Building Wealth During Uncertain Times Workshop

Don't miss this fabulous opportunity to spend an entire day with John Schaub.

Saturday 3-22-2008 - South San Francisco Conference Center (near SFO Airport)

Dateline Sonoma, CA 2-5-2008

Hello Friends,

You know, at our BAWB meetings from time to time we talk about the financial markets or the state of our economy.

I think I'd really be remiss if I didn't revisit with you some of this information again.

First, let's talk about some of the problems we're facing. Then I'll suggest a possible solution / opportunity Here's the problem:

These were some recent headlines on CNN.com:

"Recession Fears Slam Stocks"

"Feds Make Emergency Rate Cut"

As recession fears were slamming the stock market,
the Federal Reserve held an "emergency meeting," the first "emergency meeting" since 9/11.

Citing a "weakening economy," the Feds made the biggest interest rate cut in over 23 years (3/4 of a point), slashing the key Fed Funds Rate to 3.5% and the Discount Rate to 4%.

Additionally, our Cost of Living is soaring:

Last week the US Dept of Labor announced that inflation jumped higher in 2007 than in 17 years.

In November, the US Dept of Labor announced the biggest jump in producer prices in 34 years. Wholesale prices also posted their biggest gain in 22 years.

The prices we pay on imported goods jumped by 10.9% last year – the fastest rise in 25 years.

What this means is that you'll need MORE money this year just to stay even and a LOT more to keep improving your lifestyle.

And the Unemployment Rate is picking up speed:

We now have 7.7 Million unemployed people in this beautiful country of ours...almost One-Million more unemployed than last year!

And What about the Real Estate Market:

We have skyrocketing foreclosure rates throughout the country, a VERY tight credit market, huge unsold inventories of properties and the continuing sub-prime mortgage meltdown.

What does all this mean?

Now, if you're listening to the financial pundits, you'll be frozen in your tracks, like a deer facing headlights.

But it doesn't have to be you.

As the great Napoleon Hill says:

"ALL problems Create Opportunities." - isn't that TRUE

Rising foreclosures, increasing REO's,tight credit, and the sub-prime mortgage crisis are creating huge opportunities for those who know how to take advantage of today's real estate gold mine. If I were a weatherman - I might forecast this as "the perfect storm"

Finally! THIS is the opportunity of a lifetime we've been waiting for. Real-life experience gives us that insight that the timing is right.

I'd like to share with you the ability to have that professional "edge" at this FANTASTIC upcoming workshop you simply do not want to miss;

John Schaub's

"Building Wealth During Uncertain Times"

The entire day will be devoted to addressing this specific question:

"How Can I Make Money in "Today's" Real Estate Market?"

The truth is simple.

When foreclosure rates go up, money becomes tight, opportunities for more lucrative real estate deals go up exponentially....IF you know what to do and how to do it correctly.

So, take a few minutes right now and check out the in-depth details for this upcoming FULL DAY event here by going to this link:

http://www.bawb.info/documents/JohnSchaub.pdf

The cost is insanely low and I promise you it will be filled with "meaty" content not fluff and with strategies you can use right away.

I truly hope you will make the decision to be there!

Sincerely,
Michael Morrongiello
Program Director
BAWB, LLC
www.BAWB.info
The Bay Area Wealth Builders Association
# 707-996-6411

PS. Don't Delay – SEATING is VERY LIMITED - This event is being marketed Nationally and to assure yourself a seat we encourage your Pre-Registration. Do it today!

We Made It Into the "Top 50 Real Estate Marketing Bloggers" on International Listings

Our blog was recently published in the "Top 50 Real Estate Marketing Bloggers" on International Listings. We are #33 and are listed under the category of Development Properties.

"Keep up the great blogging. Cheers," said Brian Thibault.

Kathy A. Hertzog, President, responded, "We are honored and thrilled to be included on your Top 50 List. This list is an excellent resource for those who have an interest in almost any facet of the real estate world. We just started blogging a few months ago and had hoped our members and other bloggers would begin to participate more with our blog. Your article will be of great use to others seeking more information. We have already added a link to this terrific resource on our blog to share with others. We are very thankful to you for including us in your Top 50 Real Estate Marketing Bloggers List."

Grant Cardone Tips on Buying A House

While surfing the net today, we came across an interesting video which we wanted to share. Grant Cardone's tips for buying real estate are: buy in the best location, buy property that has commanded the highest price over time, and buy where there are barriers to entry - where nothing will be built near it.

Tenant Screening Services

In today's mobile society, it is important to know who is occupying your rental properties. Occupants come and go, and they frequently offer far too little information about themselves, their past and present employment, and credit history. All landlords and property managers know that reliable tenant screening can save them trouble and money.

As of 7:00pm ET, on October 16, 2007, LandlordAssociation.Org was informed that due to circumstances beyond their control, IntelliCorp can no longer provide reports to individual landlords who have not incorporated as a business. IntelliCorp can only work with Business-2-Business clients. If you are a legal business in your state, we are still able to provide access to the IntelliCorp system.

LandlordAssociation.Org has worked out an arrangement with Fidelity Information Corporation/TenantAlert to provide tenant screening services to ALL landlords large and small, incorporated or not. The new service, which can access Experian or TransUnion, will be easy to use and easy to understand. We hope you will find this new service a valuable resource.

You will be required to register with the new service. Although there will be a minimal one-time registration fee, we are working with them to get a high amount of that fee credited back to you to cover the costs of your first report(s).

An individual, property management company, large company, or real estate broker can sign up selecting the $35 or $99 registration. The $99 registration includes the first $75 on-site inspection fee. If you sign up for the $35 registration, and later want an on-site inspection done, it will cost an additional $75, so if you sign up for the $99 registration, it will save you $11.

The difference is based on where you are conducting business. If you conduct business from a house or residential location, then you must pass an on-site inspection annually to maintain access to full credit reports. If it is from a commercial location, only a one-time inspection is required as long as your business remains at that location (if your business moves, another on-site inspection must be conducted at the new location).

Here's how it all works:

Fidelity Information Corporation/TenantAlert can provide both incorporated and non-incorporated individual landlords with what they call an "Instant Credit Decision" within a matter of 24 to 48 hours. The "Instant Credit Decision" provides complete access to eviction and criminal data, but limits access to the instant credit decision only. The "Instant Credit Decision" is computer generated recommendation based upon an analysis of the applicant's personal credit history as compared to a set of criteria specifically designed for the rental housing industry. Additional information that may appear on this report, such as eviction, criminal and sex offender history, have not been considered in making the recommendation. The provider of this report suggests the recommendation provided be used in conjunction with other information before making a final determination. Approval is conditional upon independent business verification.

Landlords who pass the on-site inspection process can obtain complete access to eviction data, criminal data, and full detail credit reports. Please note: If your physical address for verification is a residence, an annual on-site inspection costing $75 will be required to maintain eligibility for the full credit reports through Fidelity Information Corporation/TenantAlert. Passing verification is not guaranteed and there is no refund of application fees. Approval is conditional upon independent business verification. If, for any reason, you fail the inspection or choose not to go through another inspection, you will still have access to the "Instant Credit Decision" reports.

• Click here for product and pricing information.
• Click here to view a sample "Instant Credit Decision" report.
• Click here to view a sample of a full credit report.
• Click here form more information about tenant screening.

Kathy Hertzog Quoted in at Least Two Newspapers Across the Country

Kathy A. Hertzog was recently quoted in at least two newspapers across the country that printed follow-up stories dated October 4, 2007 (additional articles may run on later dates in other papers). These articles ran in several papers, including ones in Ohio, Indianapolis and Nashville, Arizona, Kentucky. The articles contain information about the Fair Housing Act and how to identify and report different types of discrimination. Links to two of the papers carrying the story are shown below.

The Courier-Journal, Louisville, KY - CLOSED DOORS: Housing discrimination complaints on rise across country - Update: Landlords can set standards for tenants, buyers
DEBORAH BARFIELD BERRY, Gannett News Service, October 4, 2007

AZCentral.com (Main Story) - CLOSED DOORS: Housing discrimination complaints on rise across country
DEBORAH BARFIELD BERRY, Gannett News Service, October 4, 2007

AZCentral.com (Where Quoted) - CLOSED DOORS: Housing discrimination complaints on rise across country - Update: Landlords can set standards for tenants, buyers
DEBORAH BARFIELD BERRY, Gannett News Service, October 4, 2007

Update on ProposedTax Changes HB 3648

Thank you! Here is some additional information regarding H.R. 3648. It has been sent to the Senate Finance Committee. Information can be tracked at thomas.loc.gov (Library of Congress) under "HB3648," summary & status. Below are the members of the Senate Subcommittee on Taxation. This bill has passed the House, but it has not yet passed the Senate.

Janet

SUBCOMMITTEE ON TAXATION AND IRS OVERSIGHT AND LONG-TERM GROWTH

Kent Conrad, ND, Chairman
Jon Kyl, AZ, Ranking Member

Democrats	Republicans
Max Baucus, MT Ron Wyden, OR Maria Cantwell, WA Charles E. Schumer, NY Debbie Stabenow, MI Ken Salazar, CO	Trent Lott, MS Pat Roberts, KS Olympia J. Snowe, ME Mike Crapo, ID Orrin G. Hatch, UT

New Tax Changes Proposed by the House Ways & Means Committee (Introduction by Janet Bergeron)

There's a bill that was just put forth unanimously from the committee which takes away the tax exclusion of living in a house for two of the past five years, if it was a rental or vacation home.

There is some very minimal grandfathering, more of use to people getting out of the rental business sooner rather than those of us who want to hold. The whole banking industry is behind this bill: it's the one that relives people in foreclosure of their tax on debt relief - very popular right now. It will take lots of folks speaking up, but so far, all I've heard is silence in the press. You have a way of getting the word out. Some of the bill information is available at http://waysandmeans.house.gov.

Also, if it would be a concern that some landlords are in foreclosure, this doesn't have to be an either or. A bill can be written that eliminates tax on forgiven debt and does not take away the tax exclusion that so many landlords need when selling a house they have lived in & rented. But... the word has to get out. People's retirement savings is on the line!

House Committee on Ways and Means

For Immediate Release: Thursday, October 4, 2007

Contact: Matthew Beck or J. Jioni Palmer (202) 225-8933

Housing Tax Relief Bill Passes Full House Legislation would prevent families from receiving tax bill following mortgage foreclosure WASHINGTON – The House of Representatives gave overwhelming bipartisan support to H.R. 3648, the Mortgage Forgiveness Debt Relief Act of 2007, today in response to some of the tax issues that have arisen as a result of problems in the subprime mortgage market. The measure passed the full House 386 to 27. Similar legislation is pending before the U.S. Senate. Under current law, debt forgiven following mortgage foreclosure or renegotiation is considered income for tax purposes, resulting in tax liability for individuals and families. The House bill, written by Ways and Means Committee Chairman Charles B. Rangel (D-NY), would provide tax relief to families by permanently excluding debt forgiven under these circumstances from tax liability. It is estimated that two million American families could lose their homes to foreclosure due to rising interest rates in the current housing market crisis. "I am happy that Congress came together to give bipartisan support for this common sense bill to help alleviate the pressure American families are feeling due to the subprime mortgage crisis," said Ways and Means Committee Chairman Charles B. Rangel. "It is just not right or fair that families struggling through a foreclosure would then face a tax bill in addition to losing their homes when they have seen no increase in their net worth. This bill rights that wrong and provides tax relief to millions of American families." The bill would also help would-be homeowners secure their investments and avoid high interest, "piggy-back" loans for down payments through a long-term extension of the tax deduction for mortgage insurance while also easing restrictions for qualifying as housing cooperative corporations. Finally, the bipartisan bill would tighten requirements taxpayers must meet to exclude gain from the sale of certain homes that have been used as a vacation home or rental property. H.R. 3648 has received strong support from the housing and mortgage industries, including the National Association of Realtors, Mortgage Bankers Association and National Association of Homebuilders. Please click here to view a summary of the legislation and letters of support for H.R. 3648. Click here to view Ways and Means Members Support for Housing Tax Relief Bill.