Acting Freddie Mac CFO found dead

April 22, 2009 - 12:22pm

The home of David Kellermann, acting chief financial officer of mortgage giant Freddie Mac, is seen in Vienna, Va., Wednesday, April 22, 2009, after he was found dead at his home Wednesday morning in what police said was an apparent suicide. (AP Photo\Luis M. Alvarez)

 

VIENNA, Va. — David Kellermann, acting chief financial officer of Freddie Mac, was found dead in his Hunter Mill Estates home Wednesday morning in what police say was an apparent suicide.

Fairfax County Police spokeswoman Mary Anne Jennings tells WTOP police responded to the Kellermann home after family members dialed 911 at 4:48 a.m.

Sources tell WTOP Kellermann hanged himself.

“We were called from inside the house to come investigate an apparent suicide,” Jennings says.

“We’re not going to give you details of the condition of the body, except to say it was an apparent suicide.”

A medical examiner will determine the cause of death.

Police on the scene tell WTOP Kellermann’s body was found on the home’s lower level.

The Kellermann home sits on the corner of Raleigh Hill Road and Brittenford Drive in picturesque Hunter Mill Estates, a neighborhood of single-family homes outside of Vienna, just over the border from Reston. According to Fairfax County tax records, Kellermann’s home is assessed at $898,440.

Neighbors tell WTOP they are surprised to hear about Kellermann’s suicide. They knew him, his wife and young daughter from neighborhood parties and the pool.

“I’m in total shock. This is a wonderful family. This is the last thing I would have ever expected,” says Susan Unger, who lives across the street from Kellermann. “I’m saddened. It’s awful.”

Unger’s husband Paul says Kellermann was a “terrific guy.”

“We’re just shocked beyond belief. This is just a wonderful family — very family oriented,” Paul Unger says.

Kellermann, 41, had been with Freddie Mac for more than 16 years.

He had been named acting chief financial officer in September 2008, taking over after Anthony “Buddy” Piszel resigned. Freddie Mac’s CEO David Moffett resigned last month.

Government-controlled Freddie Mac, based in McLean, has been criticized heavily for reckless business practices. Some say those practices contributed to the nation’s housing and financial crisis. Freddie Mac owns or guarantees about 13 million home loans.

As CFO, Kellermann was responsible for the company’s financial controls, financial reporting and oversight of the company’s budget and financial planning.

Freddie Mac released this statement about Kellermann’s death:

“The Freddie Mac family is truly saddened by the news this morning of David Kellermann’s death. We extend our deepest condolences to David’s family and loved ones for this terrible personal tragedy.

David was a man of great talents. He dedicated those talents to Freddie Mac for more than 16 years, serving in many business and finance capacities before recently taking the reins as acting chief financial officer. His extraordinary work ethic and integrity inspired all who worked with him. But he will be most remembered for his affability, his personal warmth, his sense of humor and his quick wit. David was a friend to many in the Freddie Mac family, and we mourn his passing.”

Our prayers go out to his family and friends

cashflow Cindy

original Post found on link below:

http://www.wtop.com/?nid=600&sid=1657033

Real Estate Investing - It’s funny when I got into this business; I didn’t have a clue about being a landlord nor being a real estate investor.  Last year, I ended up holding in my portfolio two properties that I purchased to flip immediately.  However, was not able to sell them. 

However, as my blog states, I always buy with a backup plan when I buy real estate.  My backup plan was to rent them out if they did not sell. And I Did!

The single family house after rehab, all cost is $40K.  I put a Section 8 Tenant in this unit for $800.00 per month, we are paying the water. Talk about Cash Flow!!!!

(I had a young couple who looked at this property to buy for cash flow several times, each time they looked at it the price moved up higher and higher.  I chuckle to myself because, on the first showing I was willing to sell this property to them for $35K) 

I’ve telling you, if your a serious real estate investor you have to take Action and BUY NOW!  So many people look at a deal and walk away, they just don’t see the value in the deal. 

Here are two excellent cash flowing properties for under $40K.  The best part is they are fully rented and management in place.  NO loss of rents due to vacancies. NO stress with vacant properties as vandalism since a family resides in them. 

Rents are low; one year from now you can raise the rents very easily.  These properties are cash flowing properties and you need to buy one of them.

 http://serene.ewimultiplestreams.com/index.php?base=featured

Duplex that will be completed this week, have property management all lined up since it is an out of state duplex.  They are listed each side for $650.00; all into property for $60K. (Excellent Cash Flow!)

I had an inquiry regarding renting my out of state duplex as I was writting this blog.  This duplex will be rented out within 30-60 days. 

This property was a complete gut out.  I would not recommend you buy a large project rehab project like this one until you have several successful rehabs under your ability. 

If you are interested in learning more on Property Management Skills, I would recommend you purchased John Dessauer’s Property Management Program for $49.00.  (What a steal!) I truly don’t understand Why John is selling this program so inexpensive.  He is a great teacher and offers a wealth of information for $49.00.  If you learn one technique for $49.00 that saved you Thousands in lost rents or tenant destruction then your $49.00 was worth the purchase.

Find Your Life’s Freedom’s! Take Action Now!!

Otherwise, join your local Apartment Association to learn the in’s and out’s of Property Management.  This is an area that you need to learn new skills otherwise your looking into having issues with your investments. 

 Find Your Life’s Freedom’s! Take Action Now!!

Real Estate Investing – As we are finally winding down from the long winter months, its time to pull up our For Rent Signs.  For those of you who are familiar with the cold winters in the Midwest, you know once the sign are in the ground before freezing the sign is staying until the ground thaws.

Anyway, its always interesting attempting to put up For Rent Signs in the middle of winter when the ground is froze.  With Wisconsin having so much snow this last winter I used the huge snow files to my advantage of holding up my For Rent Signs!

I’ve discovered the snow wipes off my phone number on my For Rent Signs.  Today, I am re-writing my phone number so I can place it in front of my last vacant unit.  I had a prospect who wanted to move into the unit however after checking her references out; I denied her. 

Her last landlord, whom I know well, instructed me she was a trouble maker for the other tenants.  She used to live in a apartment building with over 16 units.  She would be living in a side by side duplex.  I also contracted her aunt who had kicked her out of her house.  Her aunt would not give me a good reference for her, her only answer was, Yia, ya, ya, ya …….   Huge Clue! 

You guessed it, Don’t Rent to this person, if you do, you are looking for trouble!

Find Your Life’s Freedom’s! Take Action Now!!

Otherwise, join your local Apartment Association to learn the in’s and out’s of Property Management.  This is an area that you need to learn new skills otherwise your looking into having issues with your investments. 

Find Your Life’s Freedom’s! Take Action Now!!

Real Estate Investing – I get emails on a daily basis of individuals who have spent over $30,000 on real estate investing courses and seminars.  At this point, they have not purchased one piece of real estate.

What is holding these individuals back?  FEAR

If you want to conquer fear then knowledge on real estate investing will take care of the fear.  The other item you need to do is have multiple exit strategies when you buy real estate.

When I buy real estate; I always have a second strategy in mind and it is to rent the property out.  I always ask myself the question, how much are rents in this area?  Will this property cash flow?

Will the rent cover all expenses as mortgage, taxes, insurances, and management fees?

If it doesn’t then I have a couple of choices?  The first one is to negotiate for a better price to make the property cash flow.  If the seller is unwilling to lower the price….then I go to my next favorite strategy as

NEXT….

I work on my mind daily by listening to several different programs and reading books daily.  Whenever I read a book and they recommend another book.  I purchase the book or get the book from my local library. 

Do you know only 3% of Americans have library cards?

 Many of these programs that I own you can obtain a copy at your local library for free….  As many of you are saying, well I lost my job I am unable to go buy books or programs….   Go to your local library.  The best part is many libraries are integrated:  Meaning if the library closest to you doesn’t have the item you are looking for they have access to your book or audio at another library.

With the advent of the internet:  you can search for items of interest in your own home, select the location closest to you for pickup,  all for FREE

They even delivery your items to your local library for FREE!  Go ahead and become part of the 3% and get a library card.

Go get yourself a copy of Bob Proctor’s, YOU WERE BORN RICH book.  If you are unable to find it email me at knowhowknowhow@gmail.com   and I will email you a copy of the e-book for FREE.

Every morning the first thing I do is listen to Bob Proctor’s SixminutestoSuccess

http://store.sixminutestosuccess.com/?aid=583954

 Bob teaches me daily inspiration messages.  Since they acquire only six minutes of my time they are implanted into my mind for the whole day. 

What Does Crime Free Mean?

The Crime Free Program is to warn tenants that there is serious consequences for anyone affiliated with illegal activity on or near the designated area.  These consequences can include immediate termination of rental agreements and the eviction of renters, their family members, and guests.

deals, deals, and more deals    http://serene.ewimultiplestreams.com/index.php?base=featured

The One Strike You’re out policy has been applied to all Federal Section 8 (low income) Housing communities across the United States.

Signs posted on the property state that the property has Joined the Crime Free Program.

Renters are required to sign a Crime Free Lease Addendum.  At this point, Management adopts a Zero Tolerance policy to criminal activity, and enforces the civil contract signed by the renters.

The Program requires people to live a crime FREE lifestyle.  It’s the same as a drug free school zone and a drug free work place.

This program was designed to help tenants, owners, and the managers of rental property keep drugs and other illegal activity off of their property.

This program is honest and direct.  It is solution oriented.  It is designed to be easy, yet very effective in reducing the incident of crime in rental property.

The program utilizes a unique three-part approach, which ensures the crime prevention goal while maintaining an approach, which is very tenant-friendly.  When each phase is completed a certificate of completion is awarded.

Phase One  involves  a 6 to 8 hours training seminar presented by the Police Department and your local Apartment Association.  This training is for the property owners and key employees.  The property must institute an applicant screening process that is used in a consistent manner, and use the Crime Free Lease Addendum.

Phase Two will certify that the rental property has met the security requirements for the tenant’s safety.

 Phase Three management must host a tenant crime prevention meeting, and be encouraged to start an Apartment Watch Program. 

After all of the requirements are met, the managers will be granted the use of the Crime Free Multi-Housing Program signs for display on the property.  The management will also be granted the use of the logo in all advertisements.

After the property is fully certified, it is necessary to maintain the standards set forth in the program, in order to maintain membership in the program.  Membership is renewed on an annual basis.

Continuation in the Program
Once a year a follow-up is completed to insure all requirements are being met.  Examples include use of the Crime Free Lease Addendum, background checks, and holding an annual landlord/tenant and police meeting.  If all requirements are not being maintained, it’s up to the manager/owner to comply.  Failure to correct the deficiencies will result in the property removed from the program.

deals, deals, and more deals    http://serene.ewimultiplestreams.com/index.php?base=featured

How do Landlords Qualify for Section 8 Funding? (part 2)

The units must meet the standards as outlined by the PHA to qualify for Section 8 funding assistance. If the unit for rent meets the standards, the landlord will receive a payment from the PHA when the tenant moves into the rental unit. Landlords must offer reasonable rent for their area in order to qualify as well. To apply, landlords must apply to Section 8 for consideration.

Vist us to find fully rented cash flow properties:

http://serene.ewimultiplestreams.com/index.php?base=featured

While low income households may not be the only market that you serve as a landlord or even the most desirable in your mind, there is a tremendous amount of financial opportunity that is worth consideration to serve this marketplace. One of the biggest advantages of the Section 8 program is protection from the PHA for this group of renters. Part of the monthly rental obligation is covered under this program, often offering financial assurance to the landlord.

Are you looking for cash flowing properties?  1 year leases in place?

http://serene.ewimultiplestreams.com/index.php?base=featured

Owning rental real estate is an excellent strategy for not only creating a current stream of income, but for building personal wealth. As you consider all of your available rental real estate strategies, be sure to consider the Section 8 program, the types of rental properties that you are considering and how your overall investment strategy may benefit from these funding opportunities.

Are you looking for cash flowing properties?  1 year leases in place?

http://serene.ewimultiplestreams.com/index.php?base=featured

Real Estate Investing:  Now you have your Section 8 Tenant for your unit.  What is the next step?

How will you receive your security deposit if these families have no income?

You or your tenants need to find out what services are officered in your community for low income housing.  In my particular area:  We have Leaven, St. Vincent De Paul and Salvation Army.  Leaven will assist the families one time in a certain time period.

I have a section 8 tenant moving into my property Feb. 1^st.  Leaven called me to inform me they will pay $400.00 towards her security deposit.  The full security deposit amount is $595.00 to rent this unit.  The tenant needs to come up with the balance of $295.00 prior to moving into the property. 

This tenant met with St. Vincent De Paul yesterday.  Their requirement is to step inside the property.  They don’t inspect the property.  They want to verify the funds are going toward her rent or security deposit by seeing the unit.  St. Vincent De Paul is a charity donation organization.  They don’t screen their tenants or ask for services in return for their monetary donation. 

Tip:  Real Estate Investing is hard work and you need to educate yourself on the laws in the areas your investing.

All of these organizations will contact you by phone to speak directly to you regarding the donation toward the rent or security deposits.  Leaven told me on the phone they will assist with $400.00 toward her security deposit.  However, the tenant needs to prove they paid the balance of the security deposit and received the keys!  I instructed her, I would contact her either Monday or Tuesday next week to meet Leaven’s criteria of releasing the funds.

Please post your questions or concerns with Section 8 for all of us to learn together!  The more we communicate and share experiences the more successful real estate investors we become.

Remember to order Zig Ziglar’s Goal Setting audio.  Its a small investment for you to learn how to write your GOALS for 2009 on Real Estate Investing.  If you don’t have a path or direction for yourself then you will help someone else achieve their dreams and goals.  If this what you want?  listen to 3 FREE audio’s!

Without clearly defined goals, you simply can’t achieve the success you want! In Goals, world-renowned motivator Zig Ziglar guides you through a clear, beautifully organized ’success trip.’ Along the way, you’ll learn how to recognize and set your goals. You’ll learn techniques for finding extra time you didn’t think you had and for cutting down big goals to easy-to-handle size. Now you can take advantage of this all-important opportunity to write your ‘business plan for life.’

 Real Estate Investing: 

How many of these resolutions to you believe are actually maintained as the year progresses?

Past 1 week: 75%

Past 2 weeks: 71%

Past one month: 64%

Past 6 months: 46%

While a lot of people who make new years resolutions do break them, research shows that making resolutions is definitely useful. People who explicitly make resolutions are 10 times more likely to attain their goals than people who don’t.  (Interesting fact)  To become even more successful you need to write your goals down on a piece of paper.  Successful Real Estate Investors have goals written down on piece of paper.

Source: Auld Lang Syne: Success predictors, change processes, and self-reported outcomes of New Year’s resolvers and nonresolvers, by John C. Norcross, Marci S. Mrykalo, Matthew D. Blagys , and University of Scranton. Journal of Clinical Psychology, Volume 58, Issue 4 (2002).

Every new year, we make resolutions. It makes us feel like we’re getting a new start on life. We’re full of hope and anticipation for the upcoming year.

But it seems that every year the same thing happens. Within a short time, the enthusiasm and hope dissipates in day-to-day life. And there’s one more year that your New Year resolution has fizzled out. Then we feel deflated, sad and guilty; we broke our promises to ourselves. You may even justify your failure to follow through with a multitude of reasons… all of which you know could have been overcome had you had the right systems, strategies, and willpower in place.

Research shows that half of the people who make good resolutions upon the New Year have given up on them by the end of June. It doesn’t matter what their New Year resolution was — to lose weight, exercise, get more sleep, career advancements, an additional stream of income, or better money management.

Now, that was the pessimistic point of view. The optimistic view is that half of the people succeed!

Which Half Do You Want To Be Part Of for your real estate investing? 

 His voice radiates with enthusiasm when he speaks. I believe you will enjoy his Goal Setting audio’s as much as I do. He will help you achieve your dreams even if they are buried underneath the stress of your daily lives. Zig Ziglar will teach you how to bring your dreams back to life again. He did for me.

You need to invest in yourself for 2009 to get what you want out of your life in 2009. I listen to audio’s 4-5 times a week to learn new ideas or be inspired. Click on picture below to listen to 3 free audio’s samples. Enjoy!

Without clearly defined goals, you simply can’t achieve the success you want! In Goals, world-renowned motivator Zig Ziglar guides you through a clear, beautifully organized ’success trip.’ Along the way, you’ll learn how to recognize and set your goals. You’ll learn techniques for finding extra time you didn’t think you had and for cutting down big goals to easy-to-handle size. Now you can take advantage of this all-important opportunity to write your ‘business plan for life.’