The Foust Team is comprised of Bob Foust,Certified Negotiation Expert, and partner Todd Foust as the principle active real estate agents. They specialize in Orange County California and the surrounding areas. Bob is the senior partner in more ways than one - first licensed in Indiana in 1968. Todd is the new wave, internet savy, future of the real estate business. Both Bob and Todd are seasoned investment specialists with real life, personal experience as well as top performing residential agents. Both also have commercial experience in sales and leases. Both have very positive outlooks on the long term future of real estate and real estate investing. Homes and rental properties each have their place in an investment portfolio, but diversification is the key to long term stability. Seasoned and new investors are encouraged to continue to think long term, real estate is not a "day trading" endeavor.
Bob held his first brokers license in 1969 in Indiana and has been involved in Real Estate, as both an investor and/or an agent until the present. He currently holds a sales persons license in the State of California and specializes in home sales as well as residential and commercial investment property from Central California to San Diego.
He graduated from Purdue University with a degree in metallurgical engineering and transitioned into management eventually becoming General Manager for TORO Irrigation Systems and later Accuride International. Bob brought a rich and diverse business background with him when he decided to pursue his true passion in real estate. When asked what sets Bob apart from most other agents, he states that "A relentless work ethic, an ability to perform under pressure, and a fine attention to detail are skills that too many agents lack and coincidentally where I am able to excel." He goes on to say that "Too many agents operate loosely and only when it's convenient for them. This philosophy is simply unacceptable in the modern competitive business world. But don't get me wrong, I'm glad they operate this way, it only makes us look better!"
Bob is also active in the community where he lives. He is a member of the Fullerton Rotary Club, the Save The Fox Organization, as well as trade groups like RIAOC ( Realty Investment Association Orange County), and does weekly community service at a local senior citizen home. In his spare time, Bob enjoys spending time with his wife Sue and their two dogs. He says, "My wife is instrumental in keeping me sane in this stressful business and I can't tell her enough how much I love, admire, and appreciate her and the constant support and understanding she provides.
Bob keeps the family in the business by working with his son Todd. About his business partnership with his son he jokes that, "Sometimes it feels like the two of us are married......only we're teetering on the brink of divorce!" He goes on to say that "All kidding aside, I couldn't be happier with our partnership as our strengths compliment each other very nicely. Todd brings a lot to the table, genetics being only part of the equation, as I honestly can't think of somebody who can do what he does better than Todd is able to do it.
As far as performance goes, Bob has proven himself a top producer by recently winning the coveted Century 21 Centurion Award, an award that recognizes the top 5% of all Century 21 agents nationwide, in 2004, 2005, 2006, 2007, and 2010. Bob has set the FOUST Team's annual goal of winning the very elite Double Centurion Award and is currently on pace to do just that.
Formal Education: Bob Foust
Holds Bachelors Degree in metallurgical engineering from Purdue University Graduated Alpha Sigma Mu (Top 10% of the University) Graduate of Allied Business Schools Real Estate Principles & Practices Course
Real Estate Associations and Licensing:
First Brokers License held in 1969 Holder of Real Estate Salesperson License Member of National Association of REALTORS (NAR) Member of California Association of REALTORS (CAR) Realty Investment Association Orange County (RIAOC) member Holder of Senior Real Estate Specialist (SRES) designation
Real Estate Sales:
Successful sales of over 32 million dollars worth of real estate in the past 3 years Winner of prestigious Centurion Producer Award (Top 5% of all agents) Chief Executive of FOUST Asset Development Team Approximately 35% of all sales classified as investment property sales
Real Estate Investing:
Has successfully owned real estate investments since 1968 Has owned real estate income property since 1969 Current owner of multiple income-generating rental properties Located some of the only Orange County property with positive cash flow (05-06) Serves an active network of experienced real estate investors Member of Realty Investment Association Orange County (RIAOC) Attendee of monthly RIAOC seminars and lectures
Purdue University Alumni Association, The Rotary Club - Fullerton (Main), Fullerton Retirement Inn Volunteer, Friends For Pets/Little Bow Wow Rescue (animal rescue shelters) donor, Save the Fox Theater in Fullerton donor
Todd is the youngest member of the FOUST Team but don't let yourself mistake young for inexperienced. Todd is the active "marketing guy" and as such is responsible for bringing clients property to the biggest/best markets possible and ultimately getting them sold. Doubling as the teams inventory specialist, he views hundreds of properties every week to find the best homes for clients and/or opportunities for investors. Todd graduated from Cal State University of Fullerton with a Bachelors degree in Business Marketing. Meanwhile, Todd was starting out on his professional career by taking the advice of an admired teacher that told him he'd have to learn how to sell if he ever wanted to be successful in anything. He first cut his teeth by taking odd jobs selling everything from industrial packaging to yellow page ads. He reflects on those rookie years with a positive attitude by taking in the lessons learned and states that "I'm glad I stuck it out because selling is one skill that isn't emphasized in school but is so important in life, not just in business." Todd was able to combine this skill as well as his marketing savvy to yield big results in the selling of client's properties for the FOUST Team. About this Todd says, "It's ironic that in a business where customers want and need a salesperson, that so many agents don't have so much as a hint of salesmanship and are so uncomfortable about their chosen profession that they shy away from describing themselves as "salespersons." Instead they hide behind kinder gentler titles like real estate "consultant" or "advisor." We find that in most instances customers don't want us telling them what to do, but if they want our information or advice we're happy to give it to them. By in large, what they do want us to do for them is handle their transaction, find them property, and ultimately SELL their property!" Todd is also a firm believer in continuing his business education as well as giving back to his community. He regularly attends RIAOC ( Realty Investment Association Orange County) meeting and seminars to keep current on the continuously changing real estate markets. To aid in the restoration of the Fox Theatre in Fullerton, he volunteers time and money to the Save The Fox Organization and its related events and projects. As an active member of the Cal State University of Fullerton Alumni and Professional Associations, he regularly volunteers to help with their fundraising events. Todd also does weekly community service at a local senior citizen home that he says really helps to put the business day back into perspective. For recreation, he enjoys being on the ocean pursuing his other passion of sportfishing. To help ensure there are fish for future generations to enjoy, he is dedicated to fisheries conservation through organization like UA (United Anglers) and the RFA (Recreational Fishing Alliance). Todd works as a partner with his father, Bob Foust. Commenting on their business relationship he states that, "It has its difficult times but it also has its wonderful times. I don't think either of us would want it any other way." He goes on to say, "Sometimes I just can't believe the persistence and work ethic that my dad is able to bring to this business. Somebody once condescendingly asked me (they usually ask me when they don't have the guts to confront him), ‘Your dad is always working, it's hard to imagine he has an outside life. I mean ....like....what does he do for fun?' I looked at them quizzically and shot back ‘REAL ESTATE.... duh!'
Formal Education: Todd Foust Graduated with High Honors from Sunny Hills High School in Fullerton Degree in Business Marketing from CSUF School of Business and Economics Graduate of Allied Business Schools Real Estate Principles & Practices Course Real Estate Associations and Licensing: Holder of Real Estate Salesperson License Licensed REALTOR Member of National Association of REALTORS (NAR) Member of California Association of REALTORS (CAR) Realty Investment Association Orange County (RIAOC) seminar attendee Real Estate Marketing: Successful marketing & sales of over 20 million dollars worth of real estate over the past 2 years. Chief Marketing Executive of FOUST Asset Development Team Background as advertising consultant/coordinator/designer for national publisher Innovative and proven marketer of numerous rental income properties Author of numerous published real estate articles Real Estate Investing: Bank Repo (REO), Short Sale (Pre-forclosure), and Fixer-Upper Expert Owner of multiple income-generating rental properties Located some of the only Orange County property with positive cash flow (05-06) Serves an active network of experienced real estate investors Member of Realty Investment Association Orange County (RIAOC) Attendee of monthly RIAOC seminars and lectures Successful property management track record Community Groups: Cal State University of Fullerton Alumni Association Fullerton Retirement Inn Volunteer Friends For Pets/Little Bow Wow Rescue (animal rescue shelter) donor Save the Fox Theater in Fullerton donor and volunteer United Anglers of Southern California member/volunteer
Satisfied Sunny Hills West Home Seller
Owners of 2259 Camino Rey
November 1, 2008
We would like to express our gratitude to Bob and Todd Foust of Foust Asset Development for the outstanding service in the sale of our house in Fullerton, CA. This was our first experience in selling a home and we were very happy to have such professional and experienced agents. They made the entire process very easy and were always available and happy to answer any questions we had. They provided excellent local resources to help in the preparation of our house for sale which helped make the whole process proceed smoothly.
The Foust Team went the extra mile, literally, and found a buyer in another state and put together an unusual but very satisfactory arrangement that met both our needs and those of the buyer. And despite the current flat housing market they found our buyer and closed the deal in record time.
We highly recommend Bob and Todd Foust and their team to anyone looking for professional, friendly, and expert real estate agents.
Bruce Meier (signature on file)
Kathy Lucero (signature on file)
Foust Team is very unique in that both partners are heavily involved in investment properties. Rental income homes and condos are a key part of their personal portfolio of investments. They manage their own properties and at times will manage for others. Finding and teaching new (first time landlords) is a very unique service that they uniquely provide. With over 30 years of landlord experience, who better to learn from?
Bob and Todd manage normal transactions with ease and very personal attention. They will make the transaction seem easy even when it is anything but easy. The tougher transactions are their specialty -- from REO (bank owned) properties to the long and difficult "short sales (which can be anything but short). Trust the pros, they have the experience and fortitude to handle it all.
Please see our resumes above.
See our blog below:
Thanks for looking at us. Bob and Todd
Creating Wealth and Income via real estate.
How can real estate make me money? - Very good question. Answer: There are several ways, both long and short term, and in varying degrees of risk. Yes, risk. All investments involve risk, but we need to avoid undue risk and manage the unavoidable risks. We can help.
Real estate investments -- we will outline and discuss investments, not "flipping" and not "making a quick buck"-that is speculation, rather, we want to consider solid investments. Think of real estate as long-term, not a fast buck. Real Estate Investing is like a marathon, not the 100 yard dash.
Why invest? -- -- to increase wealth and/or increase income -- over time.
When is the right time? -- -- Time is your ally in the real estate market. What I mean is that time will produce shocking results if you invest wisely. My favorite answer for those asking "When" - is a tongue in cheek "yesterday." The sooner you start a mortgage, the sooner it will be paid off (by your renters of course).
How to invest? -- -- income producing property -- usually rentals, either residential or business (not your home, that is not liquid). We are talking about investing in addition to your home. Become a Landlord
Benefits of investing;
A -- Renters will pay the mortgage on your property for you. After the mortgage is paid off, all the rent will then be pure income.
B -- The value of your property will increase over the years. For example, California residential values have grown at an average compound rate of 5% per year for the last 27 years. This is classic wealth building, and your personal net worth will soar, all the while using other people's money (OPM) to pay the expenses. And by the way, you are applying leverage to increase your wealth.
C. -- Immediate income tax deductions -- all operating losses of an income producing investment (rental) are deductible against your current year's income. This is a substantial tax advantage for the owner.
D -- Another income tax deduction -- depreciation of the income property is also a deduction for the owner in the current year. For example a $400,000 rental home is depreciated over 29.5 years to give the owner a $13,559 deduction applied to each year's ordinary taxable income. Nice!
E -- Positive cash flow -- as the owner raises the rents regularly, cash flow increases for the owner, who then has a nice source of monthly income. In the long term, especially after the property is paid off, the rent can be viewed as a nice retirement income.
We've touched on some of the very positive benefits of investment property, but the subject is so important that much more detail must be presented and studied.
Please contact us for any question and our in depth reports on Risk, Operating Guidelines, and our Hints and Tips for Landlords.
What is a FICO?
Mortgage interest rates have varied by loan-to-value and term only. On "A" borrower mortgages, variations in credit risks were not generally taken into consideration. Any variance in interest rates were primarily due to the additional charge for private mortgage insurance(PMI) on home loans with loan-to-value ratios greater than 80%, or higher rates to the length of the amortization (30 years, versus 15 years). The exception to this trend is sub-prime loans.
Sub prime lenders are lenders who specialize in providing loans to borrowers who cannot qualify for traditional financing due to credit impairment or difficult to verify income. These lenders have been using risk-based pricing for years, the greater the risk to higher the interest rate.
A leading credit indicator used by lenders to determine risk-based pricing is FICO (Fair Isaac Company) Score. Mortgage lenders use FICO scoring to speed up the loan application process by simplifying credit review. Fannie Mae and Freddie Mac have also incorporated FICO scoring into the credit documentation requirements on prime mortgage loans.
FICO scoring is a formula for credit risk assessment that is believed to be highly predictive of future payment risk. The borrower's score is derived by weighing credit information at a snapshot in time and assessing the "points" for each piece of information. The information is taken from a credit bureau file and scores are based on credit information only. By law, an applicant's credit worthiness cannot be judged on race, religion, marital status, gender, or nationality. According to Fair Isaac, the information is therefore objective, consistent, and does not discriminate.
FICO scores can fluctuate, however. Depending on the credit repository the information is taken from, and the geographical location of the borrower, there may be more or less informational available, which leads to variations in scoring.
The borrower's score is calculated based on the assigned numerical values for certain credit characteristics. The higher the overall score, the less risk there is for the lender.
High-risk characteristics are:
Bankruptcy Non-bankruptcy derogatory public records Charge-offs or loan defaults Repossession Serious delinquency.
Additional characteristics that determine credit scores are:
•1. Number and age of trade lines
•2. Presence of derogatory trade line information.
•3. Current level of indebtedness
•4. Type of credit available (revolving versus installment)
•5. Amount of time credit has been in use
•6. Credit inquiries.
Credit usage is the key factor. Each characteristic is weighted according to its "predictive power." Those factors with the highest weights are collections, judgments, bankruptcies, late payments, current balances, too few or too many revolving accounts, finance company accounts, number of accounts opened in the past 12 months, collections, and the number of credit inquiries made.
FICO Scoring looks at credit patterns over a period of time. In other words, one late payment will not run your credit score. However, a history of late payments and high credit balances will have a serious effect on an individual's score.
Errors on credit reports occur for many reasons. In case of a divorce a buyers credit may be impacted if the spouse does not maintain payments, even if the court has made their spouse responsible for the outstanding debt. If a buyer has a bankruptcy that was discharged, there may be outstanding charge-offs or unpaid collections on the report that in fact were discharged through the bankruptcy. Everyone is encouraged to check their credit reports at least once per year.
If a buyer feels there are errors contained in their credit report should contact the credit bureau. According to the Fair Credit Reporting Act, borrowers may fill out credit dispute forms and file and file them with the credit bureau for investigation.
They may also do so by contacting the appropriate credit repository. The three repositories are listed at the bottom of this article.
Counseling of buyers before they go house hunting is imperative. New debt, particularly for major expenditures has an immediate negative impact on a buyers score. Bills need to be paid on time, all the time. Delinquent payments and collections will have less effect on their score over time. Borrowers need to pay down balances on open trades. Be aware that the revolving debt has higher negative impact on the borrower's score than installment department. "Shopping" for credit and opening a new credit card accounts to pay off old accounts will influence the scores. Minor differences in FICO scores can increase the interest rate significantly, as well as increase the documentation required by the lender to obtain a loan.
Credit scoring has assisted lenders in identifying risk factors in financing a home for borrowers with credit challenges. A wide variety of home loan products are available to those buyers through alternative lenders. Borrowers with low credit scores are now more than ever before, able to purchase or refinance homes. Don't make the mistake of walking away from finding a good home just because you "think" you are a buyer who cannot qualify for a traditional lender.
Credit Information Repositories:
Experian (TRW): 888-397-3742
Trans Union Corp.: 800-916-8800
|With his experience and broad knowledge helped buying my 1st home in Fullerton, CA. I strongly recommend him. Thank you again, Bob !|
|Bob and his team are remarkable folks to work with. Technical, responsive, and very helpful, Bob has an impressive command over the area, and real estate in general, and has provided us the quality of help only an expert and true professional can share.|
|As I am a professor at a local University I am accustomed to grading students on their assignments. It is my philosophy that all scores should be earned by hard work and diligence, not merely awarded for being present. I can honestly say that Bob Foust earned an A in my grade book. He and his partner, Todd Foust, guided me through the entire process of buying my first home. Their knowledge, skill set, and persistence helped me get a condo at an affordable price in a fantastic neighborhood.|
Real Estate guides from TEAM FOUST,Master Certified Negotiation Experts specializing in Fullerton Real Estate and Orange County Homes, Brea, Anaheim, Yorba Linda, Placentia, La Habra, and La Mirada.