All Forum Posts by: Monica Breckenridge

Hey Mike,

Short Sales is my specialty. There are many different ways to find short sale leads. For me I find the best is through marketing Avoid Foreclosure. Here are some options for paid marketing:
1. Bandit signs
2. Mailing the foreclosure list (I use Renav.com for finding my distressed leads in Colorado. Use the discount code PINK) You can find people in foreclosure by searching for the list in your county. I live in El Paso County Colorado Springs so my website to find the foreclosure leads is www.Elpasopublictrustee.com. The list is usually free.
3. Website- you should have a website to generate leads geared for short sales

Free Marketing:
1. Doorknocking the foreclosure list
2. Finding realtors who don't like short sales to bring you leads
3. Blogging on short sales
4. Posting U tube video's and making a u tube education channel in your area as the go to short sale specialist

I would not recommend anybody realtor or investor doing short sale flipping, meaning having an end buyer lined up for immediate re-sale. This was a thing of the past, but chances of getting this to go through now is almost zero. The banks caught on to the trend and now have ani-flip affidavits, arms length transactions that they want you to sign. In these forms you state that you don't have an end buyer lined up and sometimes they put a seasoning clause in that states you must own the property for 30-90 days before you can resell the property.

In Colorado these transactions are also now illegal if the Colorado Foreclosure Protection Act applies. You must be on title for 14 days before you can resell the property unless full disclosure is given to the lender of a subsequent sale.

I would recommend that you buy these properties with the following exit strategies:
1. Fix and Flip
2. Buy and Hold
3. or do no fix up and sell as is, but make sure you sell after the period the date specified and I would bare minim wait 30 days before reselling

The bank's have considered short sale flipping to be fraudulent transactions and if you fail to disclose them to the bank they can seek legal action. I would not want to be involved in that.