With foreclosures exploding everywhere, many Americans are dealing with the fact that they bought houses they just
couldn’t afford. Few things are worse than losing your home. Anyone who has experienced foreclosure will telly you that
it is an absolute nightmare The banks have it difficult as well. They have to remove these big pricey houses off their records. If they don’t, they pay for the foreclosure process, opening costs and attorney’s fees. Foreclosing is not fun for anyone.
But I want to share with you a cool little secret on how to cash in on the short sale deals that would normally be passed
over by the banks. (If you know short sales, then you know that this is typical.) its a little-known concept called the “Deed in Lieu.”
So banks will quite often accept the deed so they won’t have to pay for the foreclosure process and attorney’s fees and opening costs etc. (You can usually get between $1000-3500 per deed!)
So what does that mean for you? A lot of investors stay away from short sales, claiming they are too difficult to make
money with. These are the uneducated investors who are not familiar with the Deed in Lieu. You can actually profit from
EVERY single short sale deal that comes your way when you understand how the Deed in Lieu process works. (Even the
deals that most people would typically pass up as being unprofitable).
Its great because if its a fantastic deal you make BIG dough on the short sale. If its not, then you can easily get a cool $1000-$3500 per deal using this little known wholesale real estate marketing trick.
For more great wholesale real estate marketing tips for your real estate investing, visit Wholesale Real Estate, and check out Michael Kimble’s blog for videos, atWholesale Real Estate blog.