Short Sale Real Estate Investing
Short
sale real estate investing is defined as purchasing a property from a
lender for less than the balance owed on the mortgage. Many books and
courses have been written about it, but can short sale real estate
investing be simplified? It can!
There really are only two types of short sale real estate investing.
First, when you purchase a property that a lender has foreclosed on and
listed with a Realtor, you can offer less than the balance that was due
on the foreclosure. This type of short sale real estate investing
requires that you have a good relationship with the right Realtor.
Look for the Realty office in your town that handles the majority of
foreclosures, and look for the agent in that office who works with
investors and short sale real estate investing. When you find that
agent, you'll want to impress upon them that you intend to follow
through on all your offers. Then, do exactly what you say you will.
That's your ticket to the short sale real estate investing gravy train!
The second type of short sale real estate investing involves you
negotiating directly with a motivated seller's lender. You'll need to
be determined in your negotiating, first of all to reach the right
person at the lender's REO (Real Estate Owned) department, and then to
get the price you want.
Stick with it, and take lots of notes. Once you've worked with a few
lenders that allow short sale real estate investing, you'll have the
tactics you need to enjoy on-going success.
Would you like more information? How about a more in-depth article? You can get both at Short Sale Real Estate Investing.
Now, go make more offers!
About the Author
Crush The Biggest Obstacle to Your Success in Real Estate... or Anything Else! Download my FREE report HERE! Tom
Dunn is a successful real estate investor and author of the popular
DealFiles Real Estate Investor Stories free newsletter. © 2007 by Tom
Dunn. Website: www.dealfiles.com e-mail: tom@dealfiles.com
|
