short sale real estate investing
Short sale real estate investing is defined as purchasing a property from a lender for less than the balance owed on the mortgage. Many books and courses have been written about it, but can short sale real estate investing be simplified? It can!
There really are only two types of short sale real estate investing. First, when you purchase a property that a lender has foreclosed on and listed with a Realtor, you can offer less than the balance that was due on the foreclosure. This type of short sale real estate investing requires that you have a good relationship with the right Realtor.
Look for the Realty office in your town that handles the majority of foreclosures, and look for the agent in that office who works with investors and short sale real estate investing. When you find that agent, youÂ’ll want to impress upon them that you intend to follow through on all your offers. Then, do exactly what you say you will. ThatÂ’s your ticket to the short sale real estate investing gravy train!
The second type of short sale real estate investing involves you negotiating directly with a motivated sellerÂ’s lender. YouÂ’ll need to be determined in your negotiating, first of all to reach the right person at the lenderÂ’s REO (Real Estate Owned) department, and then to get the price you want.
Stick with it, and take lots of notes. Once youÂ’ve worked with a few lenders that allow short sale real estate investing, youÂ’ll have the tactics you need to enjoy on-going success.
Would you like more information? How about a more in-depth article? You can get both at Short Sale Real Estate Investing.
Now, go make more offers!
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Tom Dunn is a successful real estate investor and author of the popular DealFiles Real Estate Investor Stories free newsletter. You are welcome to share this report, unedited and in it’s entirety, with anyone you like. You may not remove this text. © 2007 by Tom Dunn. Website: http://www.dealfiles.com e-mail: tom@dealfiles.com
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