Foreclosure Investing Articles

Now that brings us from Pre-foreclosures, dealing with the seller, dealing on Pre-foreclosures without talking to the seller, Short Sales, Liens, buying at the Auction, and now after the auction.

If you remember back in the Short Sale lesson, when I talked about how the shake-up of the Banking industry changed things, I told you there is good news and bad news.

The bad news is the banks are no longer required to hold much of a reserve amount of money when a loan they have goes into Foreclosure. They are no longer held back from making new loans because of old, bad loans.

They do still have requirements, but for all intents and purposes, they do not have a reserve. So they don’t mind foreclosing on properties like they used to.

Now here is the good news. The good news is because of that, there are more REOs, “Real Estate Properties Owned” by the Banks than ever before.

And I have got a formula for the highest cash price I am willing to pay for properties.

So you need to find some potential deals and pre-screen them so you are only spending time on the most likely ones for you to:

A) Buy at a price that works for you,

B) In an area you want to buy them,

C) And they are a property type you want to buy

Let’s attack this in reverse order.

First, you need to know what kind of properties you are trying to buy.

I prefer single family homes near or below median home price. They sell the fastest, for the highest price compared to their comps, and have great profit margins.

You also need to know where your market Area is. Hopefully this is an easy one 🙂

Then take a simple comps Website. I like zillow.com. You can use whatever comps program you like best.

Open another tab, and also open up Realtor.Com. So they are both open at the same time.

Take the area you want to buy houses in, your market area, and tell Realtor.com to show you all the three bedroom, two bath single family houses.

Now put them in order from least expensive to most expensive.

Starting at the beginning (the cheapest ones), look at the listing, and if it’s the kind of property you would like to buy or flip, copy the address and paste it into Zillow.com and look at the comps to see what it’s worth.

Here’s a tip:

DON’T EVEN LOOK AT THE PRICE ZILLOW SAYS IT’S WORTH!

Zillow.com is not necessarily correct on it’s price. That’s ok. Neither is any other home price site.

So make sure you look at the actual comps – the nearby comparable houses that have sold in the area. Don’t look at Zillow’s “Z-estimate or whatever it’s called.

Look up the comps for yourself.

One side note that’s pretty awesome nowadays- you can even see a picture on Google Maps of the front and sides of the house. Very cool.

Do this Realtor.com to find them/Zillow.com for comps process, and take any listings that are asking less than 75-80 cents on the dollar, and call those Agents.

When you call agents that are listing properties at 80 cents on the dollar or less, you’ll talk to thre different kinds of Agents (and flakes, too. Just hang up on those.)

The first kind are regular deals from private Sellers. They are not REO’s, they are people who are asking a low price because they have tons of equity, and they want to get rid of it and don’t want to fix it up and make it look nice for a retail buyer.

Lots of times they are inherited properties or the people have owned them for a long time. Often they are pretty run down.

If they are asking less than 80 cents on the dollar, when I offer 55 or 60 or at the most 65% of market value, they are much more likely to say yes.

The second category are agents that have REO listings, meaning it is real estate owned by the bank. And the bank is asking less than market value in an effort to liquidate the properties quickly.

Some of these are gorgeous properties in nice neighborhoods. And it would be nice if the agents were flexible enough to work with us so that we could get in there and work our pretty house magic but that is not reality.

What we do instead is we make cash offers on these properties, and that means dirt cheap cash offers below the cash buy formula.

So I am talking abut buying these houses for 40, 45, 50, 60 cents on the dollar and turning around and flipping them either to another investor and making $10,000 – $50,000 or more on each deal.

If we are going to flip the house for 70% of market value, minus the cost of repairs, we need to buy it cheaper than that.

Or if you decide to use the lenders I share and fund the deal, you can turn around and sell it to an owner occupant for full retail (because it is a pretty house that needs no work) that you bought for 50-60 cents on the dollar.

Now here is the funny thing.

At the “Ultimate Foreclosure Bootcamp” I took the student’s areas and I did this exercise. And in some areas we found as many as 140 properties that fit these numbers.

I have students all over the country who are doing four, five and six deals a month just making offers like I just talked about, not even sending a letter, not filling out a form, not working with the sellers one on one. Nope.

Just making offers on listed properties at dirt cheap prices.

And, of course, we are looking for the ones who are already asking a low price so that we don’t have to fist fight our way through agents and their rules.

You know…realtors will pretty much screw up anything creative you want to do. So you have to be offering cash.

And if you are going to offer cash it has got to be dirt cheap so you can either flip it to another investor, or finance it, turn around and sell it yourself.

Either way, you now have the resources to do so.

Now let me tell you how to take this to the next level:

Finding deals from your laptop or even your phone like this is great. And if it turns out to be a good deal, grab it and do it!

But really, the most important thing is having an agent who gets these kinds of properties listed, and working with them on a regular basis.

See, a good REO/Bank Owned agent is hard to find. They spend a lot of time, effort, energy and money getting to be a top REO agent for investors, building buyers lists and such.

It’s not something that just any old agent can do.

That’s why, if you’ve tried to get the WRONG agent to work with you, it was like pulling teeth just to get them to find what you wanted!

They probably told you there were no deals like that, or the deals always sell for more than the asking price in 20 minutes or whatever other nonsense they spout.

But when you find an Agent WHO ALREADY HAS GREAT DEALS…

…they’re like a gold mine!

That being said, just know that the “real player” agents don’t want to deal with anyone that they think is just going to waste their time.

So you have to be ready to present yourself right- like a player (which is what you are going to be, right?), not like the hundreds or thousands of “looky-loo’s” and wanna-be’s in your marketplace that this agent has to deal with constantly.

So you DO need to at least SOUND like know what you’re doing before the real Agents will work with you.

Everyone knows that REO’s are a great source of dirt cheap deals. Just look at how many serious cash buyers focus on them!

That’s why you’re smart to want to do these kinds of deals. And if you want to deploy these methods quickly and simply, and start getting these kinds of results from your kitchen table or laptop (I like to sit by the pool with a tasty beverage and look up deals and Agents), then you’re going to want to check out a brand new Course I’ve created that does just that for you.

It’s called, “The Ultimate Foreclosure System”, and you can check it out here:

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idihulusungaitengah.org

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Preforeclosures and Auction Deals- Without Ever Dealing With the Seller

There are entire categories of Preforeclosure deals where you can make a fortune on these deals without ever dealing with the seller.

One of the ways we do that is to go after the liens and buy those liens at a discount (if it’s a Preforeclosure), or Buy the lien and get ownership of the property (if it’s an Auction deal).

Here’s how it works:

Whenever you are looking at a local bank that made a first or second mortgage or even a third or fourth or fifth mortgage, or if you are looking at a foreclose-able Judgment against a property, or in a lot of cases a seller held mortgage, usually a second, that the Seller allowed to get the deal done in the first place.

Any of those prospects that come up through the Foreclosure Liens are ripe for you to step in, buy the lien at a discount and “back in” to ownership of the house.

And you don’t have to deal with the seller. You actually become the one doing the foreclosing, if it’s necessary.

So, for instance, let’s say we had our $250,000 house with a $200,000 first and a $50,000 second. Now let’s say you step in on that property and you buy that second mortgage for $5000.

If you remember when we talked about Short Sales, we got him to discount the $5000 and paid it off.

Well, if we haven’t worked with the Seller and we don’t have control of the house, we don’t want to pay it off, otherwise there would be no mortgage and we would have no claim.

Instead we buy that $50,000 lien for $5000 and now the seller owes us the $50,000 instead.

It’s a great position to be in. We have every avenue available to make money.

If the seller refinances, we get paid $50,000 for a $5000 investment.

If the seller turns around and sells the house we get $50,000 for our $5000 investment.

And if you are an ethical investor like I urge you to be, I will go to the seller and say,

“Listen. I have good news. I bought the second mortgage on your house, so you don’t owe them the money any more. Now you owe it to me. And I don’t want your house. So I am going to do everything I can to either get you refinanced or help you sell the house. How does that sound?”

I have even done these deals where I restructure the loan so they pay me back on a regular payment plan.

So in a case like this, I will make a $5000 investment and I will collect up to $50,000 when the house is refinanced, sold or otherwise taken care of, and monthly payments in the meantime.

So it is a great way for you to back into these deals. You don’t ever have to deal with the seller if you don’t want to. You can just let the chips fall where they may.

And if you really do want to you can foreclose on that house from a second position.

Why would I do that? In many cases we will end up doing that when the house is vacant and we can’t find the seller to work with them.

We will buy a junior lien at a discount and we will end up owning the house “Subject-to” the first mortgage.

And we can do that on houses where other investors can’t even find the seller to make a deal!

That will massively expand the number of deals you can do. And sometimes you will make more money staying out of it, and letting the seller refinance or sell it however they want and just cashing in when the note gets paid off rather than even bothering with the house.

One of my favorite strategies for these delinquent 2nd, 3rd, 4th liens, is to just work with the Owner to figure out a repayment plan.

I had one of these deals one time where I had bought a second mortgage at a discount and said, “Hey, I have got good news. I bought the mortgage on your house and I don’t want your house so I am going to bend over backwards to help you refinance or sell.”

And she said, “Well, I made up the payments on the first mortgage. Can I make up the payments to you?”

And I said, “Sure!”

Because I am not in the business of putting people out of their house.

I don’t want to turn people out of their houses. I don’t like doing it. It is not what I am in business for.

I am here to help people. To help those who want to be helped. Those who are good people to whom something bad happened? I love helping them.

That is why I am in this business instead of another.

So I actually allowed her to just make up the back payments to me.

She went on and made payments to me for almost two years before she finally sold he house and I got paid in full.

So it was probably five times my investment that I got paid back and I am more than happy to do that for her if she is willing to make the effort to bring everything current and make it work.

I am more than happy to be the bank for a while.

But I am in that position because I know how to do it, because I am smart enough to make it work. The Bank would have just foreclosed on her!

So it is good for her that I came into her life. And it is good for me, too, because I made a quite a bit of money.

So you can help them refinance and if they can’t pay you off in full maybe they can pay you off in half and you get the other half later.

When you’re the bank, it’s wide open.

There is another level of this strategy, this “Buying Liens at a Discount” strategy.

Almost no one knows this, so let’s keep this hush, hush between you and me. Most people don’t know that you can buy junior liens at the Foreclosure auction and back in to controlling the house.

So let me be really clear about how this works.

We were working on a property one time, a property where there was a $6000 homeowners’ association lien.

Now that homeowners’ association lien was in second position. There was a first mortgage on the property and the first mortgage was for $112,000. The property was worth around $160,000.

At auction that Lien, that Home Owners Association Judgment, the $6000 lien sold for $12,000.

Now most people say, “So what? What the heck does that mean?”

Well, the good news for the owner is that since the lien was $6000, and it sold for $12,000 he got $6000 overpaid for that lien. That’s a profit to him if he knows to go and get it.

Here is the bad news for the seller. At the auction the winner of that mortgageended up being the owner of that property “Subject-to” the first mortgage of $112,000 for $12,000 down.

Meaning when they won the bid on that homeowners’ association lien, they became the owner of the house “Subject-to” the seller’s mortgage, the unwilling seller’s mortgage in this case.

The 2nd lien Forecosued, and the winner of the bid, for $12,000, now owns the house complete with a $112,000 mortgage on it.

So what that means is this person bought $160,000 property subject to $112,000 first mortgage, which was current, for $12,000 down.

Imagine you put $12,000 down and you bought $50,000 in equity in a beautiful house in a nice area.

That is the kind of investments that I am talking about.

The $12,000 went $6,000 to the HOA, $6,000 overage to the Seller, and the seller lost ownership of his house.

Now that is the bad news. The good news is if it was you, you could help them retain ownership of the house by refinancing or selling.

But more important is that you can buy these Foreclosure deals when the seller is gone and no one on earth can find them!

And every other Investor in town would LOVE to “have a crack” at talking to the Seller, but you don’t care because you don’t have to find the seller to buy the house.

Everyone else on earth, who doesn’t know this, has to find the Seller to buy the house… but not you.

So this will allow you to do is sit in your office, or by the pool like me, and cherry pick only the best deals, and leave your so-called competition scratching their heads, wondering how you keep doing it!

And when you combine this with “OPM” – Other Peoples’ Money – you can get other people to lend you those small amounts of money, $6000, $12,000, $20,000…

…but the whole point of it is you can control those properties that other investors don’t even know how to deal with.

Heck, 99.9% of people don’t even know these kinds of deals exist!

But you can buy them. You can get $50,000 equity or more in these properties and no one else knows how to do it but you. And that is the real power of this strategy.

Everyone else gives up way before the Preforeclosure stage is even over.

Almost no one understands how to buy properties at auction. Most just show up and pay too much and all cash for houses they’ve never even seen the inside of!

And of the few, the tiny, tiny handful of people who do understand it, almost no one is leveraging their efforts by buying small liens.

I personally prefer to work these kinds of deals on vacant houses. And I’ve created a system for finding vacant houses where the tiny Foreclosing lien is the senior Lien.

That means, when you win the bid on that Lien at the auction, all the Junior Liens- 2nd mortgages, 3rds, Judgments, whatever they may be, are wiped out.

In fact, I had a student who came to the Foreclosure Event that I recorded for the Ultimate Foreclosure Course, and she had just bought a $175,000 condo in Boca Raton Florida…

… for $3,300 Free and Clear!

I want to make a point here.

You can go to your Foreclosure listings, however you are getting your leads, the three free ways we talked about or maybe you are paying for them. I don’t really care.

Just look at how many of those liens are small homeowner’s association liens. And when you send out your “sneak up” marketing letters, look how many come back stamped vacant.

All of those of those are almost completely cut off to other investors and are ripe for the picking if you are using my system.

You can buy low cost liens at auction and back into ownership of the properties. That is a hugely powerful technique not 1 in 1,000 of your so-called competition understands.

And to tell you the truth, in 99% of the Foreclosure auctions I have been to, no one will even bid on those because they don’t know what we know!

So now you know how to buy houses at auction dirt cheap.

You can also buy liens at auction and control the property buying small liens and taking over the existing financing with the full knowledge and the full consent of the local Foreclosure sheriff’s office or County Court.

You can turn around and sell the properties for a big profit and do it all without ever dealing with a Seller, or needing a bank loan or anything.

If you’re someone who wants to change your life for the better while helping other people keep their homes, and protecting neighborhoods from the blight of vacant houses, then you might be wondering how you can implement all the tactics and strategies I just showed you quickly and easily.

The way to do that is a brand new Course I’ve just created called, “The Ultimate Foreclosure System”.

It will show you how to find, control, and profit from these deals, including how to tap into “OPM”- Other people’s Money- to fund these and all of your property purchases.

For all the details, and to see how you can get these systems and knowledge for yourself, go here:

idikepulauanselayar.org

idihulusungaitengah.org

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Short Sales the Right Way

The next thing that brings me to is Short Sales. And Short Sales are the least understood and most hyped aspect in the foreclosure Business.

Don’t get me wrong, Short Sales are great.

My wife Laura and I just finished a Short Sale worth over $400,000 to us.

So I am not saying Short Sales don’t work. I am saying the deals that most people are trying to Short Sale are the worst possible Short Sale deals.

Here’s why:

They are going after properties with one or two mortgages that are over financed, meaning 120%, 130% of what the house is worth is owed against it.

And they are trying to discount them to 85% of market value or 82% of market value, something like that.

Here is the problem with that.

Even if the bank says yes—and they are very likely to say yes because they realize that they are going to take a soaking at the Foreclosure auction- but even if they do say yes, you’ll never make a profit on that deal, because your Buyer’s Bank won’t let you flip it.

The seller’s bank is going to want to see a closing or settlement statement that shows they got all the money at closing. They don’t want to see you making a profit on a deal they just took a discount on.

That makes sense to me. They lent the money, they want it back. If they can’t get it back so be it, but they are not going to let you get it instead.

So when you close those deals you have to pay cash. But if you are paying 82 or 85% of market value you are paying too much to pay all cash, and still make a profit.

By the time you raise the financing, make a couple of payments, pay all the closing costs to buy it, turn around and sell it and pay some more closing costs, etc., there’s not enough room for you to make a profit.

And besides, if you want to pay that much for houses, you could probably find a different house that’s already asking 85% or less anyway, and not have to go through the whole Short Sale deal!

For that price, you could could skip Foreclosures altogether!

If you want to pay 85% of market value for houses you sure don’t need to go through all those headaches to get it. But that’s what most people are trying to do with their Short Sales. 100+% financed pretty houses with no reason for a good, solid discount.

They are the worst possible deals.

The reason most people are trying to Short Sale those deals is because they are the easiest sellers to work with because the seller is not giving you anything.

See, things have changed in the last couple of years in Foreclosures.

Number one, the federal government has now made it so that if your seller gets a Deficiency Judgment due to a Short Sale, the bank cannot write it off and charge them for the Deficiency, and they can’t report it to the IRS and have the IRS call that a gain for taxes.

Here is what that means:

It used to be…let’s use our $250,000 house example and let’s say they owed $250,000 and then you discounted that down to $200,000 and turned around and made a profit on the house, ok?

Well, if the bank decided not to come after them for the balance due, the bank could instead write it off on their bank’s taxes and the seller would have to pay the income tax on $50,000 that they borrowed, but never paid back.

Well, the government wiped away that requirement. The government now is saying, “Hey, we want people to be able to get refinance loans and if they are going to be getting refinance loans we don’t want them to feel like if the market goes down again they are going to get stuck”.

So the government waived those Deficiency Judgment and Tax Liability requirements. And a HUGE number of Sellers just walked away from their mortgages and from the properties, because there was no real downside.

Now, that would stink for the banks, except the government waived another requirement, too.

They waived the bank’s requirement to hold so much money in escrow for each property they take back.

So you may have heard people say banks hate real estate. Well, it is true that banks hate real estate, but they don’t hate it near as much as they used to.

It used to be that if a $250,000 loan went bad the bank had to leave some amount of money, usually close to that $250,000, in a reserve account to make up for the asset that they don’t have anymore, ok?

Well, now they don’t have to do much of that anymore. The reserve rate is at a historic low.

So the bank can have virtually an unlimited amount of REO properties and they are not really held to task on having this huge catalog of unsold properties.

So you have heard people say before, “Banks hate real estate.”

Well, if you watch the REO departments of some of these banks they are swollen. There’s two, three, four, five times as many REO properties as there used to be.

I am going to come back to REOs and how you can make an absolute fortune off of them from the comfort of home.

But for now understand that the Short Sale game has changed. The bank is no longer afraid of owning houses like they used to be because it used to be crippling to their business.

Now it is just sort of annoying to them.

The next thing that most Investors screw up on Short Sales is dealing with the Lender.

Most people are coming at the bank and saying, “You know, I am a friend of the sellers and I am going to try to help him out.”

And the bank is saying, “Ok, great. Well, let me send you a Short Sale package and you send it in and blah, blah, blah.”

And it is taking sometimes six, seven, eight weeks, or maybe they never get an answer at all. I’ve heard of some people taking a year or more to get a Short sale approved!

And what is happening is if you send in a Short Sale package that is not 100% complete and the bank doesn’t think you know what you are doing, they don’t have time to train you and they just ignore you.

I have loss mitigators saying to me on the phone, “Tell people we don’t have time to train them. If they don’t know how to do it, they can’t do it.”

So the bank can’t sit there and hold your hand like they might have been doing before. You better know how to do the process.

You can’t just, you know, kind of give it a half hearted effort and expect the bank to make up the difference. They are not doing that anymore.

Some of the loss mitigators I have talked to have gone from having 30 or 40 files that they are working on to over 300.

They don’t even have time to answer the phone from all the people who are calling, much less teach them how to do Short Sales.

But the banks are more than willing to work with you if you have a different approach.

And our approach is to go to the banks and say, “Listen. We are investors. We know what we are doing. I have everything you could need to be able to do this Short Sale. Just tell me what you need me to send you from the seller for you to give it your ok.”

And they say, “Ok, great.”

You know, you have proven you know what you are doing. You are talking their language.

And all of a sudden you get practically Concierge service. They answer the phone. They know who you are. They know what you are doing. They want you to buy the house and get it out of their hair and off their desk.

You find out what they need from you, and when they need it by, and you get it to them.

And we have gotten Short Sales done in as soon as three weeks. In fact, you’ll get an answer in a week or two, then it just takes a little longer to actually close the deal.

For example, remember the deal Laura and I did where we made over $400,000?

We got our answer back from the bank in two weeks. I offered $800,000 for a house worth more than $1,250,000 and the bank agent doing the Short sale responded with a counteroffer of $808,500 in two weeks.

I know, I know. He surely outfoxed me that time. He talked me up to $808,000… but oh well, it’s hard bargain, but sometimes you just have to bit the bullet and just walk away with 440 grand and change… 😉

But that is pretty much the Preforeclosure game. I could spend a week talking about Short Sales and how to do them right while everyone else can’t do them at all…

But I think you get the point that if you are doing Short Sales the old fashioned way it is frustrating, it is annoying. They are not answering the phone, they are not giving you calls back, and they are definitely not giving you the answer that you want.

And the reason is they don’t have time to train you. So if you give off the vibe that you don’t know what you are doing, they certainly won’t have time to tell you how to do it.

So you really need to know the score. If you just speak like you know what you are doing, it will increase your ability to close these deals by two or three times. Many more of them will get approved, because the other Investors’ deals aren’t even getting looked at.

That’s how you get your Short sales through fast. Then once you understand that, the next thing you need to understand is how to target the best, most profitable Short sales out there- Junior Liens.

See, your best possible Short Sale prospect is a property that has a BIG 2nd mortgage, following a first mortgage that’s low enough you can pay off in full by selling the house.

So, for example, let’s say we have our $250,000 house again.

It has a $200,000 first mortgage and a $50,000 second mortgage and we can negotiate the $50,000 second mortgage down to 5000.

It seems like one of those “80%+” deals I told you were impossible before, right? But because it has a first mortgage that does not need to be discounted, you can sell that deal and pay it off using your Buyer’s money.

Remember when I said that if the bank does a Short Sale, the Bank will want to see a Closing Statement that shows them that they got all the money?

That applies ONLY if the First Mortgage Bank takes the Short Sale discount.

But when you go to close this deal you can easily close using your Buyer’s funds because the first mortgage is getting paid off in full.

Any Buyer can buy it from you. They don’t have to have special lenders. Any lender can fund your buyer’s purchase of this deal because you don’t have to do any weird double closings. You don’t have to do anything unusual.

And there are hundreds of these deals available within an hour’s drive of where you live. And I don’t care where you live.

Everywhere in the country there are hundreds of these.

All you need to do is learn how to discount Junior Liens, 2nd, 3rd mortgages, etc.

Don’t even worry about senior, fully leveraged houses with 100%+ first mortgages for now.

With a little expertise, just knocking down the second mortgage, turning around and selling the house and cashing everybody out including yourself is the fastest and easiest approach to Short Sales you can do.

This is why so many other Investors struggle with Short Sales! Because they go after the worst possible deals – 100%+ financed, all one mortgage properties.

The best candidate is the first and the second when you don’t actually have to discount the first, you only discount the second so you can pay the first in full at closing.

Then you get a retail buyer, use their money to close, get your profits at that closing, and no one is upset with you because you can show it in the HUD one.

And here’s how I speed up the process for Short Sales. This is the absolute best possible way to maximize your chances of success.

I discovered after years of buying Foreclosures and doing Short Sales that I hated doing Short Sales the old fashioned way.

I didn’t like how long it took. I didn’t like having to hold the sellers’ hand. I didn’t like the sellers changing their minds and saying, “Oh, I don’t want to do it anymore,” and I didn’t like how much time it took to get all the paper work and how many times I had to meet with them, drive back and forth, everything.

And I will tell you the truth, even when you are helping people sometimes you just can’t stand another sad story.

I got to the point where it seemed like too much…too emotional for me to really do too many of these Short Sales.

So instead what I did was to start searching for properties where an agent had listed the property at a dirt cheap price and it was a Short Sale. So if I made an offer the agent would go do the Short Sale to get my offer approved.

I thought, “Well, all I have to do is make an offer. I don’t have to do any negotiating. I don’t have to do any of that crap.”

And what I found was these agents were successfully getting the worst kind of Short Sales successfully discounted. They were able to talk to the banks and say, “Listen. I want a discounted first mortgage, and we have to get it down to the cash numbers.”

So those deals where you would say, “Hey. I’m a friend of the seller’s,” that were not getting accomplished because the bank was saying, “Oh, we don’t have time to train you.”

Or you could do it yourself and say, “I’m an Investor, I do this for a living, and I have everything you could possibly need to do this Short Sale”.

But even then I had to hold the seller’s hand, talk him through the process, handle all the issues, take care of all their problems, and it took a lot of time, emotional time.

Well now, I have a real estate Agent do all of that for me, hold their hand and get paperwork and stuff.

When I get a Seller who called me and wants to work with me, but thy need a Short Sale done first, I just call up my Short Sale Agent, get then two of them together, and let her handle it all.

Then the agent gets a listing agreement, I give her my offer for a low price, and when it gets accepted, I buy the house at a dirt cheap price.

And in the meantime, I don’t do anything to get the Short Sale done.

And in some cases I even wrote into our contract that I had the right to hold open houses before the closing.

So I have my buyer on the hook before we ever even close the deal.

You can do more Short Sales, faster, with a better success rate without ever talking to a seller, without ever having to do all the stuff that is how everybody else keeps telling me is how the Short Sale business is supposed to be run.

The key is finding the right Agent, who is already doing dirt cheap Short Sales so you don’t have to train them. Then you have to position yourself as a source of new leads, listings, and eventually, sales commissions (which is paid by the Bank, so for you and I- it’s FREE!).

So congratulations to you for taking the time to learn a better way.

Most people who think they know the Foreclosure business the entire Preforeclosure business starts with buying them cheap and ends with Short Sales.

And not many people will seek out a new and faster, more profitable way to not only do more deals, for bigger profits, but to also do it in less time, and with less work…

But you’re here, sitting at your computer reading this. You’ve seen how this works. And you know that this is a better way to get started doing Foreclosure deals.

So you’re perfect for my new, “Ultimate Foreclosure System” Course.

It will teach how to implement these systems for Preforeclosures, Short Sales, Foreclosures, and REO’s, so you can get started quickly- the right way the first time, jack up the number of deals you do, increase your profits per deal, and put the whole process on ‘97% Automatic Pilot” so it brings you deals, Buyers, and financing.

To check it out and see that it’s right for you, go here:

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