I believe short sales will be going strong for the next six
months until this program can kick in. Picking them up for
50 cents on the dollar should be no problem.
Once the program kicks in (if it does), then I think we will
be looking at 60-70 cents on the dollar.
I had one guy approach me this evening wanting to use
our 1% funds (plus a $350 fee) on what he said was a
short sale. He could buy for $350k and sell for $360K!
To me that was not a short sale! I told him to keep looking.
Our typical deals working with this special funder go something
like this:
You line up a prequalified buyer to purchase from you and this
funder provides you with the Proof of Funds and the Cash to buy
the short sale from the Bank.
Cost of Funds is 1% plus $300 flat fee, all paid from your
profits at your end buyer's closing.
Example:
You buy a home worth $200,000 in a short sale for $100,000 and
resale for $150,000.
You keep $50,000 minus 1% (1,000+$300 flat fee).
Your profit is $48,700, not bad considering they don't even
look at your credit!
I think he got the message and is looking for a real deal.
Larry Potter
847-872-4047
http://www.FundsForShortSales.com
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