Posted in Cash Flow is King, Foreclosures, Pre-foreclosures, Real Estate, Real Estate Investing, Real Estate Investments, Selling, Short Sales, cash flow, credit crisis on May 20th, 2009 6 Comments »
The investors in this story did everything right. They cannot be blamed for the situation they are in now. Especially when they asked for help before their problems started and offered less costly solutions to their lenders afterward.
We have lost a bunch of banks now, along with tons of jbos. Those banks and jobs might still be around if they had only been willing to work with homeowners.
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Cash Flow is King!
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Initiation of the foreclosure process by your lender is not the end of the world. By availing the services of an experienced loss mitigation company or a mitigation counselor, you might learn of other alternatives, which could help you hold onto your home as well as pacify your lender and convince him to agree to an alternate repayment plan.
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Your overall profit margins are going to depend on several factors. To be a successful real estate investor, you must formulate suitable exit strategies in line with your individual situation and liking before you even step in to the real estate investment arena.
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A short sale basically means convincing the bank to accept a value which is less than what the homeowner owes while at the same time convincing the homeowner that you have come to save him from the bank, which could repossess their home due to non-payment of the mortgage. Knowing how to the process works will lead to big profits.
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Short sale real estate investing is an excellent skill to develop. It provides for win-win-win deals – the homeowner is freed from making future mortgage payments on a house they can’t afford, the bank avoids the foreclosure process, which could be a time-consuming and costly process, and you stand to make a healthy profit solving both of these issues.
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