Investors and Short Sales

We find that most sellers of short sale homes didn't start out with the realization that they could, in fact, relieve their stress and anxiety so quickly. In our investing business, and in today's real estate climate, we have by necessity become short sale experts.
Our investing includes a number of purchases which have come to us through short sale purchases. Yes, they take a certain amount of time to acquire, but in the long run, we get an opportunity, and the sellers of the home are relieved of their burden. Here's how it works:A home owner who is underwater finds out about us, and contacts us. We take a look at the home, and, often, it suits our needs as investors. Either way, we put the homeowner in contact with our amazing and talented short sale team, Short Sale Angels. What they do is list the property and help us write an offer on the home. Since banks require that a property be listed in order to approve a short sale, this facilitates the short sale, and the homeowers are not left stranded and waiting for the bank to come and kick them out of their home.Sometimes, instead of the home owner contacting us, we find a property through usual channels such as the local MLS, or because a Realtor contacts us with one he or she feels would work for us.What we really like about the process is that we can do much the initial counseling and support for the home owner who is in need, and direct them to a variety of services provided either by our team or by our associates. One of the most important things to accomplish as a successful investor is to be prepared to be of service to the home owners you want to work with. We believe in solving THEIR PROBLEMS FIRST. If you can do that, you will always be somebody who has earned and kept their trust.~ Posted by GRR/GSH

Private Money

Don't be afraid of private money, or even hard money, if you are going to invest. You need to leverage your efforts, and in today's market, with so little opportunity to earn good returns on cash, many investors are looking for a SAFE way to do better on their nest egg. Note, I said "safe." If you are doing it right, you'll be interesting to private money investors simply because you understand their position and how to minimize their exposure. You'll want to be able to show them how you will protect their investment, and what their options would be if the plans didn't go as planned. If you are taking loan against a property you'll be rehabbing and reselling, you should not even meet with a private money lender until you've done your homework and have firm numbers on: purchase price, repair costs, and after market value. You'll need to make your presentation clear and easy to follow. And the terms a smart money source will be looking for will be a loan secured by a note and deed of trust which is recorded in the county where the property is located. We routinely fund our transactions with private money loans because we understand that taking care of our money people is good business. We pay a great interest rate and borrow with short term loans. We are in, and out, generally within four months. And, we keep our project calendar as full as we can manage so that when a private money lender approaches us, we can usually place their money quickly so that it starts making money for the money person and for us, right away.
~ Posted by NH