Short sale process in LA

[Parris Edwards]

Hey BP so I have a list of short sale properties But I don’t know what to do as far as approaching the owners any tips on what I should say Fairly new to this strategy.

[Brett Goldsmith]

What are your goals with the properties? The best way to approach distressed homeowners are to find out their goals and educate them on their options with their distressed asset or situation if they are behind on their mortgage. 

[Joe Homs]

@Parris Edwards  If you are NOT a real estate agent then the only thing you can do with your short sale list is find out if there is any equity in the property and make an offer to purchase/wholesale the home.  Only licensed Real Estate Agents are allowed to negotiate a short sale with the bank.

I usually "door knock" these leads when there is equity and my speech at the door is "Hi my name is Joe and I am a Real Estate Investor.  I would love to buy your home for CASH!  Do you have a few minutes to speak with me?"

Good Investing...

[Phil Z.]

Originally posted by @Joe Homs:

@Parris Edwards  If you are NOT a real estate agent then the only thing you can do with your short sale list is find out if there is any equity in the property and make an offer to purchase/wholesale the home.  Only licensed Real Estate Agents are allowed to negotiate a short sale with the bank.

I usually "door knock" these leads when there is equity and my speech at the door is "Hi my name is Joe and I am a Real Estate Investor.  I would love to buy your home for CASH!  Do you have a few minutes to speak with me?"

Good Investing...

 Thats not accurate.  Anyone can negotiate a short sale.  The real question is how you will expect to get paid..

[Wayne Brooks]

Originally posted by @Joe Homs:

@Parris Edwards  If you are NOT a real estate agent then the only thing you can do with your short sale list is find out if there is any equity in the property and make an offer to purchase/wholesale the home.  Only licensed Real Estate Agents are allowed to negotiate a short sale with the bank.

I usually "door knock" these leads when there is equity and my speech at the door is "Hi my name is Joe and I am a Real Estate Investor.  I would love to buy your home for CASH!  Do you have a few minutes to speak with me?"

Good Investing...

By definition, there is no equity in a short sale.....