| Short Sale investing is the least risky and the most | | | | and pick the best that is most relevant to pre |
| leverage strategy for new investors to make money | | | | foreclosure or short sale investing. |
| in pre-foreclosure investing generally. However, this is | | | | 2. Put Your Team Together |
| only true if you know what you are doing. | | | | If you don't have a short sale closing team, you should |
| It requires literally almost nothing in capital to start | | | | not be initiating a short sale at all. You should not be |
| investing in pre-foreclosure by way of short sale. Many | | | | making any attempt to contact a pre-foreclosure |
| people initiate short sale process that they cannot | | | | homeowner on helping them. No one individual can |
| finish. They usually get frustrated out of the business | | | | complete a short sale transaction process by |
| anyway. No wonder, out of all the pre-foreclosure or | | | | themselves. |
| real estate investing strategies, short sale still has the | | | | Of all the exit strategies available to profit in |
| least number of experts doing it successfully. | | | | pre-foreclosures are being taken advantage of. This is |
| There are lots of pitfalls in the short sale and | | | | not about having people on you payroll. This is much |
| pre-foreclosure investing business. Committing some of | | | | related to your networking discussed earlier. The |
| the most common early mistakes will cost the investor | | | | professionals that you will need on your team are |
| time, money and the likelihood of any success. If you | | | | probably VIP or vendor members of the group you |
| know them now, chances are you will avoid them. In | | | | joined. |
| Pre-foreclosure, it can get very messy if ignorant. | | | | You need an attorney who understands short sale. |
| Let's assume someone calls from your pre-foreclosure | | | | Many real estate attorneys do not understand short |
| direct mailing and you got into the short sale process, | | | | sale or pre-foreclosure investing. Lucky you, most |
| what would be the next thing you would want to do? | | | | attorneys that you would find in a real estate or |
| Double, or even triple, your chances of closing, right? | | | | pre-foreclosure investment group would understand |
| How do you get this baby out of pre-foreclosure? | | | | short sale or pre-foreclosure investing. Most |
| Here are some powerful tips on how to boost your | | | | importantly, they need to understand creative real |
| chances of closing ever on your short sale and | | | | estate investing. |
| -pre-foreclosure investments. | | | | You also need a title agency and as discussed earlier, |
| 1. Join Your Local Real Estate or Pre-Foreclosure | | | | get those who are members of you creative real |
| Investment Group | | | | estate investment group. Get them to refer you a |
| Go ahead to Google and research a local real estate | | | | savvy mortgage loan officer. Preferably, make sure |
| investment group by simply searching the phrase. | | | | they invest in pre-foreclosure too. If they don't they |
| There is no amount of books that can teach you the | | | | have clients in pre-foreclosure to refer. |
| street smart strategies that you are going to need to | | | | This part of your short sale business is crucial. They |
| survive the pre-foreclosure investment business or any | | | | don't work for you but they work with you in order to |
| other kind of business for that matter. You can usually | | | | close every short sale deal that come on their desk. |
| join for free or a little fee. You will learn a lot by just | | | | They often find solutions rather than saying no. They |
| simply being around successful people or people that | | | | are business men and not employees. They are |
| aspire to be successful like you. | | | | accessible at all time by phone or e-mail. This is a |
| It is amazing how many people out there trying to start | | | | delicate one for your pre-foreclosure investment |
| short sale or pre-foreclosure investing without | | | | business and it can make the different between |
| networking. Networking is part of leverage that you will | | | | success and failure. |
| need in your short sale investing business. There is a | | | | 3. Consistent Marketing |
| better chance of learning with from an actual short | | | | Of course, you will be marketing your service to a |
| sale expert than just reading a bunch of short sale | | | | pre-foreclosure mailing list. Do not quit after sending |
| theories combined by a mortal or opinionated human | | | | after one direct mail--this should probably sound familiar |
| like you. Do not get me wrong, you will need to | | | | to some people. The worst thing that can happen to a |
| educate yourself on many of the short sale theories. | | | | new pre-foreclosure business is to close down after 2 |
| There are several factors to consider in selecting a | | | | or 3 mailings because there are no calls. |
| short sale or investment group to join. Choose the | | | | The rule of thumb is to mail for 5 years, every other |
| ones that have meetings at least once a month, and | | | | week before complaining. This literally means you |
| ask whoever you speak to if there are short sale | | | | should never quit. And don't worry; it won't be five |
| experts among the group. You are asking this | | | | years before you start getting calls from |
| because at the group meetings, you will find people | | | | pre-foreclosure potential clients. |
| always having conversations about short sale. | | | | We all pray that the world economy will get back on |
| Make sure that they have an online forum like on | | | | its feet. However, there will always be house in |
| yahoo group. This is the 21st century and you need as | | | | pre-foreclosure since there will always be misfortunes |
| much information flying around every second and you | | | | in life. |
| don't want any of it to pass you bye. There are | | | | The key to a successful pre-foreclosure listing direct |
| consistent changes in the short sale processes and | | | | mailing is consistency. It can't be stressed enough. |
| rules with the banks at all times. The group may even | | | | After all, you can control and tweak your budget to |
| have pre-foreclosure listings services or even for free. | | | | whatever is comfortable for every other week; and |
| Also make sure the group has a solid track record of | | | | pausing periodically is not an option either. Your |
| bringing speakers and education investors. If you | | | | pre-foreclosure direct mailing has to be periodically |
| cannot seem to anyone by phone in a timely manner, | | | | steady. |
| dump that off your list and call the next contact until | | | | Ok, so these may not be all you need for short sale |
| you find a better one. You might want to direct mail | | | | business success. But then, these are the top 3 |
| one of your pre-foreclosure letter to their address. The | | | | reasons why many short sale businesses failed even |
| building may be in pre foreclosure | | | | before starting. These gives you an idea of what to |
| There are usually about 3 or 4 with good track | | | | watch out for if you are getting lazy already or if you |
| records within 50 miles radius from anywhere you are | | | | are a new short sale or pre-foreclosure investor. |
| located if you are in the United States. Be very picky | | | | |