First let me start by saying I have NEVER done a short sale in my life. However, in my marketing I have come across 2 of them in the last 2 weeks. Go figure. I am swamped with wholesale deals. I have 14 deals I am working on including 4 contracts, and 2 shortsales. Not to mention I have 18 deals in my inbox that I just haven't had time to get to (It's already 10:30pm here).
Yesterday I marketed for a shortsale expert. Today 2 called. One was an agent who does nothing but shortsales, he has a team including negotiating attorney's. Pretty cool, I can't wait to use him when we're marching fulltime on shortsales. The other was a wholesaler I have talked to already.
Andre was glad to explain the process to me. I explained to him I have too many wholesale deals and no time to learn shortsales or mess with banks. I asked if he would like to partner on my shortsales. After talking a bit we decided I would act as his bird dog for shortsales. He has done multiple shortsales and does this business full time. He is tossing me some cash for these leads when they close. Now when a shortsale opportunity comes in I can provide the service to my seller/customers through Andre. He does all the work and I still get paid. This is pretty damn cool.
I sent my first lead to him tonight. After calling the woman I found out some interesting details.
It has a renter that is section 8.
Renter has never missed and has awesome history.
$1000 a month rent.
Perfect property.
Mortgage is with Chase.
It's with an agent.
At first I was unsure about what to think about an agent being involved. As luck would have it she has already done the work and just needs an offer. Plus she had more info than the seller did. I passed this to my new shortsale expert. He has a buyer already. I'll have cash in no time. All I did was make a call.
Added bonus. I now have an agent who is EXCITED to work with me. She has a ton of investor friends and has already put me in contact with them. She has 32 years of experience as well. She also called me at 7:30 at night, so I know she is motivated and nothing slows her down.
It's awesome. That's just one call I made today not to mention all the other calls. There is just too much to write about. My voicemail was full. I had to listen to some so I could delete them and make room for more deals coming in. Things are popping. 14 deals being analyzed and 18 more in my inbox that haven't been looked at yet. 2 shortsales, and 4 contracts getting ready to pop.
Own Your Situation,
Ben
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