I've seen the same house that just sold for $60,000 on a short sale, turn around and, in no time flat, it's being sold for $80,000, $90,000, even $120,000.
Cleveland, OH (PRWEB) March 22, 2008
With record level foreclosures sweeping the nation, there's never been a better time in history for real estate investors. Specifically, there is a tremendous surplus of homes being returned back to the bank, causing what the media is calling a "mortgage meltdown."
A highly unknown option that helps all parties involved is the short sale. This is where the banks agrees to takes less than what's owed on a mortgage that is in default. Here's how a short sale creates a win-win-win opportunity for all parties involved.
The bank wins when taking a discount on the mortgage rather than spending months being trapped in the foreclosure process. The homeowner wins as they get to escape from under a house they can no longer afford. Lastly, the investor wins as he's able to sell the house and make a profit.
Josh Cantwell, co-author of the Short Sale Manifesto, explains, "I've seen the same house that just sold for $60,000 on a short sale, turn around and, in no time flat, it's being sold for $80,000, $90,000, even $120,000."
However, working with the bank to complete a successful short sale is not as easy as it sounds and can be rather difficult if you don't know what you're doing.
Cantwell's partner and co-author, Greg Clement comments, "You've got to do it right to get those kind of results. The fact is there've been a lot of people who think they've figured short sales out and got burned. Sometimes I think the banks can smell someone who doesn't know what they're doing from a mile away. And those people are toast if the bank knows it."
With the release of the Short Sale Manifesto, investors will be able to see how Josh and Greg have been able to complete successful short sales across the nation, even in troubled times.
These ideas and strategies have only been shared with a handful of people until now. The new report called the Short Sale Manifesto can be downloaded entirely for free at http://www.shortsalemanifesto.com.