February 15, 2025 • 53 mins
Ready to transform your real estate selling experience? Discover the power of full market value cash offers and how they can redefine your approach to selling your home. Join me, Rowena Patton, on the Plain English Real Estate Show as we explore the unique advantages our cash offer programs provide over traditional methods. We'll look into the different ways to list a property, including conventional, certified pre-owned (CPO), and cash CPO listings, while debunking common misconceptions that often cloud the real estate market.
In a compassionate segment, we delve into the Senior Living CPO program, specifically designed to ease the transition for seniors moving into retirement communities. By offering full market value cash offers, we aim to eliminate the stress and uncertainty that comes with selling a family home. Our dedicated team, including senior attorneys and home remodeling experts, ensures that the process is smooth and stress-free, allowing seniors to focus on settling into their new homes with peace of mind.
For those interested in investment opportunities or facing complex personal situations, the Flip CPO program and Divorce CPO solutions offer innovative ways to maximize financial benefits. Whether you're a home flipper, going through a divorce, or managing an estate, our programs provide faster, equitable solutions to enhance your real estate transactions. We also cater to short-term rental owners looking to sell without disrupting their business, ensuring a seamless experience for all parties involved. Tune in to learn how these strategies can simplify your selling process and improve your financial outcomes.
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Episode Transcript
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Speaker 1 (00:00):
This is the Plain English Real Estate Show with
your host, rowena Patton, a showthat focuses on the real estate
market in terms you can easilyunderstand.
Call Rowena now.
The number is 240-9962 or1-800-570-9962.
Now here's the English girl inthe mountains, the agent that I
(00:20):
would trust, rowena Patton.
Speaker 2 (00:22):
Hi everybody.
It's Rowena Patton here, yourfriend in real estate on the
Real Estate News Radio Show.
And today, happy Valentine'severyone.
Even if you're not withsomebody and didn't get a great
big bunch of roses, somebody'syour Valentine.
Think about somebody that justputs a smile on your face and
(00:44):
say happy Valentine's to them.
It will make their day.
Today I'm going to do a deepdive through the various cash
CPO programs, what all thedifferent niches are, who
they're useful for, how you usethem, that kind of thing.
So what is this cash offer?
Well, you've probably heard ofcash offers before and for most
(01:06):
people it gives them a shiver upthe spine because it makes you
think of the companies that buyugly houses, the companies that
have investors that go out tosenior living communities yes,
there really are those and theyoffer the seniors 50 cents on
the dollar, maybe 60 cents onthe dollar.
(01:26):
I promise you that's not whatthis is.
I would never, ever have gotinvolved in it.
In fact, I'm in a top group ofagents around the country and
many, many of them have cashoffer programs.
There's nothing wrong with it.
It's just a model.
It's just something I've neverchosen to be part of, and it's
actually a great model.
You know, you go in as aninvestor.
(01:47):
You buy a house for pennies onthe dollar.
Oh, we don't have penniesanymore, do we?
It's just been cancelled.
You buy it for a dollar on thehundred dollars.
There you go Five dollars onthe hundred dollars and you get
a great deal.
And you, as an investor, go in,usually remodel it a little bit
, sell it for more and that'swhere you make your profit.
(02:09):
Very often these investors areborrowing what's called hard
money.
They've got hard moneyinvestors that charge a really
big interest rate.
Sometimes they've got their ownmoney.
They invest, but very oftenthey're using hard money so they
can't have it sitting for verylong.
So how is our cash offerdifferent?
First of all, it's a completelydifferent product.
(02:31):
It's a full market value cashoffer.
I really do encourage you tolook at this if you're even
thinking about selling your home, because if you're thinking
about selling your home, even ifyou're not thinking about
putting it on the market untilthe spring, that's a whole other
show.
Please, don't wait.
There's more and more coming onright now.
That means you have morecompetition.
(02:53):
If you're thinking aboutwaiting, get us out to take a
look at it.
You can get us out by calling828-333-4483.
And if you're thinking, well,I'm in California.
I can't get you out there.
Actually you can, because we'rein an amazing network it's
called Listing Royalty of peoplewho are trained in these
(03:14):
programs, that know how to usethese programs.
And guess what?
If you don't want it, that'sokay.
All of us offer at least threeways to list, and that's a
conventional or old-fashionedlisting.
You know how those go Go or,even better, what we call a CPO
listing right.
So three choices when you list.
Keep hold of this one.
Grab a pen here I'll give you aminute.
(03:35):
Grab a pen.
So this is my Valentine's Daygift to you, because you really
want to know this if you'rethinking about listing.
Three ways to list, three keyways to list.
There are lots of ways to list,but these are the three key
ways.
One is a conventional orold-fashioned listing.
I can tell you I'm over abillion dollars in sales.
I worked it out this morning,it kind of scared me.
(04:03):
I'm over 1.2 billion dollars insales.
This is not my first rodeo.
I don't say that to brag.
That means I've been blessed.
I have the honor of havinghelped many, many, many families
all over the country in theirreal estate journey and I feel
very blessed and very honoredfor that.
So out of all of that, I'velearned the way to do it and I
can tell you that the vastmajority of those were not
(04:23):
conventional or old-fashionedlistings.
Why, excuse me?
Because when I got into realestate originally I just thought
it was kind of funky the waythings were happening.
Houses dropped out over a thirdof the time not just my deals,
but deals around the countrywith agents that I was working
with.
So a house went under contractover a third of the time.
(04:44):
They fell out.
That's not good guys.
Nobody wants that.
Why?
Because you've got what'scalled a stigmatized listing.
You want to avoid that at allcosts.
What that means is people callus and they say what's wrong
with it and why did it fall out?
They can see you on all thesebig box websites.
They can see it's dropped outand then they're wondering
(05:07):
what's wrong with it and why itdropped out.
So you want to avoid it at allcosts.
How do you avoid that?
Two key ways.
You avoid that.
You do what's called acertified pre-owned listing.
What does that mean?
A certified pre-owned listing?
And these were what I wasexcelling in what I was
specializing in for almost 16years before the cash CPO came
along, and now we do both.
So certified pre-owned listing.
(05:28):
I've been training agents to dothis around the country since
2007.
What you do is your agent willhelp you with this.
If you're a FISBO, let me justtell you the steps.
You have an inspector come lookat your home.
I know some of you are sayingmy home is so well maintained,
it's really beautiful andthere's never going to be any
problems with it and yada, yada.
(05:48):
I understand, and for most ofyou I would agree with you.
Many of you have gotbeautifully maintained homes.
That's not what it's aboutHomes.
Remember, I've done over abillion dollars in sales here.
So what this is about is thatwhen the inspector comes in,
they have to earn their money,and not only that.
(06:09):
Some of the things they'refinding you can't see.
It may be on your roof.
It may be something on yourceiling that you haven't noticed
.
Inside a closet it may beflashing around I mean, these
are very common ones, right,flashing around chimneys, things
like like that.
It may be some moisture in thebasement that's also a very,
very common one some moisture inthe crawl space or something
(06:31):
like that.
It could be a door creaking,you know, or door not quite
carefully aligned.
You will have 40 or 50 items onthat inspection report.
I promise you and this is aboutpsychology, it's not about a
transaction when a buyer'scoming in, often from somewhere
else, they're already a littlebit nervous.
We just had an election thatmade people excited and nervous.
(06:54):
Now we're through that.
I understand that people arestill nervous about what is
happening with the housingmarket, what is happening to the
economy in general.
People are nervous.
So when they see that inspectionreport and there's 40 items on
it, by the way, that's normal.
But they don't know that theymay have not bought a house in a
very long time.
(07:14):
So now you're faced with thisinspection report as a buyer,
you're already a little bitnervous anyway.
You're like, ah, maybe weshouldn't buy this house, honey.
And guess what, if honey A wasthe one that said I want house A
and honey B?
The partner said I want house Band honey A got the house and
(07:35):
now it's got all thoseinspection items on it.
Do you think that might be alever to say, you know what,
maybe we should go back to houseB, honey.
You know what?
I'm the honey do person aroundthe house.
So maybe we should go to HouseB and they pull out.
All they've lost at that point,guys, is the due diligence
money they put down.
If you need to know more aboutthis, give us a call,
(07:55):
828-333-4483.
The due diligence money they'veput down that's what they're
losing at this point, theearnest money.
As long as they pull back outin the and remember, things
happen differently all aroundthe States.
If you're listening to somewhereelse, so get with your trusted
realtor.
I'll get them to you.
Just give me a call,828-333-4483.
(08:16):
We will find them for you.
Or you can go to cashcpocomcashcpocom If you want to get
that cash offer and find youragent yourself.
There's a button on there thatsays find my agent anywhere in
the country or Canada.
They're all heavily trained inhow to do this, including how to
get the inspector in.
Not all agents can do this, guys.
(08:36):
I've been running a coachingprogram since 2007 showing
agents how to do this.
I wrote a book about it, whichwent bestseller overnight for
agents because they wanted toknow the scripts.
The scripts are how do we talkto you, the public, about what
we're doing?
How do we actually do it?
How do we find the right people?
What's the process for doing it?
So it's not just somethinganyone can do Otherwise I guess
(09:00):
I'd be out of business, becauseeverybody would be doing it and
there are some people that justcan't take the time to do it.
I think that's why some agentsdon't do it because they can't
take the time to do it, becauseI don't know why you'd list a
house any other way.
Honestly, our dropout ratedrops to 7% from 33%, so why
would you do it a different way?
I don't know.
It doesn't make sense to me.
(09:25):
So let's jump into the variousprograms.
We're going to start off withsenior living.
You'll know if you listen on aregular basis.
I've done many shows aboutsenior living.
Today we're going to coversenior living.
We're going to cover builders.
If you're a new home buyer or abuilder, we're going to cover
flip CPO, that's if you are aflipper, if you're an investor,
we just added a new program foryou as well.
(09:45):
Maybe you're thinking aboutgetting a divorce.
I hope not, not on Valentine'sDay.
We've got the Divorce CPO Forthose of you who are heirs, and
you've got an estate that youmay have had for a very long
time.
I understand it's hard to letgo when you inherit a home
sometimes, but for those of youwho have, we've got an Estate
CPO program.
Sometimes, but for those of youwho have, we've got an estate
(10:09):
CPO program.
Those of you who are STRshort-term rentals or
medium-term rentals, which arebecoming more and more popular
we have an STR CPO program.
How about that?
We've also got a bank CPOprogram.
That is for banks and REO assetmanagers.
It could be for you.
If you're thinking about maybethey're trying to foreclose on
you or you're behind on yourpayments, we can get you out
(10:33):
very quickly.
Not always, we've got to checkthat you actually have something
that is going to work for thisprogram.
However, now with the flipprogram, I've got a whole line
of investors everybody who'strained in this around the
country.
That's why you need to go tocash CPOcom.
If you need an agent, you needsomeone trained in this.
That's very important.
(10:54):
If you don't qualify for one ofthese programs, now we have a
program we can use, which is theflip program.
We have to put 10% down.
It's a really great one.
Credit score is not an issue.
You have to be able to showproof of funds for the 10%, and
then 10% of whatever theremodeling funds are.
Our funding partner does therest, and then you get to flip
(11:15):
the home and make the profit, ifthere is any profit.
What that allows us to do is,if you're facing foreclosure or
going through a divorce, youdon't want to be flipping homes
or anything else.
We now have a product that wecan pretty much solve your every
need.
Unless you're underwater onyour mortgage, we should be able
to get you out very fast.
(11:37):
And remember, we're not tryingto steal your house here.
We're not one of those cashoffers.
We're not a cash offer wherewe're coming in and trying to
take your home for $5 on the$100 because, well, it can't be
pennies, can it?
That's just kind of sad.
Who's sad about pennies?
Oh my gosh.
Okay, so did I cover all ofthem there?
(11:59):
Bank CPO I think I missed ReloCPO.
So Bank CPO, that's a bankscenario.
Asset managers and then Imentioned if you're facing
foreclosure or you're late on apayment, don't be embarrassed,
guys.
So many people are goingthrough this.
Foreclosures are rising rightnow.
I want you to give me a call.
We've got receptionists on theline, 24, seven, doesn't matter
(12:22):
if you're listening to this onthe line 24-7.
Doesn't matter, if you'relistening to this after the
event, give us a call828-333-4483, 828-333-4483.
And I will help you.
I promise there's also ReloCPO,so this helps out corporate
relocation clients and companieswho are relocation companies.
(12:44):
So if you're relocating, thatcan be very helpful.
And last but not least and itwas so great last week when live
we did the Tenor Tower show andwe had the VP I was so grateful
for that.
I was so honored to do thatshow First responders and
veterans.
So this is the T2T CPO program,heroesmlscom if you want to
(13:07):
look at more on that, I'm goingto go do a deep dive on all of
these guys shortly.
So that's where first we workwith first responders and
veterans.
There are all kinds of discountprograms for them that we use.
We also sign up for TenorTowers and give them a one-year
subscription.
It's $11 a month, but everylittle bit helps.
(13:29):
On my team, for example, we'reheading for a million dollars.
We're about $850,000 on mylittle old team in my little old
town given back to firstresponders.
Very proud of that, veryhonored really to be able to
support people who gave thegreatest sacrifice and certainly
their families did too.
So a big thank you to all ofyou out there.
(13:52):
And now for the rest of the show.
We're going to take a deep diveat what all of these programs
are about.
Let's do a deep dive intoSenior Living CPO and what that
looks like.
Dive into Senior Living CPO andwhat that looks like.
So the Senior Living CPOprogram provides seniors with a
full market value cash offer.
This ensures a smoothapparently not for my voice, but
(14:16):
ensures a smooth andstress-free transition into
whatever senior living communitythey're going into.
So one of the biggest challengesseniors face is securing that
spot on the waitlist whilethey're waiting for their home
to sell.
You know, you can imagine howdo they know when to sell their
(14:37):
home?
Because they don't know whenthey're going to come off the
waitlist.
It is a real problem, and whattends to happen is they've been
on the waitlist, for we have onein Asheville that's eight years
long, believe it or not.
They come off that waitlistbecause the marketing manager
calls them from the seniorliving community.
They've been waiting for a year, two years, three years, and
(15:01):
they're so excited because like,hey, jamie, you're off the wait
list.
Come on, let's go, we've got aplace for you.
Finally, we've got a place foryou, which is fantastic, right.
But the problem is that overalmost 90% of seniors almost 90%
have to sell the house to beable to afford to live.
In the senior living communitythere are all kinds of programs,
(15:23):
reverse mortgages, all kinds ofthings you can do, but none of
them are as effective asactually getting the home sold.
So the issue is how do theseniors know when to list their
home?
That's where we come in at theSenior Living CPO, with the
Senior Living CPO program.
That's where the Senior LivingCPO experts can help.
So with the Senior Living CPOprogram, that's where the Senior
(15:44):
Living CPO experts can help.
So with the Senior Living CPO,seniors can press that button
just 14 days before moving.
So it takes 14 days to get themajority of their equity, and
that allows them to move withconfidence.
They move in, we remodel andrefresh the home.
They're not paying anything forit.
At this point, the money isup-fronted.
(16:05):
And why are we doing that?
To maximize the value.
You know, whomever you are youdon't have to be a senior that
if we go in and refresh the home, maybe it's just a fresh coat
of paint, maybe it's a deepclean.
It could be as little as a deepclean.
Usually there's going to be morethings than that, because
that's where certified pre-ownedcomes from, because we're going
(16:26):
to do the inspection and theappraisal and things will most
likely come up in there.
On average, you've got 50things on an inspection report.
That's why over a third ofcontracts fall out.
Guys.
People don't tell you that, Iknow, but that's why over a
third fall out.
So you know, this takes thatoff the equation.
They still fall out, but it's7% of the time.
(16:47):
So that's a big deal.
When you have a contract thatfalls out, that is known as a
stigmatized listing.
That's not good.
So once the home sells, theyreceive a second check with
two-thirds of the sellers makingmore than with a traditional
listing sellers making more thanwith a traditional listing.
However, unlike a conventionalsale, imagine the average age of
(17:08):
going into a senior livingcommunity, and of course this
varies.
I've known people go in intheir 50s because they're
dealing with dementia, earlyonset Alzheimer's or something
like that, but the average ageof going into a community is 84.
Imagine being 84 and showingyour home, having all those
showings, the sign outside, theagents coming in and out the
text to say can you show yourhome tomorrow?
(17:29):
So our expert team and ourexpert team is led by senior
living CPO experts these are theagents who can come into your
house now, even if you're on await list, right?
So maybe you're waiting outthat year, that's fine and take
a look at your home with a viewto okay, how does this need to
be set up?
Do we need to do anything?
(17:50):
Not while you're there.
We don't care whether it's tidy,untidy, where we'll love your,
your little dog, sophie, that'srunning around barking her head
off.
Um, that's my little dog, bythe way.
We'll love your little dog.
They'll smell our little dog.
Everything will be fine.
You can have dishes in the sink, we don't care, we're agents.
Seriously, we see.
By all of that, that goes forall of you who are thinking of
(18:12):
listing in the spring as well.
Stop worrying about gettingyour home perfect.
We're agents, we don't care.
We might say, oh well, you knowyou should clean up the dog
beds or something, or do this,do that, but but we're not going
to, you know, judge you oranything.
Trust me, any of us who aresuccessful are so busy that our
houses are a complete mess.
Any agent will tell you that.
(18:32):
So our expert team, led by thesenior living CPO experts, along
with senior attorneys, we builda team guys.
We call them the senior lifeexperts.
So those are senior lifepartners, so those are senior
attorneys.
They're clutter bustercompanies, they're home
clearance specialists and allthose details get handled.
(18:56):
We take a lot of the stress outof it.
So, for those of you who'vebeen thinking about this, I want
you to think we're not going togo, oh, come on, you need to
sell it now or anything else.
We're not those people.
That's why I've been verycareful in building this network
that we get the right kind ofagents that's very important
that serve with a heart, thatare serving from the right place
(19:19):
.
It's very, very important.
So let's move on now to adifferent topic the builder CPO.
So the reason I wanted to dothem all together today is, you
will see, a common theme on howall of these work.
The builder CPO is very cool,so what I was looking to do when
we were coming up with thesedifferent themes in the first
(19:42):
place is figure out how could weuse this wonderful product in
different ways.
So it's not just, you know,some skeezy cash offer, like we
talked about before, it's taking.
Well, they're not skeezy, it'sa business model.
I'm sorry you guys who wererunning the cash offer model,
there's nothing wrong with that,it is a business model.
This is a full market valueoffer, so, okay.
(20:04):
So the Builder CPO what is thatabout?
So the Builder CPO programprovides homeowners with a full
market value cash offer Shocker,solving one of the biggest
challenges for home builders andfor buyers of new homes.
Here's the problem Hitting themove-in deadline.
I can see you rolling your eyesout there if you've been
(20:25):
through building a new homes.
Here's the problem Hitting themove-in deadline.
I can see you rolling your eyesout there.
If you've been through buildinga new home, or if you're a
builder, you're rolling youreyes at me because you know how
difficult that can be to hitthat deadline.
Material delays, labourshortages, weather, maybe the
ports have closed down, maybethe tariffs have taken effect,
(20:46):
who knows?
It can make it really difficultfor you as a builder to provide
that exact closing date.
In fact, I've never known abuilder who can provide an exact
closing date.
It's just not possible becausethere are there are too many
things that might happen.
Okay, so if you're building anew house are too many things
(21:06):
that might happen.
Okay, so if you're building anew house and you're selling
your previous house noteverybody's doing that.
Some people are building a newhouse as a second home.
But if that's what you're doing,and you're building a new home
and you need to get yourprevious home sold, what on
earth do you do?
When do you list it?
You know you're probably busygetting this bit done and that
bit done and this bit cleanedout and you're not sure what to
remodel.
(21:27):
If you need to remodel anythingto get it sold, or your friends
come in and said, oh, youreally need to do that kitchen
and now you've got half yourbathroom ripped up.
Guys, please, just stop already.
Please, please, please, get anexpert agent in.
I can put you with the rightagent anywhere in the country.
Of course you'll get me.
If you're local, you might getClarissa, who's my partner, out
(21:50):
there with me.
You'll get two of us for theprice of one.
You will get an expert agentthat knows what they're doing.
Stop remodeling, because themarket is flattening.
This is to everybody who'sselling.
The market is flattening, ifnot reducing, in a lot of zip
codes and of course you know,depending where you're at, I can
give you that information.
I can actually get thatinformation for you anywhere in
(22:11):
the market right now.
So 828-333-4483, 828-333-4483to find your expert agent
anywhere.
Maybe you like to heck with it.
I don't want to talk to you orany darn agents anywhere in the
(22:32):
country, I just want my cashoffer.
Okay, that's fine, go tocashcpocom.
Cash C-P-O.
That stands for certifiedpre-owned Cashcpocom.
You will end up through thisprocess with a certified
pre-owned home and you won't bedoing the improvements, you
won't be paying for them upfront.
It will come out of the profitswhen we sell it and you'll get
(22:54):
the majority of your money upfront.
So if you don't want that signoutside, you don't want the
lockbox on the door, you don'twant to deal with pescadians,
you can go to cashcpocom.
Cashcpocom C-P-O.
Charlie Peter Orange I'm surethat's not the right terminology
for the letters, but oh, wow,you know what I mean.
So back to the builders.
(23:14):
Homeowners can press the button.
You know what I mean.
So back to the builders.
Homeowners can press the button.
You know what's going to happen.
You're all going to be able tojust talk about this soon,
because some of this is verysimilar, of course.
So homeowners can press thebutton 14 days before the co now
.
So the builder at some point isum is going to be working
(23:35):
towards their certificate ofoccupancy.
You have to have that beforeyou move into a new home.
It's called the CO certificateof occupancy.
Most builders will tell youwith a 90% certainty that
they're going to get their COwithin 14 days.
Guess what that means?
When you're building a new home, you can press that button 14
(23:56):
days before the move in andcompletely align it with getting
that certificate of occupancy,which means it takes all the
stress off, guys, and we canmove you into your new home,
move all your furniture in.
You don't have to move twice.
You don't have to rentsomewhere in between.
You don't have to live in youryou know parents' cottage or
your kid's bedroom or basementor something you can move right
(24:19):
in, and we will then get intoyour house that you're selling
and make the most money for you.
We'll upfront the money to dowhat we need to do.
We're agents, we know whatwe're doing.
We'll talk to you and you'veprobably got a honey-do list.
You probably know already whatneeds doing on there.
You've probably got a honey-dolist.
You probably know already whatneeds doing on there.
(24:40):
So that is so important.
Quit rebuttaling, quit worrying, quit stressing about when
you're building your new home,about you know how you move
twice and get in there.
That is not fun at all.
So let's talk about somethingthat is very new.
It's new actually it's calledthe flip cpo.
You can get, you can go tocpoexpertscom forward slash
(25:06):
programs to see all of theseprograms and get more
information.
You can go to any one of theprograms.
So you can go to flip cpocom,the one we're talking about
right now, if you want.
At top you'll see programs thatwill bring all of these
programs up.
So if, for some reason, youdon't qualify for any of these
other programs, I can find anagent for you that either will
(25:29):
buy it themselves or will haveone of their investors buy it.
And guess what?
It's still a full market valuecash offer.
So the Flip CPO program providesreal estate investors with a
full market value cash offer.
Right, so we can come to youwith, maybe for some reason,
(25:50):
maybe, your mortgage, remember.
You get most of your equity upfront and then we sell the house
and then you get another check.
That first equity check has gotto pay your mortgage off.
So what happens if your houseis worth 500 and your mortgage
is 499,000?
Well, you know, if we're givingyou 350 or 400,000 up front,
(26:10):
that only leaves you with 100,which won't pay off the mortgage
.
So if, for some reason, you'reunderwater on your mortgage or
you don't have any equity inyour house, you might not
qualify.
But we do have this flip CPO.
What that does is it just buysit.
Basically, maybe you want toflip homes, maybe you are an
investor.
You don't have to be an agent.
(26:30):
You could just be an investorand use our flip CPO, what it
does.
You've got to have 10%.
This credit score is not anissue.
They want to see proof of funds, it does.
You've got to have 10 creditscore's not an issue, they want
to see proof of funds.
So you've got to have proof offunds for 10 of the home's
purchase price.
Let's say it's 400 000, soyou've got to have 10 of the 400
000.
You've got to have 40 000 toput down.
Does that make sense?
(26:51):
So, um, 10 000 for every 100000.
So maybe you're buying amanufactured home because you
want the land and you want toflip the land.
Maybe it's 20 acres and, yes,this does exist all the time
locally.
So you've got an oldmanufactured home that's been
there for donkey's years.
It's got a great septic.
(27:11):
It might be a double wide.
So it's got a three bedroomseptic.
It's got a well on it.
It's got a well on it.
It's got a driveway.
It's got incredible views.
But the trailer's 30 years oldand of very little value.
So it could be that you knowit's on 10 acres, say, with
great views, and we can buy itfor 200,000.
So if you've got that 20 to putdown and you show proof of funds
for that, and if you'reconfused by this, what you'll
(27:33):
find is actually, you know, ourheadquarters is located in
Asheville, north Carolina, andwe say there's money in them,
there hills, because you knowpeople judge a book by the cover
sometimes and it doesn't matterif you've got credit issues or
not credit issues.
You can have millions ofdollars and have credit issues.
(27:54):
You can have 200 grand in thebank and not have the greatest
credit score to get a regularloan, you know, since the banks
have tightened up.
So what this provides is thatyou have to have proof of funds.
Now why does the fundingpartner do that Is it kind of
skeezy, you know, and gettingpeople into trouble.
It's really not, because thewhole idea is that you go in as
(28:16):
the investor, they will up frontyou the money this is
flipcpocom.
They will up front you themoney to purchase the home.
So we go let's say it's atrailer on 10 acres, right, and
it's an old trailer and you wantto.
But maybe you're a home builder, you want to build a home on
there and you're going to sellthat home, but you don't want to
take all the risk and you wantto borrow the money.
(28:36):
This is a program where youborrow that money.
You put 10 down, we're going tobuy it for 300, say, we put 30
down, and then you've got um andwe need um.
We're going to remodel itbecause the trailer's not that
bad, so we need five thousanddollars for that.
You need 10 to that.
So you need another 500.
So you need 10 of the remodel,10 of the home purchase price
(28:56):
and proof of funds to show that.
And then what happens is youget the money, buy the home,
remodel the home.
Our funding partner willupfront the money for the
remodel and you know, then we'reensuring that they're securing
deals without delays is thewhole game here.
Once the home is remodeled andsold.
(29:18):
This is not to hold a propertyand to rent it out.
This is for flipping a property.
That's why it's called flip CPO.
Once it's remodeled and sold,the investor gets the profit on
the upside.
So agents like this as well.
A lot of real estate agents arealso.
I don't know about a lot, butsome real estate agents are also
investors.
So once the home is remodeledand sold, they get the profit on
(29:40):
the upside.
And if you're an agent investor, you also get the listing,
because then you're going to getthe listing and sell it.
So you've got the control ofdoing that, which is very nice,
obviously.
So I just want to remind youthat, however you want to sell,
it is fine.
Our network of agents is amazing828-333-4483.
(30:04):
Anywhere in the country, we'vegot an amazing network for you.
Or you can go to cashcpocom andclick on find agent.
You'll find the agent rightthere.
If you don't want to talk to apesky realtor I'm not pesky, I
won't pester you, I promise.
However, if you just want to goon there and find your agent,
you can do that too.
And listen, we're going to giveyou a choice.
(30:24):
We want to do what's right foryou.
So in all the families I'vehelped since I've been in real
estate, I've got over what I wastotaling up.
I've never done it beforebecause I'm just not, I don't
know, money driven or something.
It's probably my problem Mightbe my Achilles heel, one would
say.
So I'm at 1.3 billion worth involume of real estate.
(30:48):
That means that's a lot offamilies.
There's over 3,500 familiesthat I've helped.
If I were doing it in the wrongway or giving them information
about I don't know, somethingthat was just going to help me
get a commission check, Iwouldn't still be doing this.
So I think you can have sometrust in what I'm saying here.
So all of the agents around thecountry can do it any way they
(31:12):
want to, and our three core waysof doing it, just to reiterate,
are a conventional listingMaybe you've just tuned in,
maybe you're on the way to thegrocery store in your car is we
can do a conventional listing.
Nowhere is it all.
They drop out.
It's not us guys across thecountry.
That's why, when I got intoreal estate, I didn't understand
this.
I don't understand why it'sdone this way.
(31:33):
They drop out a third of thetime.
That's a lot.
Another great option is acertified pre-owned listing.
That's where you, as the seller, pay for the inspection.
You have an appraisal.
Sometimes, as we're nowslipping in the market again, an
appraisal would be a good idea.
(31:53):
They measure it for you.
Get all the right measurements.
It gives you the best idea ofvalue instead of Bobby down the
street telling you what.
Get all the right measurements.
It gives you the best idea ofvalue instead of Bobby down the
street telling you what hethinks it's worth.
Please stop listening to thatstuff.
Please stop going on and doingauto valuations and going well,
zillow says it's this.
No, let's get you really goodpricing.
This is the biggest, probablythe biggest asset you have not
(32:14):
for all of you, but for mostpeople, this is your biggest
asset.
Let's price it right.
Pricing it right when you'reselling it also is extremely
important, because you don'twant it sitting there past 30
days, which is what's happeningto a lot of houses now.
The market is different, guys,and it's not just oh, you know,
trump's in now, so everything'sgoing to be fine.
It doesn't work like that.
(32:35):
The you know economic cycle isthe economic cycle.
Seven to 11 years.
Does it have an effect.
Yes, however, you know pricesare going to be flat or
declining.
You just have to trust me onthat.
Well, it might go up a littlebit, flat by flat.
I mean we might add 2%, wemight lose 5%, like we're
bumping along.
So if I were you, I would nottake that risk.
(32:58):
So now we've got two options.
We've got a traditional listing, old fashioned listing.
They drop out 30% of the time.
We've got a certified pre-ownedlisting.
That's where we do a little bitof work and spend a little bit
of money up front getting theinspection, getting the
appraisal.
You don't have to get theappraisal, but I strongly
recommend it.
I would say you have to get theinspection.
It's a no brainer.
500 bucks yes, that's a lot ofmoney.
(33:21):
I get it.
But those are the issues.
The appraisal and theinspection are the two things
that cause it to drop out athird of the time.
Let's take that off the table.
Let's reduce that to 7%, whichis what happens with a certified
pre-owned listing.
That's, I promise you, what youwant.
The third one is now a hybridof certified pre-owned, which is
(33:44):
a cash CPO, cash, certifiedpre-owned.
That's where you get cash outfirst.
You can move out in 14 days, 90days, your choice.
You move out later than that ifyou want to.
You want to press that button.
That was my sound effects there.
You want to press that buttonwhen you're ready to close in 14
days.
That's the idea.
(34:05):
But we can line all of that upfor you.
We'll go through all of thatwith you.
So you take your money up to70%, you move right, you're out
of the house.
You've gone through all thestuff.
You've not got people traipsingaround your house, looking at
your house, going, hey, there'stoo many photos.
I don't know it.
Just it doesn't look quiteright.
I can smell their dog.
(34:26):
I can smell their cats.
They've got a cat.
I'm allergic to cats, I'mallergic to dogs.
Looks like kids were in thishouse and you can tell.
I've shown a lot of peoplearound houses, right, I've heard
it all.
Well, there's crayon on thewalls, the walls are green.
Yes, really, I heard that Idon't want this house because
the walls are green.
I've heard that and roll youreyes because, yes, it's just
(34:46):
paint.
But that's how people think.
They want to walk in these daysto an HGTV home.
That's as done as possible,unless they're an investor, of
course.
Then they want to go into ahome where they can see that a
lot of value can be added.
So with a cash CPO you'removing on.
We've got you out, all yourfurniture's out, you've gone
(35:07):
through the stuff, you've donethe painful bit of moving and
now we can get to work onsprucing up your house, can get
to work on sprucing up yourhouse.
So that might be a deep clean.
It might be painting the inside.
It might be putting a new roofon.
It might be putting anotherline on the septic.
It might be redoing the septic.
(35:28):
Yes, we've done all of these.
It might be a complete kitchenredo.
We've just done one of those.
It might be painting thekitchen cabinets.
It might be a week of work.
It might be a month of work.
Occasionally it will be longerthan that, not usually.
We do the work because you won'teven recognise your house.
Quite frankly, you'll probablywant to buy your house back, but
(35:49):
I'm finished with it.
And then we list it and sell it.
And yes, there's a fee from thepeople we borrowed the money
from.
Of course there is.
But just think about why houseflipping is so popular.
Think about why all these HGTVprograms are so popular.
It's because people love toflip houses.
(36:11):
It's not unusual at all.
Right, people want to go in andgo.
Oh, I like the light fixture.
Oh, I like the hardware on thecabinets in the kitchen.
Oh, I love the new courts.
It all feels fresh and new, itdoesn't smell, there's no dogs
running around and, what's more,is the home seller.
You don't have all the stressof that, you can just watch from
(36:32):
afar.
With all of this happening, twothirds of sellers make more.
With all of this happening, twothirds of sellers make more.
On average, people make between90 and 120% of what you would
with a conventional sale.
That's two thirds make more.
So most of it's going to comeout to wash.
Many people that I talked towould even choose if I said okay
(36:52):
, your house is 500,000.
So let's put it in Russianroulette here so when it's sold,
you're you know, because acouple of things that need doing
you're probably going to get475.
And then, when it's in thecontract and right now you're
going, no, I wouldn't take that,I'm just going to hold out for
the 500.
Okay, remember I'm the girlthat 1.25 billion, that's
(37:13):
billion, not million.
I, that's billion, not million.
I don't say that to brag, Itell you because I've got
probably more experience thanyou.
Chances are I've got moreexperience than probably I'm in
the top three in Asheville withexperience of selling that many
houses.
So with that established, I cantell you that it's really worth
(37:36):
spending a little bit of timegetting it done.
And I'm not just telling youprices like is that 500 and
you're going to get 475, andjust making stuff up Like I've
seen so many.
I know that's probably whereit's going to come down.
And then you're under contractand you're you know you've got
the moving trucks ready.
You're going to Florida, you'regoing to Arizona, you're going
(37:58):
down the street, wherever you'regoing Going into senior living,
getting divorced, having a newbaby, needing a bigger home,
whatever is going on, gettingmarried and combining two homes.
And then you're under contractand a week before it closes
because, by the way, that's whenit happens it is not fun A week
or two before it closes, thebuyer's agent calls and says,
(38:18):
hey, we've done the inspectionand we've found x, y and z, and
then you know we got someestimates on it.
If you're lucky, they probablywon't get estimates on it.
Um, and you know my buyer'sdone some more investigations
and they're really worried aboutthe radon, or they're really
concerned about the crack in thewall outside that it might
collapse or whatever it is.
(38:39):
We want another $25,000 off.
I'm not kidding guys, thishappens all the time, all the
time.
So you've got to go throughthat hassle too.
So on a 500, you might end upat 460 475, right?
So when I'm quoting you, 90 to120% with a cash offer, now it
doesn't sound so terrible, doesit?
So if I said to you okay,you're at 500,000 and on average
(39:04):
you're going to get between 90and 120%, I don't know which
route would you choose.
I know which one I would choosebecause there's no showings,
there's no signs.
There's no signs.
There's nobody coming into yourhouse, there's no texts up
morning, noon and night.
Hey, can we show your house at10 am?
You know, come back with Y foryes or N for no.
(39:26):
All that goes away.
It's out of your hair.
What you have to concentrate onis where are you going next,
that thing that drove you tosell your house in the first
place.
Quite frankly, if you can'tthink that way, you should
probably think twice aboutselling, because you may not
really want to sell.
You may be just dipping yourtoe in and not really be serious
(39:47):
.
So I'd think about that reallyreally carefully if that's not
where you're at with it.
So let's go through a few moreof these programs.
Can you believe that we've onlygot that time left?
I just don't know where it goes, guys.
It's amazing.
We've got about 10 minutes left.
I just don't understand.
It's crazy.
So the flip is for investorsand agent investors.
(40:08):
And then we've got the DivorceCPO DivorceCPOcom if you're
divorcing.
So the Divorce CPO programprovides homeowners going
through a divorce with a fullmarket value cash offer.
So this is more fair, it'sfaster and it takes a lot of the
stress out of it.
Divorcing couples often facedelays, disagreements, financial
(40:32):
strain when they're looking tosell it the traditional way.
So this simplifies the process.
The person that's still in thehome can have 90 days, 60 days,
30 days, 14 days if you want, ifthey're ready to get out and
move on 14 days, you can get themajority of the equity.
(40:53):
Now, especially with divorcingcouples' homes, those homes can
be a bit unloved because youknow a divorce doesn't come
overnight generally.
Sometimes it does.
You know a divorce doesn't comeovernight generally.
Sometimes it does.
You know if somebody's cheatedor something.
But generally divorce doesn'tcome overnight.
So things have been leading upto that and you haven't been
remodeling the kitchen, maybeyou haven't.
That's cause of divorce, that'sall of the show.
(41:15):
Maybe that led up to thedivorce, who knows?
Actually those financialdifficulties really count.
But generally the houses that wesee in a divorce sometimes how
do I say this?
Can be a little bit battered.
You know, there's often a momleft with the kids in the house,
or mom and the kids have movedout and everybody's just not.
(41:37):
Obviously it's a difficultsituation to be in those houses.
We can go in and freshen up andput a bit of life and a bit of
love back in them.
Let's say it as it is and thenresell them and get more money
for the parties and then it'ssplit up.
You know, according to theattorney, we work with the
divorce attorneys on thoseobviously, so it works really
(42:00):
well for divorce.
Then we have estate CPO.
So the estate CPO programprovides heirs and estate
executors with a full marketvalue cash offer Shaka, you're
hearing that one over and overagain.
So again, this is faster, it'smore fair and it takes a lot of
the stress out of it.
(42:20):
You've usually got a number ofsiblings.
It might be during probate orin inheritance proceedings,
depending on how you've set upyour trust.
If you haven't set up yourtrust, please do that,
especially if you're older andyou've got people to leave
things to.
If it's a trust, it does.
You know, in most cases.
I shouldn't be advising on thisbecause I don't have this legal
background, but it takes a lotof that out of it.
(42:42):
Talk to the people who wouldset that up for you.
There might be multiple heirs.
You might be squabbling.
You might be squabbling overwhich agent does what and who's
going to be the real estateagent and all of that stuff.
That takes all of this out ofit.
You get the majority of theequity within 14 days, so it
allows the heirs to move forwardwith the majority of the money
without those delays or disputes.
(43:03):
Right, and then we sell.
We go in almost always in thatcase because you're generally
dealing with somebody that'ssuddenly passed or somebody
that's older.
So generally we can add quite abit of value to those homes,
which means that the heirs aregoing to make more money because
we can go in.
Generally, we can go in andfreshen it up, we can do
(43:24):
whatever that needs to be done.
You know, it might just be asimple thing like painting the
cabinets and putting somehardware on and maybe putting
countertops on, maybe justspending $10,000.
But we can get $50,000 morebecause nobody wants to do
anything these days.
It's been like that for a longtime, guys, honestly.
So you know, just think aboutthat when you're selling and
obviously you don't want peoplegoing into a house where
(43:47):
somebody's passed or you've gotall your heirlooms in there, or
the kids are coming back fromwherever they're coming I always
say San Francisco for somereason, but wherever they're
coming from Austin, texas, ordown the street or Raleigh,
picking through all the things,it gives a house an energy.
You don't want that.
(44:08):
Let's get it all out.
Let's put it in storage.
If we need to Remember, we havethat team to help you.
We have the people that auctionthe furniture off.
If you want, we will help youhandle all of that.
We've got people very welltrained that put the team
together.
So the expert team led by theestate CPO experts, along with
the probate attorneys, thecontractors, the real estate
professionals, they handle allthe details and it gets an awful
(44:31):
lot less stressful and a lotmore seamless for the heirs
involved.
So let's move on to short-termrental owners.
So this is STR CPO.
Again, rowena Patton, here onthe Real Estate News Radio, you
can give us a call 828-333-4483,828-333-4483.
(44:54):
And we will help you find anagent or an expert team anywhere
in the country.
You can also go to if you wantto see all of these programs.
Cpo for Certified Pre-Ownedcpoexpertscom forward slash
programs will bring them all upin one place for you.
So this is strcpocom short-termrental CPO.
(45:15):
So there are short-term rentalowners out there that might own
six and the number six is theleast performer and they want to
get it sold.
However, here's the deal whenyou have a short-term rental,
the last thing you want is asign outside.
Why?
Because it hurts your sales.
Right, that makes sense.
The real story in STRs is thatyou make most of your money in
(45:37):
year two and onwards becausepeople come back.
You get the repeat visitors.
The last thing you want and andit's a business, think of it as
a business you know that's uh,you're looking at how much money
does the business make, howmany?
How much uh income do you makefrom the rentals each year?
So year two, that's often quitea bit more.
The last thing you want is asign outside where your repeat
(45:58):
visitors, who love coming backto your short-term rental, stop
coming because you've got a signoutside.
What are you selling it?
No, you can't sell it.
So we go in, we make the offerit sells, we continue all of the
rentals as much as we can,unless it needs a full remodel
and the short-term rental ownergets to make a bid on a
(46:20):
different short-term rental intheir portfolio.
Maybe they've only got one,maybe they just don't want it
anymore.
Same thing, but at least wekeep all of the bookings going
while that is going on.
Does that make sense?
So let's show in our last goshsix minutes here, let's show how
well it works for banks and REOasset managers.
(46:41):
So the bank CPO programprovides banks and financial
institutions with a full marketvalue cash offer.
So most often so.
Banks believe in foreclosing onhomes all of the time.
That never stops in high timesand low times and it's starting
to happen more again.
So these are distressforeclosed or REO bank owned
(47:01):
properties and managing them canbe very time consuming.
If you've ever gone to purchasea bank owned property, you'll
find it looks terrible.
Often the windows are smashedand people get pretty ticked off
when the home is foreclosed.
I mean, understandably, right.
So we go in, we buy.
You know the drill.
The bank will get up to 70%right away.
(47:23):
So they've got this bigportfolio.
We'll give them 70% right away.
Up to 70%, we go in, wemaximize the value of the house.
In this case we can probablyadd 50 to 100% I'm not kidding
at least 50% on the home,because when they're distressed
they sell for a lot less moneyand they take a long time to
sell, especially in a decliningmarket.
(47:45):
So banks love this program.
Let's talk about ReloCPO.
Relocpocom.
This is for relocatinghomeowners.
We can do the full market valuecash offer.
So if you're moving toAsheville from Austin, texas, we
can give you that full marketvalue cash offer within 14 days
you can take the majority ofyour money, move to Asheville,
(48:07):
get.
You know you're not doing doublemoves, you're not doing
temporary housing, looking for ahouse.
You can go, you can hold ontothe house if you want.
You know we don't have to sellit right away so that you can
still be in it while you'restill looking.
So you're not homeless, becausethat would be terrible.
You can go and stay whereveryou're going and take a look
around and come back to yourhouse if you want.
(48:27):
That's fine, but you can makean offer on your new home
because you've unlocked you know, the majority of your equity
already, so you may still,depending on how much you've
made.
Obviously, you may be able tobuy cash outright, or you may be
getting a smaller mortgage, oryou may be getting a mortgage
and using the money that you gotout to put down again, all
(48:49):
depending how much you got out.
So just makes it a lot easier,a lot, lot lot easier.
So once I finish up today.
I was so honored on last week'sshow and you can find this at
realestatenewsradiocom.
You're listening to the RealEstate News Radio show,
realestatenewsradiocom.
You can send a link to listento anyone in the country, your
(49:13):
friends, if there's one of theshows you think they should
listen to.
This airs live.
It goes out all around thenation.
You can listen in Mars if youwant to.
It's syndicated.
However, if you want to listento the podcast, we take the show
once it airs live.
Randy, our amazing producerthank you, randy, and happy
(49:36):
Valentine's Day, you're myValentine today Uploads it onto
our podcast and you can findthat at realestatenewsradiocom.
Realestatenewsradiocom.
So you just click on podcasting.
You see all this one.
If you're listening to it live,it won't be up for a couple of
hours probably.
So you know, give us a minuteif you can't find it.
But if you want to listen tothe Tunnel to Tower Wars one
last week where the VP came on,he was so amazing, I so wanted
(49:59):
to do it.
In fact, one of I won't callher out because that wouldn't be
fair, but one of my colleaguestoday in the network sent me a
message, from across the countryactually, and she said oh, I
forgot to tell you.
I listened to the podcast ofthe Tunnel to Tower show last
week and I was bawling my eyesout.
(50:21):
It was so moving and I signedup today at t2torg so you may
want to go and listen to thatone.
Just saying you can find it atrealestatenewsradiocom.
Realestatenewsradiocom Justclick, click on the blog posts.
In fact, you'll be able to seeor once you click on the blog
posts there, you'll be able tosee all of the shows that we've
(50:41):
done for years, all kinds ofdifferent topics, which are very
helpful if you do anything inreal estate.
So T2T, the Tenorota Towers,cpo, we call that Heroes, mls,
heroesmlscom.
That's where you can findinformation.
We will give you all kinds ofgoodies, basically if you are a
first responder or a veteran.
(51:02):
Why?
Because we like working withfirst responders and veterans.
This goes on all over thecountry, remember?
You can find your agent,cashcpocom.
If you don't want to talk to apesky agent, that's okay too.
You don't have to.
You can just go to cashcpocomand get your cash offer right
there.
If you want more information,guys, no problem at all.
(51:23):
828-333-4483.
828-333-4483.
Make sure you give us youraddress wherever you are in the
country or you can just go andget your offer yourself at
CashCPOcom.
If you don't want to deal withus pesky agents at cashcpocom,
if you don't want to deal withus pesky agents.
So if you have an agent, youcould ask them to get in touch
(51:50):
with me to be able to do some ofthis.
We actually make a contributionfor you.
We gift you, if you're in thosecategories, an $11 a month
subscription to Ternota Towers.
So over time I told you I'm at1.2 billion I've given back
nearly 900,000 at this point.
So it all adds up and it's agreat thing to do.
T2torg.
Thank you for listening.
Guys, as ever, it's always apleasure to spend my Saturday
(52:14):
morning with you.
Thank you so much.
I love you all and happyValentine's.
You're my Valentine's this week828-333-4483.
See you on the radio next week.
You can find this recording.
It's live right now, but youcan find this recording at
realestatenewsradiocom.
(52:35):
That's realestatenewsradiocom,and you can also find the links
to listen live so you can sharethem with your friends.
A bit late now because we're atthe end of the show, but you
can share it in the future tolisten absolutely anywhere,
whether you're listening on yourtablet or your cell phone or in
your car where else could yoube listening?
(52:56):
I don't know, somewhere throughyour smart TV or something like
that.
Happy selling out there, guys.
Stay warm.
It's warming up now, I know,and here we are.
We're only a month or so awayfrom the beginning of spring.
Who knew Time goes so quickly?
Oh, my gosh, great to be withyou.
(53:17):
See you on the radio next week.
Don't forget, there's no suchthing as a silly question, apart
from the ones that are notasked.
828-333-4483.
See you on the radio next week.
Speaker 1 (53:33):
This has been the Plain English Real Estate Show
with Rowena Patton.
Visit Rowena and post yourquestions at RadioAshevillecom
or call her at 828-210-1648.
This is the Plain English Real Estate Show with
your host, rowena Patton, a showthat focuses on the real estate
market in terms you can easilyunderstand.
Call Rowena now.
The number is 240-9962 or1-800-570-9962.
Now here's the English girl inthe mountains, the agent that I
(00:20):
would trust, rowena Patton.
Speaker 2 (00:22):
Hi everybody.
It's Rowena Patton here, yourfriend in real estate on the
Real Estate News Radio Show.
And today, happy Valentine'severyone.
Even if you're not withsomebody and didn't get a great
big bunch of roses, somebody'syour Valentine.
Think about somebody that justputs a smile on your face and
(00:44):
say happy Valentine's to them.
It will make their day.
Today I'm going to do a deepdive through the various cash
CPO programs, what all thedifferent niches are, who
they're useful for, how you usethem, that kind of thing.
So what is this cash offer?
Well, you've probably heard ofcash offers before and for most
(01:06):
people it gives them a shiver upthe spine because it makes you
think of the companies that buyugly houses, the companies that
have investors that go out tosenior living communities yes,
there really are those and theyoffer the seniors 50 cents on
the dollar, maybe 60 cents onthe dollar.
(01:26):
I promise you that's not whatthis is.
I would never, ever have gotinvolved in it.
In fact, I'm in a top group ofagents around the country and
many, many of them have cashoffer programs.
There's nothing wrong with it.
It's just a model.
It's just something I've neverchosen to be part of, and it's
actually a great model.
You know, you go in as aninvestor.
(01:47):
You buy a house for pennies onthe dollar.
Oh, we don't have penniesanymore, do we?
It's just been cancelled.
You buy it for a dollar on thehundred dollars.
There you go Five dollars onthe hundred dollars and you get
a great deal.
And you, as an investor, go in,usually remodel it a little bit
, sell it for more and that'swhere you make your profit.
(02:09):
Very often these investors areborrowing what's called hard
money.
They've got hard moneyinvestors that charge a really
big interest rate.
Sometimes they've got their ownmoney.
They invest, but very oftenthey're using hard money so they
can't have it sitting for verylong.
So how is our cash offerdifferent?
First of all, it's a completelydifferent product.
(02:31):
It's a full market value cashoffer.
I really do encourage you tolook at this if you're even
thinking about selling your home, because if you're thinking
about selling your home, even ifyou're not thinking about
putting it on the market untilthe spring, that's a whole other
show.
Please, don't wait.
There's more and more coming onright now.
That means you have morecompetition.
(02:53):
If you're thinking aboutwaiting, get us out to take a
look at it.
You can get us out by calling828-333-4483.
And if you're thinking, well,I'm in California.
I can't get you out there.
Actually you can, because we'rein an amazing network it's
called Listing Royalty of peoplewho are trained in these
(03:14):
programs, that know how to usethese programs.
And guess what?
If you don't want it, that'sokay.
All of us offer at least threeways to list, and that's a
conventional or old-fashionedlisting.
You know how those go Go or,even better, what we call a CPO
listing right.
So three choices when you list.
Keep hold of this one.
Grab a pen here I'll give you aminute.
(03:35):
Grab a pen.
So this is my Valentine's Daygift to you, because you really
want to know this if you'rethinking about listing.
Three ways to list, three keyways to list.
There are lots of ways to list,but these are the three key
ways.
One is a conventional orold-fashioned listing.
I can tell you I'm over abillion dollars in sales.
I worked it out this morning,it kind of scared me.
(04:03):
I'm over 1.2 billion dollars insales.
This is not my first rodeo.
I don't say that to brag.
That means I've been blessed.
I have the honor of havinghelped many, many, many families
all over the country in theirreal estate journey and I feel
very blessed and very honoredfor that.
So out of all of that, I'velearned the way to do it and I
can tell you that the vastmajority of those were not
(04:23):
conventional or old-fashionedlistings.
Why, excuse me?
Because when I got into realestate originally I just thought
it was kind of funky the waythings were happening.
Houses dropped out over a thirdof the time not just my deals,
but deals around the countrywith agents that I was working
with.
So a house went under contractover a third of the time.
(04:44):
They fell out.
That's not good guys.
Nobody wants that.
Why?
Because you've got what'scalled a stigmatized listing.
You want to avoid that at allcosts.
What that means is people callus and they say what's wrong
with it and why did it fall out?
They can see you on all thesebig box websites.
They can see it's dropped outand then they're wondering
(05:07):
what's wrong with it and why itdropped out.
So you want to avoid it at allcosts.
How do you avoid that?
Two key ways.
You avoid that.
You do what's called acertified pre-owned listing.
What does that mean?
A certified pre-owned listing?
And these were what I wasexcelling in what I was
specializing in for almost 16years before the cash CPO came
along, and now we do both.
So certified pre-owned listing.
(05:28):
I've been training agents to dothis around the country since
2007.
What you do is your agent willhelp you with this.
If you're a FISBO, let me justtell you the steps.
You have an inspector come lookat your home.
I know some of you are sayingmy home is so well maintained,
it's really beautiful andthere's never going to be any
problems with it and yada, yada.
(05:48):
I understand, and for most ofyou I would agree with you.
Many of you have gotbeautifully maintained homes.
That's not what it's aboutHomes.
Remember, I've done over abillion dollars in sales here.
So what this is about is thatwhen the inspector comes in,
they have to earn their money,and not only that.
(06:09):
Some of the things they'refinding you can't see.
It may be on your roof.
It may be something on yourceiling that you haven't noticed
.
Inside a closet it may beflashing around I mean, these
are very common ones, right,flashing around chimneys, things
like like that.
It may be some moisture in thebasement that's also a very,
very common one some moisture inthe crawl space or something
(06:31):
like that.
It could be a door creaking,you know, or door not quite
carefully aligned.
You will have 40 or 50 items onthat inspection report.
I promise you and this is aboutpsychology, it's not about a
transaction when a buyer'scoming in, often from somewhere
else, they're already a littlebit nervous.
We just had an election thatmade people excited and nervous.
(06:54):
Now we're through that.
I understand that people arestill nervous about what is
happening with the housingmarket, what is happening to the
economy in general.
People are nervous.
So when they see that inspectionreport and there's 40 items on
it, by the way, that's normal.
But they don't know that theymay have not bought a house in a
very long time.
(07:14):
So now you're faced with thisinspection report as a buyer,
you're already a little bitnervous anyway.
You're like, ah, maybe weshouldn't buy this house, honey.
And guess what, if honey A wasthe one that said I want house A
and honey B?
The partner said I want house Band honey A got the house and
(07:35):
now it's got all thoseinspection items on it.
Do you think that might be alever to say, you know what,
maybe we should go back to houseB, honey.
You know what?
I'm the honey do person aroundthe house.
So maybe we should go to HouseB and they pull out.
All they've lost at that point,guys, is the due diligence
money they put down.
If you need to know more aboutthis, give us a call,
(07:55):
828-333-4483.
The due diligence money they'veput down that's what they're
losing at this point, theearnest money.
As long as they pull back outin the and remember, things
happen differently all aroundthe States.
If you're listening to somewhereelse, so get with your trusted
realtor.
I'll get them to you.
Just give me a call,828-333-4483.
(08:16):
We will find them for you.
Or you can go to cashcpocomcashcpocom If you want to get
that cash offer and find youragent yourself.
There's a button on there thatsays find my agent anywhere in
the country or Canada.
They're all heavily trained inhow to do this, including how to
get the inspector in.
Not all agents can do this, guys.
(08:36):
I've been running a coachingprogram since 2007 showing
agents how to do this.
I wrote a book about it, whichwent bestseller overnight for
agents because they wanted toknow the scripts.
The scripts are how do we talkto you, the public, about what
we're doing?
How do we actually do it?
How do we find the right people?
What's the process for doing it?
So it's not just somethinganyone can do Otherwise I guess
(09:00):
I'd be out of business, becauseeverybody would be doing it and
there are some people that justcan't take the time to do it.
I think that's why some agentsdon't do it because they can't
take the time to do it, becauseI don't know why you'd list a
house any other way.
Honestly, our dropout ratedrops to 7% from 33%, so why
would you do it a different way?
I don't know.
It doesn't make sense to me.
(09:25):
So let's jump into the variousprograms.
We're going to start off withsenior living.
You'll know if you listen on aregular basis.
I've done many shows aboutsenior living.
Today we're going to coversenior living.
We're going to cover builders.
If you're a new home buyer or abuilder, we're going to cover
flip CPO, that's if you are aflipper, if you're an investor,
we just added a new program foryou as well.
(09:45):
Maybe you're thinking aboutgetting a divorce.
I hope not, not on Valentine'sDay.
We've got the Divorce CPO Forthose of you who are heirs, and
you've got an estate that youmay have had for a very long
time.
I understand it's hard to letgo when you inherit a home
sometimes, but for those of youwho have, we've got an Estate
CPO program.
Sometimes, but for those of youwho have, we've got an estate
(10:09):
CPO program.
Those of you who are STRshort-term rentals or
medium-term rentals, which arebecoming more and more popular
we have an STR CPO program.
How about that?
We've also got a bank CPOprogram.
That is for banks and REO assetmanagers.
It could be for you.
If you're thinking about maybethey're trying to foreclose on
you or you're behind on yourpayments, we can get you out
(10:33):
very quickly.
Not always, we've got to checkthat you actually have something
that is going to work for thisprogram.
However, now with the flipprogram, I've got a whole line
of investors everybody who'strained in this around the
country.
That's why you need to go tocash CPOcom.
If you need an agent, you needsomeone trained in this.
That's very important.
(10:54):
If you don't qualify for one ofthese programs, now we have a
program we can use, which is theflip program.
We have to put 10% down.
It's a really great one.
Credit score is not an issue.
You have to be able to showproof of funds for the 10%, and
then 10% of whatever theremodeling funds are.
Our funding partner does therest, and then you get to flip
(11:15):
the home and make the profit, ifthere is any profit.
What that allows us to do is,if you're facing foreclosure or
going through a divorce, youdon't want to be flipping homes
or anything else.
We now have a product that wecan pretty much solve your every
need.
Unless you're underwater onyour mortgage, we should be able
to get you out very fast.
(11:37):
And remember, we're not tryingto steal your house here.
We're not one of those cashoffers.
We're not a cash offer wherewe're coming in and trying to
take your home for $5 on the$100 because, well, it can't be
pennies, can it?
That's just kind of sad.
Who's sad about pennies?
Oh my gosh.
Okay, so did I cover all ofthem there?
(11:59):
Bank CPO I think I missed ReloCPO.
So Bank CPO, that's a bankscenario.
Asset managers and then Imentioned if you're facing
foreclosure or you're late on apayment, don't be embarrassed,
guys.
So many people are goingthrough this.
Foreclosures are rising rightnow.
I want you to give me a call.
We've got receptionists on theline, 24, seven, doesn't matter
(12:22):
if you're listening to this onthe line 24-7.
Doesn't matter, if you'relistening to this after the
event, give us a call828-333-4483, 828-333-4483.
And I will help you.
I promise there's also ReloCPO,so this helps out corporate
relocation clients and companieswho are relocation companies.
(12:44):
So if you're relocating, thatcan be very helpful.
And last but not least and itwas so great last week when live
we did the Tenor Tower show andwe had the VP I was so grateful
for that.
I was so honored to do thatshow First responders and
veterans.
So this is the T2T CPO program,heroesmlscom if you want to
(13:07):
look at more on that, I'm goingto go do a deep dive on all of
these guys shortly.
So that's where first we workwith first responders and
veterans.
There are all kinds of discountprograms for them that we use.
We also sign up for TenorTowers and give them a one-year
subscription.
It's $11 a month, but everylittle bit helps.
(13:29):
On my team, for example, we'reheading for a million dollars.
We're about $850,000 on mylittle old team in my little old
town given back to firstresponders.
Very proud of that, veryhonored really to be able to
support people who gave thegreatest sacrifice and certainly
their families did too.
So a big thank you to all ofyou out there.
(13:52):
And now for the rest of the show.
We're going to take a deep diveat what all of these programs
are about.
Let's do a deep dive intoSenior Living CPO and what that
looks like.
Dive into Senior Living CPO andwhat that looks like.
So the Senior Living CPOprogram provides seniors with a
full market value cash offer.
This ensures a smoothapparently not for my voice, but
(14:16):
ensures a smooth andstress-free transition into
whatever senior living communitythey're going into.
So one of the biggest challengesseniors face is securing that
spot on the waitlist whilethey're waiting for their home
to sell.
You know, you can imagine howdo they know when to sell their
(14:37):
home?
Because they don't know whenthey're going to come off the
waitlist.
It is a real problem, and whattends to happen is they've been
on the waitlist, for we have onein Asheville that's eight years
long, believe it or not.
They come off that waitlistbecause the marketing manager
calls them from the seniorliving community.
They've been waiting for a year, two years, three years, and
(15:01):
they're so excited because like,hey, jamie, you're off the wait
list.
Come on, let's go, we've got aplace for you.
Finally, we've got a place foryou, which is fantastic, right.
But the problem is that overalmost 90% of seniors almost 90%
have to sell the house to beable to afford to live.
In the senior living communitythere are all kinds of programs,
(15:23):
reverse mortgages, all kinds ofthings you can do, but none of
them are as effective asactually getting the home sold.
So the issue is how do theseniors know when to list their
home?
That's where we come in at theSenior Living CPO, with the
Senior Living CPO program.
That's where the Senior LivingCPO experts can help.
So with the Senior Living CPOprogram, that's where the Senior
(15:44):
Living CPO experts can help.
So with the Senior Living CPO,seniors can press that button
just 14 days before moving.
So it takes 14 days to get themajority of their equity, and
that allows them to move withconfidence.
They move in, we remodel andrefresh the home.
They're not paying anything forit.
At this point, the money isup-fronted.
(16:05):
And why are we doing that?
To maximize the value.
You know, whomever you are youdon't have to be a senior that
if we go in and refresh the home, maybe it's just a fresh coat
of paint, maybe it's a deepclean.
It could be as little as a deepclean.
Usually there's going to be morethings than that, because
that's where certified pre-ownedcomes from, because we're going
(16:26):
to do the inspection and theappraisal and things will most
likely come up in there.
On average, you've got 50things on an inspection report.
That's why over a third ofcontracts fall out.
Guys.
People don't tell you that, Iknow, but that's why over a
third fall out.
So you know, this takes thatoff the equation.
They still fall out, but it's7% of the time.
(16:47):
So that's a big deal.
When you have a contract thatfalls out, that is known as a
stigmatized listing.
That's not good.
So once the home sells, theyreceive a second check with
two-thirds of the sellers makingmore than with a traditional
listing sellers making more thanwith a traditional listing.
However, unlike a conventionalsale, imagine the average age of
(17:08):
going into a senior livingcommunity, and of course this
varies.
I've known people go in intheir 50s because they're
dealing with dementia, earlyonset Alzheimer's or something
like that, but the average ageof going into a community is 84.
Imagine being 84 and showingyour home, having all those
showings, the sign outside, theagents coming in and out the
text to say can you show yourhome tomorrow?
(17:29):
So our expert team and ourexpert team is led by senior
living CPO experts these are theagents who can come into your
house now, even if you're on await list, right?
So maybe you're waiting outthat year, that's fine and take
a look at your home with a viewto okay, how does this need to
be set up?
Do we need to do anything?
(17:50):
Not while you're there.
We don't care whether it's tidy,untidy, where we'll love your,
your little dog, sophie, that'srunning around barking her head
off.
Um, that's my little dog, bythe way.
We'll love your little dog.
They'll smell our little dog.
Everything will be fine.
You can have dishes in the sink, we don't care, we're agents.
Seriously, we see.
By all of that, that goes forall of you who are thinking of
(18:12):
listing in the spring as well.
Stop worrying about gettingyour home perfect.
We're agents, we don't care.
We might say, oh well, you knowyou should clean up the dog
beds or something, or do this,do that, but but we're not going
to, you know, judge you oranything.
Trust me, any of us who aresuccessful are so busy that our
houses are a complete mess.
Any agent will tell you that.
(18:32):
So our expert team, led by thesenior living CPO experts, along
with senior attorneys, we builda team guys.
We call them the senior lifeexperts.
So those are senior lifepartners, so those are senior
attorneys.
They're clutter bustercompanies, they're home
clearance specialists and allthose details get handled.
(18:56):
We take a lot of the stress outof it.
So, for those of you who'vebeen thinking about this, I want
you to think we're not going togo, oh, come on, you need to
sell it now or anything else.
We're not those people.
That's why I've been verycareful in building this network
that we get the right kind ofagents that's very important
that serve with a heart, thatare serving from the right place
(19:19):
.
It's very, very important.
So let's move on now to adifferent topic the builder CPO.
So the reason I wanted to dothem all together today is, you
will see, a common theme on howall of these work.
The builder CPO is very cool,so what I was looking to do when
we were coming up with thesedifferent themes in the first
(19:42):
place is figure out how could weuse this wonderful product in
different ways.
So it's not just, you know,some skeezy cash offer, like we
talked about before, it's taking.
Well, they're not skeezy, it'sa business model.
I'm sorry you guys who wererunning the cash offer model,
there's nothing wrong with that,it is a business model.
This is a full market valueoffer, so, okay.
(20:04):
So the Builder CPO what is thatabout?
So the Builder CPO programprovides homeowners with a full
market value cash offer Shocker,solving one of the biggest
challenges for home builders andfor buyers of new homes.
Here's the problem Hitting themove-in deadline.
I can see you rolling your eyesout there if you've been
(20:25):
through building a new homes.
Here's the problem Hitting themove-in deadline.
I can see you rolling your eyesout there.
If you've been through buildinga new home, or if you're a
builder, you're rolling youreyes at me because you know how
difficult that can be to hitthat deadline.
Material delays, labourshortages, weather, maybe the
ports have closed down, maybethe tariffs have taken effect,
(20:46):
who knows?
It can make it really difficultfor you as a builder to provide
that exact closing date.
In fact, I've never known abuilder who can provide an exact
closing date.
It's just not possible becausethere are there are too many
things that might happen.
Okay, so if you're building anew house are too many things
(21:06):
that might happen.
Okay, so if you're building anew house and you're selling
your previous house noteverybody's doing that.
Some people are building a newhouse as a second home.
But if that's what you're doing,and you're building a new home
and you need to get yourprevious home sold, what on
earth do you do?
When do you list it?
You know you're probably busygetting this bit done and that
bit done and this bit cleanedout and you're not sure what to
remodel.
(21:27):
If you need to remodel anythingto get it sold, or your friends
come in and said, oh, youreally need to do that kitchen
and now you've got half yourbathroom ripped up.
Guys, please, just stop already.
Please, please, please, get anexpert agent in.
I can put you with the rightagent anywhere in the country.
Of course you'll get me.
If you're local, you might getClarissa, who's my partner, out
(21:50):
there with me.
You'll get two of us for theprice of one.
You will get an expert agentthat knows what they're doing.
Stop remodeling, because themarket is flattening.
This is to everybody who'sselling.
The market is flattening, ifnot reducing, in a lot of zip
codes and of course you know,depending where you're at, I can
give you that information.
I can actually get thatinformation for you anywhere in
(22:11):
the market right now.
So 828-333-4483, 828-333-4483to find your expert agent
anywhere.
Maybe you like to heck with it.
I don't want to talk to you orany darn agents anywhere in the
(22:32):
country, I just want my cashoffer.
Okay, that's fine, go tocashcpocom.
Cash C-P-O.
That stands for certifiedpre-owned Cashcpocom.
You will end up through thisprocess with a certified
pre-owned home and you won't bedoing the improvements, you
won't be paying for them upfront.
It will come out of the profitswhen we sell it and you'll get
(22:54):
the majority of your money upfront.
So if you don't want that signoutside, you don't want the
lockbox on the door, you don'twant to deal with pescadians,
you can go to cashcpocom.
Cashcpocom C-P-O.
Charlie Peter Orange I'm surethat's not the right terminology
for the letters, but oh, wow,you know what I mean.
So back to the builders.
(23:14):
Homeowners can press the button.
You know what I mean.
So back to the builders.
Homeowners can press the button.
You know what's going to happen.
You're all going to be able tojust talk about this soon,
because some of this is verysimilar, of course.
So homeowners can press thebutton 14 days before the co now
.
So the builder at some point isum is going to be working
(23:35):
towards their certificate ofoccupancy.
You have to have that beforeyou move into a new home.
It's called the CO certificateof occupancy.
Most builders will tell youwith a 90% certainty that
they're going to get their COwithin 14 days.
Guess what that means?
When you're building a new home, you can press that button 14
(23:56):
days before the move in andcompletely align it with getting
that certificate of occupancy,which means it takes all the
stress off, guys, and we canmove you into your new home,
move all your furniture in.
You don't have to move twice.
You don't have to rentsomewhere in between.
You don't have to live in youryou know parents' cottage or
your kid's bedroom or basementor something you can move right
(24:19):
in, and we will then get intoyour house that you're selling
and make the most money for you.
We'll upfront the money to dowhat we need to do.
We're agents, we know whatwe're doing.
We'll talk to you and you'veprobably got a honey-do list.
You probably know already whatneeds doing on there.
You've probably got a honey-dolist.
You probably know already whatneeds doing on there.
(24:40):
So that is so important.
Quit rebuttaling, quit worrying, quit stressing about when
you're building your new home,about you know how you move
twice and get in there.
That is not fun at all.
So let's talk about somethingthat is very new.
It's new actually it's calledthe flip cpo.
You can get, you can go tocpoexpertscom forward slash
(25:06):
programs to see all of theseprograms and get more
information.
You can go to any one of theprograms.
So you can go to flip cpocom,the one we're talking about
right now, if you want.
At top you'll see programs thatwill bring all of these
programs up.
So if, for some reason, youdon't qualify for any of these
other programs, I can find anagent for you that either will
(25:29):
buy it themselves or will haveone of their investors buy it.
And guess what?
It's still a full market valuecash offer.
So the Flip CPO program providesreal estate investors with a
full market value cash offer.
Right, so we can come to youwith, maybe for some reason,
(25:50):
maybe, your mortgage, remember.
You get most of your equity upfront and then we sell the house
and then you get another check.
That first equity check has gotto pay your mortgage off.
So what happens if your houseis worth 500 and your mortgage
is 499,000?
Well, you know, if we're givingyou 350 or 400,000 up front,
(26:10):
that only leaves you with 100,which won't pay off the mortgage
.
So if, for some reason, you'reunderwater on your mortgage or
you don't have any equity inyour house, you might not
qualify.
But we do have this flip CPO.
What that does is it just buysit.
Basically, maybe you want toflip homes, maybe you are an
investor.
You don't have to be an agent.
(26:30):
You could just be an investorand use our flip CPO, what it
does.
You've got to have 10%.
This credit score is not anissue.
They want to see proof of funds, it does.
You've got to have 10 creditscore's not an issue, they want
to see proof of funds.
So you've got to have proof offunds for 10 of the home's
purchase price.
Let's say it's 400 000, soyou've got to have 10 of the 400
000.
You've got to have 40 000 toput down.
Does that make sense?
(26:51):
So, um, 10 000 for every 100000.
So maybe you're buying amanufactured home because you
want the land and you want toflip the land.
Maybe it's 20 acres and, yes,this does exist all the time
locally.
So you've got an oldmanufactured home that's been
there for donkey's years.
It's got a great septic.
(27:11):
It might be a double wide.
So it's got a three bedroomseptic.
It's got a well on it.
It's got a well on it.
It's got a driveway.
It's got incredible views.
But the trailer's 30 years oldand of very little value.
So it could be that you knowit's on 10 acres, say, with
great views, and we can buy itfor 200,000.
So if you've got that 20 to putdown and you show proof of funds
for that, and if you'reconfused by this, what you'll
(27:33):
find is actually, you know, ourheadquarters is located in
Asheville, north Carolina, andwe say there's money in them,
there hills, because you knowpeople judge a book by the cover
sometimes and it doesn't matterif you've got credit issues or
not credit issues.
You can have millions ofdollars and have credit issues.
(27:54):
You can have 200 grand in thebank and not have the greatest
credit score to get a regularloan, you know, since the banks
have tightened up.
So what this provides is thatyou have to have proof of funds.
Now why does the fundingpartner do that Is it kind of
skeezy, you know, and gettingpeople into trouble.
It's really not, because thewhole idea is that you go in as
(28:16):
the investor, they will up frontyou the money this is
flipcpocom.
They will up front you themoney to purchase the home.
So we go let's say it's atrailer on 10 acres, right, and
it's an old trailer and you wantto.
But maybe you're a home builder, you want to build a home on
there and you're going to sellthat home, but you don't want to
take all the risk and you wantto borrow the money.
(28:36):
This is a program where youborrow that money.
You put 10 down, we're going tobuy it for 300, say, we put 30
down, and then you've got um andwe need um.
We're going to remodel itbecause the trailer's not that
bad, so we need five thousanddollars for that.
You need 10 to that.
So you need another 500.
So you need 10 of the remodel,10 of the home purchase price
(28:56):
and proof of funds to show that.
And then what happens is youget the money, buy the home,
remodel the home.
Our funding partner willupfront the money for the
remodel and you know, then we'reensuring that they're securing
deals without delays is thewhole game here.
Once the home is remodeled andsold.
(29:18):
This is not to hold a propertyand to rent it out.
This is for flipping a property.
That's why it's called flip CPO.
Once it's remodeled and sold,the investor gets the profit on
the upside.
So agents like this as well.
A lot of real estate agents arealso.
I don't know about a lot, butsome real estate agents are also
investors.
So once the home is remodeledand sold, they get the profit on
(29:40):
the upside.
And if you're an agent investor, you also get the listing,
because then you're going to getthe listing and sell it.
So you've got the control ofdoing that, which is very nice,
obviously.
So I just want to remind youthat, however you want to sell,
it is fine.
Our network of agents is amazing828-333-4483.
(30:04):
Anywhere in the country, we'vegot an amazing network for you.
Or you can go to cashcpocom andclick on find agent.
You'll find the agent rightthere.
If you don't want to talk to apesky realtor I'm not pesky, I
won't pester you, I promise.
However, if you just want to goon there and find your agent,
you can do that too.
And listen, we're going to giveyou a choice.
(30:24):
We want to do what's right foryou.
So in all the families I'vehelped since I've been in real
estate, I've got over what I wastotaling up.
I've never done it beforebecause I'm just not, I don't
know, money driven or something.
It's probably my problem Mightbe my Achilles heel, one would
say.
So I'm at 1.3 billion worth involume of real estate.
(30:48):
That means that's a lot offamilies.
There's over 3,500 familiesthat I've helped.
If I were doing it in the wrongway or giving them information
about I don't know, somethingthat was just going to help me
get a commission check, Iwouldn't still be doing this.
So I think you can have sometrust in what I'm saying here.
So all of the agents around thecountry can do it any way they
(31:12):
want to, and our three core waysof doing it, just to reiterate,
are a conventional listingMaybe you've just tuned in,
maybe you're on the way to thegrocery store in your car is we
can do a conventional listing.
Nowhere is it all.
They drop out.
It's not us guys across thecountry.
That's why, when I got intoreal estate, I didn't understand
this.
I don't understand why it'sdone this way.
(31:33):
They drop out a third of thetime.
That's a lot.
Another great option is acertified pre-owned listing.
That's where you, as the seller, pay for the inspection.
You have an appraisal.
Sometimes, as we're nowslipping in the market again, an
appraisal would be a good idea.
(31:53):
They measure it for you.
Get all the right measurements.
It gives you the best idea ofvalue instead of Bobby down the
street telling you what.
Get all the right measurements.
It gives you the best idea ofvalue instead of Bobby down the
street telling you what hethinks it's worth.
Please stop listening to thatstuff.
Please stop going on and doingauto valuations and going well,
zillow says it's this.
No, let's get you really goodpricing.
This is the biggest, probablythe biggest asset you have not
(32:14):
for all of you, but for mostpeople, this is your biggest
asset.
Let's price it right.
Pricing it right when you'reselling it also is extremely
important, because you don'twant it sitting there past 30
days, which is what's happeningto a lot of houses now.
The market is different, guys,and it's not just oh, you know,
trump's in now, so everything'sgoing to be fine.
It doesn't work like that.
(32:35):
The you know economic cycle isthe economic cycle.
Seven to 11 years.
Does it have an effect.
Yes, however, you know pricesare going to be flat or
declining.
You just have to trust me onthat.
Well, it might go up a littlebit, flat by flat.
I mean we might add 2%, wemight lose 5%, like we're
bumping along.
So if I were you, I would nottake that risk.
(32:58):
So now we've got two options.
We've got a traditional listing, old fashioned listing.
They drop out 30% of the time.
We've got a certified pre-ownedlisting.
That's where we do a little bitof work and spend a little bit
of money up front getting theinspection, getting the
appraisal.
You don't have to get theappraisal, but I strongly
recommend it.
I would say you have to get theinspection.
It's a no brainer.
500 bucks yes, that's a lot ofmoney.
(33:21):
I get it.
But those are the issues.
The appraisal and theinspection are the two things
that cause it to drop out athird of the time.
Let's take that off the table.
Let's reduce that to 7%, whichis what happens with a certified
pre-owned listing.
That's, I promise you, what youwant.
The third one is now a hybridof certified pre-owned, which is
(33:44):
a cash CPO, cash, certifiedpre-owned.
That's where you get cash outfirst.
You can move out in 14 days, 90days, your choice.
You move out later than that ifyou want to.
You want to press that button.
That was my sound effects there.
You want to press that buttonwhen you're ready to close in 14
days.
That's the idea.
(34:05):
But we can line all of that upfor you.
We'll go through all of thatwith you.
So you take your money up to70%, you move right, you're out
of the house.
You've gone through all thestuff.
You've not got people traipsingaround your house, looking at
your house, going, hey, there'stoo many photos.
I don't know it.
Just it doesn't look quiteright.
I can smell their dog.
(34:26):
I can smell their cats.
They've got a cat.
I'm allergic to cats, I'mallergic to dogs.
Looks like kids were in thishouse and you can tell.
I've shown a lot of peoplearound houses, right, I've heard
it all.
Well, there's crayon on thewalls, the walls are green.
Yes, really, I heard that Idon't want this house because
the walls are green.
I've heard that and roll youreyes because, yes, it's just
(34:46):
paint.
But that's how people think.
They want to walk in these daysto an HGTV home.
That's as done as possible,unless they're an investor, of
course.
Then they want to go into ahome where they can see that a
lot of value can be added.
So with a cash CPO you'removing on.
We've got you out, all yourfurniture's out, you've gone
(35:07):
through the stuff, you've donethe painful bit of moving and
now we can get to work onsprucing up your house, can get
to work on sprucing up yourhouse.
So that might be a deep clean.
It might be painting the inside.
It might be putting a new roofon.
It might be putting anotherline on the septic.
It might be redoing the septic.
(35:28):
Yes, we've done all of these.
It might be a complete kitchenredo.
We've just done one of those.
It might be painting thekitchen cabinets.
It might be a week of work.
It might be a month of work.
Occasionally it will be longerthan that, not usually.
We do the work because you won'teven recognise your house.
Quite frankly, you'll probablywant to buy your house back, but
(35:49):
I'm finished with it.
And then we list it and sell it.
And yes, there's a fee from thepeople we borrowed the money
from.
Of course there is.
But just think about why houseflipping is so popular.
Think about why all these HGTVprograms are so popular.
It's because people love toflip houses.
(36:11):
It's not unusual at all.
Right, people want to go in andgo.
Oh, I like the light fixture.
Oh, I like the hardware on thecabinets in the kitchen.
Oh, I love the new courts.
It all feels fresh and new, itdoesn't smell, there's no dogs
running around and, what's more,is the home seller.
You don't have all the stressof that, you can just watch from
(36:32):
afar.
With all of this happening, twothirds of sellers make more.
With all of this happening, twothirds of sellers make more.
On average, people make between90 and 120% of what you would
with a conventional sale.
That's two thirds make more.
So most of it's going to comeout to wash.
Many people that I talked towould even choose if I said okay
(36:52):
, your house is 500,000.
So let's put it in Russianroulette here so when it's sold,
you're you know, because acouple of things that need doing
you're probably going to get475.
And then, when it's in thecontract and right now you're
going, no, I wouldn't take that,I'm just going to hold out for
the 500.
Okay, remember I'm the girlthat 1.25 billion, that's
(37:13):
billion, not million.
I, that's billion, not million.
I don't say that to brag, Itell you because I've got
probably more experience thanyou.
Chances are I've got moreexperience than probably I'm in
the top three in Asheville withexperience of selling that many
houses.
So with that established, I cantell you that it's really worth
(37:36):
spending a little bit of timegetting it done.
And I'm not just telling youprices like is that 500 and
you're going to get 475, andjust making stuff up Like I've
seen so many.
I know that's probably whereit's going to come down.
And then you're under contractand you're you know you've got
the moving trucks ready.
You're going to Florida, you'regoing to Arizona, you're going
(37:58):
down the street, wherever you'regoing Going into senior living,
getting divorced, having a newbaby, needing a bigger home,
whatever is going on, gettingmarried and combining two homes.
And then you're under contractand a week before it closes
because, by the way, that's whenit happens it is not fun A week
or two before it closes, thebuyer's agent calls and says,
(38:18):
hey, we've done the inspectionand we've found x, y and z, and
then you know we got someestimates on it.
If you're lucky, they probablywon't get estimates on it.
Um, and you know my buyer'sdone some more investigations
and they're really worried aboutthe radon, or they're really
concerned about the crack in thewall outside that it might
collapse or whatever it is.
(38:39):
We want another $25,000 off.
I'm not kidding guys, thishappens all the time, all the
time.
So you've got to go throughthat hassle too.
So on a 500, you might end upat 460 475, right?
So when I'm quoting you, 90 to120% with a cash offer, now it
doesn't sound so terrible, doesit?
So if I said to you okay,you're at 500,000 and on average
(39:04):
you're going to get between 90and 120%, I don't know which
route would you choose.
I know which one I would choosebecause there's no showings,
there's no signs.
There's no signs.
There's nobody coming into yourhouse, there's no texts up
morning, noon and night.
Hey, can we show your house at10 am?
You know, come back with Y foryes or N for no.
(39:26):
All that goes away.
It's out of your hair.
What you have to concentrate onis where are you going next,
that thing that drove you tosell your house in the first
place.
Quite frankly, if you can'tthink that way, you should
probably think twice aboutselling, because you may not
really want to sell.
You may be just dipping yourtoe in and not really be serious
(39:47):
.
So I'd think about that reallyreally carefully if that's not
where you're at with it.
So let's go through a few moreof these programs.
Can you believe that we've onlygot that time left?
I just don't know where it goes, guys.
It's amazing.
We've got about 10 minutes left.
I just don't understand.
It's crazy.
So the flip is for investorsand agent investors.
(40:08):
And then we've got the DivorceCPO DivorceCPOcom if you're
divorcing.
So the Divorce CPO programprovides homeowners going
through a divorce with a fullmarket value cash offer.
So this is more fair, it'sfaster and it takes a lot of the
stress out of it.
Divorcing couples often facedelays, disagreements, financial
(40:32):
strain when they're looking tosell it the traditional way.
So this simplifies the process.
The person that's still in thehome can have 90 days, 60 days,
30 days, 14 days if you want, ifthey're ready to get out and
move on 14 days, you can get themajority of the equity.
(40:53):
Now, especially with divorcingcouples' homes, those homes can
be a bit unloved because youknow a divorce doesn't come
overnight generally.
Sometimes it does.
You know a divorce doesn't comeovernight generally.
Sometimes it does.
You know if somebody's cheatedor something.
But generally divorce doesn'tcome overnight.
So things have been leading upto that and you haven't been
remodeling the kitchen, maybeyou haven't.
That's cause of divorce, that'sall of the show.
(41:15):
Maybe that led up to thedivorce, who knows?
Actually those financialdifficulties really count.
But generally the houses that wesee in a divorce sometimes how
do I say this?
Can be a little bit battered.
You know, there's often a momleft with the kids in the house,
or mom and the kids have movedout and everybody's just not.
(41:37):
Obviously it's a difficultsituation to be in those houses.
We can go in and freshen up andput a bit of life and a bit of
love back in them.
Let's say it as it is and thenresell them and get more money
for the parties and then it'ssplit up.
You know, according to theattorney, we work with the
divorce attorneys on thoseobviously, so it works really
(42:00):
well for divorce.
Then we have estate CPO.
So the estate CPO programprovides heirs and estate
executors with a full marketvalue cash offer Shaka, you're
hearing that one over and overagain.
So again, this is faster, it'smore fair and it takes a lot of
the stress out of it.
(42:20):
You've usually got a number ofsiblings.
It might be during probate orin inheritance proceedings,
depending on how you've set upyour trust.
If you haven't set up yourtrust, please do that,
especially if you're older andyou've got people to leave
things to.
If it's a trust, it does.
You know, in most cases.
I shouldn't be advising on thisbecause I don't have this legal
background, but it takes a lotof that out of it.
(42:42):
Talk to the people who wouldset that up for you.
There might be multiple heirs.
You might be squabbling.
You might be squabbling overwhich agent does what and who's
going to be the real estateagent and all of that stuff.
That takes all of this out ofit.
You get the majority of theequity within 14 days, so it
allows the heirs to move forwardwith the majority of the money
without those delays or disputes.
(43:03):
Right, and then we sell.
We go in almost always in thatcase because you're generally
dealing with somebody that'ssuddenly passed or somebody
that's older.
So generally we can add quite abit of value to those homes,
which means that the heirs aregoing to make more money because
we can go in.
Generally, we can go in andfreshen it up, we can do
(43:24):
whatever that needs to be done.
You know, it might just be asimple thing like painting the
cabinets and putting somehardware on and maybe putting
countertops on, maybe justspending $10,000.
But we can get $50,000 morebecause nobody wants to do
anything these days.
It's been like that for a longtime, guys, honestly.
So you know, just think aboutthat when you're selling and
obviously you don't want peoplegoing into a house where
(43:47):
somebody's passed or you've gotall your heirlooms in there, or
the kids are coming back fromwherever they're coming I always
say San Francisco for somereason, but wherever they're
coming from Austin, texas, ordown the street or Raleigh,
picking through all the things,it gives a house an energy.
You don't want that.
(44:08):
Let's get it all out.
Let's put it in storage.
If we need to Remember, we havethat team to help you.
We have the people that auctionthe furniture off.
If you want, we will help youhandle all of that.
We've got people very welltrained that put the team
together.
So the expert team led by theestate CPO experts, along with
the probate attorneys, thecontractors, the real estate
professionals, they handle allthe details and it gets an awful
(44:31):
lot less stressful and a lotmore seamless for the heirs
involved.
So let's move on to short-termrental owners.
So this is STR CPO.
Again, rowena Patton, here onthe Real Estate News Radio, you
can give us a call 828-333-4483,828-333-4483.
(44:54):
And we will help you find anagent or an expert team anywhere
in the country.
You can also go to if you wantto see all of these programs.
Cpo for Certified Pre-Ownedcpoexpertscom forward slash
programs will bring them all upin one place for you.
So this is strcpocom short-termrental CPO.
(45:15):
So there are short-term rentalowners out there that might own
six and the number six is theleast performer and they want to
get it sold.
However, here's the deal whenyou have a short-term rental,
the last thing you want is asign outside.
Why?
Because it hurts your sales.
Right, that makes sense.
The real story in STRs is thatyou make most of your money in
(45:37):
year two and onwards becausepeople come back.
You get the repeat visitors.
The last thing you want and andit's a business, think of it as
a business you know that's uh,you're looking at how much money
does the business make, howmany?
How much uh income do you makefrom the rentals each year?
So year two, that's often quitea bit more.
The last thing you want is asign outside where your repeat
(45:58):
visitors, who love coming backto your short-term rental, stop
coming because you've got a signoutside.
What are you selling it?
No, you can't sell it.
So we go in, we make the offerit sells, we continue all of the
rentals as much as we can,unless it needs a full remodel
and the short-term rental ownergets to make a bid on a
(46:20):
different short-term rental intheir portfolio.
Maybe they've only got one,maybe they just don't want it
anymore.
Same thing, but at least wekeep all of the bookings going
while that is going on.
Does that make sense?
So let's show in our last goshsix minutes here, let's show how
well it works for banks and REOasset managers.
(46:41):
So the bank CPO programprovides banks and financial
institutions with a full marketvalue cash offer.
So most often so.
Banks believe in foreclosing onhomes all of the time.
That never stops in high timesand low times and it's starting
to happen more again.
So these are distressforeclosed or REO bank owned
(47:01):
properties and managing them canbe very time consuming.
If you've ever gone to purchasea bank owned property, you'll
find it looks terrible.
Often the windows are smashedand people get pretty ticked off
when the home is foreclosed.
I mean, understandably, right.
So we go in, we buy.
You know the drill.
The bank will get up to 70%right away.
(47:23):
So they've got this bigportfolio.
We'll give them 70% right away.
Up to 70%, we go in, wemaximize the value of the house.
In this case we can probablyadd 50 to 100% I'm not kidding
at least 50% on the home,because when they're distressed
they sell for a lot less moneyand they take a long time to
sell, especially in a decliningmarket.
(47:45):
So banks love this program.
Let's talk about ReloCPO.
Relocpocom.
This is for relocatinghomeowners.
We can do the full market valuecash offer.
So if you're moving toAsheville from Austin, texas, we
can give you that full marketvalue cash offer within 14 days
you can take the majority ofyour money, move to Asheville,
(48:07):
get.
You know you're not doing doublemoves, you're not doing
temporary housing, looking for ahouse.
You can go, you can hold ontothe house if you want.
You know we don't have to sellit right away so that you can
still be in it while you'restill looking.
So you're not homeless, becausethat would be terrible.
You can go and stay whereveryou're going and take a look
around and come back to yourhouse if you want.
(48:27):
That's fine, but you can makean offer on your new home
because you've unlocked you know, the majority of your equity
already, so you may still,depending on how much you've
made.
Obviously, you may be able tobuy cash outright, or you may be
getting a smaller mortgage, oryou may be getting a mortgage
and using the money that you gotout to put down again, all
(48:49):
depending how much you got out.
So just makes it a lot easier,a lot, lot lot easier.
So once I finish up today.
I was so honored on last week'sshow and you can find this at
realestatenewsradiocom.
You're listening to the RealEstate News Radio show,
realestatenewsradiocom.
You can send a link to listento anyone in the country, your
(49:13):
friends, if there's one of theshows you think they should
listen to.
This airs live.
It goes out all around thenation.
You can listen in Mars if youwant to.
It's syndicated.
However, if you want to listento the podcast, we take the show
once it airs live.
Randy, our amazing producerthank you, randy, and happy
(49:36):
Valentine's Day, you're myValentine today Uploads it onto
our podcast and you can findthat at realestatenewsradiocom.
Realestatenewsradiocom.
So you just click on podcasting.
You see all this one.
If you're listening to it live,it won't be up for a couple of
hours probably.
So you know, give us a minuteif you can't find it.
But if you want to listen tothe Tunnel to Tower Wars one
last week where the VP came on,he was so amazing, I so wanted
(49:59):
to do it.
In fact, one of I won't callher out because that wouldn't be
fair, but one of my colleaguestoday in the network sent me a
message, from across the countryactually, and she said oh, I
forgot to tell you.
I listened to the podcast ofthe Tunnel to Tower show last
week and I was bawling my eyesout.
(50:21):
It was so moving and I signedup today at t2torg so you may
want to go and listen to thatone.
Just saying you can find it atrealestatenewsradiocom.
Realestatenewsradiocom Justclick, click on the blog posts.
In fact, you'll be able to seeor once you click on the blog
posts there, you'll be able tosee all of the shows that we've
(50:41):
done for years, all kinds ofdifferent topics, which are very
helpful if you do anything inreal estate.
So T2T, the Tenorota Towers,cpo, we call that Heroes, mls,
heroesmlscom.
That's where you can findinformation.
We will give you all kinds ofgoodies, basically if you are a
first responder or a veteran.
(51:02):
Why?
Because we like working withfirst responders and veterans.
This goes on all over thecountry, remember?
You can find your agent,cashcpocom.
If you don't want to talk to apesky agent, that's okay too.
You don't have to.
You can just go to cashcpocomand get your cash offer right
there.
If you want more information,guys, no problem at all.
(51:23):
828-333-4483.
828-333-4483.
Make sure you give us youraddress wherever you are in the
country or you can just go andget your offer yourself at
CashCPOcom.
If you don't want to deal withus pesky agents at cashcpocom,
if you don't want to deal withus pesky agents.
So if you have an agent, youcould ask them to get in touch
(51:50):
with me to be able to do some ofthis.
We actually make a contributionfor you.
We gift you, if you're in thosecategories, an $11 a month
subscription to Ternota Towers.
So over time I told you I'm at1.2 billion I've given back
nearly 900,000 at this point.
So it all adds up and it's agreat thing to do.
T2torg.
Thank you for listening.
Guys, as ever, it's always apleasure to spend my Saturday
(52:14):
morning with you.
Thank you so much.
I love you all and happyValentine's.
You're my Valentine's this week828-333-4483.
See you on the radio next week.
You can find this recording.
It's live right now, but youcan find this recording at
realestatenewsradiocom.
(52:35):
That's realestatenewsradiocom,and you can also find the links
to listen live so you can sharethem with your friends.
A bit late now because we're atthe end of the show, but you
can share it in the future tolisten absolutely anywhere,
whether you're listening on yourtablet or your cell phone or in
your car where else could yoube listening?
(52:56):
I don't know, somewhere throughyour smart TV or something like
that.
Happy selling out there, guys.
Stay warm.
It's warming up now, I know,and here we are.
We're only a month or so awayfrom the beginning of spring.
Who knew Time goes so quickly?
Oh, my gosh, great to be withyou.
(53:17):
See you on the radio next week.
Don't forget, there's no suchthing as a silly question, apart
from the ones that are notasked.
828-333-4483.
See you on the radio next week.
Speaker 1 (53:33):
This has been the Plain English Real Estate Show
with Rowena Patton.
Visit Rowena and post yourquestions at RadioAshevillecom
or call her at 828-210-1648.
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