Teaming with SREC Leads to HUGE Short Sale Profits!

Wednesday, January 13th, 2010 | Uncategorized

Hey everyone, Josh here. I want to send BIG CONGRATULATIONS to our December Short Sale Investment survey winner, Zach Kennedy, from Richmond, VA. As our winner, Zach received a $250 Best Buy gift certificate, in time to get ready for the Superbowl!

For Zach’s first short sale, the sellers were shorting on two different homes that were bought at 100% financing, and were about to be foreclosed on. One of the homes was a rental property that was trashed by the tenants. On top of that, the husband was serving in Iraq and the wife was about to have a baby. The original balance on the property was $225,000. Zach used his negotiator to work with the bank, freeing him up to find more deals. The negotiated balance was $51,980. On top of that, he was able to influence the BPO tremendously and maximize HUD fees because of the techniques he learned from his SREC coach, John Grant. Together they marketed the property to the end buyer, after two other buyers lost their financing. Zach just didn’t give up!

Final sale price on the property? $95,000, and a profit of $27,000 for Zach! What a tremendous result for his first short sale using the techniques he learned from SREC and the awesome guidance of John. These two real estate investors will be unstoppable!

Before joining the SREC team, Zach admits he was “just ‘trying’ to find deals and ‘trying’ to close them.” He now has a daily plan and a business model that drives his activities. He adds, “[John] is by far the best time and money investment!” By being more efficient and using his resources, Zach is consistently making more money.

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