About Short Sales

I speak with real estate investors nearly every day, and they always ask me about marketing. Where do you find the good deals? Do you find yourself asking that question, too? They know it might be a good idea to switch strategies when their existing ones don’t work. They get frustrated when their cash flow isn’t steady, so it’s no wonder they’re looking for a better way to find short sale leads.

That’s a great question, and I can answer it in a single word: referrals.

I have coaching students all across the United States who have a jam-packed pipeline of pre-foreclosure and short sale leads, and they spend absolutely no money on marketing. How? They have solid sources in their local markets who feed them free leads to these properties on a regular basis.

Before you go referral-hunting, you need to initiate a couple of referral-friendly programs in your business. The first task is to set up a referral fee structure for professionals who are willing to send you leads. Fees can range from $200 to $2,000, and this extra incentive from a done deal is a very motivating and very simple policy for you to begin. The second task is to develop a Gift Referral Incentive Program (GRIP) for private individuals who take the time to talk to a homeowner in trouble about working with you.

Now that you have the carrot, let’s look at who might be in a position to grab the stick. The only cost of using this method of marketing is your time in getting to know these people.

Attorneys: What you’re looking for is an attorney who deals with financially distressed people on a regular basis. The strongest potential lies with bankruptcy and divorce attorneys, who can and do accept referral fees. Divorce attorneys may have clients who are each demanding that the other pay the mortgage, so nobody does and the property goes into foreclosure. Bankruptcy attorneys frequently represent homeowners in trouble. A good bankruptcy attorney knows that, if a client files for bankruptcy protection, the client should still sell the property to eliminate the foreclosure from their credit report after the bankruptcy has been discharged. Don’t count out other attorneys who don’t specialize, but who do have clients like these. Get to know them too, and ask for their help.

Mortgage Brokers: Since so many mortgage brokers have put people into houses that they couldn’t afford, they often feel some sense of obligation to help distressed homeowners who were once their clients. Refinancing doesn’t work when the homeowner is over-leveraged as so many are today. Consider bringing up the possibility of building a direct marketing campaign to promote both of you. For example, the mortgage broker can create a direct mailing campaign to generate possible leads for refinancing; however, the broker can include in his marketing that, for those people precluded from refinancing, there is another option – you. Conversely, you as the investor can do the same thing, but with a twist: you can market the option of either selling the house or trying to refinance. Since 90 percent of attempts to refinance end in failure, the lead will come back to you, the investor. Make sure that the mortgage broker pays for the direct mail campaign. When your short sale deal closes, pay the mortgage broker that referral fee.

Title Companies: Mortgage brokers who are attempting to refinance a person facing foreclosure always work with a title company. If a title company is aware of the work that you do, and you send them business, they will send you leads for those refinance deals that failed. Title companies are also staffed with people who are in the real estate business. They hear things going on throughout the area and the industry. If they are aware that you want those leads, and that you also pay referral fees, they will send you those leads when they run across them.

Remodeling Specialists: People in the home repair business deal with real estate professionals all the time. Because these contractors also have an unstable cash flow, they might jump at the idea of getting a referral fee just for paying attention to conversations about homeowners in pre-foreclosure. Mention the phrase “up to $2,000,” get out your elevator speech, and get ready to hear all about troubled homeowners in your neighborhood.

Other Short Sale Investors: We were doing short sales while most of the real estate investors around us were doing rehabbing. It didn’t take long to figure out that they had no idea how to help homeowners who couldn’t sell their house outright because they owed more than the house was worth. Once we explained our referral program to them and offered them anywhere from $1,000 to $2,000, the leads began to come in. It also became a good opportunity to get to know other investors and their businesses.

Sellers, Friends, and Family: The homeowner will be feeling pretty good about how you helped them when the sale of their home closes. While you can, take that opportunity to talk to them about who else they might know in their situation. Emphasize the benefits of referring their friends to you with your GRIP flyer, and leave them with a business card or two to pass along just in case they think of anyone later who might need your help. Hand those out to your family and friends too. They’ll be more likely to remember you when they talk to a homeowner in financial trouble.

Finding new short sale leads can be as simple as getting to know the people around you. Good luck with your networking!

Want to find out more about finding short sale leads? Visit Josh Cantwell’s site on how to choose the best marketing methods for your needs.

The best way to make the home buying process in Orlando as smooth as possible is to seek advice from a Real Estate agent. There are such a lot of legalities to think about and so many completely different ways that in which to obtain financing. And there are just so many things to think about with the house itself. If you are looking for a better method to make the home buying process as easy as possible it only makes sense to contact someone who handles buying and selling homes all day long.

When shopping for a house you want to look at is as shopping for a home, not an investment. You ought to choose a place that you are going to be comfortable living in for at least 5 years. Particularly with the Real Estate Market in the shape it’s in right now you certainly do not want to shop for a house and try to flip it for a profit within the next few years. Nevertheless you still want to get as much value for your money as potential so do not be afraid to negotiate the price.

One of the best things you can do to make the home buying process less of a headache is to get your financial house in order before you even start looking. In the face of this recession, banks and lending firms are tightening up their requirements so as to avoid more delinquencies and foreclosures. So you are going to want a good, solid credit rating, a good down payment and a verifiable employment history. If you are trying to buy a home with anything less right now you are going to be in for a really bumpy ride.

Since rumor has it you may be able to get foreclosure properties at a really cheap price that may be the first place you’d prefer to look. However be careful. A lot of them have some legal entanglements that will make your home buying process that much more difficult. Yet another reason you ought to visit a Real Estate agent who knows the laws and mortgage lenders in your area.

Let your Real Estate agent and lending company or bank know that you would like to be involved every step of the way and keep copies of every document that you sign. And if you do not understand something be certain to ask questions before you sign. You do not need to come to that closing table and realize that the house failed to pass the termite inspection or that you need more for the down payment. Putting off a closing to take care of business that ought to have already been taken care of can end up costing you more money on the front end.

One of the biggest mistakes that home buyers make is to underestimate the amount of time and paperwork that is involved in the process. Buying a house is a long, difficult, and often tedious process yet it’s likely the single most important investment you’ll ever make. Everybody wants to make the home buying process in Orlando easier and the best way to do that is to use a Real Estate agent who will advise you every step of the way.

Learn more about Orlando Foreclosure Properties. Stop by Scarlett Pierce’s site where you can find out all about Buying Orlando Foreclosures and what it can do for you.

Regroup Services and Avi Joshua Levy, are a short sale acquisition firm catering to the property industry in and around Orlando, Florida. They are not a real estate agents per se, instead they liaise directly between the seller and the lender to purchase the property. Regroup Services and Avi Joshua Levy even work to help resell the property after they’ve bought it.

Regroup Services pay a commission twice. Once when they first are given possession and again when the property is resold. In these days of recession it is important to find real estate investors that will help to improve your situation with little hassle.

If like millions of other Americans you are having major difficulties keeping up the payments on your mortgage then a short sale may often be the best option. It is far more preferable than a foreclosure. Regroup would be able to not only list the property but also take care of any negotiations. It is this aspect of selling a home which can be most difficult.

By hiring experts to conduct the sale on your behalf you will be certain that the potential revenue is maximized. This will allow you to concentrate on other parts of your life such as your career. Also, the seller can relax because they will know, they will have the best possible outcome provided their difficult financial situation as Regroup Services provides free consultation from a certified distressed property expert (CDPE) on every deal they are involved in.

When it comes to selling any real estate it is important to use agents that have many years experience in the industry and are up to date with the latest market conditions. Regroup have already helped tens of thousands of families find a way out of financial problems, it does not matter what the size or value of your home or your financial crisis.

If you have need to find a buyer for your home quickly whether you are the seller or a seller’s agent then it makes great sense to work with a company who expedite the entire process faster and more effecienly then any alternative out there. With more bank defaults to come, house owners are deciding the short sale is the best means of geting out from under financial obligations which they can no longer satisfy. When deciding who and how a short sale will be executed, the importance of working with experienced professionals like Regroup Services and Avi Joshua Levy very important.

For more info and queries in regards to Regroup Services and Avi Joshua Levy please visit the group at www.regroupservices.com