You?ve heard about short sale real estate investing, but you aren?t sure what all the hype is about, because you don?t know anyone who has actually done one. Everyone on the internet is talking about them, in the real estate investing forums, and in your investor club meetings, but still the whole thing seems just beyond your grasp. Read on.
There are only three basic steps necessary to be successful with short sale real estate investing, and this article will give you all three of them.
First, you need to find the properties. The best ways to accomplish this is through normal ?We Buy Houses? ads, and driving around looking for distressed, or overgrown, property. These two methods should net you calls from sellers that are near the brink of foreclosure.
Second, you need to get the seller on your side. You do this by listening, empathizing, and communicating openly and honestly with the seller about how you plan to help them. Answer all of their questions completely, and speak with them often to keep the channels open.
Third, you need to find the right person at the lender to speak with. That?s not always easy, and this step will separate the successful from the unsuccessful at short sale real estate investing.
The first person you speak with will almost never be the right one, and you may need to jump through some hoops before you finally reach someone with the authority to do for you what you need done. Persevere and you will find what you?re looking for, and get the deal done.
Short sale real estate investing is a lucrative and powerful wealth-building tool for your arsenal. With foreclosures on the rise across the country, a trend that?s likely to continue, learning and applying short sale real estate investing skill will become even more important as time passes.
There is much more that could be said about how to buy using short sales, but these three steps are the basics. For more try http://www.dealfiles.com/shortsale.html.
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Tom Dunn is a successful real estate investor and author of the popular DealFiles Real Estate Investor Stories free newsletter. You are welcome to share this report, unedited and in it’s entirety, with anyone you like. This text, and all live text links, must remain intact. ? 2007 by Tom Dunn.