Testimonials

"Wow, this is PHENOMENAL!"
--Mark Favaloro, President Aamtrust Mortgage

"I'm more a fan of nuts and bolts lectures and not a big fan of 'fluff' and I think you did
a good job of being informative to us old-timers and passionate enough to fire up the
newcomers."
-Steven Conklin, Associate Member

"You'd have to be crazy NOT to join!"
--Presley Acuna, Associate Member

"I just wanted to update you on my property in Pittsfield on Harvard Street....I did close
with Brookview yesterday on that property. At least they did come through for me on this
property...I, also, now have some private lenders in place for any future deals.
I want to thank you for your encouragement, you really care about investors.
I look forward to next weeks meeting, it looks like a great one. I will be there.
--Donna Landers, Associate Member

I thought it was one of the better real estate
investor groups I have seen in the area in over a decade. Nice work without question. Look forward
to staying involved with it.
--Paul Buoni, REMAX Premier

"Hi Bob, I wanted to thank you for the invite and let you
know how impressed I was with the event. It was very professional and exciting!"
--Giacomo Sinisgalli, Pres., CREA New York International Real Estate Corp.

"Where the hell are we? Rushee?"

Larry "the Cable Guy" used to call in to our local radio station and would often preface his comedy bit with the line, "Where the hell are we, Russia?" and then proceed to do a bit about some supposed infringement on his freedoms.That line was running through my mind last night when the Fox attended a fantastic seminar sponsored by the New York State Real Estate Investors Association. This event, the second of NYREIA's very popular public conferences, was held at Hudson Valley Community College and sponsored/managed by the group's founders, Investor Bob Eberle and his wife Cheryl, as well as their fantastic support team who did a great job with the large group of investors and wannabe investors who attended.Cheryl Eberle did a segment on NY's new "equity theft" law which was recently passed in NY and modeled after Maryland's similar legislation. The law, which Cheryl says contains lots of very ambiguous language, purports to protect NY homeowners from foreclosure assistance scams. How about "the transaction cannot be unfair or commercially unreasonable" for opening the litigation floodgates? Sure makes you want to jump into the NY foreclosure market, eh? How about limiting your profit on a deal to 18%? How about requiring you to be six days out from foreclosure to get a contract? All features of this pearl of NY legislative wisdom!

Mrs. Eberle continued in reference to buyer's attorneys and litigation under the new legislation "incredibly unfair is that there is no right to arbitrate with someone in foreclosure… You absolutely have no right to arbitrate that at all - period." Further and even more disturbing she stated, "You cannot use an attorney that you typically use, nor can you use an attorney that is affiliated with you…. What does that mean? Every time you do a deal, you need to use another attorney, because once you do a deal with them, now they're affiliated with you."

Astonishing! She asks, "Are we in America? I'm beginning to wonder". Me, too…

An audience member asked if this was even constitutional, exclaiming, "It sounds unconstitutional… You have a constitutional right to use the attorney of your choice!"

I agree with Cheryl, is this America or what?

Sadly, that's not the worst part of this poorly crafted, industry depressing legislation, which would see property owners at risk to lose their investments up to two years after the purchase.See www.nyreia.org for more info and consider this a hearty recommendation for the New York State Real Estate Investors Association and Bob Eberle. He is already becoming a local investment guru and has the track record to back up his statements! He keeps his members informed and up to date. Their knowledge "toolboxes," as he calls them, are stuffed with deal-making gadgetry. Don't start investing in upstate NY without checking out at least one of these seminars!

Many thanks for the invitation, Bob, and see you at the next meeting!

Matt Landry, Foreclosure Fox Editor.