The leading short sale and pre-foreclosure expert Nation wide is Jeff Kaller. His students have really done well in our Michigan Market. If they do well in Michigan depress real estate market you know Jeff Kaller is doing a great job of teaching the short sale business.   This is one of his articles for your reading. You can find great value from his workshops and his free reports and CD’s:

Preforeclosure Training and Information Perspective

by: Jeff Kaller Republished by Ralph Mark Maupin 

 Trying to find a great deal in real estate, even if the market is attractive and competitive it only means bargains do exist. In comparison to most financial portfolios where there's simply too much risk, real estate is still the most attractive path.

 Fundamentally the sure way to find a great real estate deal is to identify a motivated seller in the right market.  No doubt a preforeclosure purchase can be a great way to save money on buying a home or investing in real estate.  

There are numerous seminars and how-to books that promise to turn even the most raw naïve buyer into a high-powered real-estate investor through the magic of preforeclosed homes. The problem is that instant, no risk, no-strings attached wealth often turns out to be like most things that sound too good to be true…not true! If it were easy money, everyone would be getting rich off of preforeclosures.

Word to the wise, if you are not armed with the latest preforeclosure information and techniques, it is quite possible the investor will become overwhelmed and possibly drown in a sea of financial losses.

 It’s important to understand that even in a distressed market like today, motivated sellers are aren’t going to magically appear and speak directly saying, “I need to sell my house to you and you only.” 

With more than 1.2 million foreclosure, preforeclosure, bankruptcy, FSBO and tax lien listings, it’s important for training in the analysis and search of large and complex databases of foreclosed homes and investment property information. Being able to identify opportunities while researching top lending institutions and government agencies Real Estate Owned; Department of Housing and Urban Development, Department of Veterans Affairs, Fannie Mae, and other government agency and financial institution properties is essential.

A trained investor will know the plus and minuses of private deal "buying equity," i.e. investors pay the owner a fee and then take over the existing debt and the home. This protects the homeowner's credit report from the black mark of foreclosure.

As well knowing that buying equity this way is difficult in a seller's market because the owner could just as easily sell the home and usually pocket a greater amount in appreciation than an investor would be willing to pay.

Buying during the foreclosure period is one of the best ways for anyone to get involved in real estate investing. With a small investment and some specialized knowledge an investor can buy a house at a substantial discount and resell it retail gain up to 15% - 20% profit in the process.

 Editorial by Mr. Jeff Kaller.  Jeff is Mr. PreForeclosure, he provides investors with step-by-step instruction needed to make a fortune in Pre-Foreclosures.