Where Serious Short Sale Investors Come To Get The Good Stuff...

Dear Student I’ve had the privilege to teach short sales to over 20,000 people in the last 8 years. During that time I personally managed to purchase more than 350 houses from people facing foreclosure. And our team continues to do so every day. This real life momentum has spawned thousands of successful students, and dozens of new short sale experts, who now teach the business while running their own powerful house buying businesses. I’m darn proud of this legacy. The techniques and strategies you’ll find embedded in our seminars and information products on this site were at one time proprietary to only my staff and a few key students. Over the years, we’ve created and innovated these techniques ourselves. When I first started teaching, no one ever knew what a short sale was. Through our now much expanded network, and open sharing in countless hours of private one on one group masterminds, even visiting large bank mitigation centers across the country, we believe we have assembled the most accurate and practical short sale information available. Our personal deals and my short sale advisory board, including our on-staff loss mitigators continue to innovate and refine these strategies everyday. And it’s my goal to make YOU an expert in this field. Once you take this opportunity and run with it, the information on this site will take you places you’ve never even dreamed of.

STARTLING GOOD NEWS REVEALED!

Amidst today’s subprime and prime lender mortgage meltdown, short sales have hit the mainstream. Everybody now knows that short sales are the ONLY way to go in today’s market. Interestingly and oddly enough, there are VERY FEW real educated short sale experts. Meaning it’s highly likely there is no competition in your area. A short sale professional is someone who uses this concept in real estate as their primary source of income. They don’t complain about how tough short sales are, because they understand the parameters, which quickly weds out the time wasters in their deal pipeline. Most investors don’t. So they continually bumble about, befuddled and bewildered, thinking short sales are just too time consuming. That’s an easy and uncomplicated way to quit.

It’s my humble opinion that if you fail to truly learn and utilize short sale investment strategies in your real estate career, you will easily never realize 80% of your income potential. Ask me how I know this… I could name a hundred students in every state who focus exclusively on short sales and preforeclosures as their sole means of income. What’s the difference between them and you?

THEY HAVE GAINED OUR KNOWLEDGE, AND NOW IT’S YOUR TURN.

What are you waiting for? I know, you need to make sure this is real. It IS real to those who don’t make excuses. I’ve seen some remarkable lifestyle transformations in so many students – transformations in mindset, spiritual and of course financial states. We celebrated many of these success stories a couple of years ago, when I personally flew Donald Trump as our Keynote Speaker, and gave away my $70,000 Hummer to my highest achieving student of the year. So what does this mean to you? Bottom line – I want you to prosper and continually benefit from the information we provide. And you should stay plugged in to get continual feedback and support through our online membership community. This time tested information will take you to whatever level you want to go, at whatever pace you want.

WHAT’S NEXT FOR YOU?

Many serious investors (and those seriously disgusted with their J.O.B.) jump in and truly commit, by signing up for our five day intensive “Short Sales Exposed” training. If that’s your choice, then CONGRATULATIONS! Others will start slowly, by checking our some of our free stuff. My advice is to get started on something, create momentum and make a decision. Get your confidence from those who have already made the journey. Read their letters and listen to their amazing backgrounds – all varied walks of life.

At a minimum, it’s recommended you join our monthly membership, which is packed with an onslaught of seriously fabulous online training info, live calls with my negotiators working deals. It's Loaded with Seminar excerpts, how-to videos and teleseminars or if you have an immediate question on a deal you have, jump on board to our Ask The Mitigator Page.

DO NOT LEAVE THIS SITE EMPTY HANDED!

Click to get a Free Hand copy newsletter packed full of killer articles, case studies, and success stories.

I extend a personal invitation to one of our national foreclosure workshops. Remember, those who don’t understand how to invest in using short sales in today’s market are getting left behind. Get yourself into explosive action in 2008, and we’ll see you at the top! To your quantum leap!

Pearls in Real Estate
0

Investors in foreclosures hold opposing views on what they deem an acceptable rate of return for the inherent risks. So if you think you can sell a property for $200,000, you'd better make sure that your bid, plus repairs and carrying costs, doesn't exceed $140,000. When a creditor files suit to reclaim a property, this becomes part of the public record. You can discover postings of pending foreclosure suits (or notices of delinquency in some states) at the local courthouse. Ward Hanigan of San Diego, who moderates a foreclosure discussion group at foreclosureforum.com, advises that you check a local legal newspaper, preferably a daily.

 The listings give the location of the property, along with the names of the defaulting party and the lender. Thomas and Tammy Plaster, foreclosure investors who own a construction business in Conroe, Tex., say it's best if you track foreclosures in an area that you know well, such as the area where you live. You'll want to visit the property to better assess its worth. ``It's a good idea to estimate worst-case scenarios of what's inside,'' such as crumbling walls and leaky plumbing, says Robert Bruss, a syndicated real estate columnist who has profited from buying and selling seized properties.

 To further vet the property, you'll have to perform or commission a title search that will show whether other mortgages or liens are due. Senior mortgages or deeds--loans taken out prior to the one in default--are your responsibility if you buy the property. Second mortgages which are Junior loans are wiped out upon foreclosure of any previously established loan. Overdue taxes always carry over.

 If you are planning not to stop the foreclosure and you should prepare on selling the property for quick profit, you'll need to calculate the carrying costs and sale expenses as well as actual property value and repair costs. You must pay title and transfer fees, and don't forget about interim property insurance. The Plasters add 5% to 10% for unexpected costs. Depending on state laws, borrowers have anywhere from 21 days to 12 months following the lender's initial legal action or notice of default to pay up and avoid losing the property in a foreclosure. Hanigan of Foreclosureforum.com prefers to bid at foreclosure  sales because he gets the property free and clear. The lender's attorney or trustee starts the bidding with the amount owed on the property, plus the legal and administrative costs associated with foreclosure. That's the only bid the lender will enter, because it isn't allowed to profit from a foreclosure sale. Top the asking price by as little as a penny, and the property is yours. If there's a bidding war, the defaulting borrower gets the amount above the lender's bid.

 As with any property, lenders will finance your purchase of a foreclosure if you can show it's a good deal, you have good credit, and can demonstrate your ability to repay the loan. If no one bids over the asking price, the property goes to the lender. Lenders also often offer favorable financing and may waive some closing costs. Most banks list foreclosures with real estate agents who post them on the Multiple Listing Service (MLS), a directory available to realtors. Fannie Mae and Freddie Mac use realtors, too, but also list properties on their Web sites.

 If the loan on a home was guaranteed by the Federal Housing Administration (FHA) or Veteran's Administration (VA), those agencies acquire and market the property after foreclosure. They usually sell it through a real estate agent ``as is,'' without warranty, whereas banks and secondary lenders usually fix up the place so they can ask a higher price.

 Neil

 

Category: , , , , ,
��

Comments

0 responses to "Pearls in Real Estate"

Post a Comment