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 – 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- SixMinutestoSuccess

 I am a firm believer in investing into ourselves by taking a class on a topic you always wanted to learn or taking more Real Estate Investing Classes.  For those of you who are investing in Real Estate you’re familiar with how many different strategies there are too learn.  You have to keep investing in yourself by real estate seminars or reading real estate books.  The other part people tend to forget about is self development books and programs.  We all can use a bit more confidence and these self development programs keep us strong in our minds.  A weak mind will get you down the wrong path.  We need to keep our minds healthy and strong. 

With the advent of the internet; video education is available all on-line.

What a great way to learn sitting at home on your computer.  The best part is you can listen to the videos whenever you have free time!  You can listen to the videos at 1:00am. If need be.  Each Day Monday-Friday you listen to a video from Bob Proctor.  Yes, you are taking six minutes out of your day to learn and focus on your task for the day.

I discovered Bob Proctor’s SixMinutesToSuccess Video’s.  His videos are motivational and inspirational.  The best part is Bob teachers us in order for us to achieve WE MUST BELIEVE! 

You can apply his teachings to any part of your life be it Real Estate Investing, a better family life or work life.

Go ahead and listen to his video and invest in yourself. 

EARN MONEY WHILE YOU LEARN:  SixMinutestoSuccess is an affiliate Program.  You can earn money by telling your family and friends about his self development video.  Refer 4 people to his SixMinutesToSuccess Program and you get yours FREE!

Real Estate Investing:  Real Estate investing is fun and enjoyable to me.  However, tenants are always interesting.  The last tenants who gave their 30 day noticed had a dog and a cat.  They paid an extra $50.00 each month for their animals.  I always get $25.00 per animal.  Animals cause damage and you need to cover your cost.  Don’t feel bad about charging $25.00 or more per month for animals.  This is a business and the upkeep on the property has to come out of the income.  If you don’t charge for the animals you will once a tenant’s animals do damage to your property. 

I don’t want to deter anybody from Real Estate Investing because I love this business and intend to buy more properties in 2009.  However, we need to share stories with each other to learn what not to do so we can put more money into our pockets.

These 2 girls gave their 30 day noticed and assured me it would be available to show at 4:00pm.  I had a gut instinct so I ran over to look at the apartment prior to my showing.  I was flabbergasted when I walked into the unit.  The unit was in complete disarray!  With a note on the kitchen cupboard stating “The CARPET IS RUINED and needs to be replaced.”

More on Tomorrow’s blog on Real Estate Investing - Tenants:  Please write in your comments.  I would love to hear your thoughts on this situation.

The majority of Real Estate investors were buying in California, Florida and Las Vegas the last several years.   All of these areas were experiencing high appreciation the last several years.  The main reason they purchased the properties in these area was due to the high appreciation rates.  They purchased a property for $250,000 and six months later sold the same property for $300,000.  Today many of these speculative investors are upside down on their gambled Real Estate Investments.  These properties were bought in hopes of appreciating vs. on the Cash Flow Technique.  And Cash Flow the Don’t or Won’t! Today they either lost them to foreclosure or are pulling hundreds of dollars out of their pocket to pay the mortgage each and every month.  They are unable to sell the property due to fallen Real Estate Prices.    http://serene.ewimultiplestreams.com/index.php?base=featured

I only buy properties on using ‘The Cash Flow Technique’.  If the numbers don’t work then I use my favorite word, “NEXT”.  If anybody tells you Real Estate Investing is easy they are being untruthful to you.  Real Estate is work!  However, the hard work does pay off for you and your family by huge tax breaks and purchasing appreciating assets vs. depreciating assets as cars, snowmobiles, ATV’s.

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