Esmeralda talks about what’s happened to her business after spending money on Phill Grove’s training program and learning how to do mortgage assignments.

Mortgage Assignment Testimonial From Esmeralda Lira

Dani Lynn Robinson: Hi Dani Lynn here and I’m with Esmeralda today and actually she’s a very busy lady but she met us here at the bookstore so that we could do a quick interview. So I’m going to start off with, Esmeralda can you tell me a little bit about your story, how you met Phill, how long you’ve been a REALTOR, and how the REvolution training has helped your business.

Esmeralda Lira: Hello. Dani already introduced me, I’m Esmeralda.  I’ve been a REALTOR since September 2001, so it’s been 9 years.  I actually started in traditional real estate with Freddie Mac and Fannie Mae doing all traditional H.U.D. foreclosures and everything like that.  I actually just recently started with Shenoah and Phill, about a year and a half ago.  It’s helped me a lot, tremendously!  It’s given me options, every time I sit with a seller there’s always something I can present to them, depending on the situation.  Because nowadays everybody is in a different situation, so I always have a solution.

Dani Lynn Robinson: Ok, tell us a little bit about the deals you do. I know we’ve discussed the 12 strategies in our boot-camps, so of the 12 strategies what do you do the most?

Esmeralda Lira: Of the 12 strategies I prefer the mortgage assignments and also assigning subject-to’s.  Assigning the contract to an investor that might want a property depending on where their area is at.  So that’s what I prefer.  The subject-to’s, assignments of contract, and then also mortgage assignments, which are basically the same thing.

Dani Lynn Robinson: Ok, actually I think I had talked to you the other day on the phone and I had featured you in Boot-camp number 5.  And I had told them about your business now and how it’s changed and that you’ve kind of built a business around owner financing mortgage assignments.  Can you tell us how that’s changed, what you did before versus how many deals you are doing now?

Mortgage Assignment Testimonial from a Realtor perspective

Esmeralda Lira: Well what I did before was completely traditional real estate. If the seller wanted to sell I would represent them and I would try to find a buyer that wanted to buy their house.  Nowadays, there’s a lot of sellers who cannot sell. So the way it’s changed is, sometimes I’ll do traditional real estate, 3 to 4 deals, and then I’ll do 2 or 3 owner finance deals.  So I never turn away a seller.  If there is someone that has negative equity or or doesn’t have an equity at all and they can’t afford to pay their REALTOR, that would be an assignment. So I would do 2 traditional real estates and 2 to 3 assignments depending on what is going on that month.  So I mix everything now together and I don’t turn down anyone so I make money either way.

Dani Lynn Robinson: That’s what I like best to! Tell us a little bit about how much you make on the owner financing deals.

Esmeralda Lira: With owner financing everything is completely different.  There is no standard commission with traditional real estate, but with owner financing sometimes I make $2,000 on an assignment because the home owner is already in arrears, so we catch that up with the buyers money.  Sometimes we make up to $8,000.  This last deal we did, about a week ago, we made about $8,000.  The buyer brought $10,000, we used $2,000 for the documents and closing costs.  So I was able to put $8,000 in my pocket.  So anywhere from 2 to 8 depending on the deal, but 2 is better than nothing.

Dani Lynn Robinson: That’s right.  Ok, two more questions.  In regards to Phill’s REvolution training, what do you think is the most valuable thing you learned?

Esmeralda Lira: From the 12 strategies?

Dani Lynn Robinson: The 12 strategies or anything that he taught.

Esmeralda Lira: The most valuable is, like I said, the mortgage assignment and the reason why is because right now, especially right now, there are so many people that can’t sell.  So actually that’s another marketing thing I’d like to go out and start talking to physically to everyone that we can touch because there are a lot of people out there that think they can’t sell so they just abandon their homes.  With a mortgage assignment you can sell it.  And as REALTORs or investors we make our money, and as sellers, they’re happy because they get their home sold. That’s my favorite part.

Dani Lynn Robinson: Mine too. So the last thing I want to touch on is, you’ll remember when we first met I told you that ‘this isn’t rocket science, the results are typical if you do the work.’  So you gotta get out there, take the material, and actually get it done.  So I was talking to Esmeralda about that and she completely agrees so I’ll let her touch on that a little bit to.

Esmeralda Lira: Yes, what I did to get started was post cards, we would blanket a neighborhood, but it’s gotten deeper than that now. Now you really have to talk to people, whether it’s by phone or door knocking. It takes a lot of work because you have to explain the process to the homeowner, and the best thing to do is disclose, disclose, disclose.  So it’s really hard, you have to sit down and talk to the homeowner and convince them to do a mortgage assignment.  And then you have to talk to the buyer and convince them to buy the house and that it’s actually a good thing and not a bad thing.  So it takes lot of work, it’s not easy you have to go out and get it and sweat a little bit.

Mortgage Assignment Testimonial

Dani Lynn Robinson: So yeah, so money’s not going to land on your doorstep, but if you get out there and you do the steps. I know both Esmeralda and I have built our businesses around this and we’re very successful at it. So thank you very much for your time Esmeralda.  Is there anything else you can say that you think would be valuable for other REALTORS in other states that you learned from Phill and Shenoah, to kind of leave them with?

Esmeralda Lira: No, just get out there and talk to people, talk to the neighbors, talk to everyone on the street that’s in the neighborhood that you want to market.  And do your research, it’s not that bad, it’s easy, you might sweat a little bit though.

Dani Lynn Robinson: Ok, well thanks everyone for your time, I hope you thought that was valuable and we’ll see you later, bye.

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