Working Short Sales - eMyth Style

[Scott Avidon]

I am a new investor and have come across another situation.

Preforeclosures. They're all over the place, especially here in Florida. It's fair to assume that I would want my company in on the action. So we set up a direct mail campaign to do just that. I have learned that 80 to 90% of the deals that come through will end up in a short sale.

I understand that short sales can be a long process and those that work them will often times have upwards of 50 working at any one time. While I can see that they can potentially be profitable, I have ZERO interest in working these sales myself. I simply don't/won't have the time.

How is the process of outsourcing this stage of acquisition typically done? I currently work with Realtors but feel that I need my Realtor focused on what they do best, and that's marketing! So where do I start prospecting for someone to work these deals for me? Real Estate Attorney? Tittle Company? How are the deals with the team members usually cut?

Thanks in advanced for any input!

[Account Closed]

Your best bet might be to put up an ad on Craigstlist and the various job websites to hire someone at $10/hr or so, or a piece of your profit on any deal they work up and you are able to close. Sell it as work from home, flexible hours, etc. and I bet you'd find some takers.

Alternatively, I'd be happy to help at my standard hourly rate of $250/hr :) ... i.e. it's not going to be cost-effective to pay a professional to handle this for you.