In the last four to five years the mortgage industry has done a phenomenal job removing a huge percentage of the equity from the American housing market and converted it into three things. Vast amounts of cash, a huge quantity of very poorly underwritten loans and an enormous number of relatively worthless homes with negative equity.
Here lies the gold. It is waiting for you to stake your claim and start to mine it. These "worthless" homes that everyone is complaining, about represent an amazing opportunity for the well educated foreclosure investor. The owners can't wait to get rid of them. They will literally give them to you for the asking. The thing is you don't want them at the current value of the existing loans.
Quite frankly, the banks don't want them either. So how can you turn this lemon into lemonade? The method is called the "Short Sale".
Although banks have been open to short sales for years it is only since the real estate "bubble" popped that the process has become common knowledge. Before that it was the secret of a few select and very savvy real estate investors.
These investors were able to go about their work well under the radar. They contracted for homes with little or no equity and through short sales created one home run after another. You can do the same thing today.
Using a solid short sale strategy you can take a home that has thousands of dollars of negative equity and turn it into a deal with tens of thousands of dollars of profit.
Learn more tomorrow.
Yours in Success
Dick Weiss
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