Miss any of these 5 steps and you'll go broke investing with short sales...

 "I have broken down the steps to completing just one short sale deal to 5 major steps. And believe me that was hard because there are about a gazillion steps to each of these 5 steps."

Step 1

You must find people who have the type of property you want to invest in, who are in foreclosure.

This means you need to learn marketing from door to door, cold calling homeowners in distress, direct mail, pay per click, flyers, networking and the list goes on. You must get good at marketing and this takes time, money, and expertise.

Picture Sherlock Holmes with his magnifying glass tiring to fine the right criminal. Searching like a needle in a haystack for the right person with the right property.

This is the first step in investing in short sales. If you fail here everything else is secondary. Meaning no money for you.

Step 2

They must respond to you and not a competitor.

 

You must be the one! The one they trust out and above all the other short sale investors who went to a seminar and bought a foreclosure course.

You must cut through the clutter and get the right message to make this work. If they don't respond you've got nothing. Get tripped up here and no money in your checking account.

Step 3

They must be down with working with you.

 

The ball is in their court. They must work with you for the long run and not bail on you. One of 100 things can go wrong here.

All you have is the limited ability to work on as many deals as humanly possible to increase your odds of finding "The One" If "The One" flakes here all your time, money, and effort is wasted. Strike three, you must start over from step one.

They may finely get a job, they may re negotiate the loan, a competitor may come along that they like better than you. Nothing is guaranteed even if the home owner has agreed to work with you.

Step 4

The bank, lender, creditors, and other lien holders must work with you.

You must get this cooperation for the duration of the short sale process.

These 2nd lien holders know are getting shafted! These people are less than thrilled. They will be losing money on their own bad deals with the home owner.

So many deals get killed at this step. Much pain and no gain if you get knocked down on step 4.

Step 5

Congratulations if you are persistent and good enough to reach the step. But you're not out of the woods yet because the distressed homeowners are emotional frozen.

Like a deer in the headlights and a cornered animal they are Unpredictable.

Plus, they may file bankruptcy which can add 6 months to 1 year to the foreclosure process. Or the distraught homeowner do a deed in lieu of foreclosure and just turn the keys in and split.

"Regardless, you must successfully complete each if these 5 major steps to close one short sale deal. That's just one deal."

Even if you get real good at short sales think of all the road blocks, obstacles, pitfalls and problems you have to overcome for one darn deal?

That's why I only deal with bank REO properties.

Create Wealth Buy Low Sell High.

Mark

PS.You can check out my blogs here and get a 39 page insider report on bulk reo investing  http://www.ultimatebulkreosecrets.com/

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