OfflineHello DG family. I am coming to you all with a question concerning short sales. I seem to get potentials calling my 800 number, but when providing their info i'm finding that the callers homes are worth less than their loans are worth. My question, is there any potential with these calls? I look to do wholesales through my 800 number, but with my buyers not seeing any equity in the homes it makes it hard to turn these calls into something positive. Has anyone else completed any short sale transactions through your 800 number? All help is greatly appreciated.
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There are tons of potential with these type of properties. However, the question is how long do you want to wait for the potential to pay out? Most short sales take several months (6-8) to complete.
If you are interested in short sales I would suggest that you work them regularly, each month for several months. Six to eight months from now the acceptances and completions will be a regular thing because of the consistency of working the short sales months before.
What is great about the sellers contacting you is that they most likely have not contacted a Realtor. I find when it comes to short sales most Realtors do not know how to truly handle them and get you the investor the best price.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Thanks for the response ddowd. I would have no problem holding any properties that come my way through my 800 number as a short sale, as I understand that I wouldn't be able to sell them in a short period of time for a good profit, but do you have any pointers you could give me as to how I'd structure the the deal without sounding clueless to the caller? Also, if I was able to take advantage of one of these opportunities would I still be able to help the caller out of preforeclosure or would I actually have to let the bank go through the foreclosure process and let the caller know that I can't assist them?