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Category: Current Grade: B Total Views: 256 Member Comments: 1 |
Posted on: 08/19/2010 Posted by: opmcapinvest Blog Points: 144 View all blogs >> |
Hey Real Estate World:
Today, I had my first conversation with a motivated seller, and the funny thing about it was I wasn't even looking. I was just in a conversation, I mentioned that I was getting into real estate, them bam! This women starts laying out her situation, I've included it below because I posted this on a forum, and I'm waiting for some feedback; so I'll just call this:
Case Scenerio 1:
I ran across a women that, on a scale from 1-10, is at an 8.5 as far being motivated to sell. Here's the situation. She owes more on her house than what its worth (I explained to her that I would be willing to take the house off her hands, but it would be at a significant discount) she applied for a modification, but has been turned down, she is CURRENT on her mortgage for now. My questions because I am new to this are:
1) Is there a deal to be structured from this, and if so how?
2) Is this when she should be looking into a short sale, if so does she do it or is this my position to try and assist to make sure I get the deal?
3) Should she stop trying to keep up with the mortgage and let it go into pre-foreclosure and then I go after the deal?
4) Is there a way to do a subject to/lease option?
I'm slowly but surely learning, that MARKETING, MARKETING, MARKETING... is going to be the key to my sucess!


Why the heck did someone give you an "F"? What's up with that??? Have an "A" from me on taking the steps you need to take on your journey.
If you know a Realtor who specializes in short sales, then make the introducions, but be preparred to wait for this to happen. The bank like to deal with Realtors who know how to do short sales. Unless you are very smooth, and know exactly what to do, I'd use the Realtor for the short sale for sure.