased
[01:08:48.880 --> 01:08:54.080]  it myself is because my intention is to fix the property up to then add value and put
[01:08:54.080 --> 01:09:00.600]  it back on the market for profit or my intention is to buy the property and then keep it as
[01:09:00.600 --> 01:09:06.960]  a rental or then sell it to buy the property, fix it up and then sell it to an investor
[01:09:06.960 --> 01:09:09.360]  who's looking for the rental.
[01:09:09.360 --> 01:09:14.600]  If I don't want to own the property myself, then I could start marketing the property
[01:09:14.600 --> 01:09:18.280]  and looking for a buyer who would be interested in buying it.
[01:09:18.280 --> 01:09:24.720]  So I find the homeowner, I enter an agreement with them, I negotiate the short sale with
[01:09:24.720 --> 01:09:35.280]  the bank, I get the bank to agree and then I bring the buyer in to buy the property and
[01:09:35.280 --> 01:09:42.080]  I can be paid as the short sale negotiator which is a way for me to legally and ethically
[01:09:42.080 --> 01:09:47.360]  earn money from the process of negotiating and finding the buyer.
[01:09:47.360 --> 01:09:53.240]  You can do this, essentially you're selling real estate and this way you can do it without
[01:09:53.240 --> 01:09:55.640]  a real estate license.
[01:09:55.640 --> 01:09:57.640]  Yes, yes.
[01:09:57.640 --> 01:10:01.400]  Now there's some laws around this, you have to be careful because you don't want to get
[01:10:01.400 --> 01:10:02.400]  in trouble.
[01:10:02.400 --> 01:10:08.720]  I can't act as a real estate agent meaning earning a commission from connecting a buyer
[01:10:08.720 --> 01:10:17.040]  and a seller but I can tie a property under contract and I can sell the contract and so
[01:10:17.040 --> 01:10:21.600]  there's a distinction in how we earn money.
[01:10:21.600 --> 01:10:27.920]  You make a profit, you make a direct profit on the sale instead of, so you're just buying
[01:10:27.920 --> 01:10:34.720]  and selling, you're not acting as an agent for someone else to.
[01:10:34.720 --> 01:10:40.440]  That's correct and it's important that real estate investors understand the distinction
[01:10:40.440 --> 01:10:48.880]  of the law so they don't accidentally get themselves in trouble.
[01:10:48.880 --> 01:10:54.560]  One other thing, we want to cost a lot of people who are, they just want to walk away
[01:10:54.560 --> 01:10:55.560]  from the property.
[01:10:55.560 --> 01:11:00.480]  The problem is that they can't walk away from the property because they have contractual
[01:11:00.480 --> 01:11:07.000]  obligations, potential lawsuits, potential subrogation claims if the property forecloses
[01:11:07.000 --> 01:11:10.400]  and doesn't sell high enough.
[01:11:10.400 --> 01:11:17.120]  Would it help if someone is prepared to walk away from the property anyway and maybe their
[01:11:17.120 --> 01:11:24.880]  credit is not terrible yet, they just can't pay the mortgage part?
[01:11:24.880 --> 01:11:31.920]  Would it perhaps be a good strategy to move out of the property before you get foreclosed
[01:11:31.920 --> 01:11:35.040]  on it and lease the property out?
[01:11:35.040 --> 01:11:45.760]  Now you have the property producing income so when you go for the short sale or you want
[01:11:45.760 --> 01:11:51.240]  to sell the property, now the person who's purchasing the property already has an income
[01:11:51.240 --> 01:11:58.240]  producing tenant in the property, is that helpful at all?
[01:11:58.240 --> 01:11:59.560]  It's a great strategy.
[01:11:59.560 --> 01:12:11.000]  The challenge is the banks, being the sneakers that they are, will go to the property and
[01:12:11.000 --> 01:12:18.880]  tell the tenant to stop paying their rent and so I've had experiences in my career
[01:12:18.880 --> 01:12:25.200]  where the homeowner has done exactly that, they moved out, they rented the property out,
[01:12:25.200 --> 01:12:31.800]  the bank can't foreclose and the property is rented, the bank representative or something
[01:12:31.800 --> 01:12:37.120]  come to the property, tell the renters the property is in foreclosure and that they should
[01:12:37.120 --> 01:12:41.280]  stop paying their rent and I've got people that are not paying their rent, they've been
[01:12:41.280 --> 01:12:45.360]  in the property so the homeowner has to go through the eviction process to get them out
[01:12:45.360 --> 01:12:51.520]  and so if I was going to have a homeowner do this that you've suggested, I would make
[01:12:51.520 --> 01:12:56.720]  sure that the tenant knows that the property is in the foreclosure process and maybe give
[01:12:56.720 --> 01:13:03.360]  them a little discount on the rent or try to get six months up in advance but it's something
[01:13:03.360 --> 01:13:05.480]  I've experienced many times.
[01:13:05.480 --> 01:13:13.160]  But you know in hearing this from my perspective, if I had a property that I had rented out
[01:13:13.160 --> 01:13:20.160]  this way and the bank is in the process of foreclosing but they haven't yet and they
[01:13:20.160 --> 01:13:27.640]  say anything to my client that causes my client to stop paying me, then we get a benefit of
[01:13:27.640 --> 01:13:28.640]  the bargain suit.
[01:13:28.640 --> 01:13:36.040]  It's also a tortious interference with a private contract.
[01:13:36.040 --> 01:13:40.000]  A tortious interference with a private contract.
[01:13:40.000 --> 01:13:46.480]  As I am an educator and we own a classroom today, I would love to teach people exactly
[01:13:46.480 --> 01:13:53.080]  these rules and these laws and that's one of the reasons I'm excited to have the opportunity
[01:13:53.080 --> 01:13:54.080]  to work with you.
[01:13:54.080 --> 01:14:01.280]  One of the cool things about getting into this kind of thing and if there's one piece
[01:14:01.280 --> 01:14:10.200]  of information that I could impart to everybody about law, there is always something you can
[01:14:10.200 --> 01:14:19.400]  do and mostly people think about going to the courts and how the courts are corrupt
[01:14:19.400 --> 01:14:28.240]  and the bank sold the courts and you're badly outgunned and that may be so.
[01:14:28.240 --> 01:14:35.560]  However, in the end it's all about the money and you know I tell people that with the process
[01:14:35.560 --> 01:14:43.160]  we use, the first thing we do is we're going to file a suit in the federal court under
[01:14:43.160 --> 01:14:49.240]  FDCPA and we're going to say who are you?
[01:14:49.240 --> 01:14:56.400]  You demanded that I pay you this money, you sent me a presentment as defined by the Uniform
[01:14:56.400 --> 01:15:01.920]  Commercial Code that is a demand for payment in United States dollars.
[01:15:01.920 --> 01:15:11.480]  Well, when you sent me a presentment demanding payment, if I demand that you provide for
[01:15:11.480 --> 01:15:22.840]  me the original debt instrument, you must make the instrument available for inspection.
[01:15:22.840 --> 01:15:27.180]  You don't have to give it to me but I have to be able to look at it.
[01:15:27.180 --> 01:15:37.240]  If you fail to do so, I may cease all payments without dishonor and under FDCPA 1692G, if
[01:15:37.240 --> 01:15:42.680]  I demand that you validate the debt, I demand you prove up your agency standing in capacity
[01:15:42.680 --> 01:15:51.200]  and you fail to do so, then you are statutorily stopped from any further collections and if
[01:15:51.200 --> 01:15:55.280]  you try to collect, then I get to sue you.
[01:15:55.280 --> 01:15:58.560]  Okay, so I'm sorry I lost my place.
[01:15:58.560 --> 01:16:04.560]  We claim in this suit it is a debt validation suit.
[01:16:04.560 --> 01:16:13.160]  So prove it up and we don't care what happens to this suit.
[01:16:13.160 --> 01:16:17.880]  If you don't prove it up, then I consider your act fraudulent and I demand you pay me
[01:16:17.880 --> 01:16:22.680]  three times the amount that you tried to defraud me up.
[01:16:22.680 --> 01:16:25.520]  Well, we don't care what happens to it.
[01:16:25.520 --> 01:16:30.320]  We're going to file the suit, they're going to file a rule 12 motion to dismiss for failure
[01:16:30.320 --> 01:16:33.880]  state claim which cover can be added.
[01:16:33.880 --> 01:16:40.600]  We're going to file an opposition to the motion, each one of these takes time.
[01:16:40.600 --> 01:16:44.840]  The court's going to dismiss, we're going to file reconsideration, they're going to
[01:16:44.840 --> 01:16:50.440]  file objection to reconsideration, the court's going to deny, we're going to appeal.
[01:16:50.440 --> 01:16:53.920]  Two years later, we're right back where we started.
[01:16:53.920 --> 01:17:00.840]  Hang on, Randy Kelton, David Stevens, Bob Tierney, we'll be right back.
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[01:21:07.920 --> 01:21:15.760]  petition for quiet title against one document and generally it'll be the deed of
[01:21:15.760 --> 01:21:21.200]  trust or the mortgage. We claim that the mortgage is void and invalid for a whole
[01:21:21.200 --> 01:21:28.080]  stack of reasons. We filed that in the state court. We filed the action. We've
[01:21:28.080 --> 01:21:36.600]  got all this stuff we put in there and their problem is is most of our stuff
[01:21:36.600 --> 01:21:45.360]  may not be valid. Tough. They got to prove it's not valid and that's one of
[01:21:45.360 --> 01:21:53.880]  the advantages of being able to enter the fray as a pro se. I think the thing
[01:21:53.880 --> 01:22:02.680]  that's most hidden from the individual is the power of the pro se. We may
[01:22:02.680 --> 01:22:07.440]  want to bring in a lawyer but we don't do that till the end because a lawyer
[01:22:07.440 --> 01:22:16.600]  lives inside a lawyer box and there's a whole lot he can't do. I have a book here
[01:22:16.600 --> 01:22:26.280]  on malpractice and I can assure you that no one who is a lawyer read this book
[01:22:26.280 --> 01:22:33.840]  before he became a lawyer or he went into some other profession. And another
[01:22:33.840 --> 01:22:39.520]  thing, most people go into law because they want to help people. They want to
[01:22:39.520 --> 01:22:46.000]  beat Perry Mason and do good things. They go to law school, they get their
[01:22:46.000 --> 01:22:52.360]  bar card, they get out, they start practicing law and they find out what
[01:22:52.360 --> 01:22:57.600]  they're really going to do is spend the rest of their professional career
[01:22:57.600 --> 01:23:06.760]  kissing some arrogant judges behind. Because if they don't, that judge will put
[01:23:06.760 --> 01:23:12.200]  him out of business. I once sued Denton County for 11 million dollars. I sued
[01:23:12.200 --> 01:23:24.320]  24 litigants. I sued my worst nightmare. He was the 14th litigant. The county
[01:23:24.320 --> 01:23:30.400]  commissioner's court, the county judge appointed the district attorney to
[01:23:30.400 --> 01:23:37.520]  represent the county in my suit and he asked the district
[01:23:37.520 --> 01:23:43.160]  attorney, who is this my worst nightmare? And the prosecutor said, well apparently
[01:23:43.160 --> 01:23:50.400]  someone introduced himself to Mr. Kelton as his worst nightmare. Then the judge
[01:23:50.400 --> 01:23:58.080]  said yes and I have a bone to pick with him. Well that was great fun but I tried
[01:23:58.080 --> 01:24:06.360]  to get an attorney. I kept a list because I knew what was coming. I talked to 60
[01:24:06.360 --> 01:24:15.360]  attorneys. I talked to attorneys who had fought major civil rights cases. Every
[01:24:15.360 --> 01:24:23.680]  one of them told me the same thing. One guy in down the Houston area had just
[01:24:23.680 --> 01:24:32.400]  won a big civil rights case and when I talked to him he was absolutely furious.
[01:24:32.400 --> 01:24:42.040]  Don't you dare talk to me about that. They have ruined me. He won his case but
[01:24:42.040 --> 01:24:50.640]  the judges ruined him. Every one of them said the same thing. The last one I
[01:24:50.640 --> 01:24:57.040]  called is the perfect example. He was the district attorney before the district
[01:24:57.040 --> 01:25:05.120]  attorney that I sued and his name was Jerry, I forgot his name. I'll remember his name in a
[01:25:05.120 --> 01:25:12.560]  minute but I called him and he said, I told him who I was that I have sued
[01:25:12.560 --> 01:25:18.280]  Denton County for 11 million dollars and I need somebody to represent my suit. He
[01:25:18.280 --> 01:25:23.520]  said, oh Mr. Kelton I'm very familiar with your suit. I can't represent you. You
[01:25:23.520 --> 01:25:28.080]  made accusations against judges in there and I have to represent clients in this
[01:25:28.080 --> 01:25:33.840]  county. I said, what's the matter Jerry? You afraid those judges will screw your
[01:25:33.840 --> 01:25:40.960]  next client to get back at you? He said what every other attorney did. You darn
[01:25:40.960 --> 01:25:48.920]  right they will. Now I don't know if that was true or not but I do know that he
[01:25:48.920 --> 01:25:55.200]  believed it was true and every other attorney believed it was true. These
[01:25:55.200 --> 01:25:59.920]  attorneys are not going to do anything to annoy that judge and they're not
[01:25:59.920 --> 01:26:04.600]  going to do anything to annoy the other attorney if they can help it because
[01:26:04.600 --> 01:26:10.760]  they all work together. When you get a lawyer, you think your lawyer is coming
[01:26:10.760 --> 01:26:18.800]  in there to work on your side. That is naive. The lawyer is in business. He's in
[01:26:18.800 --> 01:26:23.360]  business to make money. So the first thing he's going to do is he's going to
[01:26:23.360 --> 01:26:30.520]  look at his client and assess how much of the client's estate he can extract in
[01:26:30.520 --> 01:26:37.320]  this issue. Whoever's on the other side who has a lawyer, their lawyer is
[01:26:37.320 --> 01:26:43.120]  going to do the same thing. This is like a three-sided chessboard. You're one
[01:26:43.120 --> 01:26:50.280]  player, your lawyer is another player, and the other guy's lawyer is the third
[01:26:50.280 --> 01:26:55.960]  player. The client on the other side don't make any difference. These two
[01:26:55.960 --> 01:27:00.680]  lawyers are going to look at their clients and try to determine how much of
[01:27:00.680 --> 01:27:07.680]  their estate they can extract before the clients get too upset with them and then
[01:27:07.680 --> 01:27:11.600]  the two lawyers are going to come together and make a deal that their
[01:27:11.600 --> 01:27:17.360]  clients can accept without coming back and suing them for malpractice. You think
[01:27:17.360 --> 01:27:22.320]  your client's on your lawyer's on your side, your lawyer's on his side.
[01:27:22.320 --> 01:27:28.240]  Your lawyer's in business to make money. He's not going to do anything to damage
[01:27:28.240 --> 01:27:36.000]  his career just to adjudicate your rights and he's not going to do anything
[01:27:36.000 --> 01:27:46.280]  to cause him to make less money. This is just good business but
[01:27:46.280 --> 01:27:49.680]  they're not going to tell you all of this stuff but you need to understand
[01:27:49.680 --> 01:27:59.320]  this part. Nobody's on your side here. So from the perspective of a three-sided
[01:27:59.320 --> 01:28:06.840]  chessboard, three-sided chess is all about alliances. You've got an
[01:28:06.840 --> 01:28:11.600]  alliance with your lawyer, your lawyer's got an alliance with that lawyer, and
[01:28:11.600 --> 01:28:17.080]  that lawyer's got an alliance with his client. What you need to do is find a way
[01:28:17.080 --> 01:28:21.640]  to break the alliance between your lawyer and the other lawyer and your
[01:28:21.640 --> 01:28:27.320]  lawyer and the judge. Best way to break the alliance between your lawyer and the
[01:28:27.320 --> 01:28:33.800]  judge is judicial conduct complaints to judge. Your lawyer,
[01:28:33.800 --> 01:28:37.880]  notice him, if he don't do what you tell him to, you're going to bar-grieve him.
[01:28:37.880 --> 01:28:42.520]  You bar-grieve a lawyer, it's going to double his malpractice insurance. You
[01:28:42.520 --> 01:28:47.880]  bar-grieve him twice, they're going to cancel. You tell your lawyer, if you try
[01:28:47.880 --> 01:28:53.360]  to withdraw from the case, I'll sue you for that. Your lawyer don't have to like
[01:28:53.360 --> 01:29:05.120]  you, he's under contract to you. Judges hate pro se litigants. They don't hate
[01:29:05.120 --> 01:29:08.960]  pro se litigants because pro se litigants file stupid pleadings, they like
[01:29:08.960 --> 01:29:14.880]  that part. Makes it easy to screw them around. They hate pro se
[01:29:14.880 --> 01:29:21.880]  litigants because every once in a while they run across the pro se from hell. The
[01:29:21.880 --> 01:29:28.320]  pro se who understands their weaknesses and how to exploit those weaknesses. The
[01:29:28.320 --> 01:29:32.800]  pro se, he can't do anything to the pro se, he's going to rule against you out of
[01:29:32.800 --> 01:29:38.040]  hand anyway, so you just kick his teeth out. The only thing he can do is go to
[01:29:38.040 --> 01:29:41.880]  the lawyers and get the lawyers to pull you off of him by giving you what you
[01:29:41.880 --> 01:29:47.800]  want. Hang on, Randy Kelton, Deborah Stevens, Bob Tierney, Rule of Law Radio,
[01:29:47.800 --> 01:29:55.400]  our call-in number 512-646-1984. We'll be right back.
[01:30:01.080 --> 01:30:07.240]  For all you George Orwell fans, his cheering TV vision may be coming soon. A
[01:30:07.240 --> 01:30:11.680]  television that watches you. I'm Dr. Catherine Albrecht and in a moment I'll be back
[01:30:11.680 --> 01:30:18.120]  with the 1984 details. Your search engine is watching you, recording all your
[01:30:18.120 --> 01:30:22.480]  searches and creating a massive database of your personal information. That's
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[01:30:44.880 --> 01:30:49.760]  Ever hear of Intelligent TV? That at least is the word one company uses to
[01:30:49.760 --> 01:30:54.320]  describe a new kind of television set. It tells marketers what you're watching so
[01:30:54.320 --> 01:30:58.480]  they'll know what to advertise and when based on your boob tube habits. I'm
[01:30:58.480 --> 01:31:03.320]  serious. These two-way TVs wirelessly transmit data on what you're watching to
[01:31:03.320 --> 01:31:07.920]  an internet server. It identifies the content, updates your individual viewing
[01:31:07.920 --> 01:31:12.440]  profile, and then stores this information for sale to the highest bidder. Thank
[01:31:12.440 --> 01:31:17.080]  Walmart or Amazon. All you have to do is opt into the data sharing service when
[01:31:17.080 --> 01:31:21.120]  you turn on the set for the first time. It's due on store shelves by Christmas,
[01:31:21.120 --> 01:31:25.680]  but it sure won't be on my wish list. I'm Dr. Catherine Albrecht. More news and
[01:31:25.680 --> 01:31:33.120]  information at CatherineAlbrecht.com. Here at Zombie Killer Ammo and Guns, we
[01:31:33.120 --> 01:31:36.360]  believe that the Second Amendment guarantees our rights as citizens to be
[01:31:36.360 --> 01:31:39.800]  able to defend ourselves and our loved ones. We also believe that the right to
[01:31:39.800 --> 01:31:42.800]  carry weapons comes with the responsibility of being safe and smart
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[01:33:33.400 --> 01:34:02.280]  Okay, we are back.
[01:34:03.400 --> 01:34:08.600]  Randy Kelt and Debra Stevens, Joe Esquivel, Wheelbar Radio. Our call-in number
[01:34:08.600 --> 01:34:16.200]  512-646-1984. I think we're not getting any calls tonight. It looks like the call
[01:34:16.200 --> 01:34:23.500]  bridge is on. So we've got two more segments and when we went out was
[01:34:23.500 --> 01:34:28.800]  talking about the fact that no matter what they do there's something you can
[01:34:28.800 --> 01:34:36.120]  do back. You can't trust your lawyer to help you, but you can control your lawyer.
[01:34:36.120 --> 01:34:44.600]  You just need to understand that he's under contract to you and dispel this
[01:34:44.600 --> 01:34:52.760]  notion that the lawyer is your advocate. He's there to adjudicate your issues and
[01:34:52.760 --> 01:35:00.680]  nothing else. No, he's not. He's there to make a living. He has pressures on him
[01:35:00.680 --> 01:35:07.040]  and this is not an indictment of lawyers. If it sounds like that it's not. I don't
[01:35:07.040 --> 01:35:12.520]  think any lawyer went into the business thinking he would be stuck in this kind
[01:35:12.520 --> 01:35:16.680]  of position. For the most part kids go to law school and they don't have a clue as
[01:35:16.680 --> 01:35:19.680]  to what's going on. They get out in the real world and they find out what it's
[01:35:19.680 --> 01:35:23.720]  really all about and I've talked to a number of lawyers that said they had to
[01:35:23.720 --> 01:35:28.560]  make a decision about whether they wanted to live their life this way or not
[01:35:28.560 --> 01:35:33.000]  once they figured out what they had gotten themselves in for because it
[01:35:33.000 --> 01:35:38.760]  wasn't what they expected. Well they're in a position to where they have to
[01:35:38.760 --> 01:35:43.600]  placate the judge and not get him upset at them. They have to deal with these
[01:35:43.600 --> 01:35:50.240]  other lawyers day in day out so they can't alienate these other lawyers. They
[01:35:50.240 --> 01:35:55.480]  act like they get mad at each other but they put on a show for the clients. They
[01:35:55.480 --> 01:35:59.840]  get in court and just argue and jump up and down and rail in righteous
[01:35:59.840 --> 01:36:03.640]  indignation then they go out and have a couple beers together and laugh about
[01:36:03.640 --> 01:36:09.760]  what a great show they put on. They have to make a living they're running a
[01:36:09.760 --> 01:36:16.000]  business and their business is not dependent upon you achieving your
[01:36:16.000 --> 01:36:22.080]  intended outcome. If you want to achieve your intended outcome you're
[01:36:22.080 --> 01:36:28.520]  going to have to stand up and take it. Steve what's it say about who has rights?
[01:36:28.520 --> 01:36:37.520]  The belligerent litigant. Exactly. Rights belong to the belligerent litigant. If
[01:36:37.520 --> 01:36:45.560]  you want them come and take them. And we demonstrate a lot of techniques and I
[01:36:45.560 --> 01:36:52.760]  talk about filing criminal charges all the time and I get a bit of guff and
[01:36:52.760 --> 01:37:00.760]  blowback for when I say that I never want anybody indicted. Yeah I file these
[01:37:00.760 --> 01:37:06.920]  complaints against them but I don't really want them indicted. I have
[01:37:06.920 --> 01:37:12.920]  grandchildren and I love them dearly but if one of them runs out in the road I'm
[01:37:12.920 --> 01:37:21.920]  fixing to tan his hide and when you are working with these officials and you
[01:37:21.920 --> 01:37:27.000]  ask them to do something they're required to do and they don't do it and
[01:37:27.000 --> 01:37:35.640]  you sting them good it's better if you sting them for something really really
[01:37:35.640 --> 01:37:41.520]  minor than something and wait till they do something major. I once had a bae
[01:37:41.520 --> 01:37:49.380]  knocked me down and broke my elbow. I didn't go after him for that. The one
[01:37:49.380 --> 01:37:53.080]  thing he didn't mean to I was stepping out of door and he kind of gave me a
[01:37:53.080 --> 01:37:58.520]  little nudge and my foot hit a rug they had there to wipe your feet on and it's
[01:37:58.520 --> 01:38:03.360]  because of his extra push that rug went out from under me and I fell down broke
[01:38:03.360 --> 01:38:08.240]  my elbow. He didn't mean to do that. Had I pursued him I would have ruined his
[01:38:08.240 --> 01:38:17.080]  career. It would have been over. It was never my purpose. I liked really tiny
[01:38:17.080 --> 01:38:24.280]  stuff because I want to change behavior. I went into a court in Arlington two
[01:38:24.280 --> 01:38:29.760]  weeks ago and hearing in front of me was going on and I stood up in the courtroom
[01:38:29.760 --> 01:38:37.440]  and got to judge attention and told him that I had a hearing disability and asked
[01:38:37.440 --> 01:38:42.200]  if he had accommodation for the hearing impaired. He said no I don't. I said well
[01:38:42.200 --> 01:38:47.720]  your honor you have a sound system can you turn it up? He said no. Then will you
[01:38:47.720 --> 01:38:53.280]  speak up? Well he did. He spoke up and told me to sit down and shut up where he
[01:38:53.280 --> 01:38:58.680]  had had me removed from the courtroom. I'm gonna charge him with class A
[01:38:58.680 --> 01:39:07.160]  misdemeanor official oppression. He failed to perform a duty he was required
[01:39:07.160 --> 01:39:11.680]  to perform and in the process denied me in the full and free access to or
[01:39:11.680 --> 01:39:16.680]  enjoyment of a right 39.03 penal code class A misdemeanor
[01:39:16.680 --> 01:39:24.000]  you're in jail ten thousand dollar fine. He failed to provide accommodation under
[01:39:24.000 --> 01:39:34.640]  the Americans with Disabilities Act. That is so nitpicking if I can sting the
[01:39:34.640 --> 01:39:43.840]  judge for something seemingly so minor. What's gonna happen if he does
[01:39:43.840 --> 01:39:51.200]  something more serious? When I walked out of the courtroom I called the bailiff
[01:39:51.200 --> 01:39:59.800]  out and asked the bailiff to arrest the judge. The bailiff refused so I went to
[01:39:59.800 --> 01:40:04.760]  the municipal police department and asked him to arrest the bailiff. That was
[01:40:04.760 --> 01:40:12.120]  so much fun you wouldn't believe it but these guys were hopping up and down they
[01:40:12.120 --> 01:40:20.920]  don't ever want to see me in their court again. As a pro se if you understand you
[01:40:20.920 --> 01:40:26.120]  don't have to know all the laws you just need to understand who you are. Every
[01:40:26.120 --> 01:40:34.680]  state has a statute that requires every public official to abide by a law if the
[01:40:34.680 --> 01:40:40.160]  public you know the one I stated that was official oppression in Texas. It
[01:40:40.160 --> 01:40:46.520]  mimics the Ku Klux Klan Act of 1871. Most people know the Ku Klux Klan Act by
[01:40:46.520 --> 01:40:55.000]  42 U.S. Code 1983 which allows you to sue a public official if they harm you if
[01:40:55.000 --> 01:41:01.400]  they deny due process or deny you're gonna write you can sue them. That's the
[01:41:01.400 --> 01:41:09.560]  second half of the Ku Klux Klan Act. The first half 18 U.S. Code 242 if a public
[01:41:09.560 --> 01:41:14.880]  official acting under the color or pretence of his authority fails to
[01:41:14.880 --> 01:41:19.600]  perform a duty he's required to perform or exerts or purports to exert an
[01:41:19.600 --> 01:41:24.280]  authority he does not expressly have and in the process denies a citizen in the
[01:41:24.280 --> 01:41:30.360]  full and free access to or enjoyment of a right. That's a crime in every stage
[01:41:30.360 --> 01:41:40.960]  and it's a serious crime. So we as individuals I'm not going to say
[01:41:40.960 --> 01:41:44.960]  sovereigns because we're not really sovereigns but we are the masters. They are the
[01:41:44.960 --> 01:41:49.840]  servants. We are the masters. As the masters it is our duty to keep our
[01:41:49.840 --> 01:41:55.080]  servants in line and it's easier than you think. You have more power than you
[01:41:55.080 --> 01:42:01.840]  think. You can and when you're dealing with banks and stuff you have more power
[01:42:01.840 --> 01:42:06.720]  than you can imagine. The lawyers and the judges are going to do everything they
[01:42:06.720 --> 01:42:14.040]  can to hide it from you. The last thing they want is you for you to know and
[01:42:14.040 --> 01:42:22.800]  understand that you are the master. They are the servants. You did not swear to
[01:42:22.800 --> 01:42:28.840]  anything. They did. They swore on their oath they would do certain things and
[01:42:28.840 --> 01:42:33.880]  then they accepted payment from you through your taxes for doing those
[01:42:33.880 --> 01:42:41.000]  things and you can bring them to task. You can sue them. If you sue the banks
[01:42:41.000 --> 01:42:48.160]  their lawyers are going to charge them a whole lot of money to file responses. The
[01:42:48.160 --> 01:42:55.320]  lawyers are not going to try to end the case. They're going to turn the case. They
[01:42:55.320 --> 01:42:59.640]  make more money. They don't make a lot of money making the case go away. They make
[01:42:59.640 --> 01:43:08.000]  money turn in the case. The lawyers are doing what lawyers do. So if you have a
[01:43:08.000 --> 01:43:12.720]  for instance a foreclosure issue and you want you in a position to sue the bank
[01:43:12.720 --> 01:43:18.640]  in the end it's all about the money and you can use these tools and techniques
[01:43:18.640 --> 01:43:26.120]  to increase the cost to the bank dramatically and give them reason to come
[01:43:26.120 --> 01:43:34.880]  to the table. Bob did I say anything there that make you nervous? I want you
[01:43:34.880 --> 01:43:40.960]  to come out to our office here in Chicago and do a seminar for people that
[01:43:40.960 --> 01:43:46.880]  like to really learn this. I might scare the crap out of everybody. It's a
[01:43:46.880 --> 01:43:53.640]  little tough the first time you hear it. Okay hang on. Okay this is Randy
[01:43:53.640 --> 01:43:59.480]  Caldwell Stevens. I call in number 512-646-1984.
[01:43:59.480 --> 01:44:03.840]  You feel tired when talking about important topics like money and politics?
[01:44:03.840 --> 01:44:07.560]  Are you confused by words like the Constitution or the Federal Reserve?
[01:44:07.560 --> 01:44:11.320]  What? If so you may be diagnosed with the deadliest disease known today
[01:44:11.320 --> 01:44:16.880]  stupidity. Hi my name is Steve Holt and like millions of other Americans I was
[01:44:16.880 --> 01:44:21.280]  diagnosed with stupidity at an early age. I had no idea that the number one cause
[01:44:21.280 --> 01:44:25.120]  of the disease is found in almost every home in America, the television.
[01:44:25.120 --> 01:44:29.440]  Unfortunately that puts most Americans at risk of catching stupidity but there
[01:44:29.440 --> 01:44:33.040]  is hope. The staff at Brave New Books have helped me and thousands of other
[01:44:33.040 --> 01:44:37.160]  foxaholics suffering from sports zombieism recover and because of Brave
[01:44:37.160 --> 01:44:40.760]  New Books I now enjoy reading and watching educational documentaries
[01:44:40.760 --> 01:44:45.360]  without feeling tired or uninterested. So if you or anybody you know suffers from
[01:44:45.360 --> 01:44:52.080]  stupidity then you need to call 512-480-2503 or visit them in 1904
[01:44:52.080 --> 01:44:56.080]  Guadalupe or Brave New Bookstore.com. Side effects from using Brave New Books
[01:44:56.080 --> 01:44:58.720]  products may include discernment and enlarged vocabulary and an overall
[01:44:58.720 --> 01:45:03.680]  increase in mental functioning. Are you the plaintiff or defendant in a lawsuit?
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[01:45:39.520 --> 01:45:44.320]  principles and practices that control our American courts. You'll receive our
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[01:45:50.320 --> 01:45:55.960]  tactics and much more. Please visit RuleOfLawRadio.com and click on the
[01:45:55.960 --> 01:46:06.000]  banner or call toll-free 866-LAW-EASY.
[01:46:25.960 --> 01:46:47.960]  Okay we are back here with our special guest Bob Tierney and we have a caller.
[01:46:47.960 --> 01:46:57.400]  I think this is Johnny but he just disappeared. I think he is being screened.
[01:46:57.400 --> 01:47:04.880]  Yes. Okay so a call screener just stole him from me. So we will get our
[01:47:04.880 --> 01:47:12.540]  caller back in a moment but when we were going out we're you know what Bob what
[01:47:12.540 --> 01:47:20.440]  you do is what I really would have preferred to be doing to start with and
[01:47:20.440 --> 01:47:25.560]  that's negotiating and finding a settlement that everybody can agree with
[01:47:25.560 --> 01:47:37.880]  but when we started this the banks were just rolling over everybody. Yeah.
[01:47:37.880 --> 01:47:42.680]  They're rolling over everybody and nothing seemed to work but what we sue
[01:47:42.680 --> 01:47:51.200]  them. Now I think especially like with this latest Chase settlement that's come
[01:47:51.200 --> 01:47:58.400]  out Chase is looking at the government still prosecuting some of the officials
[01:47:58.400 --> 01:48:06.120]  this has got to frighten everybody. For everybody on the bank side. So now if
[01:48:06.120 --> 01:48:11.720]  there ever there was a time to implement a good strategy for dealing with the
[01:48:11.720 --> 01:48:21.440]  banks this is it. Let me take Johnny. Hello Johnny you have a question for us?
[01:48:21.440 --> 01:48:31.200]  Yeah I'm just curious about a couple of things. What concerning the subject matter
[01:48:31.200 --> 01:48:36.720]  that you guys have been discussing tonight doing short. Hold on hold on I'm having a
[01:48:36.720 --> 01:48:40.320]  lot your your mic is distorted can you move it away from your mouth just a
[01:48:40.320 --> 01:48:49.360]  little bit? Yeah is that better? Okay talk to me. Okay just I'm curious about a
[01:48:49.360 --> 01:48:54.360]  couple of things concerning the general subject matter that you guys have been
[01:48:54.360 --> 01:49:01.480]  discussing tonight. The short sales things like that it if you have a
[01:49:01.480 --> 01:49:07.800]  situation where a bank is threatening to foreclose like say for example in a
[01:49:07.800 --> 01:49:12.160]  situation like mine although I'm post-proposure but they were to say the
[01:49:12.160 --> 01:49:18.760]  bank is threatening to foreclose and you have situations where you have issues
[01:49:18.760 --> 01:49:25.360]  with the deed you have you know assignments and things like that there
[01:49:25.360 --> 01:49:30.040]  are you know that are where they say they've done notarizations but they
[01:49:30.040 --> 01:49:34.600]  actually haven't possibly forged documents, burglary and things like that
[01:49:34.600 --> 01:49:43.000]  and then an investor comes in and buys that property. Do those related claims
[01:49:43.000 --> 01:49:48.080]  and causes of action transfer to the investor? In other words if he if he
[01:49:48.080 --> 01:49:53.320]  discovers them could he claim those and also how would that toll the
[01:49:53.320 --> 01:49:59.840]  statute of limitations on those things? That goes to the Holder rule. The FTC
[01:49:59.840 --> 01:50:08.920]  Holder rule I think is 14 USC 1633 if I remember right. The Federal Trade
[01:50:08.920 --> 01:50:14.840]  Commission said we have these mortgage companies going into business creating
[01:50:14.840 --> 01:50:21.360]  these loans based on predatory lending practices. They then sell the loan and go
[01:50:21.360 --> 01:50:27.320]  out of business leaving the consumer with no remedy. Therefore in the matter
[01:50:27.320 --> 01:50:37.360]  of a consumer transaction there shall be no holder in due course. Any holder of a
[01:50:37.360 --> 01:50:43.560]  obligation on a consumer transaction is subject to any claim the borrower would
[01:50:43.560 --> 01:50:50.840]  have against the lender. So whoever takes that property whoever claims to be the
[01:50:50.840 --> 01:50:55.760]  holder of the property is subject to the claims that the borrower would have
[01:50:55.760 --> 01:51:01.480]  against the lender. Now there's been some case law mitigating that going to the
[01:51:01.480 --> 01:51:10.720]  person who purchases it for closure. However if there are problems evident in
[01:51:10.720 --> 01:51:17.880]  the public record the purchaser of the property has imputed knowledge of
[01:51:17.880 --> 01:51:25.480]  everything that's in the record. He can't claim he did not have notice so yes he
[01:51:25.480 --> 01:51:31.320]  would be subject to suit. Yeah absolutely I get the imputed knowledge and the
[01:51:31.320 --> 01:51:37.680]  public notice part of it. What about in a situation where an investor comes in
[01:51:37.680 --> 01:51:44.960]  purchases the property and then rents it back to the previous owner and then
[01:51:44.960 --> 01:51:51.160]  there's a challenge that would invalidate the original contract would
[01:51:51.160 --> 01:51:57.000]  that would that take ownership away from the investor? In other words if if
[01:51:57.000 --> 01:52:02.160]  someone were to come in and prove that transfers and assignments were invalid
[01:52:02.160 --> 01:52:09.280]  and that the proposing entity never had any authority to propose. Yes that that
[01:52:09.280 --> 01:52:15.120]  would nullify then the then the foreclosure sale was void didn't happen
[01:52:15.120 --> 01:52:21.040]  only looks like it happened it actually didn't happen. Right so then would the
[01:52:21.040 --> 01:52:26.920]  investor have to go back and sue to get his money back or how? The investor as
[01:52:26.920 --> 01:52:31.440]  far as the holder the owner of the property is concerned has no claim
[01:52:31.440 --> 01:52:35.000]  because when you purchase at a foreclosure sale you purchase at your
[01:52:35.000 --> 01:52:43.760]  peril. The purchaser would have to go back and sue the bank.
[01:52:43.760 --> 01:52:50.000]  Gotcha okay okay I was just curious about those things I hadn't considered
[01:52:50.000 --> 01:52:55.040]  them I know that there are issues like say for example doing a loan modification
[01:52:55.040 --> 01:53:00.120]  I mean you can't really as a matter of law you can't modify a contract that was
[01:53:00.120 --> 01:53:06.440]  fraudulent or void to begin with but you know in the case of. You also can't
[01:53:06.440 --> 01:53:13.080]  modify a contract you don't own. Right there's there's a an issue before the
[01:53:13.080 --> 01:53:18.480]  Texas Supreme Court right now that's been filed by attorney an Austin
[01:53:18.480 --> 01:53:24.880]  attorney Patrick J. Sutton in regard to modifications in the state of Texas it
[01:53:24.880 --> 01:53:31.600]  violates the Texas Constitution. Well that's interesting I haven't. Yes. Is that
[01:53:31.600 --> 01:53:39.200]  all that all foreclosures or just home? No modifications. Does that go to all
[01:53:39.200 --> 01:53:44.440]  modifications or just home? Yes no. Oh wonderful. I'll get you some more
[01:53:44.440 --> 01:53:51.480]  information on that Randy. Okay that's great. Bob have you ever had an instance
[01:53:51.480 --> 01:53:58.960]  where a purchaser purchased a property at foreclosure and then had issues come
[01:53:58.960 --> 01:54:10.760]  back at it? Only if they made a mistake on the loan that they purchased. I have
[01:54:10.760 --> 01:54:19.000]  not had a case where investors bought a property and then had problems because
[01:54:19.000 --> 01:54:25.720]  of some fraudulent mortgage because at that point once the bank transfers the
[01:54:25.720 --> 01:54:30.240]  property and sells it to the investor or approves the short sale the title
[01:54:30.240 --> 01:54:36.680]  company's job is to issue the title insurance to make sure that any claims
[01:54:36.680 --> 01:54:42.960]  against title are insured and I'm sure that there's been case law and some
[01:54:42.960 --> 01:54:46.760]  different issues that have happened that have affected the title insurance but not in my
[01:54:46.760 --> 01:54:53.280]  experience because the investor lost because of that situation. Well that's
[01:54:53.280 --> 01:55:02.000]  good news for what we're looking to do. There's a lot of businesses around the
[01:55:02.000 --> 01:55:06.920]  country I'm not I'm not premium but at least in my personal experience for the
[01:55:06.920 --> 01:55:13.560]  few hundred investors that I know myself. Well I know what happens because Johnny
[01:55:13.560 --> 01:55:19.200]  who was just there he he sued the purchaser and then they immediately sued
[01:55:19.200 --> 01:55:24.840]  the bank they bought it from so it has happened but this is it hasn't happened
[01:55:24.840 --> 01:55:31.320]  often enough often enough to to frighten off potential buyers of foreclosed
[01:55:31.320 --> 01:55:37.880]  property apparently. Right. So or short sale buyers and short sale buyers are
[01:55:37.880 --> 01:55:42.840]  different because there actually isn't a foreclosure. Right. Yeah that changes
[01:55:42.840 --> 01:55:48.520]  everything. I'm getting down to the last last three minutes I'd kind of like you
[01:55:48.520 --> 01:55:53.800]  to kind of give us a good overview of what you do and how people can reach you
[01:55:53.800 --> 01:56:02.880]  and if they're interested in what you do. Well first and foremost we teach real
[01:56:02.880 --> 01:56:09.240]  estate investment we teach real estate investment strategies to people that
[01:56:09.240 --> 01:56:13.080]  would like to learn how to acquire properties how to raise a capital to fund
[01:56:13.080 --> 01:56:19.400]  them the extra strategies we help people to fix themselves for profit we help
[01:56:19.400 --> 01:56:23.640]  people build portfolios of rental properties and we have an online
[01:56:23.640 --> 01:56:30.520]  real estate education program that is available to people in all 50 states. We
[01:56:30.520 --> 01:56:35.240]  have financing programs available so people can even people with bad credit
[01:56:35.240 --> 01:56:41.000]  if they'd like to learn the strategies that we teach we have we have programs
[01:56:41.000 --> 01:56:54.000]  that system we have we have funding programs that get people access to
[01:56:54.000 --> 01:57:00.080]  capital to be able to get into the terms that we offer in addition to in a
[01:57:00.080 --> 01:57:06.760]  real estate investment businesses sort of in up off the ground. So what is your
[01:57:06.760 --> 01:57:17.400]  email address? My email address is Bob at IQInvestments.com
[01:57:17.400 --> 01:57:27.640]  so it's IQInvestments.com. Okay if anybody wants to contact Bob you email him there
[01:57:27.640 --> 01:57:36.280]  or you can email to me and just put in the subject matter short sale and I'll
[01:57:36.280 --> 01:57:42.880]  forward the email to Bob you can find my email on the women's in real estate
[01:57:42.880 --> 01:57:49.800]  women's in real estate the rule of law radio website or the logosradionetwork.com
[01:57:49.800 --> 01:58:00.160]  website just send you an email I'll get it to Bob and I like the idea of taking
[01:58:00.160 --> 01:58:08.400]  advantage of these opportunities that are presenting themselves. Okay Bob thank
[01:58:08.400 --> 01:58:13.120]  you for being here and we look forward to having you back. Randy thank you very
[01:58:13.120 --> 01:58:18.760]  much this has been a great experience I appreciate the opportunity. Okay and all
[01:58:18.760 --> 01:58:24.080]  those jokes we were telling on the breaks we didn't mean any of that stuff.
[01:58:24.080 --> 01:58:30.280]  Okay thank you all for listening we will be back Eddie Craig will be back Monday
[01:58:30.280 --> 01:58:36.960]  with the traffic show. Debra and I will be back next Thursday and we'll look forward to
[01:58:36.960 --> 01:58:42.480]  our next four-hour info marathon next Friday. Oh I'm sorry next Friday is
[01:58:42.480 --> 01:58:47.000]  Thanksgiving we won't be doing the Thursday or Friday night show next week
[01:58:47.000 --> 01:58:53.840]  but we will be back to recap. Bibles for America is offering absolutely free a
[01:58:53.840 --> 01:58:58.160]  unique study Bible called the New Testament recovery version. The New
[01:58:58.160 --> 01:59:02.640]  Testament recovery version has over 9,000 footnotes that explain what the
[01:59:02.640 --> 01:59:08.080]  Bible says verse by verse helping you to know God and to know the meaning of life.
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[01:59:51.160 --> 02:00:11.280]  Looking for some truth? You found it. Logosradionetwork.com