MSN money published a informative article about short sales. While it is a very basic outline, I include it here as a resource for the inquisitive who want to begin learning about the short sale process. It looks at a short sale from the perspective of the lender, buyer and owner. It describes the process as win, win, win, a description that not only Charlie Sheen could love. http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/UseAShortSaleToEscapeForeclosure.aspx
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Tuesday, March 22, 2011
Wednesday, March 16, 2011
SHORT SALES ARE AN ART FORM
When you surf the net today you run into all sorts of short sale Svengalis. They ply their trade with video tapes, webinars, auto e-mailers. Where did they all come from? After all when the real estate market was rising there were no short sales. So essentially, it is a two to four year old market place. In many instances these experts are Realtors, mortgage brokers and unemployed white collar workers from various industries. The one thing they have in common is they are self proclaimed experts.
A short sale specialist should have banking loss mitigation experience, legal experience, and most importantly negotiating experience. Unfortunately, this is for the most part in short supply. It is not simply a matter of submitting your documents to the lender, after all you can do that yourself. It is about understanding the
metrics of loss mitigation, and having the tools to analyse the transaction, and present it to the lender in a coherent and professional manner. Your short sale specialist should have access to the latest real estate valuation and management software. The should be versed in the net REO value that the bank is projecting on the property.
Do not just choose by who has the sexiest web site, or the catchiest name, choose an experienced negotiator with the necessary tools and training to get your short sales approved in the most timely and economical manner.
A short sale specialist should have banking loss mitigation experience, legal experience, and most importantly negotiating experience. Unfortunately, this is for the most part in short supply. It is not simply a matter of submitting your documents to the lender, after all you can do that yourself. It is about understanding the
metrics of loss mitigation, and having the tools to analyse the transaction, and present it to the lender in a coherent and professional manner. Your short sale specialist should have access to the latest real estate valuation and management software. The should be versed in the net REO value that the bank is projecting on the property.
Do not just choose by who has the sexiest web site, or the catchiest name, choose an experienced negotiator with the necessary tools and training to get your short sales approved in the most timely and economical manner.
Saturday, March 12, 2011
TSUNAMI MORTGAGE MELTDOWN
The Japanese earthquake and tsunami are certain to have a lasting impact on the Japanese real estate market. But the reality is that the United States is facing a tsunami of its own, in the form of the commercial and residential mortgage meltdown which is gathering steam everyday. This meltdown has created one of the greatest opportunities in real estate investing in the last hundred years.
In all of the Untied States, and much of Europe, opportunities exist to purchase distressed real estate at a fraction of their ultimate value. A savvy investor can orchestrate profits by seeking out valuable properties that are distressed, and then re marketing them for a significant profit. I am sure we are all weary of the late night TV gurus trumpeting how to get rich in real estate with no money down. But this is truly a moment in time, and an opportunity to do just that.
Anytime money is flowing, opportunities abound. At the moment the greatest transfer of real estate equity in history is occurring. Homeowners have seen their equity virtually wiped out. Where did it go, and when will it return? An experienced real estate investor can purchase these homes from the owner, with the their lenders approval for a fraction of their current worth, and resell them at a tidy profit. If you want to learn how you can find these properties and make a profit. Call me at 267-205-6101.
In all of the Untied States, and much of Europe, opportunities exist to purchase distressed real estate at a fraction of their ultimate value. A savvy investor can orchestrate profits by seeking out valuable properties that are distressed, and then re marketing them for a significant profit. I am sure we are all weary of the late night TV gurus trumpeting how to get rich in real estate with no money down. But this is truly a moment in time, and an opportunity to do just that.
Anytime money is flowing, opportunities abound. At the moment the greatest transfer of real estate equity in history is occurring. Homeowners have seen their equity virtually wiped out. Where did it go, and when will it return? An experienced real estate investor can purchase these homes from the owner, with the their lenders approval for a fraction of their current worth, and resell them at a tidy profit. If you want to learn how you can find these properties and make a profit. Call me at 267-205-6101.
Wednesday, March 9, 2011
FIND SHORT SALES - MAKE MONEY
On March 3, 2011 I posted some examples of short sales that we negotiated for our investors. But do not let the terms investor fool you. Our investors invest their time and energy, not necessarily money in their deals. Are you good at following simple directions. Can you help homeowners fill out forms? Does making 40 percent of a short swing profit from a short sale interest you?
Our business model lets allows our partners to find potential short sale properties. Properties that are in pre-foreclosure or foreclosure status, and then watch us do the work You can get involved as little or as much as you want. It is a epic opportunity for a energetic, independent, profit minded individual. We will even help you with your marketing strategy and plan. Give me a call and start filling your pipeline today, 267-205-6101
Our business model lets allows our partners to find potential short sale properties. Properties that are in pre-foreclosure or foreclosure status, and then watch us do the work You can get involved as little or as much as you want. It is a epic opportunity for a energetic, independent, profit minded individual. We will even help you with your marketing strategy and plan. Give me a call and start filling your pipeline today, 267-205-6101
Thursday, March 3, 2011
INVESTOR PARADISE/ JOIN OUR TEAM
The current major problem in the real estate market is the large percentage of houses that are worth less than their sum of their mortgages. This creates marketplace gridlock and makes it difficult to sell the properties. The difficulty arises because of the unknown short payoff amount the lender will accept. This deters Realtors from listing the properties, and buyers from making offers on them. The solution is the growing number of Investors who are driving the real estate market by utilizing transactional funding to obtain short sale approvals, and then marketing, wholesaling or selling the property at a premium to a third party.
Lets examine two deals that we obtained approvals for this week:
The first home is located in the South and has a market value of $125,000.00 the mortgage balance was $135,000.00 The home was in need of some repairs. In two weeks we obtained an approval for our customer to buy the home for $25,000.00 the mortgage payoff is $16,500.00. The customer will make standard improvements and have the ability to retail the property at $100,000.00 with a gross profit of around $50,000.00 the investor can also just sell the property with the estimate as is and make a spread of around $25,000.00. That is a great example of how private enterprise can solve the current residential real estate grid lock.
The second example is a home in the Northeast. The home is worth approximately $275,000.00 it needs little improvement. The mortgage payoff is $350,000.00. We negotiated a purchase at $199,000.00 with a payoff of $167,000.00. The investor will realize a short swing profit of approximately $35,000.00.
These transactions and profits were made with no money down! Their has never been a better time to be in real estate investing. Money is flowing and you must get to the spot you can take advantage of it. Join our team and we will help you make spectacular profits. Call: 267-205-6101 or log on at www.shortsalesclose.com and leave an e-mail.
Lets examine two deals that we obtained approvals for this week:
The first home is located in the South and has a market value of $125,000.00 the mortgage balance was $135,000.00 The home was in need of some repairs. In two weeks we obtained an approval for our customer to buy the home for $25,000.00 the mortgage payoff is $16,500.00. The customer will make standard improvements and have the ability to retail the property at $100,000.00 with a gross profit of around $50,000.00 the investor can also just sell the property with the estimate as is and make a spread of around $25,000.00. That is a great example of how private enterprise can solve the current residential real estate grid lock.
The second example is a home in the Northeast. The home is worth approximately $275,000.00 it needs little improvement. The mortgage payoff is $350,000.00. We negotiated a purchase at $199,000.00 with a payoff of $167,000.00. The investor will realize a short swing profit of approximately $35,000.00.
These transactions and profits were made with no money down! Their has never been a better time to be in real estate investing. Money is flowing and you must get to the spot you can take advantage of it. Join our team and we will help you make spectacular profits. Call: 267-205-6101 or log on at www.shortsalesclose.com and leave an e-mail.
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