10.21.08

Real Estate Short Sales, The Complete Process In Detail

Posted in Short Sales at 4:18 pm by Bill Crosby

As promised, in these next 6 newsletters, I’ll be sharing with you an illustration of what I do to make thousands of dollars a month in pre-foreclosure real estate—using none of my own money, credit or assets. And how you can do this too. This material is taken straight from the A-Z system I work every week. But before we get into the ‘How To’s’ of Short Sales, let me tell you a little about myself and how I came to using a simple, streamlined, nearly automated system to more than quadruple my monthly income. And bear with me, this letter to you is about two pages, but it’s a quick read.

When I first started investing in real estate I wanted to learn a technique that would work no matter what the market was doing—going up, down or sideways. I realized that in order to have a system that did this, it would need to focus on “Snap Shot” deals—deals that would come together in a moment, close as quickly and leave me free of any burdens. And when done, I would need to walk away with an immediate profit.

I wanted a system that generated CA$H instantly, every time. Since I didn’t’ really know what I was doing, I also wanted something with no risk, that required none of my own money. Essentially, the only thing I would lose if a deal went south, would be the little bit of time it took me to find and negotiate the deal.

After buying a number of systems, reading a ton of books, and suffering from a very bad case of “Analysis Paralysis,” I still couldn’t really work out how to get into the kind of snapshot deals I was looking for. What made it worse, was that all the books and systems I had purchased to show me how I might do deals, in every case, lacked very essential components—the exact steps to finding, opening and closing such deals. Where was Step 1? or 2? or 3? How do I take a deal from property to payday? They don’t show you and they don’t tell you.

Eventually, through much research and reading, I began piecing together knowledge of pre-foreclosure investing. It piqued my interest and I read on. Finally, learning that there would always be foreclosures, whether the market was going up or down, I chose this area of real estate to focus on. It appeared to have all of the characteristics I was looking for:

• Great deals could be done despite what the market was doing
• I could be in and out of a deal immediately
• They had a high profit margin if you knew how to put them together
• There would always be plenty of deals available

Like me, you probably grew up hearing people talk about ‘getting their piece of the pie,’ or ‘fighting for their piece of the pie.’ And that was once my mission: to get my own little piece of the pie. But what I came to realize through working this pre-foreclosure system, is that there is no need to fight for that little piece of the pie.

Why? Because with a fraction of the energy I spent on all that fighting and getting, I learned that I could simply bake my own pie. And that’s exactly what I started to do with pre-foreclosure real estate. This is possible too, because there is little to no competition in this unformalized area of real estate. On top of that, the more I did deals, the more I discovered how valuable my work was: homeowners love me for getting them out from under their upside-down property debt; banks, who may not admit it, would rather short sell to me than have the property go into foreclosure.

And the value of my work is reflected in the big checks I cash for helping out people, investors and banks. In fact, though I had heard people talk about how much these deals could net, I thought the amounts were over-exaggerated . . . until I did my first deal, which was a simple wholesale flip that took only a few hours to put together. ‘Holy Smoke,’ I remember thinking, ‘This is some freakin’ easy money. Where has this been all my hard working life? So this is what they mean by working smarter rather than harder.’ Of course such deals had always been there, but they were just invisible to me and just about everyone else. They still are.

Now, to make a long story short, I got to the point where I got comfortable making regular deals in Short Sales, Wholesales, and Subject To’s, which meant I was through 80% of the learning curve. And that meant that I could now focus on developing a streamlined system for these pre-foreclosure deals that would give me a high, continuing income, and free up even more of my time. As a former software engineer who specialized in creating efficient, effective, user-friendly systems, developing such a system for pre-foreclosure real estate, was a natural fit.

I originally designed the A-Z system to make my own life easier, but as my work began attracting other people who wanted to learn to make money in pre-foreclosures, I basically gave them my system and did a little coaching with them, until one of my student’s, who also had bought and tried some of the books or systems out there, said to me, “Bill, your system is way better than the other stuff out there. Have you ever thought of formalizing and selling it?”

I won’t lie, I had actually thought of doing something like that, but wasn’t sure if the system could work as well for others as it has for me. But after testing it out with more students, from all across the nation, whom I mentored, and getting their feedback on what worked for them and what didn’t, I began constructing and refining the system for ‘plug and play’ use in any real estate market or territory.

Am I selling the system? Yes, it is scheduled for publication December 2007, but is available for purchase as an e-book now, at the website link below. But, am I also giving it away? Yes, you will be receiving information, lessons and action steps taken directly from the system, so that you can start getting into pre-foreclosure real estate, without risking any of your own money, credit, or assets.

Thanks for taking the time to read this. I look forward to helping you along your own path to wealth and freedom.