The bank is going to order a Broker’s Price Opinion or an Appraisal on the property to help them determine the current market value. The lower this value the better for your short sale negotiation. Continue reading Using Comparable Sales To Help Justify Your Short Sale
All posts by Duncan Wierman
Instruction Letter To Seller
The following cover letter comes from my short sale system which automates the entire short sale process. With this system you can literally complete an entire short sale package to a lender in under 5 minutes.
The following letter can be used when working with sellers as a way to get all of the information needed to start the short sale without having to actually meet the seller in person. My personal choice is to have a phone conversation with the seller then let them know I will send over all the paperwork by email or fax. This is the most efficient way to do short sales.
Borrower’s Financial Statement
Lenders require a Financial Statement be submitted with short sale packages to show the borrower is financially unable to pay on the loan. Always ask the seller to complete the financial statement to the best of their ability.
What Is A Deficiency Judgment?
A deficiency judgment is a judgment lien against a debtor, defendant or borrower whose foreclosure sale did not produce sufficient funds to pay the mortgage in full. This option may or may not be available to the lender, depending on whether they have made a recourse or non recourse loan.
The fuller, statutory definition as defined by New York is: “the whole residue, or so much thereof as the court may determine to be just and equitable, of the debt remaining unsatisfied, after a sale of the mortgaged property and the application of the proceeds, pursuant to the directions contained in such judgment, the amount thereof to be determined by the court as herein provided.
How to Use A Land Trust to Flip Property
Banks as matter of course, won’t let you “tie up” a great deal and flip it to another investor. However, there is a work around for that! Continue reading How to Use A Land Trust to Flip Property
How Do You Know What To Offer On A Property
How To Determine Your Maximum Offer
If you are going to be assigning your contracts, you need to ensure a good margin for your AS IS Cash Wholesale Buyer to Buy! Here’s the formula I use for single family homes:
The Maximum Offer (MO) is calculated by first determining what the house will be worth after renovation which is referred to as the After Repaired Value (ARV); less the rehab dollars required; less the Buy/Sell/Hold (B/S/H) costs; less profit amount desired
Continue reading How Do You Know What To Offer On A Property
Flipping Deals With Transactional Funding
Great news! You can make offers with confidence using a FREE Proof of Funds from:
Just complete the form and you will be given a POF immediately to send out with your offers!
Joint Venture Faciliation – Lazy Way to Real Estate Wealth
A great way to purchase properties with no money down is to enter into a joint venture agreement with another investor. When I first started investing , I did not know where to find hard many lenders or private investors. So what I did was look for investors who wanted to partner with me on a property, then when the property sold, the profit was split 50-50. In this scenario, my job was to locate the property, supervise the renovation, and find a buyer for it. My partner’s job was to put up the money for the purchase and for all repairs.
Continue reading Joint Venture Faciliation – Lazy Way to Real Estate Wealth
Fast Start Wholesaling for Quick Cash
What you are going to read below is totally different from everything you have every learned about wholesaling. I will teach you how to do this methods of real estate investing totally different from any other guru. None of the techniques require ANY money, credit , or experience. So if you find yourself in one of the categories below :
* You are already a traditional investor who owns at least 1 rental property
* You have ordered at least 1 other course but haven’t gotten started yet
* You are actively involved in real estate and have studied many courses
* You know absolutely nothing about real estate
This wholesaling course is designed for ALL of you. I cater to those who know absolutely nothing about this business. All you need is the information in this Course (and the appropriate included contracts) to make more money than you’ve ever dreamed possible! Are you ready to change your life? Let’s get started!
Continue reading Fast Start Wholesaling for Quick Cash
Making an Offer on an REO
The secret formula that works! Continue reading Making an Offer on an REO
Real Estate Investing Business Process Maps and Checklists
Below are the complete business process maps and checklists you need to strategically plan your steps. No stone is left unturned. These checklist will make sure you dont miss a trick , a step or make a mistake. Continue reading Real Estate Investing Business Process Maps and Checklists
How To Sell Your Houses Super Fast
Finding Unlimited Sources Of Hungry Buyers With Money!
What I am going to teach you now will ensure that you will never have to worry about finding hungry buyers again. It will not matter what niche of real estate investing. Using the techniques I will teach you, will be constantly inundated with buyers – and you can do this for next to nothing!
I want to talk first about the attitude you want to approach every situation with. You must always create a win/win/win relationship by helping the buyer AND the seller make money.