I know everyone has heard all of this talk about investors making thousands and thousands of dollars on short sales.  Well I can stand here today and tell you, from my own experiences, that it’s true.  Just from the last 30 days, we have been able to amass over $10,000 in profits from two short sale deals. 

Marketing for short sale leads and negotiating short sales are beyond the scope of this post.  But I will give you a few resources that I’m sure you will find beneficial in your efforts to find leads and get them negotiated.  My preferred method of generating leads is marketing to homeowners who are 60 days late on their mortgage.  You can obtain this list from a reputable company named Yellow Letter.  They sell Pre-NOD leads to investors and can also mail out letters to these individuals for you for a fee.   

As for short sale negotiations, I would recommend using First Choice Loss Mitigation.  They negotiate short sales for buyers, sellers, Realtors, investors, attorneys, and lenders.  You can also partner Read the rest of this entry »

Wholesaling real estate is not a walk in the park.  Due to the constraints of the economy and the bad rap that bogus investors have given the business, it is getting harder and harder for an end buyer to get financed. 

When a wholesaler gets a property under contract, they normally sell the property to an end buyer by assigning the contract or receiving a fee from the end buyer to purchase directly from the seller.  But in some situations, such as a short sale, the wholesaler must purchase the property first in order to fulfill the arrangements made with the foreclosing lender.  This simultaneous closing transaction is structured something like this: Party A (lender/seller) sells to Party B (wholesaler), who in turn sells to Party C (end buyer) Read the rest of this entry »