Nov
9
The Short Sale Secret That Will Make You Money on EVERY Deal
November 9, 2009 | Leave a Comment
As you know, it’s recently been discovered that a lot of people bought very nice houses they simply couldn’t afford. Now many of these people are facing foreclosure. For those that have experienced foreclosure, it can be a harrowing ordeal. The banks have their problems too. They have to get these big expensive homes off their books. otherwise they pay for the foreclosure process and attorney’s fees and opening costs etc. Foreclosing is something the banks would prefer NOT to do.
But today I want to share with you a secret on how to earn money on the short sale deals that would normally be passed over by the banks. (If you know short sales, then you know that this often happens) its a little-known concept called the “Deed in Lieu.”
So banks will quite often accept the deed so they won’t have to pay for the foreclosure process and attorney’s fees and opening costs etc. (You can usually get between $1000-3500 per deed!)
So what does that mean for you? A lot of investors stay away from short sales, claiming they are too difficult to make
money with. These are the uneducated investors who are not familiar with the Deed in Lieu. You can actually profit from
EVERY single short sale deal that comes your way when you understand how the Deed in Lieu process works. (Even the
deals that most people would typically pass up as being unprofitable).
Its great because if its a fantastic deal you make BIG dough on the short sale. If its not, then you can easily get a cool $1000-$3500 per deal using this little known wholesale real estate marketing trick.
For wholesale real estate marketing inteviews and videos, go to Michael Kimble’s blog atWholesale Real Estate blog. For 4 free marketing systems that find deals for you, go toWholesale Real Estate.
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