How to Get your Low offer accepted by a short sale bank!

Want to know a secret to justifying a low offer???

Has anybody found any good deals on the MLS lately?   I know I haven’t, in fact I’ve entirely given up on the idea of finding a good deal on the MLS.  Every time I submit an offer on what is a good deal, there are 15 more offers you have to compete with.  I hate competition.

I like to create my own deals and be in full control over them.  This is why I turned to short sales.

Short Sales are a great way to get homes at a huge discount from the lender before they foreclose.  I am in full control over the property and I don’t have to worry about 15 other investors competing with me on 1 deal.  I have the power to purchase the property at the lowest price possible and not have to worry about coming up  on price.  This is how I’m able to get my deals at such a huge discount.

Here is a little secret.  I also like to give the lender a NET offer.  This is another way I can get the property as cheap as possible.  In a standard real estate transaction you have 2 realtors, closing costs for buyer and seller.

In our transactions we are cash so we have no closing costs, plus we may or may not have a realtor involved.  If we have no realtor involved we can get the property much cheaper.  If we have a realtor involved we only have to worry about 1 commission on the deal instead of two commissions. Now, we prefer to use a realtor because it makes our lives easier.  But let me show you an example of how we can buy a property at a bigger discount creating our own deal:

 

Standard MLS Transaction

Purchase  Price: $150,000

Commissions  6% = 9,000

Closing  Costs Seller= $1500

Closing  Costs Buyer = $6000

NET  to Bank=$133,500

 

So on a home listed on the MLS, a buyer would pay $150,000 and we could pay $133,500 or less.  I say less because if you know who the investor is or the type of loan you are working with, you will know what the discount the bank is willing to take.   And if you know what the discount is off of the appraised value, then you will know what the NET to the bank needs to be.

I am going to be teaching you how to set up your own DONE for YOU short sale system the way I have created mine on Saturday.  You  will be amazed at the deals that I am getting.   My profits on a fix and flip usually range from $20,000-$40,000.  I know a lot of my friends are struggling to make any money doing fix and flips because there are no deals at the moment.  You don’t have to struggle anymore and you can make a profit with this business.