Gabe & Geoff
OC Short Sale Guys
http://www.ocshortsaleguys.com
Tuesday, October 20, 2009
What is a Short Sale - Video Blog
What is a "Short Sale"? We get this question a lot from friends and business associates.
Gabe of the OC Short Sale Guys defines the term short sale and discusses when the OC Short Sale Guys help homeowners in the foreclosure process.
Thursday, October 8, 2009
Short Sales - A Method of Aquiring Real Estate with No Money or No Credit
"I hear a lot about short sales, so why are you guys buying short sales as real estate investors?"
There are many ways to aquire properties: probate, foreclosure auctions, hire a realtor, subject-to, etc.
Some require your money, some don't. Some require your credit for a loan, some don't.
To buy short sale properties it is possible do this using none of your money and none of your own credit AND you don't even have to be a licensed real estate agent. WHOA... Did you see what I just wrote? "So I can buy and sell real estate without using my own money or credit?"
The way we make our money in a short sale is that we buy low and sell low. This is basically exactly what Costco does with a commodity like toilet paper. They buy a lot of it at a discount and are in turn able to sell it at a discount. We do the same thing with houses. We buy low and sell low.
The upside is that we have very low overhead and our only expenses are our time and notary fees when get pre-foreclosure properties. Also, you don't even have to have a real estate liscense.
The downside is that we have a 1:3 closing ratio so if a lender is unwilling to negotiate with us, we will have done a lot of work for nothing. Lately though we have developed another strategy which involves processing and listing the property with a real estate agent which increases our closing ratio.
Here in Orange County California there are unfortunately a lot of homeowners who are behind on their mortgage payments and/or owe more to the bank that what the home is currently worth. A short sale is one option for this homeowner and is a better option than foreclosure.
If you'd like to learn more about the short sales process and how to find short sales you can watch a video we've created.
Thanks!
Gabe & Geoff
OC Short Sale Guys
There are many ways to aquire properties: probate, foreclosure auctions, hire a realtor, subject-to, etc.
Some require your money, some don't. Some require your credit for a loan, some don't.
To buy short sale properties it is possible do this using none of your money and none of your own credit AND you don't even have to be a licensed real estate agent. WHOA... Did you see what I just wrote? "So I can buy and sell real estate without using my own money or credit?"
The way we make our money in a short sale is that we buy low and sell low. This is basically exactly what Costco does with a commodity like toilet paper. They buy a lot of it at a discount and are in turn able to sell it at a discount. We do the same thing with houses. We buy low and sell low.
The upside is that we have very low overhead and our only expenses are our time and notary fees when get pre-foreclosure properties. Also, you don't even have to have a real estate liscense.
The downside is that we have a 1:3 closing ratio so if a lender is unwilling to negotiate with us, we will have done a lot of work for nothing. Lately though we have developed another strategy which involves processing and listing the property with a real estate agent which increases our closing ratio.
Here in Orange County California there are unfortunately a lot of homeowners who are behind on their mortgage payments and/or owe more to the bank that what the home is currently worth. A short sale is one option for this homeowner and is a better option than foreclosure.
If you'd like to learn more about the short sales process and how to find short sales you can watch a video we've created.
Thanks!
Gabe & Geoff
OC Short Sale Guys
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Tuesday, October 6, 2009
Mortgage Brokers and Loan Mod Companies partnering with OC Short Sale Guys
We've been partnering with a number of Mortgage Brokers and Loan Mod Companies lately on short sales both here in Orange County and out of state.
The reason why they want to work with us is that many mortgage brokers are unable to refinance their clients and many loan mod companies are sometimes unable to help the client get the terms they desire. This produces an unfavorable situtation because these companies are 1) unable to help their clients and 2) are leaving potential revenue on the table.
Since we provide another solution for homeowners we are able to 1) help the homeowners and 2) pay mortgage brokers and loan modification companies referral fees for business they send our way.
For every property that is referred to us that we are able to successfully negotiate the short sale and purchase from the bank we pay $1000 at close of escrow.
We've also found a lot of short sales lately through word of mouth. Many people are unfamiliar with the term 'short sale' and what type of situation it applies to. We usually direct them toward this free short sales training video we've created in order to educate them on what to look for and how to talk to homeowners.
Best regards,
Gabe and Geoff
OC Short Sale Guys
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