Hello All:
It's been awhile since my last blog entry, so I wanted to let you know what I was up to! I have been in the process of negotiating a pre-foreclosure deal (aka Short Sale) with a bank, which will remain nameless. This is one of the things I do with the income I receive from my Negotiating For A Living business! That being said, many have e-mailed me saying they do not beleive that you can buy property 50 cents on the dollar, even in this economy.
Nothing could be further from the truth, it's all about negotiating and your skills and ability to get your position across. You see this particular home was on the market with a $250,000.00 mortgage, I offered $75k, and guess what? They took it! I beleive that equals 30 cents on the dollar! This house needs only inside paint and then will be ready to do a lease option or straight sale, which ever one materalizes it will equal $$$$$$$$$$ for me to the tune of 40-50k - not bad. That equals about a 58%-70% return give or take on my money.
In up coming posts I will breakdown some of the tactics and negotiating stratergies I used in this deal.
Be well...
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