Short-Sale Pre-Foreclosure Investing: How to Buy No-Equity Properties Directly from the Bank -- At Huge Discounts

ISBN-13: 9780470290309 / Angielski / Miękka / 2008 / 240 str.

Dwan Bent-Twyford; Sharon Restrepo

Opis

Learn all about short-sales, the hottest topic in today's real estate investing market, with Short-Sale Pre-Foreclosure Investing: How to Buy "No-Equity" Properties Directly from the Bank -- at Huge Discounts. Understand how to buy properties at big discounts, creating windfall profits. Using this guide, you can access information about a topic that 90% of real estate agents and investors know nothing about. Discover how to make huge profits from the banks' misfortune, how to help homeowners in foreclosure while helping yourself, and how to stay on the cutting edge of the down market.

Spis treści

Downloadable Forms.

Acknowledgments.

Introduction.

Chapter 1. Get Motivated, Set Goals, Get Started.

A Short–Sale Case Study with a $200,000 Profit.

Getting Motivated.

Setting Goals.

Accomplishing Your Goals.

This Is A Business, Not A Hobby.

Dealing With Naysayers.

Personal Appearance.

Setting Up Your Office.

Structuring Your Business.

Ready To Do Business.

Chapter 2. What Is A Short– Sale? An Executive Summary of How to Negotiate With the Bank and the Homeowner.

Why Do I Need To Short–Sale?

Why Do Banks Short–Sale?

How Much Do You Offer The Bank?

Successful Short–Sales Start With The Homeowner.

Financial Agreement with The Homeowners.

How Much Should You Pay the Homeowner to Move?

Setting The Move–Out Date.

Chapter 3. Expert Strategies for Finding Distressed Properties and Foreclosures.

Buying Bank–Owned Properties For Pennies on the Dollar.

Newspaper Ads.

I Buy Houses For Cash Street Signs.

Networking.

Postcards.

Magnetic Vehicle Signs.

Bail Bondsmen.

Pawnshops.

More Deal–Finding Favorites.

Chapter 4. How to Approach the Homeowners and Create a Win–Win Solution.

Understanding Why Homeowners Want to Work With You.

Building Courage to Knock On Doors.

Friendly Negotiations with the Homeowners What To Say And What You Need From Them.

Establishing Rapport over the Phone.

Knock on Doors Like a Pro.

Helping The Homeowners Understand Their Options.

Deed in Lieu of Foreclosure.

Chapter 13 Bankruptcy.

Final Thoughts.

Chapter 5. Preparing Your First Offer

Authorization To Release Information.

Going To Contract.

Hardship Letter.

Pictures.

Investor Cover Letter.

Comps That Justify Your Offer.

Net Sheet.

Estimated List And Cost of Repairs.

Chapter 6. How To Approach The Bank.

How To Get The Bank Interested in Talking to You.

What the Bank Wants From an Investor.

How to Get Through to a Stonewalling Lender.

Presenting Your Short–Sale Offer to the Bank.

The Asset Manager′s Role.

Working with the Portfolio Representative Directly.

Getting Your Short–Sale Assigned to a Loss Mitigation Rep.

Additional Information the Bank May Require.

My Offer Is Submitted Now What?

Chapter 7. Negotiating with A Second Or Third Mortgage Holder.

Your Conversation with the Second Lender.

Variations on a Theme.

Chapter 8. Key Elements of The Legal Process You Must Understand.

Understanding Ownership versus Debt.

Foreclosure Process.

Types of Liens.

Types of Mortgages and Loans.

Chapter 9. When the Bank Says Yes.

How Do I Buy More Time?

How Does The Homeowner Buy More Time?

Chapter 10. Three Profit–Making Exit Strategies: Wholesaling, Rehabbing, and Renting.

The Wholesale Path.

The Rehab Path.

Selling The Home.

The Rental Path.

Chapter 11. Setting the Closing Date and Making Sure the Closing Goes Smoothly.

A Successful Closing.

What If My Homeowners Change Their Minds?

What If My Buyers Change Their Minds?

Closing with The Assignment of Contract.

Double or Simultaneous Closings.

Are Double Closings Illegal?

Chapter 12. First–Year Expectations.

How You Can Become Rich without Going To College.

What We Did to Get Here.

What You Can Expect In Your First Year.

Thinking Like a Millionaire.

Index.

O autorze

Dwan Bent–Twyford, "The Queen of Short Sales," is the country′s leading authority on buying pre–foreclosure properties directly from lenders. She also leads popular boot camps for real estate investors.

Sharon Restrepo is known as "Short Sale Sharon" and specializes in buying foreclosure and distressed properties. She is the coauthor of numerous real estate home study courses, offers training workshops, and is cofounder of several real estate companies.

Blurb

"The ultimate book on short sales! Dwan and Sharon have made it easy for you to profit in today′s gold mine of foreclosure opportunities."
Robert Shemin, New York Times bestselling author of How Come That Idiot′s Rich and I′m Not?

"Having invented new real estate markets for over twenty years, I can strongly recommend Dwan and Sharon′s book. This dynamic duo invented the short–sale market nobodyknows more!"
Frank McKinney, international bestselling author and real estate "artist"

"As a national speaker and teacher for over twenty–five years, I′ve never met anyone who knows more about short sales than Dwan and Sharon. I′ve spoken to hundreds of their students who have earned tremendous profits. You could be their next success story!"
Nick Sidoti, a.k.a. Dr. Cashflow

Make a fortune in pre–foreclosures with help from the queen of the short sale

Millions of distressed homeowners are in danger of foreclosure, but can′t sell their homes and walk away because their property is worth less than the mortgage. Banks don′t want to foreclose because the process is so expensive and time–consuming. The solution is a short sale the process by which an investor buys the troubled property from the homeowner at a price far below the outstanding mortgage and the bank takes a write–off. Real estate investor Dwan Bent–Twyford and her students have made millions with short sales while helping homeowners prevent foreclosure.

Finally, here′s a single resource that tells you everything you need to know to get into this high–profit game:

• Find "underwater" properties and pre–foreclosures

• Approach distressed homeowners facing foreclosure

• Prepare an offer that helps you and the homeowner

• Negotiate with banks and mortgage holders

• Earn big profits through wholesaling, rehabbing, or renting