How to make $1,000 on dead short sale deals
July 17th, 2008Hi everyone!
Do you or someone you know do short sales?
What is a short sale, you might wonder?
A short sale is when a lender accepts less than what is owed against a property.
Short sale has been the buzz word in today’s foreclosure boom because many homeowners over-leveraged their properties in the last few years when it was easy to get 100% financing, refinance, and easy to get home equity line of credit.
And if you do short sales, you’d know that many short sales don’t get accepted low enough for you to be able to wholesale them.
If you haven’t been doing short sales, now you know
In the P.S., I’ll show you how you can make money even if you’re not doing short sales
The 3 best ways to make money on short sales, in today’s market, are:
1. Sell them to owner occupant buyers
2. Do luxury home short sales
And
3. Do a “deed in lieu” of foreclosure, also know as “Cash for Keys”, on short sales that the lenders won’t accept the offer.
Deed in lieu (DIL) is when the homeowner deeds the property over to the lender to avoid foreclosure. And many times, the lender will pay you $1,000 - $2,000 in exchange for the “deed and the keys,” hence the name “Cash for Keys”
This is a system that I’ve recently learned about from my good friend Pat Martin.
What Pat does whenever the lender doesn’t accept his short sale offer, is to do a “deed in lieu” of foreclosure and make his quick $1,000 - $2,000.
What he teaches you to do is to call the loss mitigation department, or sometimes the “deed in lieu” or “cash for keys” department, and let them know that you have the deed and you want to do a “deed in lieu.”
That’s a pretty quick and easy way to make money on dead short sale deals, huh?
You can learn more about this powerful strategy in the video below
Go here >> http://dodeals.com/
Enjoy!
Tim Mai
P.S. If you’re not doing short sales, you can find real estate investors and agents who are doing short sales and offer them money for dead short sale deals, maybe offer them $50 to $100 and you keep the rest
Watch this video to learn more http://dodeals.com/