SHORT SALES

Try typing in "Short Sales " in google. I guarantee something will come up. Also check at your local Courthouse, where they record the taxes and such. Most of it is also online. That seems to work.

trying to do? What do you mean you have been trying to look for short sales? Most homes that are in short sale status are listed with a Realtor.

I have been searching google, craigslist, etc. without any progress. So you're saying the only for me to find short sales are through a Realtor ?

-Gabriel Do Carmo

Are usually listed with realtors...sometimes people don't list their properties with realtors because they owe too much on it and feel like they can't do anything about it and end up in foreclosure. What they need to do is talk to their bank if they are behind on their payments and see if the bank will allow them to do a short sale. This will give them the time to find a buyer. I would check your real estate offices out, but be prepared there are usually a few offers in on them and they take awhile to find out if your offer will be accepted. You can also ask around, somebody might know someone that is falling behind on their mortgage payments, you could possibly work with them and their bank to do a short sale. Either way their will still be a waiting period.

We get our short sale leads for the counties we work, Every week we check for the notices of default that were issued. The first official notice from the county that the foreclosure process has started.
Most of these properties are in a short sale situation. Find out what they owe versus what their property is worth. There you go, hundreds of short sale leads every week!
Now a couple of questions for you. What do you intend to do when you locate a person that is willing to start the short sale process? Do you know what is required? Are you going to try this yourself or have you assembled a short sale team?

By the way, you must have proof of funds and earnest money to offer on short sales and transactional funds to double close if your strategy is th wholesale flip the short sales. Check my TF below website to get POF and funding.

Good Luck
Michael Mangham
MD Home Acquisitions LLC

http://www.mdtfcam.com Transactional fund site

http://www.mdhomeacquisitions.com Seller site
http://www.mdhomea.com Seller site
http://www.mdhacq.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird dog, door knocker site

Wow Michael, great deal of information. I just recently started Bird Dogging for an investor who is interested in luxury homes that are going into short sales. Therefore, I have been emailing realtors to see if they have any homes that fit that criteria, but I will also give that strategy a try.

Thanks again!
-Gabriel Do Carmo

Something sounds so, so,.......

Hello Gabriel,

A real estate agent will be able to pull short sales using the MLS.

Have a great day.

And what real estate agent is going to even entertain a minor's request for a printout of MLS listings??? They should have their license revoked for that action alone.

I applaud him for initiating his dreams, but at the same time, it seems really unsupervised what is going on. If his parents are at the forefront of every action then ok, but if not, it needs to stop and not be entertained further.

Yep, have agent send them to ya. I get a bunch sent to me daily.

If its good enough for Dean to start at 14 in cars and 17 in RE, why is it questionable for Gabriel to start at 16? I can think of a WHOLE slew of other things a 16 year old could get into that is much more destructive than RE. I applaud someone getting into this business at that age. Smart kid!

GOOD LUCK closing a short sale that a realtor supplies you! Find them yourself and have your short sale team (that work for/with you)do the negotiations. I have had no luck making short sale offers through realtors, most don't have a clue! I don't do them myself, way to time consuming, I have a great negotiator that gets things done, keeps track of where we are at in the short sale process(this is where most realtors fail)and lets me know when its time to make an offer OR not!
There are hundreds of unlisted short sales weekly that you can access, control and make offers on when the process is at the point where the lender will take an offer! Or you can let that realtor that happens to have a short sale listed and a pre determined price control your short sale destiny!!

Michael Mangham
MD home Acquisitions LLC

Get Transactional funding so you can wholesale flip short sales and REOs here:
http://www.mdtfcam.com

Zion Properties wrote:

If its good enough for Dean to start at 14 in cars and 17 in RE, why is it questionable for Gabriel to start at 16? I can think of a WHOLE slew of other things a 16 year old could get into that is much more destructive than RE. I applaud someone getting into this business at that age. Smart kid!

You're in your RE office and a teenager comes in and asks for your housing list.

A teenager. Are you going to just give it to them??? If his parents aren't agents or brokers and aren't thinking about buying, initially how can you expect someone to take him seriously???

I applaud his effots and I spoke with him about this and said to him to make sure his parents are completely behind 10000% everything he is doing and not allow anyone to take advantage of him.

be a 18 years old in every single state (there may be an exception in one or two) to enter into a contract. Period. The only way you are going to get agents to take you seriously is to get an adult to work with you.

This was my main argument on any agent or investor even speaking with a minor without the supervised presense of a parent onsite.

I wish I had started at 16!!!
Learn as much as you can now; when you turn 18 you'll be able to make all the deals!

Put up signs that you buy houses-people will come to you before they foreclose, then you can deal with the bank and get the short sale before it's advertised...

wishing you great success!