how to do a short sale
Bank Insider Reveals Shocking Short Sale Trends
Thursday, August 26th, 2010 | Bank owned, Foreclosures, Real Estate Investing, Real estate short sales, Short Sales | No Comments
Jerami King is a former team leader for the loss migitation department of a MAJOR bank. Today he helps real estate investors and homeowners successfully navigate the pre-foreclosure process. Few people know more about the ‘ins-and-outs’ of working with leaders on short sale approvals.
Tonight, Jerami will share some unnerving trends and changes in lender protocols he’s discovered as a result of handling over 600 cases (both active and completed) in the last two years.
If you’re currently working with, or come across a deal from Bank Of America, Aurora, PNC, Chance, CitiBank, IndyMac/OneWest, AHSMI or any of the other major banks and lenders, you won’t want to miss this call.
Jerami will be sharing which lenders play well with investors, which don’t and how to get around the red tape to get approvals quickly.
Click here to register for tonight’s call at 8:30 pm Eastern.
On our webinar tonight, you’ll get detailed information on exactly what banks are looking for, what you can and can’t get accepted, what you can get in closing costs and concessions, BPO percentages… and other info you’ll only discover working with these lenders directly.
As you would imagine, the average investor won’t have privilege to the information and statistics Jerami has access.
Tonight you’ll hear an analysis of hard data from over 600 case files, put into plain English so you can shortcut the frustration and costly “trial by fire” of working with “unfriendly lenders” yourself.
The call is tonight at 8:30 pm Eastern. It’s all content, and I highly recommend you set time aside to join us. You won’t find this information anywhere else, and it will make a huge difference in your business, regardless if you’re a new investor, or seasoned pro.
Click here to register for tonight’s call at 8:30 pm Eastern.
Check Out This Contest Video Submission!
Thursday, June 17th, 2010 | Foreclosures, Pre-foreclosure, Real estate short sales, Short Sales | No Comments
This great video is Mike “Stubby” Kleinstub’s submission to Strategic Real Estate Coach’s Building Lifestyle and Design contest. Mike did a great job of describing his life before and after SREC and where he plans on taking his business in the future. If he wins the contest he will win his very one 2011 Harley Davidson.
The BLD contest is all about building a business that give you the lifestyle that you desire. The Short Sale Business is booming as the economy gets weaker. In fact this fall with all of the Option ARM, ALT-A, and Commercial resets coming due, we feel that we are in the eye of the hurricane right now. We haven’t even begun to clean up the Sub-Prime mess.
The best thing about the Short Sale Business for investors is that it is just difficult enough to keep the average investor out of it. This means a growing market of foreclosed properties + few investors to take advantage of the market = HUGE MONEY!
Enjoy the video and a quick reminder that all videos must be in by no later than July 1st!
-Chris Duane Director of Operations SREC
2nd Mortgages: Pesky or Painless
Monday, September 22nd, 2008 | Real Estate Investing, Short Sales | 2 Comments
By: Josh Cantwell
Why is it that negotiating with mortgage companies can cause us to want to pull our hair out, yet when we find a deal that has 2 mortgages, we are ecstatic?
Weird, right?
On the surface, it seems insane that we would be excited to have to negotiate with 2 mortgage companies on 1 deal. But the beauty of a second mortgage is that you can create equity that didn’t exist before to turn an “ok” deal into a “great” deal.
So I just wrote a new article on how to successfully negotiate with a second mortgage while also dealing with the first.
Click Here For My 2nd Mortgage Article
I also give step by step instructions on what to offer, where to place certain closing costs on the HUD, and how to negotiate with 2 mortgages at the same time, creating huge discounts.
Click Here For My 2nd Mortgage Article
To tell you the truth, I love deals that have 2 or 3 mortgages! In my article I’ll explain why, and I bet you’ll grow to love them too.
Short Sale Manifesto 2.0 is here…
Monday, August 25th, 2008 | Short Sales | 2 Comments
I’ve been working my tail off to get the Short Sale Manifesto 2.0 in your hands this week as promised.
Well, it’s done and I’m super excited about it!
Get it here now…
I didn’t hold anything back.
What’s in it…
You’re going to learn the right AND wrong ways to do a short sale and the Top 10 Mistakes that investors are making RIGHT NOW.
It digs deep into the techniques that myself and my students all across the country are using for referral based marketing.
It will arm you with vital insights and updated strategies for doing successful BPO’s.
AND it’ll teach you how to use the same option contract that top short sale investors across the country are using as we speak!
I’ve meticulously prepared the Short Sale Manifesto 2.0 so that you have full access to some of the most cutting edge information available in the short sale industry today.
I’m giving you my guerilla tactics and my personal formula for wealth.
So whether you’re already doing short sales or want to start, check out the Short Sale Manifesto 2.0 for some in depth information that’ll take the guesswork out of short sales.
TAMPA, CLEVELAND, 125 Guru’s, 70 coaching students and 25 roller coasters
Monday, August 11th, 2008 | Real Estate Investing, Short Sales | 1 Comment
By: Josh Cantwell
Yep you read that right, and my back is killing me! You see, I have been on my feet for the past week and a half straight and my dogs (feet) are barking (hurting bad) plus I just dropped 4 Advils to cure my ailing lower back. It’s bad. Seriously bad. Oh well. Small price to pay because these past 10 days, I have been seriously taking care of business.
A week and a half ago I spent Wednesday and Thursday networking and making new relationships at The Winners Circle Summit in Tampa, Florida. My good friend Roger Salam has put together one of the greatest networking groups on the PLANET. Far and away the BEST in THIS country.
I was hanging out with dudes like Gary Boomershine from Sales Team Live, Tim Mai, Colin Egbert from Realestateinvestor.com, Richard Roop, Preston Ely from Probates by Preston, Dustin Matthews, Kathy Kennibrook, Paul Bauer, AJ Peudan, Jason Rodriquez, Bill Duquette, Jon Goldman from Lumpy Mail, and STEVEN frickin PIERCE – internet marketer extraordinaire – as well as a 115 other great real estate trainers and marketers.
We got together for one reason – to raise the bar for the benefit of our students and customers. I know I accomplished my goal. I got some crazy good ideas to bring back to my students…..and that’s exactly what I did.
So I jumped on a plane and flew home to Cleveland to my beautiful wife and new baby girl.
Here’s the thing. I had to get right back up the next day and teach our highest level coaching students for 4 days. The first two days were with our Diamond and Platinum groups and then we did 2 days with our Master’s Elite group.
Seriously, this Masters Elite group is crazy good. These guys are closing between 3-6 short sales a month, many averaging $20k per deal. Some have made $100k per month, each month so far this year. This is what it’s all about.
One of my students closed a short sale quick turn and made $130k this past Friday. Then just Monday another student closed a short sale and made $80k while she was in Cleveland!
Once the event was over we closed the office and took our staff and some of our students who stayed over to CEDAR POINT. What a blast!
So here’s my question. Do you have a recent case study or deal closed to tell us about? If you do, post it on the BLOG for all to see so we can congratulate you.
Check out these pictures.
How To Do A Short Sale…for Real Estate Agents and Homeowners
Monday, August 4th, 2008 | Real Estate Investing, Short Sales | 1 Comment
By: Josh Cantwell
I am contacted every week by several real estate agents who have pre-foreclosure properties listed that they know aren’t going to sell. Most are overleveraged and undoubtedly won’t sell for what is owed on the mortgage.
So the big question is, what can they do to help the homeowner?
Click here to read my new article: How to do a Short Sale…for Real Estate Agents and Homeowners
Even though short sales are becoming more and more common, there are still a lot of homeowners and real estate agents who don’t know what a short sale is, or how to do one.
I think it’s so important for both to know exactly what the short sale process is, that I wrote a new article on the subject.
You’ve got to check it out because I not only explain what a short sale is, but I also give you step by step instructions on how to complete one.
Click here for the step-by-step instructions on how to do a Short Sale
So be sure to check it out and pass it on if you know someone who’s in this situation. They’ll appreciate it, I promise.
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