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Aug
24
Written by:
David "The Diamond" Oswald
8/24/2010 1:43 PM
What do you do if you have some money that you want to invest in real estate, or you know that you have good credit and would be able to get a loan on an investment property, but you really don't want to pay the usual asking price for a house in the current housing environment? There is a way that you can buy a house for less than the usual price, but without being involved with a foreclosure auction, which can have drawbacks. After all, we have all heard about foreclosures where the house is trashed by the angry ex-owner on being evicted, and an auction on the courthouse steps can be intimidating, not to mention the problem that you have to pay up in cash immediately.
The alternative to buying at foreclosure if you want to buy a house at a bargain price is called a short sale, and it happens at the pre-foreclosure stage, before the owners have been thrown out. If you do not know much about the process, it can be very helpful to find a mentor to walk you through it once or twice.
If you know what you're doing, then the process is quite simple. You simply find a house which is going into foreclosure, where the owner is upside down on his mortgage, which means that he owes more than the house is worth. Because the home still has a mortgage secured on it, you need to deal with the lender as well as the owner to make the short sale purchase work.
You then go through a process of negotiation to arrive at a price that is less than the outstanding debt, but acceptable to the lender to release the lien against the house. This can take a while, and you need to know or find out what to do at each stage in the process. However, with the assistance of a short sale mentor, you will find that you are able to pick up an investment property with relative ease at a bargain price. The market has never been better for finding many choices of houses suitable for a short sale.
Til Next time,
David Oswald
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Short That Sale When the Market’s Stale - QuickStart Audio CD
We breakdown the essence of creative real estate investing into less than one hour so that you can get started today in a field that has created more millionaires than any other. Buy it NOW if you want to create real FREEDOM and real MONEY in your life!
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4 CD and/or 4 DVD Set – Short That Sale When the Market’s Stale
We give you all the essentials that you will need to take the first steps in the hottest aspect in all of real estate – short sales! By the time you devour this 4 DVD (or 4 CD) Set, you will have enough information to go out and put a property under contract, control it with as little as one dollar and get a short sale negotiated at your price. Remember, it’s Your Price, Your Way!
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Workbook – Short That Sale When the Market’s Stale
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eBook - "101 Ways to Outsource Your Life and Business"
by David Oswald (Copyrighted 2007)
What is the one major roadblock in our lives as to why we don't move forward with our dreams? Many of us complain that we don't have the TIME. We at Rivers of Income understand where your coming from and to combat the dream stealers, our leader and CEO David Oswald has come up with the solution in "101 Ways to Outsource Your Life and Business," the top ebook available on creating time. This publication offers a variety of different ways to eliminate the minimum wage work in our lives that constantly keeps us away from doing the things that really matter. Taking just one idea from this book can create hours per week in your hectic life. We get it, that's why we give back to you. Remember, it's Your World, Your Way!
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