Isn’t it time you learned how to capitalize on one of the best markets for real estate investing that this country has ever seen? With the recent flood of foreclosures now is the time to learn to invest correctly in real estate from the hosts of the nation’s leading show on real estate investing, Judson and Lynn Voss. Visit http://www.yourrealestatefortunes.com and learn for free, the no-hype truth about choosing the right real estate investing strategy to start making you money, today.
You’ve found a great real estate investment to purchase, signed on with the homeowners and gotten all of your information in order. All that’s needed is to approach the bank with a short sale offer and close the deal right? Maybe not.
There is an art to negotiation in the real estate investment industry. Negotiating a short sale isn’t simply approaching the bank with your packet of paperwork and your best offer to close the deal.
You’ll need to endure at least two rounds of negotiation with the banks most of the time. So, don’t approach them with your final offer right off. It’s probably best if your first offer to the bank is a price that’s lower than what you are willing to pay.
Send a Cover Letter
Submit to the bank an offer cover letter filled will all of your points to justify the discounted offer you are making on the bank. The banks you usually end up negotiating with get tons of offers for their properties. This submitted cover letter helps you stand out and makes you look a little more professional as a real estate investor.
The cover letter can outline your interest in the property, certain negative aspects you’ve noticed to the default property and your first offer on the property. Don’t be afraid to make a low offer on the property when negotiating short sales. You can always up your offers, but you can never lower them. So, if you start out by giving them the most you are willing to pay for the foreclosure property you are interested in the bidding could quickly enter a price range you aren’t able to afford.
Make it Personal
Making more personal offers, such as using the cover letter submission, will get you into more negotiations with banks and help you close more deals. You’ll waste a lot of time if you go out make a 100 low ball offers in a very impersonal manner. It just won’t make real estate investment worth the time.
Instead, go out and find ten default properties that you are interested in and make more personalized offers on them. Put together a nice cover letter for each that outlines the points above and you’ll find that you enter more deal in less time. Less time spent means you are making more money for your effort and you are more likely to make that real estate deal.
- Related Videos
- Related Articles
- Ask / Related Q&A
- A 5-point Plan to Successful Real Estate Investing
- Real Estate Investing: The Three Levels of Success
- Three Ways To Make Money From Real Estate Investing
- Should You Go For Real Estate Investment Clubs?
- Short Sales: Perhaps The Faster Growing Topic In Real Estate Investing
- Short Sale Real Estate Investing
- The Rookies Guide to Real Estate Investing
- Five Key Principles To Real Estate Investment Riches
How to Choose the Most Profitable Fort Lauderdale Foreclosed Homes
By: JosephSmith | 24/11/2009If you are looking to make the most profit from Fort Lauderdale Foreclosed Homes, read this article and see how you can do that.
Optimising Property for the Rental Market
By: Melissa Chappell | 24/11/2009Whether purchasing an investment property for the buy-to-let market, or attempting to generate additional revenue from a home awaiting re-sale once the local market improves, optimising techniques can make the difference between a property remaining empty for a long period of time and one that is filled with income generating tenants.
The State of the Charlotte Foreclosed Homes Market
By: JosephSmith | 24/11/2009Charlotte was fairly sheltered from the recent increase in foreclosures due to a lack of housing boom, but experts predict that the region will see a dramatic increase in foreclosures during the final quarter of 2009.
Swimming Pool Safety at Home
By: Alvin Clavines | 24/11/2009Swimming pool safety is essential to have a pleasurable time in your pool. It is a responsible step that you make sure your pool is used safely and that there are no dangers that could cause injury or death.
Tips on How To Quickly Sell Your Home
By: Liane | 24/11/2009It is important to have a selling plan before making the decision to sell your home or invite potential buyers to an open house. It is very important to be prepared so that costly home selling mistakes can be avoided.
Truth in Lending Act- Get Updated
By: Liane | 24/11/2009Commonly referred to as the TILA, the Truth in Lending Act was originally enacted in 1968 based upon a Congressional finding that economic stabilization would be enhanced and competition between financial institutions and other lenders engaging in the extension of consumer credit would be strengthened by borrowers’ informed use of credit.
Making Your Home Environment Friendly in Easy Ways
By: Maria | 24/11/2009The green movement these days has affected many areas of everyday living. There are people who modify their careers going eco-friendly in terms of practice and materials used. And helping the environment could be started right in your own home. There are simple easy ways to make your own abode be able become a part of this cause. The first step is to change the ways of practice concerning your appliances and home areas with energy saving measures.
Three Reasons Why Now is the Best Time to Invest in Real Estate
By: Judson Voss | 02/04/2009 | Real EstateYou can’t turn your t.v. on today without seeing some type of bad news about the real estate market so making the bold statement that now is the best time to invest in real estate in the last 15 years might seem a little crazy. The fact is today IS the best time and those that take advantage of it will be setting themselves up for amazing profits in the future.
Building Up a Network in Real Estate Investment
By: Judson Voss | 10/04/2008 | Real EstateNetworks help out real estate investors a lot by plugging them into good property deals. It’s very easy to build your own network when you are just starting out as an investor.
The Art of Negotiation in a Short Sale
By: Judson Voss | 10/04/2008 | Real EstateYou can’t just approach the bank with your best offer and expect to close the deal. You need to persuade them to accept the short sale first with a little negotiation.
Is Renting Smart?
By: Judson Voss | 10/04/2008 | Real EstateEvery now and then a real estate investor will think about becoming a landlord. Is it worth it?
How to Get Those Lease Tenants
By: Judson Voss | 08/04/2008 | Real EstateYou’ve got a property available for lease, but aren’t sure how to find the tenants to get into the lease property. It’s not too hard as long as you have the local newspaper!
Undesirable Property in Post-foreclosure Can be Your Most Profitable Sale
By: Judson Voss | 08/04/2008 | Real EstateThere are all kinds of deals to be made in the real estate business. Three deals in particular on the least desirable properties can bring you profits.
Can You Get Good Discounts on Properties Out West?
By: Judson Voss | 08/04/2008 | Real EstateYou can make money real estate investing in a high-priced area. All it takes is a little more effort and a willingness to hold onto property until it appreciates.