I am again on my bandwagon for PrePaid Legal simply because I feel that it is important. If for no other reason then to get your affairs in order before it is to late. I have two stories to share with you on this matter, one personal and one from an associate.
The first story is about my dad.
He was taken before his time, and he was taken leaving things in utter disarray. He had a girlfriend, and ex wife, and estranged wife and us three children. As I stated in another entry, I fought for his funeral, in which I honored his wishes according to what he had told us our entire childhood. His girlfriend wanted to go against those wishes because she stated that he no longer believed that way and he should be buried. The estranged wife objected to anything above the bare minium because she hated him and was responsible for paying for the funeral as that they never legally divorced eachother. Niether of them wanting to pay for it. He had a pention, and life insurance and three kids that according to his divorce from our mother should been the beneficiaries, however the estranger wife that had not seen him in over two years and was glad that he was dead ended up with everything. He owed my mom over $36K in back child support for my two younger siblings.
Had he had a will prepared, everything could have been addressed as he wanted it to be, instead the state decided what was going to happen, and then my mom fought for atleast part of what was owed in back child support. The estranged wife will recieve money for the rest of her life because of his death and there being no will, and the girlfriend kept all of his belongings. It was a mess. I BEG of you to NOT do this to your family. Make sure that your wishes and wants are heard and followed. Have a will prepared, have your advance directives taken care of.
My associates story:
The importance of a will
John Denver went out for a routine plane ride when the unexpected
happened. He crashed into the bay and died. What was he thinking?
Probably not about the fact that he had left three children and no will,
with no directive about the disposition of his $20 million estate.
Jackie O. on the other hand, left an explicit will detailing the handling of
her $200 million estate including specific bequests to her children, gifts
for her friends, and 36 pages of directives on the distribution of her
property including her Fifth Avenue apartment in New York City and an
autographed copy (signed by Robert Frost) of JFK's inaugural address.
While you may not have $200 million (yet!), it is important that you take
control of your legacy and write a will.
Seven out of 10 Americans die "intestate," meaning without a will. In fact, each state has its own rules regarding the distribution of property as well as laws that dictate what
constitutes the elements of a valid will. Just like any other area of
financial planning, knowing the basics can go a long way. Unfortunately,
most of us don't like to think about writing a will, but the best way to
provide for your heirs is to do proper planning in life, while you can!
What's a will?
A will is a document that transfers your property at your death to
designated persons. It is revocable, which means that it is subject to
change until your death. It becomes effective only upon your death. The
goal of your will is to distribute your property to whom you wish, like your
diamond engagement ring to your favorite daughter-in-law or your coin
collection to your grandson. A will also provides for your assets to be
managed or for the care of your children by naming guardians for them.
You -- the "testator" if you are a man, or "testatrix" if you are a woman --
are the main player in writing your will. You must be of sound mind and
of majority age in your state. You must declare it to be your "last will and
testament." It must be in writing and signed by you, and two witnesses.
It should be revised when you have a change in your family situation like
a birth or a divorce, or when there is a change in the tax law. It is
essential to name a personal representative, who is known as an
"executor" or "executrix."
"The executor is charged with a fiduciary duty to carry out the terms and
conditions of the testator's will as well as settle all debts. The role is
shaped by the size and complexity of the estate," says Judd Kleeger, an
attorney in New York City. Being an executor or executrix is a job which
requires competency and some financial knowledge. Upon the death of
the testator, the executor will have to take an inventory of and collect
assets, pay debts and taxes, and manage assets.
"An executor of a large and complex estate will have much to do.
However, they will be rewarded handsomely by receiving a fee, generally
a percentage of the estate's value," Kleeger says.
Related tax issues
There are several tax issues that you should be aware of when preparing
your will. Our government imposes an estate tax from 18 percent to as
high as 55 percent! Yes, 55 percent -- that is more than half of your
accumulated estate upon your death. Fortunately, we are all entitled to a
credit against this tax. In 1998, the "applicable credit amount" was
$625,000 increasing annually until it reaches $1,000,000 in 2006.
For estates larger than the applicable credit amount, there are several
strategies that can be employed inside a will to take advantage of this
credit -- because if you don't use it, you lose it. For example, a provision
can be made in both spouses wills for "Credit Shelter Trusts." This way,
the decedent's estate shelters their credit in a trust. This trust is one to
which the surviving spouse has the right to income but which will be out
of their estate, and upon their death, would not be taxed with their
remaining assets. Trusts are prepared at a 25% discount through the
Pre-Paid Legal family plan.
"With all of the recent tax law changes regarding gifts and estates made
by the Taxpayer Relief Act of 1997 and the IRS Restructuring and Reform
Act 1998, effective tax planning by a tax practitioner can save taxes both
during life and for your heirs," says Alan Levine, a tax attorney in New
York City.
Remember, your will is your last word. Don't let someone else, like your
state or the federal government, utter it for you! You can either pay a
high dollar estate planning attorney to prepare your will or you can get
one at NO ADDITIONAL CHARGE through your Pre-Paid Legal
Membership! The value of the Will alone will pay for your family
membership for years! Don’t procrastinate! Get your will prepared
TODAY!
The will alone is worth the membership fee!
www.prepaidlegal.com/hub/jennifercassady
Wednesday, March 28, 2007
Tuesday, March 27, 2007
Reflection on my dad
There was no other man in the world like my dad. He was what he was, evil to some and wonderful to others... and not neccessarily either one of those things to the right people.
He was the dad that all my friends wanted, and at times I didn't. As I sit back and look at it, it was probably an equal split of the time whether I wanted him as my dad or not. He wasn't perfect, but he had moments of perfection... and some of the hardest things he ever said or did to me or my sister and brother and my mom, my mom especially are what has made me the woman I am today... and I am thankful.
I will tell you now that depending on who you talk to in the family, it will give you a different picture of him. And not that any one picture is right or wrong, but who he was to that person, and it is important to remember that each picture is a piece of the whole, that he wasn't any one of those versions without the next or previous version. I choose to remember him as the whole, because to me only remember the parts that I want to remember is cheating. It may make easier to sleep at night, but it is cheating.
When I tell my kids about him, I tell them the good and the bad, the perfection and the utter evilness. I want them to know and understand who people are for what they are, not what they want them to be, and that goes for the ones that are dead and gone and the ones that they have yet to meet. I make the mistake all to often of only wanting to believe the good in people, it isn't that I don't know the bad parts of them, but I am always hoping that good prevails over evil... I have to say that good has not won many battles, but it has won the important ones.
Back to my dad... it took 6 months of intense therapy for me to be able to talk about him and not feel responsible for him. In those 6 months despite the pleadings and arguments of my therapist, I dissected him into three parts. My dad, my father and Jim.
I preface this with the explanantion that any man can be a father, it only takes sperm donation, it a real man to be a dad and to be a dad you don't have to have had a part in the conception.
For me, the only way to deal with my life with my dad was to look at him completely and seperately. When he was my dad, he was perfection. We hiked in the woods, made bark boats, played GI Joes in our made up world... we had snow ball fights, we worked on yards and roofs together. He was awesome, he looked at the world differently then my friends parents, not always the right way, but his way. He taught my to tell time and do multiplication tables before I went to kindergarten. We listened to music together, he taught me to box and throw knives. We would find the perfect staff for ourselves on our hikes. We played Monopoly on Friday nights drinking Coke and eating O'Grady's potatoe chips. He was charming and good looking and he had a laugh that was infectious. You wanted him to notice you, you wanted to be around him.
When he was my father, he was more distant, more mean. He told my sister and I that no man would ever want a fat woman, and would not talk to us through puberty until we lost the weight. He drank, he had a short temper he was abusive but not evil.
When he was Jim, he was someone that I didn't even want to know. Nothing was ever his fault, the world was out to get him and he was evil. He sent my mom to the hospital on numerous occassion... I called the police to come arrest him for beating her and pretended to be asleep when he stormed up the stairs to come after to me, so that he wouldn't know for sure that I had called them. He cheated on my mom, repeatedly, lost all thier money, took me with him to buy his girlfriend a gold necklace.
There were nights I would lay in bed a pray that he would fall off the roof at one of the job sites the next day so that we didn't have to live in fear anymore. He made me feel responsible for everything. It was my fault they got married and it was my fault that they got a divorce.
I remember at 25 crying because I couldn't understand why my own father wouldn't want to be a part of my life. It was never about anyone but him.
But I have to tell you, that I wouldn't go back and ask for a different person to be my dad or my father. I wouldn't be who I am if I did.
Whether he knew it or not, whether it was his intention or not, he made me strong willed and unrelenting. I believe that I am able to step abck and look at things for what they are and not what I want them to be. I am not going to argue with family members over who is was or wasn't, he was everything that anyone said about him. It's the truth, people want to remember the good in him, for some people there was no good about him.
Do I miss him.... yes... I should tell you that about 5 years ago he was hit and killed by a car. He had been drinking all day, it was pouring in rain at 11pm and he chose, yes chose, to walk out in front of a car and end it all. He forever changed the life of the poor 19 year old kid that hit him on his way home from work. But after not seeing him for 5 years, it was me fighting for his funeral and asking all those that attended that if that couldn't get up and play "Let's Remember" and be nice then I asked that they not get up and say anything at all. Outside of my siblings and myself only two other people spoke. And you could tell that the over all feeling in the room was not one of sadness or lost, but of relief.
Would I have him back? No. If he was back and lived around the corner from me I wouldn't make another attempt to have him in my life. While I would want to believe that he would never hurt my kids... I know who and what he was... and that is a gamble that I would not want to loose. And a person would be foolish to think otherwise.
I loved him, I don't believe no matter what anyone has said that he loved me though. He might of whenI was little, but not much after that. I was his way in, a way back... because he knew I was always going to give him another chance.
Do I wish my children knew him... I wish that they could've known a part of him... when he was my dad... that part of him would've made an awesome grandfather... but again, you can't take a part with out the whole. So I tell them about him, and sometimes it makes me cry and sometimes it makes me mad... and sometimes it just is an is...
I thank him though, for teaching me to have an open mind and a free spirit, to make my own way and that sometimes, there are times, when all you have to depend on is yourself.
His life wasn't easy, I know that, and he didn't think our life should be easy either, so he didn't let...We knew when he was disappointed, and I knew when to stay away...and to stand in the way...
Well... that is enough for today...
He was the dad that all my friends wanted, and at times I didn't. As I sit back and look at it, it was probably an equal split of the time whether I wanted him as my dad or not. He wasn't perfect, but he had moments of perfection... and some of the hardest things he ever said or did to me or my sister and brother and my mom, my mom especially are what has made me the woman I am today... and I am thankful.
I will tell you now that depending on who you talk to in the family, it will give you a different picture of him. And not that any one picture is right or wrong, but who he was to that person, and it is important to remember that each picture is a piece of the whole, that he wasn't any one of those versions without the next or previous version. I choose to remember him as the whole, because to me only remember the parts that I want to remember is cheating. It may make easier to sleep at night, but it is cheating.
When I tell my kids about him, I tell them the good and the bad, the perfection and the utter evilness. I want them to know and understand who people are for what they are, not what they want them to be, and that goes for the ones that are dead and gone and the ones that they have yet to meet. I make the mistake all to often of only wanting to believe the good in people, it isn't that I don't know the bad parts of them, but I am always hoping that good prevails over evil... I have to say that good has not won many battles, but it has won the important ones.
Back to my dad... it took 6 months of intense therapy for me to be able to talk about him and not feel responsible for him. In those 6 months despite the pleadings and arguments of my therapist, I dissected him into three parts. My dad, my father and Jim.
I preface this with the explanantion that any man can be a father, it only takes sperm donation, it a real man to be a dad and to be a dad you don't have to have had a part in the conception.
For me, the only way to deal with my life with my dad was to look at him completely and seperately. When he was my dad, he was perfection. We hiked in the woods, made bark boats, played GI Joes in our made up world... we had snow ball fights, we worked on yards and roofs together. He was awesome, he looked at the world differently then my friends parents, not always the right way, but his way. He taught my to tell time and do multiplication tables before I went to kindergarten. We listened to music together, he taught me to box and throw knives. We would find the perfect staff for ourselves on our hikes. We played Monopoly on Friday nights drinking Coke and eating O'Grady's potatoe chips. He was charming and good looking and he had a laugh that was infectious. You wanted him to notice you, you wanted to be around him.
When he was my father, he was more distant, more mean. He told my sister and I that no man would ever want a fat woman, and would not talk to us through puberty until we lost the weight. He drank, he had a short temper he was abusive but not evil.
When he was Jim, he was someone that I didn't even want to know. Nothing was ever his fault, the world was out to get him and he was evil. He sent my mom to the hospital on numerous occassion... I called the police to come arrest him for beating her and pretended to be asleep when he stormed up the stairs to come after to me, so that he wouldn't know for sure that I had called them. He cheated on my mom, repeatedly, lost all thier money, took me with him to buy his girlfriend a gold necklace.
There were nights I would lay in bed a pray that he would fall off the roof at one of the job sites the next day so that we didn't have to live in fear anymore. He made me feel responsible for everything. It was my fault they got married and it was my fault that they got a divorce.
I remember at 25 crying because I couldn't understand why my own father wouldn't want to be a part of my life. It was never about anyone but him.
But I have to tell you, that I wouldn't go back and ask for a different person to be my dad or my father. I wouldn't be who I am if I did.
Whether he knew it or not, whether it was his intention or not, he made me strong willed and unrelenting. I believe that I am able to step abck and look at things for what they are and not what I want them to be. I am not going to argue with family members over who is was or wasn't, he was everything that anyone said about him. It's the truth, people want to remember the good in him, for some people there was no good about him.
Do I miss him.... yes... I should tell you that about 5 years ago he was hit and killed by a car. He had been drinking all day, it was pouring in rain at 11pm and he chose, yes chose, to walk out in front of a car and end it all. He forever changed the life of the poor 19 year old kid that hit him on his way home from work. But after not seeing him for 5 years, it was me fighting for his funeral and asking all those that attended that if that couldn't get up and play "Let's Remember" and be nice then I asked that they not get up and say anything at all. Outside of my siblings and myself only two other people spoke. And you could tell that the over all feeling in the room was not one of sadness or lost, but of relief.
Would I have him back? No. If he was back and lived around the corner from me I wouldn't make another attempt to have him in my life. While I would want to believe that he would never hurt my kids... I know who and what he was... and that is a gamble that I would not want to loose. And a person would be foolish to think otherwise.
I loved him, I don't believe no matter what anyone has said that he loved me though. He might of whenI was little, but not much after that. I was his way in, a way back... because he knew I was always going to give him another chance.
Do I wish my children knew him... I wish that they could've known a part of him... when he was my dad... that part of him would've made an awesome grandfather... but again, you can't take a part with out the whole. So I tell them about him, and sometimes it makes me cry and sometimes it makes me mad... and sometimes it just is an is...
I thank him though, for teaching me to have an open mind and a free spirit, to make my own way and that sometimes, there are times, when all you have to depend on is yourself.
His life wasn't easy, I know that, and he didn't think our life should be easy either, so he didn't let...We knew when he was disappointed, and I knew when to stay away...and to stand in the way...
Well... that is enough for today...
Protect Yourself
I decided to share a story with all of my readers, basically in hopes to prevent you from falling victim to scam.
I say a story simply because it is easier for me to bare telling it then to let you know that this is in fact a biographical story.
As it stands right now, we are in the middle of litigation over this with the very obvious reatlty that even with our winning we will never see the money we lost again, and that these people and their counterparts will continue to do business illegally and take more money from more people. And let me tell you now, jail does not scare them. They have been in jail and they are not afraid of going back.
I will also tell you the point of this story is to get you to go to a webpage and investigate coverage for yourself and your family. It is coverage that we did not have at the time but wished we had, and now we do, and we will never not be protected again.
We had a home based business, we still have the business but we are at the starting over point, that dealt with seller financing of homes that created a real estate note, and facilitating the sale of that note. Actually, our preference then as it is now, is to come across a note that is already created with payment history and that is legitimate. I went out one afternoon to all the realtor offices that were in our area and delivered personal invitiations to all realtors and firms for a seminar I was putting on, about the benefits to the realtor for learning about seller financing and promissory notes.
One "business" that I went into that portrayed itself as a real estate office dealing specifically with seller financing, and rehabbed homes and helping people not rent but own a home. They were very interested in what I did, and I thought the "service" that they offered was great and it seemed to be a great fit with the potential of alot of business for our company as well as theirs'.
I gave them the requirements of my investors to purchase a note, I explained what a note is, how it is created, what would need to happen in order for a note to be created and what my investors were looking for when deciding whether to buy or not. We had two meetings prior to the first deal that we attempted to do. I needed to understand what they were looking for and they needed to understand the procedure and what I could do and what I could not do.
With the promises of they were legitimate, they were in the business to help people not hurt people, we started out first deal.
Right here I want to interject that there was no contract between our company and thier company, and I could not be paid unless a deal closed, and I was never paid by them, I was paid by my investors that were buying the notes. But I stress to you, get a contract, put it in writing. When ever you are consulting, get a contract, have it reviewed by an attorney that is looking out for your interest.
Well, the start of the first deal went well, they were able to create a note, we closed with a title compnay, I had most of the needed documentation for my investor and we were waiting on an appraisal to back up what they had sold the house for so that my investor knew that the house was atleast worth more then what he was paying for the piece of paper. It took two months to get an appraisal, and when we finally got it, it was for half of what they "sold" the property for. I should've been worried then, but they reassurred me that it was a one time thing, they had other deals to work on. I advised them of what to do in order to be able to get anything out of that note, which was basically make sure all payments were on time and try to work on the house. Well, that isn't what they were interested in.
So after that, they began innodate me with purchase contracts, and demands. With out closing one I was up to 22 properties that I was trying to collect from them the needed documentation, getting quotes from my investors and trying to get a deal closed. Working 40 hours a week, week after week with no pay is not a way to live. I had to let my other clients sit on the back burner, which eventually cost me a few clients, just to try to get any of these properties taken care of. My investors were getting irritated because it shoudn't take more then 4 weeks start to finish once a seller accepts an offer and we were going on months for some of these.
I didn't stop working with them when I shoud've because we had made a mistake of becoming friends with them. Not that you can't be friendly or even friends with people that you do business with, but I recommend KNOWING who you are doing buisness with.
In an effort to try to expedite the process, we had three dinners that our company paid for to have all of thier investors(sellers) and all of thier home buyers as well as their enitre office over to go over the requirements, the legalities and what a note was, and what was needed to get a sale completed and that it could not happen without all the needed documentation.
During this time, the owner of the company was in a tight spot and asked for our help. He needed a loan until a set of properties that he was partnered in closed in Texas. We loaned him $25,000.00 with the promise to return the $25K as well as an additional $10K interest, and that it would be returned within 45 days. Again, did we get it in writing? Yes and no, the cashier check that we gave them stated that it was in fact a loan, and who the loan was to. As that the owner wanted it made out to the company.
Why did we do this? We were looking at purcahsing rental properties through them, I had 22 of their properties with seller financed notes that I was trying to get the paperwork to close, we had a relationship with them. Or so we thought....
It all started coming apart when appraisail after appraisal wa below purchase price, when my investors would order BPO's and there were items to be fixed they never fixed them my investors were yelling at me, I was yelling at this "real estate company" to try to salvage anything. We started asking for our money back that we had loaned them and we got delay after delay. It got to the point where they were bankrupting us. I was loosing commissions, they had our money and it was all becoming very clear. We met and talked with one of their investors that was having problems with them as well. He had bought 12 properties, and had mortgages on those 12 properties that they were suppose to be managing for him and they were destroying the properties and not paying him his collected rents. He was in for over $780,000 just with what the balances on the mortgages were, not including penalties for late payments or early payoff.
Though alittle late in some aspects, we walked into their office and handed them back the mess that they had given to me, told them the had 14 days to pay us back the loan and that I could no longer do business with them as that I worked in the legal and legitimate world and the worked in another world. I walked out of thier office and into my attorney's office.
We presented all of items to the attorney and then we were let in on a little secret. That these people and their so called "real estate office/management firm" was a scam. They were part of a county wide scam that was going on and that the FBI was in town running that investigation. We were also told that depsite the fact that we had a better then good case, we would never see our money again. That is the way these "companies" work. And our attorney gave us a list of people that were fraudelent and scamming people in real estate. It was disheartening. Apparently what these companies do is set up a bunch of phony companies that are LLC's with bank accounts that never have money in them. So even with winning a court case, there is no assets for you to attack to get your money back.
We decided to go after them, and we talked to the investor that they had suckered for over $780K and had him go talk to our attorney as well. And we joined forces in the federal case against them.
I tried to help this investor, I read his mortgages over, the broker that worked with this real estate fraud company had brokered the mortgages, and he must of looked for the worst interest rates and most brutual prepayment penalties that he could, because if this investor woudl've tried to pay off earlier he owed far far beyond what all the properties togethere were worth. But we tried to bundle them, and I approached some of my real estate buying investors with the package. Well after we looked at the properties, there was just no way to sell for what was owed, as that the appraisors that did the appraisals over valued the properties. As we found out later, those appriasors were in the pocket of this real estate fraud company.
My purpose as I stated in the beginning is to urge you to protect yourself. Don't think it can't happen to you because it can. It can happen to someone you love. Unfortunately, there are alot of scam artist out there and they know how to work the system, and they are not afraid of jail.
Our attorney fees right now are in the thousands, if it goes to trial we are looking at tens and twenty thousands of dollars. Had we had Prepaid Legal then we wouldn't be in this position.
You get the best law firms in your state at your beck and call, 24 hours a day, for one flat monthly fee. Protect yourself now, so that you aren't in the same boat we are saying "If only..." We have the protection now, and as I told you in the beginning, we will never not have it again. It is nice to say, "I'm calling my lawyer.." and knowing that they are there, and I don't owe them an hourly fee, I paid my monthly membership fee and I am covered.
There is no contract for you to sign, it is month to month. But what they offer is priceless and you will not want to be without this protection ever again. They will even prepare your will for you, that is included in your memebership.
Please take the time and check it out, for yours and your family's sake.
www.prepaidlegal.com/hub/jennifercassady
I say a story simply because it is easier for me to bare telling it then to let you know that this is in fact a biographical story.
As it stands right now, we are in the middle of litigation over this with the very obvious reatlty that even with our winning we will never see the money we lost again, and that these people and their counterparts will continue to do business illegally and take more money from more people. And let me tell you now, jail does not scare them. They have been in jail and they are not afraid of going back.
I will also tell you the point of this story is to get you to go to a webpage and investigate coverage for yourself and your family. It is coverage that we did not have at the time but wished we had, and now we do, and we will never not be protected again.
We had a home based business, we still have the business but we are at the starting over point, that dealt with seller financing of homes that created a real estate note, and facilitating the sale of that note. Actually, our preference then as it is now, is to come across a note that is already created with payment history and that is legitimate. I went out one afternoon to all the realtor offices that were in our area and delivered personal invitiations to all realtors and firms for a seminar I was putting on, about the benefits to the realtor for learning about seller financing and promissory notes.
One "business" that I went into that portrayed itself as a real estate office dealing specifically with seller financing, and rehabbed homes and helping people not rent but own a home. They were very interested in what I did, and I thought the "service" that they offered was great and it seemed to be a great fit with the potential of alot of business for our company as well as theirs'.
I gave them the requirements of my investors to purchase a note, I explained what a note is, how it is created, what would need to happen in order for a note to be created and what my investors were looking for when deciding whether to buy or not. We had two meetings prior to the first deal that we attempted to do. I needed to understand what they were looking for and they needed to understand the procedure and what I could do and what I could not do.
With the promises of they were legitimate, they were in the business to help people not hurt people, we started out first deal.
Right here I want to interject that there was no contract between our company and thier company, and I could not be paid unless a deal closed, and I was never paid by them, I was paid by my investors that were buying the notes. But I stress to you, get a contract, put it in writing. When ever you are consulting, get a contract, have it reviewed by an attorney that is looking out for your interest.
Well, the start of the first deal went well, they were able to create a note, we closed with a title compnay, I had most of the needed documentation for my investor and we were waiting on an appraisal to back up what they had sold the house for so that my investor knew that the house was atleast worth more then what he was paying for the piece of paper. It took two months to get an appraisal, and when we finally got it, it was for half of what they "sold" the property for. I should've been worried then, but they reassurred me that it was a one time thing, they had other deals to work on. I advised them of what to do in order to be able to get anything out of that note, which was basically make sure all payments were on time and try to work on the house. Well, that isn't what they were interested in.
So after that, they began innodate me with purchase contracts, and demands. With out closing one I was up to 22 properties that I was trying to collect from them the needed documentation, getting quotes from my investors and trying to get a deal closed. Working 40 hours a week, week after week with no pay is not a way to live. I had to let my other clients sit on the back burner, which eventually cost me a few clients, just to try to get any of these properties taken care of. My investors were getting irritated because it shoudn't take more then 4 weeks start to finish once a seller accepts an offer and we were going on months for some of these.
I didn't stop working with them when I shoud've because we had made a mistake of becoming friends with them. Not that you can't be friendly or even friends with people that you do business with, but I recommend KNOWING who you are doing buisness with.
In an effort to try to expedite the process, we had three dinners that our company paid for to have all of thier investors(sellers) and all of thier home buyers as well as their enitre office over to go over the requirements, the legalities and what a note was, and what was needed to get a sale completed and that it could not happen without all the needed documentation.
During this time, the owner of the company was in a tight spot and asked for our help. He needed a loan until a set of properties that he was partnered in closed in Texas. We loaned him $25,000.00 with the promise to return the $25K as well as an additional $10K interest, and that it would be returned within 45 days. Again, did we get it in writing? Yes and no, the cashier check that we gave them stated that it was in fact a loan, and who the loan was to. As that the owner wanted it made out to the company.
Why did we do this? We were looking at purcahsing rental properties through them, I had 22 of their properties with seller financed notes that I was trying to get the paperwork to close, we had a relationship with them. Or so we thought....
It all started coming apart when appraisail after appraisal wa below purchase price, when my investors would order BPO's and there were items to be fixed they never fixed them my investors were yelling at me, I was yelling at this "real estate company" to try to salvage anything. We started asking for our money back that we had loaned them and we got delay after delay. It got to the point where they were bankrupting us. I was loosing commissions, they had our money and it was all becoming very clear. We met and talked with one of their investors that was having problems with them as well. He had bought 12 properties, and had mortgages on those 12 properties that they were suppose to be managing for him and they were destroying the properties and not paying him his collected rents. He was in for over $780,000 just with what the balances on the mortgages were, not including penalties for late payments or early payoff.
Though alittle late in some aspects, we walked into their office and handed them back the mess that they had given to me, told them the had 14 days to pay us back the loan and that I could no longer do business with them as that I worked in the legal and legitimate world and the worked in another world. I walked out of thier office and into my attorney's office.
We presented all of items to the attorney and then we were let in on a little secret. That these people and their so called "real estate office/management firm" was a scam. They were part of a county wide scam that was going on and that the FBI was in town running that investigation. We were also told that depsite the fact that we had a better then good case, we would never see our money again. That is the way these "companies" work. And our attorney gave us a list of people that were fraudelent and scamming people in real estate. It was disheartening. Apparently what these companies do is set up a bunch of phony companies that are LLC's with bank accounts that never have money in them. So even with winning a court case, there is no assets for you to attack to get your money back.
We decided to go after them, and we talked to the investor that they had suckered for over $780K and had him go talk to our attorney as well. And we joined forces in the federal case against them.
I tried to help this investor, I read his mortgages over, the broker that worked with this real estate fraud company had brokered the mortgages, and he must of looked for the worst interest rates and most brutual prepayment penalties that he could, because if this investor woudl've tried to pay off earlier he owed far far beyond what all the properties togethere were worth. But we tried to bundle them, and I approached some of my real estate buying investors with the package. Well after we looked at the properties, there was just no way to sell for what was owed, as that the appraisors that did the appraisals over valued the properties. As we found out later, those appriasors were in the pocket of this real estate fraud company.
My purpose as I stated in the beginning is to urge you to protect yourself. Don't think it can't happen to you because it can. It can happen to someone you love. Unfortunately, there are alot of scam artist out there and they know how to work the system, and they are not afraid of jail.
Our attorney fees right now are in the thousands, if it goes to trial we are looking at tens and twenty thousands of dollars. Had we had Prepaid Legal then we wouldn't be in this position.
You get the best law firms in your state at your beck and call, 24 hours a day, for one flat monthly fee. Protect yourself now, so that you aren't in the same boat we are saying "If only..." We have the protection now, and as I told you in the beginning, we will never not have it again. It is nice to say, "I'm calling my lawyer.." and knowing that they are there, and I don't owe them an hourly fee, I paid my monthly membership fee and I am covered.
There is no contract for you to sign, it is month to month. But what they offer is priceless and you will not want to be without this protection ever again. They will even prepare your will for you, that is included in your memebership.
Please take the time and check it out, for yours and your family's sake.
www.prepaidlegal.com/hub/jennifercassady
Labels:
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Thursday, March 1, 2007
Work from Home Programs
I have to let everyone out there know that you need to be cautious when looking for a home based business. I have tried just about everything out there. Some work, some are to good to be true and some are not what they seem.
I have bought Russ Dalbey's course on Real Estate notes, now this is a legitimate career, but the course is not enough to get you through the business. It basically gives you a rough idea of what you are looking for and a way to find it. It takes alot more work and alot more education then he leads you to believe. He offers a mentoring program, which is very expensive, but if you don't want to take the time to search for the information you need then it may be worth the expense. But really, all you need to do is find an investor to work with that will mentor you for nothing, and pay you for bringing in notes. I have worked many hours for no money at all in the note business, but I have also not to work hard at all to make a nice commission from "brokering" a note.
Then there is the enevolope stuffing... SCAM! I have not found one legitimate "stuffing" program.
Data entry... that would be how I came blogging actually. There are free sources out there to use to learn more about data entry in today's world... research those first. That is my advice. I ha prucahsed a program that said it would help get the data entry job and show you how to make the most money at it. It didn't promise overnight success, it said that it would take time and hard work, sounded safe... going through the program however, it was more like a referral program, each step there was another way to do it and get more money, after you spent another $97 on another product. I asked for a refund of the $97 I had paid to start with for the program and so far they have not charged my account for it. I will have to keep you updated.
Affilate programs - no who and what you are referring people to before signing up for these programs. An affilate program shouldn't cost you anything to do as far as signing up for it. However you have to promote and advertise and that can cost you money. Depending on the company and the product it really is a good way to make money. Again you aren't going to be able to retire overnight but it does work.
The Zaken Corporation - the offer a liquidation program and a referral program, that offer nice commissions and a money back guarantee. And there programs actually give you all the information that you need to run your own home based business. You can very easily make a couple thousand dollars per transaction. There have been criticisms over their customer service area for the "agents", which is you when you work for them, they are alittle slow to respond but they do respond.
Prepaid Legal - best program out there. I recommend this one to everyone actually. Whether you just buy the product for yourself and your family or if you decide to "sell". They have a great training program, you up line is there to help you whenever you need it, compensation is really good. They offer services that everyone should have, and that most people in Europe do have. They have been around for years, and they are great to their representatives and their cusotmers.
My advice to you is simple, investigate...research...understand and enjoy it. If you are looking for a home based business idea look for something that you are going to enjoy doing. Know that it takes alot of work, unpaid work I might add, to get started. You have to build your client base, no one is going to give it to you. You need to advertise and you need to know what you are offering to people. Whether it is a service or a product know what you are talking about.
Network with people, talk to people. Whatever business you decide to go with tell everyone and be excited about it. If you aren't exicted or knowledgable about what you are doing, why would anyone contact you.
I have my own home based business, I have mentored people for free... but there is work involved, there is time involved and there is a committment that is required.
I have bought Russ Dalbey's course on Real Estate notes, now this is a legitimate career, but the course is not enough to get you through the business. It basically gives you a rough idea of what you are looking for and a way to find it. It takes alot more work and alot more education then he leads you to believe. He offers a mentoring program, which is very expensive, but if you don't want to take the time to search for the information you need then it may be worth the expense. But really, all you need to do is find an investor to work with that will mentor you for nothing, and pay you for bringing in notes. I have worked many hours for no money at all in the note business, but I have also not to work hard at all to make a nice commission from "brokering" a note.
Then there is the enevolope stuffing... SCAM! I have not found one legitimate "stuffing" program.
Data entry... that would be how I came blogging actually. There are free sources out there to use to learn more about data entry in today's world... research those first. That is my advice. I ha prucahsed a program that said it would help get the data entry job and show you how to make the most money at it. It didn't promise overnight success, it said that it would take time and hard work, sounded safe... going through the program however, it was more like a referral program, each step there was another way to do it and get more money, after you spent another $97 on another product. I asked for a refund of the $97 I had paid to start with for the program and so far they have not charged my account for it. I will have to keep you updated.
Affilate programs - no who and what you are referring people to before signing up for these programs. An affilate program shouldn't cost you anything to do as far as signing up for it. However you have to promote and advertise and that can cost you money. Depending on the company and the product it really is a good way to make money. Again you aren't going to be able to retire overnight but it does work.
The Zaken Corporation - the offer a liquidation program and a referral program, that offer nice commissions and a money back guarantee. And there programs actually give you all the information that you need to run your own home based business. You can very easily make a couple thousand dollars per transaction. There have been criticisms over their customer service area for the "agents", which is you when you work for them, they are alittle slow to respond but they do respond.
Prepaid Legal - best program out there. I recommend this one to everyone actually. Whether you just buy the product for yourself and your family or if you decide to "sell". They have a great training program, you up line is there to help you whenever you need it, compensation is really good. They offer services that everyone should have, and that most people in Europe do have. They have been around for years, and they are great to their representatives and their cusotmers.
My advice to you is simple, investigate...research...understand and enjoy it. If you are looking for a home based business idea look for something that you are going to enjoy doing. Know that it takes alot of work, unpaid work I might add, to get started. You have to build your client base, no one is going to give it to you. You need to advertise and you need to know what you are offering to people. Whether it is a service or a product know what you are talking about.
Network with people, talk to people. Whatever business you decide to go with tell everyone and be excited about it. If you aren't exicted or knowledgable about what you are doing, why would anyone contact you.
I have my own home based business, I have mentored people for free... but there is work involved, there is time involved and there is a committment that is required.
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