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Contractor Marketing Secrets

20 Secrets For Landscape Contractors $97.18 Sale and marketing…

Contractor Marketing Secrets Your Competition Doesn’t Want You to Know $47.00 The first thing you need to know, is that this is NOT just a “book”. (More on that in a moment.) It’s a marketing “tell all” course to guide you to the most specific, profit-pumping marketing nuggets you can imagine, including… Drastically slash Yellow Page costs while increasing qualified leads. Untold fortunes are wasted in this media, but it is still a huge lead turn on… if you know how! Se…

21 Secrets For Irrigation Contractors $19.49 As part of Weathermatic’s 50th Anniversary, we have commissioned Robin Tulleners to prepare this unique business guide for the irrigation industry. This guide was written with the sole purpose of helping the irrigation contractor stay in business. The industry statistics point to an alarming 90% failure rate by the year 2000. In addition, most contracting companies build few or no assets to…

5 Secrets To Short Sale Success In Foreclosure Investing

Foreclosures are reaching new levels and about to go even higher in 2008. It is becoming imperative that Realtors and real estate investors become learn the art of the short sale and to use it to increase their sales production There is a right way and a wrong way to do approach a short sale.

Learning and implementing the following 5 secrets to short sale success will allow you to gain proficiency in doing and successfully completing short sales. If you are investor you can create equity where none existed. If you are a real estate agent you can sell homes that are upside down even in a bad market.

Secret 1 – Submit a complete package. Do not submit an incomplete package to the lender. If you do it will more than likely be put on the bottom of the pile. Make sure to include all the required information in the order specified my the lender and that every item is completely legible. This is an absolutely critical first step.

Secret 2 – Make a careful estimate of the current market value of the property and structure your offer accordingly The initial offer is critical to getting the short sale off to a good start. As you do more and more short sales you will become familiar with how various lenders work and how they react to offers. Most immediately tell you that you have to raise your offer. If they say this you need to find out why they have come to this conclusion.. Your goal is to have the lender order an internal BPO (Brokers Price Opinion) or a full appraisal of the property. Do not settle for just a drive by appraisal. No need to be nasty but be insistent and keep at it until you get the BPO ordered.

Secret 3 – Make sure that you personally meet the BPO agent This is the most important part of being successful with your short sale. You must personally meet with the agent or appraiser doing the BPO (Brokers Price Opinion or Appraisal). You job is to provide the person doing the BPO any information that can influence the BPO in your favor so that their price that will justify your offer. You should speak the BPO agent and let him know that the seller is in dire straights and is depending on the BPO. You should have a list of repairs done by a contractor and most importantly have a good list of comparable sales showing that the property is worth substantially less than what is the owner owes. All these items are important but meeting with the person doing the BPO is the most important of all. Do not let them get in the property without you being there and be sure to be early for the meeting.

Secret 4 – Don’t take No for an answer The job of the loss mitigator is to get the case settled for as much money as he possibly can. Of course you have to realize that there are certain circumstances that will limit the amount that the lender will take. Some of these are PMI (Private Mortgage Insurance), Fannie Mae, Freddie Mac, FHA and the VA guarantees. These loans are insured by private or governmental agencies and as a result are limited in the amount of discount that they will take. If it is a conventional loan the settlement amount is arbitrary and determined by the end lender or the investor holding the loan. If you are dealing with a servicer rather than a direct lender your negotiations have to be approved by the note owner before a price is agreed upon. Your continued persistence will determine your success in getting prices that allow you to create a profitable transaction..

Secret 5 – Be sure you are prepared to close promptly Once you have finalized your negotiations the bank will expect your to close quickly. Usually within 2 to 4 weeks. If you are unable to close within this period you can have a very difficult time negotiating an extension and may encounter difficulty negotiating with this lender or servicer in the future. This problem does not usually arise if you are the end buyer but if you are planning on “flipping’ the property out to another end buyer you need to be sure that they are ready to close when you finalize the negotiations for the property. One way you can stall this is to slow down your final negotiations until you secure your end buyer. Sometimes this can really work to your benefit when the loss mitigator calls you to see what is holding up your final acceptance of an offer. Many times you can get an additional reduction in the price.

Certainly there is much more involved in doing short sales but these 5 steps are critical in getting a successful resolution to a short sale case. Remember that you have to be persistent and polite but do not take no for an answer. Push on and you will succeed

About the Author

Dick Weiss Subscribe to his Free Newsletter at
http://www.shortclosures.com
Dick is a full time real estate investor in Florida. His specialties include foreclosures, short sales, lease/options and wholesaling properties. Dick also has his own real estate investment club in Stuart,FL

What are real ways someone with horrible credit can invest in the real estate market?

I hear all this talk about not using your own $$ or credit to buy homes, fix them up and sell them, my credit is CRAp literally, but if theres away around that I would love a piece of this real estate wealth pie. My husband is a contractor and he knows how to fix places up, it purchasing power we lack…any “secrets” …PS I heard something about using the SBA and business credit, is that an option?

I’ve heard all the same things you have… the “no money down, bad credit not a problem, use other people’s $$ to get rich” stuff they show on late night infomercials. But, they all seem to be scams. I’ve looked into quite a few of them. Bottom line, if you have the credit score, you don’t need the cash. If you have bad credit, you’re going to need a large down payment. One option – first time homebuyers usually get a better interest rate and more flexible terms – credit and downpayments are easier. So, you buy one home (will have to be your primary residence, though) and do the repairs/upgrades while living there. Then, you sell that for a profit, using the profit to buy the next home, etc.
Wish I knew something about the SBA/business credit option!!!
For the “get rich quick” schemes – check this link out before sending them $19.95 or $99.99.

http://www.infomercialscams.com/

Contractor Secrets with Chris Goegan – The Marketing Engineer

In by gone days all a contractor had to do was give the customer good quality and good service and he/she would be set. Then set back and let your customers do your selling for you. They would tell a friend and then that friend would tell a friend. Your phone would be ringing off the hook. I remember as an Architectural designer some days I would have up to four people wanting to schedule appointments for designs. Those days are long gone! But Fear Not! Click Here For Help