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Investing Strategies

New Market Rules: Winning in Short Sales Today

speedImagine this:  While driving down the freeway on a leisurely Sunday afternoon, you decide to explore a new stretch of interstate that recently connected your town to the nearby suburb.

You are cruising along at a cool 70 mph (as you are accustomed to doing on the local highways) when you suddenly get pulled over by a state trooper – who is clearly upset.

The trooper proceeds to explain that he has stopped you because your vehicle was exceeding the new road’s 55 mph speed limit by a whopping 15 miles per hour!  While he writes your very expensive ticket, you submit your only excuse…

“I’m sorry, officer, but I had no idea that this new stretch of road had a drastically reduced speed limit.  I’m used to a different set of rules.”

As he hands you the ticket and turns to walk away, the state trooper coldly recites an old Latin phrase, which continues to hold relevance even today…

“Ignorantia legis neminem excusat.” (“Ignorance of the law excuses no one.”)

ignoranceIgnorance is NOT bliss

It doesn’t seem fair, does it?  How can a person be held responsible for following certain rules and laws if the responsible party is unaware that such rules even exist?

Well, fair or unfair, that’s the way the world works – so you need to pay attention.  You are not required to possess an omniscient mastery of the universe, but you must make reasonable efforts to understand the ever-changing circumstances around you.

Otherwise, you will get burned.  (It’s not a matter of “if”, but “when”.)  Anyone who buries his head in the sand will eventually find himself being swept away by changing tides.

In other words, ignorance is not bliss.

shaunShaun McCloskey to the Rescue

Fortunately, Shaun McCloskey has been paying attention.  Although he may not know the speed limit on your state’s new freeway system, Sean has been reading tea leaves within the perennially dynamic market for short sale investing, and he knows exactly which rules are changing...

...and which one are not.

So if you want to be a winning investor in the short-selling arena, pull your head out of the sand and let Shaun tell you what’s up.  In today’s lesson, our resident “short sale sherpa” explains the latest shifts in short-selling that every active player should know about.

Real Estate Mogul Presents…

{Mogul Elite: Download an MP3 of this video in the Power Pack tools for this lesson.}


Do It To It! Immediate Action Steps

Raise Private Capital – Be prepared to raise private capital for your short sale deals, if your bank(s) require you to hold a property for 30-90 days before selling.

Delegate Cumbersome Negotiations Remember that you don’t need to always be the primary negotiator for your short sale deals.  You may want to delegate this work to someone else, so that you can focus on making offers.

Be Patient – Don’t offer a property for resale until you have obtained your own approval to purchase the property.

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