Negotiating Short Sales is a great way to supplement your income, or even replace your full-time job with a more lucrative and less time-consuming alternative. But the unlimited potential income is just one of many reasons that you're going to love doing short sales. Here are some other reasons that you may not yet have considered:
- The "Win-Win-Win" Situation. When you work with a bank to find an acceptable compromise on a price for a preforeclosure property, you not only are obtaining a great investment for yourself, you're also helping a distressed homeowner move on with their life without the burden of a foreclosure on their credit and their mind and helping a bank recoup money that they otherwise might have never even recovered. Of course, the investment property for you is the driving motivation here, but the other aspects aren't so bad either. The other two parties may not thank you every time (if ever), but you are helping them both make the best of a bad situation, and you should feel better about that the more deals you do.
- You're Solving Other People's Problems. And what's more, you're doing it quickly, efficiently and effectively! Obviously, if a person has just agreed to a short sale, their mortgage is not their only problem, but once that particular problem is resolved, their stress-load is ten's of thousands of dollars lighter. And that relief can spur them into the next stage of their life. All without the taint of a foreclosure on their credit.
- Reliable, Predictable and Repetitious Results. Once you've mastered the art of short sale dealing, you have a permanent source of income in your repertoire. Short sale deals require you to take a certain number of specific steps, factor in certain and specific aspects of a property, then produce and acceptable offer and walk away with your new investment. Not all your offers will be accepted, and you'll probably turn down some tempting deals because they're just too risky, but once you know how to spot a good deal and negotiate successfully for it, your potential is limitless! Because there will always be foreclosures (it's likely that the number will only increase as more and more people take out variable interest loans with rates they won't always be able to afford) and lenders will always want to recover cold, hard cash.
- Feeling Good. The other thing that's going to make you feel good is your personal satisfaction in a job completed well. When you close your first deal, you're going to feel like you won a marathon, and when you close your twentieth, you're going to feel even better! Investing in short sales may be a totally new area of endeavor for you, or it may just be a new niche of your real estate investing portfolio, but either way, mastering a new skill and making lots of money at it is incredibly rewarding. And the looks of admiration and even envy on your friends and family's faces when you break the news that you just doubled your annual income with one or two short sales will be priceless.
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?
With more than 1.2 million foreclosure, preforeclosure, bankruptcy, FSBO and tax lien listings, it's important for training in the analysis and search of large and complex databases of foreclosed homes and investment property information. Being able to identify opportunities while researching top lending institutions and government agencies Real Estate Owned; Department of Housing and Urban Development, Department of Veterans Affairs, Fannie Mae, and other government agency and financial institution properties is essential.
Buying during the foreclosure period is one of the best ways for anyone to get involved in real estate investing. With a small investment and some specialized knowledge an investor can buy a house at a substantial discount and resell it retail gain up to 15% - 20% profit in the process.
- The "Win-Win-Win" Situation. When you work with a bank to find an acceptable compromise on a price for a preforeclosure property, you not only are obtaining a great investment for yourself, you're also helping a distressed homeowner move on with their life without the burden of a foreclosure on their credit and their mind and helping a bank recoup money that they otherwise might have never even recovered. Of course, the investment property for you is the driving motivation here, but the other aspects aren't so bad either. The other two parties may not thank you every time (if ever), but you are helping them both make the best of a bad situation, and you should feel better about that the more deals you do.
- You're Solving Other People's Problems. And what's more, you're doing it quickly, efficiently and effectively! Obviously, if a person has just agreed to a short sale, their mortgage is not their only problem, but once that particular problem is resolved, their stress-load is ten's of thousands of dollars lighter. And that relief can spur them into the next stage of their life. All without the taint of a foreclosure on their credit.
- Reliable, Predictable and Repetitious Results. Once you've mastered the art of short sale dealing, you have a permanent source of income in your repertoire. Short sale deals require you to take a certain number of specific steps, factor in certain and specific aspects of a property, then produce and acceptable offer and walk away with your new investment. Not all your offers will be accepted, and you'll probably turn down some tempting deals because they're just too risky, but once you know how to spot a good deal and negotiate successfully for it, your potential is limitless! Because there will always be foreclosures (it's likely that the number will only increase as more and more people take out variable interest loans with rates they won't always be able to afford) and lenders will always want to recover cold, hard cash.
- Feeling Good. The other thing that's going to make you feel good is your personal satisfaction in a job completed well. When you close your first deal, you're going to feel like you won a marathon, and when you close your twentieth, you're going to feel even better! Investing in short sales may be a totally new area of endeavor for you, or it may just be a new niche of your real estate investing portfolio, but either way, mastering a new skill and making lots of money at it is incredibly rewarding. And the looks of admiration and even envy on your friends and family's faces when you break the news that you just doubled your annual income with one or two short sales will be priceless.
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?
With more than 1.2 million foreclosure, preforeclosure, bankruptcy, FSBO and tax lien listings, it's important for training in the analysis and search of large and complex databases of foreclosed homes and investment property information. Being able to identify opportunities while researching top lending institutions and government agencies Real Estate Owned; Department of Housing and Urban Development, Department of Veterans Affairs, Fannie Mae, and other government agency and financial institution properties is essential.
Buying during the foreclosure period is one of the best ways for anyone to get involved in real estate investing. With a small investment and some specialized knowledge an investor can buy a house at a substantial discount and resell it retail gain up to 15% - 20% profit in the process.
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P.S. If you haven't signed up for my Free Short Sale Course yet, then you are really missing out, go here: http://www.freeshortsalecourse.com/
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