Watch videos answering these Frequently Asked Questions.

 

 

 

 

 

 

 
Q. What are the primary categories of the foreclosure industry?

A. Foreclosures are broken down into three basic categories: preforeclosure, foreclosure auction, and REO.

Preforeclosures are when you deal with the homeowner and the bank before the actual foreclosure auction occurs.  (This is the stage of foreclosure in which we focus on as
will be discussed later)

Foreclosure Auctions occur after a set time frame of usually 30 or 90 days (depending on
the county and the state) expires from the time a notice of default is registered through
county records by a lender starting the foreclosure process. If the homeowner has failed
to make their delinquent balance current during this time, the lender will then auction off the
property and the homeowner will lose their property along with all of their equity.  (The
problem with auctions is there is a lot of competition with other investors and with the
lenders themselves buying the property back to sell as an REO.  Also, it is unknown what
property you can get and which ones you can’t due to the gamble of an auction.)

REO’s are properties that are bought back by the lender and are now owned by the bank for the purpose of reselling them at a later date.  (The problem with REO’s is that the lender has already absorbed the legal fees, most overhead of the auction, and penalties by the government for the foreclosure already.  So, any good properties that slip through the cracks by this point, is how the REO brokers make their money, hence it is more difficult to negotiate on properties that hold any real value.  It’s more time and effort hunting for a needle in the haystack to find a deal that works in this stage of foreclosures.) Back to Top

 

Q. What type of properties will I locate?  

A. There are several ways to make money in real estate.  A good deal is a good deal no matter what method you use as long as it is legally and morally correct.  However, we primarily will be focusing on deal in the pre-foreclosure markets.  We feel that it is the simplest way to get several deals at a time with discounts of 30% to 60% by using our strategies and techniques. Back to Top

 

Q. Why does your company consider preforeclosures as the best avenue?

A. The banks are willing to negotiate extreme discounts off the remaining balance of a loan before an auction occurs.  This is called a short sale.  The lenders have an average overhead of 50K to 60K to carry out the foreclosure process for every deal.  This overhead consists of legal fees, auction fees, broker fees, government penalties, and property taxes.  Also, if a lender’s foreclosure rate gets too high, they are penalized across the board by the government on all the loans they do and are required large cash reserves mandated by the government to cover their liabilities as a risky lender.  So, they are willing to negotiate before the auction to help relieve their liability.  The problem for most individuals is that cash is required to have any real success with this negotiation since a lender doesn’t want to back up a bad loan with another bad loan to worsen the situation.  Cash clears liabilities off the books.  Which leads to the next FAQ. Back to Top

 

Q. What differentiates TCS from everyone else?

A. When most companies feel that their responsibilities are relieved after they have taught you something, this is where our responsibilities are just starting to materialize. Our private foreclosure network is full of all the necessary resources to help materialize your knowledge from a thought to an actual deal. We’re not just about education. We’re about execution to make sure you can be successful.

Approximately 85% of properties in foreclosure have little or no equity in them. This is a red flag for all the “no money down” people, which is probably 95% of the foreclosure industry trying to make a buck or two. They are taught to turn away from these properties and go on to the next deal. On the other hand, this is now an opportunity for our clients to make a short sale offer to the lender.

So, what T.C.S. Foreclosures offers is the knowledge on how to successfully locate, research, and negotiate the deals. It’s not just about finding the foreclosures; it’s more about what to do with them when you find them. When you know how to successfully approach the bank, and make a professional offer, unlike anyone else, then the foreclosure door of opportunity can be wide open to prosper from.

Instead of hassling with the competitors all trying to prey on the poor homeowners with equity, you are not sticking it to the homeowner; you are sticking it to the lender who most likely created this mess in the first place.

You are now helping people and will feel a thousand times better about yourself because you are creating the equity from a short sale from the lender and relieving the homeowner of a foreclosure where they would normally have nowhere to turn. We let 95% of the people (no money down people) go after 15% of the properties, while our clients get away from the competition and go after the 85% of the properties with little or no equity and actually help people out! Back to Top

 

Q. What qualifies a property as a good deal?

A. Our Submissions Department considers properties at 70 cents on the dollar or less, including rehab costs, as a property viable for the investor network.  The value of the property will be determined by a BPO (Broker’s Price Opinion) from established realtors in the local area.  Properties above the 70 cents on the dollar, which are close to that range may as well be submitted but there are no promises to that property being purchased, or a smaller assignment fee for the researcher may be an option to push the deal through. Back to Top

 

Q. Can I submit deals to the network if they are not foreclosure deals?

A. Yes, once again, a good deal is a good deal no matter what method you use as long as it is legally and morally correct.  So, if you have avenues to acquire properties from other methods, the network would be more than happy to purchase these deals as long as they meet the requirements. Back to Top 

 

Q. What is an assignment fee?

A. An assignment fee is when a researcher has a property under contract for a certain dollar amount and the investor pays a predetermined fee, agreed upon by both parties, for the purchase of that particular contract.  The investor is basically paying the researcher upfront for the negotiations and research prepared for the investment of the property. Back to Top

 

Q. How does a researcher know what they will get paid on every deal?

A. Each and every deal will be handled according to the amount of equity available.  The more equity on a property, the more a researcher will make.  We make sure it is fair for both parties.  Our Submissions Department not only oversees the property to double check the research for everyone’s comfort, but also acts as a mediator to make sure there is enough spread for the investor to profit as well as enough money as an assignment fee for the researcher so they are happy and justifies the time and effort for their work.  We work hard to accommodate both parties since both are key components for a successful transaction. Back to Top

 

Q. How much money can I make as a Researcher?

A. Your results will be determined by your efforts.  So, the answer is unlimited money.  We train the researcher to do deals that should result in a minimum assignment fee of 5K per deal.  Assignment fees can range from thousands of dollars to 50K on up per deal depending on the size of the transaction. Back to Top

 

Q. How many opportunities to profit will I have as a Researcher?

A. You could do 5, 10, 15+ deals a month if you wish.  As a researcher you are not limited to the amount of deals you can do per month, or the amount of money you can use per month.  The more you do, the better, as our success is your success. Back to Top

 

Q. How do I know that investors in the network will purchase my properties when I submit my deals?

A. Although it is illegal for us to guarantee the actions of private individuals, we do have VIP investors whom have paid a significant amount of money upfront to have first priority access to properties submitted through the network. This way we know we have an investor who is serious about doing deals. So, we only teach you to submit deals that fit the criteria of the investor. Back to Top

 

Q. Are there any special requirements to become a member of TCS?

 A. As a researcher, we must feel that you are serious minded and goal orientated individual.  Entrepreneurial success is a direct reflection of the owner’s determination to succeed.  We do provide all the resources necessary to succeed, but you determine whether or not you put the resources to work to succeed with us.  We only work with 50 individuals at a time, so we try to the best of our ability to find the best and most qualified individuals to partner with our investors and us.  Background does help, but it is not the deciding factor.  Good quality, hard working people are what we look for.  We can teach anyone to succeed as long as they give the effort. Back to Top

 

Q. Will the properties go under the Researcher’s name or the Investor’s name?

A. When a property is purchased, it will go under the investor’s name at all times unless a researcher is putting money into the deal as well and sharing in the risk with the investor. Back to Top

 

Q. Will a Researcher ever be required to have to put money into a deal?

A. No, it is only an option if they want to or not.  The investor will pay for the property, the rehab, and anything else associated with turning the property into a profit.  The researcher is paid upfront unless they want to partner with the investor and share in the profits. Back to Top

 

Q. If I know realtors or contractors, can I refer them to assist in the selling and rehab of the properties?

A. Yes, some of you may even be a realtor or contractor.  For the most part, the investor is not located in the immediate area of the property.  Thus, the majority of the time, they will use any referrals that are given as part of the research by the Researchers to carry out the work needed for the property.  So, referrals are definitely welcome. Back to Top

 

Q. Will I be responsible to sell the property as a Researcher?

A. No, the investor will use all resources provided by a researcher, but it is not the obligation of the researcher to actually sell the properties.  Our investor will normally appoint local realtors to head the project, as that is their expertise. Back to Top

 

Q. How is TCS compensated?

A. TCS makes money two ways.  Although there is a tremendous amount of overhead to oversee the entire network from the support, the submissions department, and investor relations, there is profit in the membership fees to make it worthwhile as a company to operate.  TCS also has the ability to purchase properties as well and profit from that end of the business.  So, there is motivation for the company to see success from our clients as it adds to the opportunities for more real estate transactions. Back to Top

 

Q. What type of training would I receive as a Researcher?

A. All the necessary resources will be provided to our researchers to succeed in residential and commercial transactions.  You will have one on one personal coaching as well as group conference call sessions to further enhance everyone’s learning curve as you learn from others questions and answers and strategies and techniques.  All trainings are accommodated with their respected training manuals and cds for 24hr references.  For further description of services, please see the services section of the website. Back to Top

 

Q. How much time is required as a Researcher to be successful?

A. We at least ask you to dedicate 10 to 15 hours a week.  When you first start, that will be a combination of learning and doing the business.  The best way to learn is to actually do deals.  As you become more knowledgeable and confident, your time will primarily be dedicated to doing deals, which ultimately will result in even greater success with your time. Back to Top

 

Q. Do I need a Real Estate License or any other license to become a Researcher?

A. No, there are no special licenses or requirements to become a Researcher… just your time and your effort. Back to Top

 

Q. Is my investment into my foreclosure business a tax write-off?

A. Yes it is.  There are also over 300 tax write-offs associated with this business.  We have a tax program included that will show you how to itemize these deductions.  Back to Top