German Llanos is the Broker/Owner of 24 Hour Real Estate LLC with offices in Chicago, IL and Miami, FL. He helped over the last 11 years to over 400 clients to buy, sell and lease Real Estate.

TAG: Performance

Fannie Mae announces program to boost Miami condo sales (sigue traduccion al espanol)

I have 8 clients with over 700 credit scores, more than $15K in down payment and most of them make more than $50K a year. All of them want to buy in Miami “those great condo deals”. All of them are no cash investors and want to play vultures here in the “Ground Zero” of Real Estate. The problem was: No financing… in the buildings with those deals. In the expensive ones, where the price doubles there is financing. If you wanted to buy 20, 30 cents out of a dollar…. it needed to be cash.

Well, good news! Fannie Mae announced a new program to provide financing. Now, is Fannie Mae a bank? Is she a rich aunt from Europe?

Nop. Fannie Mae is a government-sponsored institution who re-purchase the loans that banks make. Bank of America or Chase “originate” residential home mortgages but they do not keep those in their portfolio, they originate and immediately turn around and sell the loan to Fannie Mae (or Freddie Mac) for cash. Banks do not like to keep loans (portfolio) because it drains their liquidity for 30 years. They rather turn around, sell the loans for a discount, make a profit and keep moving forward.

The problem was that if Fannie Mae did not repurchase loans in specific building due to their bad finances and number of foreclosures…. banks did not want to lend on those buildings. Then without being able to resell many sellers went to foreclosure or sold at ridiculous prices.

Now this might change. Email me to send you a list of buildings with the “Special Approval” designation of Fannie Mae. As you can see there are dates for some of those because this status might change… so do not procastinate again!!! This is a window of opportunity so take it.

Give me a call for questions, we can go into more detail over the phone.


847-962-0923 /



Tengo 8 clientes con mas de 700 en su score crediticio, mas de $15,000 para downpayment y casi todos hacen mas de $50K al ano. Todos quieren comprar esos “increibles deals” de Miami. Todos ellos no tienen cash pero quieren ser esos buitres que se levantan los mejores deals. El problema es que No Hay Financiamiento…. en los edificios donde esta lo bueno. Los edificios caros, donde los precios estan mas del doble alli si hay. Pero si usted quiere comprar a 20, 30 centavos por dolar, tenia que ser cash.

Bueno, buenas noticias! Fannie Mae anuncio un nuevo programa para proveer financiamiento. Pero, es Fannie Mae un banco? una tia rica de Europa? Quien es Fannie Mae?

No. Fannie Mae es un institucion sponsoreada por el gobierno americano que se encarga de re-comprar los prestamos que los bancos hacen. Banco de America y Chase “originan” prestamos hipotecarios residenciales pero no se los quedan en sus portafolios, ellos originan e inmediatamente se dan la vuelta y los vende a Fannie Mae (o Freddie Mac) por efectivo. Los bancos no mantienen estos prestamos en su portafolio porque les quita la liquidez por 30 anos. Ellos mejor se dan la vuelta, los venden a descuento, hacen una utilidad rapida y siguen para adelante.

El problema es que Fannie Mae no compraba los prestamos en determinados edificios debido a las malas finanzas y elevado numero de casas reposeidas de los mismos…. los bancos entonces no querian prestar en esos edificios. Lo que terminaba pasando es que la gente que queria vender en los mismo terminaba en foreclosure o rematando las unidades de sus edificios pues los compradores no podian conseguir financiamiento.

Ahora esto podria cambiar. Escribanme un email y les mando la lista con edificios con “Aprobacion Especial” de Fannie Mae. Como puede ver hay fechas pues este status puede cambiar en cualquier momento. No lo piense 4 veces y deje pasar esta oportunidad.

Deme una llamada si tiene preguntas y vamos sobre mas detalle.


847-962-0923 /

The Comfort Zone

Sometimes in life there is a point when we reach certain stability. Maybe we are not rich or we do not have a perfect job but we say that: “it is ok for now”. We have money to pay bills and do some of the things that we like. We not extremely delighted about our life but we say that it is ok for us. I call it a “comfort zone” because this is not ideal but is the minimum that we accept as a happy life. For some people this point is represented for a $50K year salary, for other people means a stable relationship (not great… but mmm…ok), maybe own a nice car, homeownership, or a mix of those things. This is good because you are at a point were finally you feel that you enjoy life and are quite happy. The problem is that many people want to stay in this “comfortable” place only and not move any forward.
Why try to make $100K if you are ok with $50K? Why own a home when you are renting and this is quite ok? Why look for a more fulfilling relationship if our current spouse “is not so abusive” and it is not too bad? Why exercise when you are not too fat? Why having an MBA when a Bachelor’s is “good enough”?

Why take any further risk?
I have the theory that you either go up or you go down in life. There are no middle points. Let’s say that you are a Tech professional with a bachelor who has a good job with Microsoft and you make $120K a year. You are already working 5 years in the company doing the same job and plan to do this for the rest of your life. 1 year later you get “laid off” because the economy turned down not because you are lazy or stupid. You were among the “unlucky” 20% to get fired. You go back home and say: “I am a good guy, why I was so unlucky?”.

If you ask me I will tell you this, if you are making money for any company in the world unless they are nuts, they would never get rid off you. Nobody (in their right mind) throws gold into the garbage and no company lay off employees that are productive and valuable. If you got fired is because they did not saw value in your activities. You thought that being on time everyday and doing what they tell you to do you were going to be fine. When you have an idea to improve a process or develop a new line of business at work you “played safe” and kept it for yourself. After all trying something new implies certain level of risk and you do not want to take it. You were quite happy doing the same old thing and thought that will make it. That is wrong my friends, remember you either go up or go down you can not stay in the middle so you became to attached to the idea of the “comfort zone”.

We reinvent ourselves and all that we do everyday just to keep up. Please understand this is just to keep up. If you want to excel you will probably will need to go more miles than the “extra mile” (between you and me, everybody go the extra mile already).

Instead of thinking about this like overwhelming you need to think this as challenging. I see life like a journey, dynamic and with a lot of new things everyday. If you think that is static then you will see yourself going lower and lower. In this New Year let’s commit to get out of jails of our “comfort zones” and let’s challenge ourselves to do things that were challenging or new. Let’s commit to go to the gym 4 times a week and run that marathon that before looked impossible, let’s start that’s business that we have been postponing forever so we can be our own boss, let’s propose our new ideas to our management at work and let’s get them done. Let’s look for a promotion. Let’s try to make more money so we can build some savings in case we get sick or lose our jobs. We saw many people become rich with Real Estate, we see the news: rates are low, prices are amazingly cheap but we have been procrastinating because the more we analyze, the more we paralyze. Let’s build that passive income for those rainy days when we will not be able to work 80 hours a week.

Finally, when we are kids we dreamt about many things… it has been years since then… when all those dreams are going to become reality? Life is not endless. The time my friends is now. Please let’s stand up, get out of our “comfort zones” and let’s start living the life that we truly deserve. Let’s start to work and fight for that.

There are no more results.