Archive for the 'Short Sales' Category

As a real estate investor, one of the things that you will want to be sure that you are doing is following the market news. The more that there is talk of home owners arranging for short sales with the banks, the better the position you will be in to profit.

When banks agree to short sales with those who are about to go into foreclosure, effectively they agree to accept whatever the seller can receive for the home. Simply put, for investors, short sales offer you the chance to make your best offer on a property and, if it’s the best that the seller can get, you win.

If you are looking to see whether or not you can benefit from short sales, you will need to be sure that you are on top of the market in your area. You’ll want to keep an eye out so that the moment a short sale property comes on the market, you can jump.

It’s quick action that makes the difference for investors. Knowing the right time to pounce on a great deal is as essential as being able to quickly secure the financing that you need to close the sale. Of course, it also means paying attention to the right time to turn the property around - but that’s a story for another day.

The ‘buzz’ of investing in real estate always has some key ‘hot topics’ associated with the conversation:  ‘long term wealth’, ‘great cashflow’, ‘financial freedom’, and ‘cash in on the foreclosures of the mortgage meltdown’ just to name a few.

Then there is the reality about it all - - (1) Absolutely you can gain and secure long term wealth, (2) depending on how you evaluate the deals before you do them – you will get great cashflow, and (3) financial freedom is the ultimate goal, however, if you do not treat, and respect, the real estate investing business, AS A BUSINESS, what you will have is a job-like experience with that ultimate goal not getting any closer to you.

I really encourage you to listen to this teleconference I did with Charles Petty (the Audio MP3 Play Now link is at the end of this post here).  It will truly open your eyes to new possibilities and to the ‘business’ of making $10,000 or more in the next 30 days – and doing it consistently – and having time for your family, hobbies, AND vacations.

By the way, at the end of the teleconference, Charles mentions a money-making opportunity that you can still take advantage of here on InvestorWealth.com because you listened to it here. 

You can Find out more information about this program,
Or
You can GO NOW to the ORDER-IT-NOW Page.

Best regards, - Michelle  - -

 
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The Heart of Real Estate Investing.  I have written about here in my blog, and in our newsletters.  It was the hardest thing for me to understand when we began real estate investing.  And, because it is the most important part of any business, it caused me a great deal of stress and aggravation for a while.  And we needed it to work – just for the business to survive.

And it was Marketing.  Marketing from the beginning has been a challenge – it was a very big challenge for me.  I didn’t come from a big copywriting, letter writing, knowing how to write in a direct mail letter. My whole background was business automation.  It was like a foreign concept to me.

I can’t tell you how many times I wondered if a mail piece was actually going to work.  And then, what it meant to TEST the piece.  

We were given letters from sellers that were coming in from other investors.  We also got ideas from other investors at the seminars we were going to.  Eventually, after months and months, we finally began to find the best marketing pieces for our business.

Then, you have to test the process.  For example, You know, in direct marketing, you have to send out 3 – 5 – 7 pieces of mail, whether its letters or postcards - or a finely tuned combination of both?  Anyway that was really hard for me.

I immediately went to the computer to use what software was available - Word, Excel, Access, Act, and other database software I knew.  Then it dawned on me, “Did I want to spend my time programming again, developing a real estate marketing software, or make money in real estate?”

You may find, after watching this webinar, that you will catapult yourself over the hard stuff and in to an automatic system that works like a finely tuned car. Learn now about an automated process that takes minutes of your day and turns those minutes into dollars.  Profit that, in some cases, can begin in 24 hours.

PLAY THE WEBINAR REPLAY HERE NOW
(Note: depending on the speed of your computer and your connection, the video could take a minute to begin.)

Best of Success,
Michelle
   

I remember when Richard & I began our real estate investing business – now seven years ago, one of the first seminars we attended was one exclusively on marketing. We learned twenty ways from Sunday how to do business cards, even more on bandit signs, thirty different newspaper ads, post cards, letters, flyers . . .. We were ready to go!

First of all we were both still at our full-time jobs so we opted for ‘newspaper ads’. Most of you know we live in Atlanta so our only logical option was the Atlanta Journal Constitution. MONEY WASTED! No responses that brought us anything that even resembled a motivated seller.

Next we decided to do the ‘work all week and then spend our weekends putting out signs’. The signs seemed reasonably priced, we felt good about the size, color, website, etc. AND we actually got phone calls from them. However, after the first 10 calls or so we then realized we needed to organize all our prospects. We then ‘thought the next important thing to do’ was to get a handle on which signs (street corners) produced the most calls so we could ‘target our marketing’.

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Honing the skill of a successful, short sales real estate investor begins with knowing your ‘market’ and knowing the best ‘marketing approach’, and planning your marketing campaign. That begins with knowing what the heck the game is in your state.

What If your list source is made available to you only 21 to 30 days BEFORE all the properties on the list go to sale – what’s your best marketing plan?

For Example:

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A Short Sale is when the ‘bank’ (lender) agrees to take less than the amount actually owed by the ‘mortgagee’ (the home owner, the debtor). 

Now there are some disctinctions here you should know - A ‘Short Sale’ is not the same as ‘Buying the Note’ at a discount.  When you are going after the Short Sale, your intention is to either (1) Get the property to hold and rent or lease option, or (2) Do what is called a ‘Quick Turn’ of the property (sell it to a new family OR another investor who will be; rehabbing to sell retail, or renting out).  In other words you will be expecting to realize your profit sooner rather than later.

Discounting the Note, makes you the new ‘bank’.  We can talk in depth about this in another entry here but suffice it to say for now “as the bank” you get the payments over time making ‘allota’ money on your money invested in the note AND/OR continue the foreclosure if that is why you found the note to begin with.  (I promise, more later on this . . .).

If you are interested in learning more about short sales and shifting your focus to this niche specifically, contact Peggy in my office about our mentoring programs.  Our office hours are 10a - 5p Eastern Time and our phone is 770-338-2797.