'The ultimate book on short sales! Dwan and Sharon have made it easy for you to profit in today's gold mine of foreclosure opportunities' - Robert Shemin, "New York Times" bestselling author of "How Come That Idiot's Rich and I'm Not?". 'Having invented new real estate markets for over twenty years, I can strongly recommend Dwan and Sharon's book. This dynamic duo invented the short-sale market - nobodyknows more!' - Frank McKinney, international bestselling author and real estate 'artist'. 'As a national speaker and teacher for over twenty-five years, I've never met anyone who knows more about short sales than Dwan and Sharon. I've spoken to hundreds of their students who have earned tremendous profits. You could be their next success story!' - Nick Sidoti, a.k.a. Dr. Cashflow. Make a fortune in pre-foreclosures with help from the queen of the short sale.Millions of distressed homeowners are in danger of foreclosure, but can't sell their homes and walk away because their property is worth less than the mortgage. Banks don't want to foreclose because the process is so expensive and time-consuming. The solution is a short sale - the process by which an investor buys the troubled property from the homeowner at a price far below the outstanding mortgage and the bank takes a write-off. Real estate investor Dwan Bent-Twyford and her students have made millions with short sales - while helping homeowners prevent foreclosure. Finally, here's a single resource that tells you everything you need to know to get into this high-profit game: find 'underwater' properties and pre-foreclosures; approach distressed homeowners facing foreclosure; prepare an offer that helps you and the homeowner; negotiate with banks and mortgage holders; and, earn big profits through wholesaling, rehabbing, or renting.
Chapter 1. Get Motivated, Set Goals, Get Started.A Short Sale Case Study-with a $200,000 Profit.Getting Motivated.Setting Goals.Accomplishing Your Goals.This Is A Business...Not A Hobby.Dealing With Naysayers.Personal Appearance.Setting Up Your Office.Structuring Your Business.Ready To Do Business.Chapter 2. What Is A Short Sale? An Executive Summary of How to Negotiate With the Bank and the Homeowner.Why Do I Need To Short Sale?Why Do Banks Short Sale?How Much Do You Offer The Bank?Successful Short Sales Start With The Homeowner.Financial Agreement With The Homeowners.Setting The Move Out Date.Chapter 3. Expert Strategies for FINDING Distressed Properties and Foreclosures.Buying Bank-Owned Properties For Pennies On The Dollar.Newspaper Ads."I Buy Houses For Cash" Street Signs.Networking.Post Cards.Magnetic Vehicle Signs.Bail Bondsmen.Pawn Shops.More Deal Finding Favorites.Chapter 4. How To Approach The Homeowners And Create A Win-Win Solution.Understanding Why Homeowners Want To Work With You.Building Courage To Knock On Doors.Friendly Negotiations With The Homeowners - What To Say And What You Need From Them.Establishing Rapport Over The Phone.Door Knock Like A Pro.Helping The Homeowners Understand Their Options.Deed In Lieu of Foreclosure.Chapter 13 Bankruptcy.Chapter 5. Preparing Your First OfferAuthorization To Release Information.Going To Contract.Hardship Letter.Pictures.Investor Cover Letter.Comps That Justify Your Offer.Net Sheet.Estimated List And Cost Of Repairs.Chapter 6. How To Approach The Bank.How To Get The Bank Interested In Talking To You.What The Bank Wants From An Investor.How To Get Through To A Stonewalling Lender.Presenting Your Short Sale Offer To The Bank.Additional Information The Bank May Require.Hardship Package.Listing Agreement.My Offer Is Submitted, Now What?Chapter 7. Negotiating With A Second Or Third Mortgage Holder.Your Conversation With The Second Lender.Chapter 8. Key Elements Of The Legal Process You Must Understand.Understanding Ownership Vs. Debt.Foreclosure Process.Trustee Sale.Deed Of Trust States And Mortgage States.Types Of Liens.Types Of Mortgages And Loans.Chapter 9. When The Bank Says Yes.How Does The Homeowner Buy More Time?Chapter 10. Three Profit-Taking Strategies: Wholesaling, Rehabbing, And Renting.The Wholesale Path.The Rehab Path.Selling The Home.The Rental Path.Chapter 11. Setting The Closing Date And Making Sure The Closing Goes Smoothly.A Successful Closing.What If My Homeowners Change Their Minds?What If My Buyers Change Their Minds?Closing With The Assignment Of Contract.Double Or Simultaneous Closings.Are Double Closings Illegal?Chapter 12. First Year Expectations.How You Can Become Rich Without Going To College.What We Did To Get Here.What You Can Expect In Your First Year.Thinking Like A Millionaire.
