If We Could Award a Grammy for HUGE Profits in Short Sales…

Tuesday, February 2nd, 2010 | Uncategorized

Hi everyone! Josh here, taking a breather after a very inspirational World Short Sale Main Event in Scottsdale to share another success story. A few weeks ago I told you about the tremendous profits that one of our investors realized, thanks to the guidance of his SREC coach. Today I want to share another accomplishment – one that’s deserving of an award – this time from one of our investors in Birmingham, Michigan (putting aside the Ohio State-Michigan rivalry for a moment!).

Kathy Persha has been a full time real estate investor for over five years, but a few years ago, she found that her techniques were not working because everyone was upside down on their house. So she turned to short sales. At the same time, she pursued her realtor’s license. While this may not seem like a detriment, it actually caused her to lose focus on her investing. She would try to list a property, negotiate the short sale and try to collect a negotiating fee in addition to her commission. The result was often little or no negotiating fee and reduced commissions. She knew she had to get back to her investor roots, and joined SREC.

Thanks to SREC, Kathy refocused on her real estate investing and began using the option contract to her advantage. This particular deal involved a property in Alger, Madison Heights, MI, with $108,200 left on the mortgage. The seller was in a new marriage, and both he and his wife had houses. They decided to rent this property, but the tenants didn’t pay and did some damage to the house, on top of it all. Kathy was negotiating for another agent. She submitted four offers to the lender, and they all fell apart. After the forth failed offer, the file was going to be closed. So she submitted her option contract, and got the offer accepted. The negotiated balance ended up at $20,529, and the property was sold for $49,100. The resulting $21,640 profit was just what Kathy needed to reinvigorate her real estate investing bug. Now, she’s making the offers and using the option contract on all of her deals.

Kathy is now approaching 15 short sales, and is building her business each day. Gross spreads on her deals have been $20,000 – $60,000 each. What tremendous results! She is doing negotiations for five other agents, on top of her own. Her goal is to have 100 deals in the pipeline, and with the right tools and coaching, she’s well on her way. Kathy explained, “[The coaching] gave me the confidence to return to my investor roots. Without SREC, I would not have accomplished as much as I have done in the last six months. SREC offered me more bang for my buck than other programs.”

Will you be our next short sale success story? Tap into our team of experts and sign up today for a Silver membership in our Coaching program, just click here !

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