1. 1. ** Understand the process! You can’t explain it to a homeowner, title company or end buyer’s lender if you don’t understand it yourself.
2. 2. Know how to look at comps. for your investment property!
3. 4. Know what questions to ask the homeowner and Realtor.
4. 5. Know how to read a HUD.
5. 6. Know how to determine if the short sale investment will be profitable.
6. 7. Know what’s legal and not in the short sale process.
W Where is the best place to learn about short-sale real estate investing? Search The Web. Read all you can until you understand the basics.
W Where is the best place to get professional shortsale coaching or mentoring? There are thousands of people out there selling there "short-sale" strategies. I've purchased a few and they all give you everything you need to know to understand the process and start making money. The one that I thought provided the most up-to-date information and best tools was probably the Robert G. Allen course. It was definitely worth the money. I'm sure you can learn enough to do the process just by searching online. The mentoring, access to lenders, and also motivation that through the R.G. Allen course definitely boosted the number of deals I did last year. I'm an experienced investor and was doing fine before I took the course so don't think you have to take a course to go out and do your first short-sale.
Edit: 1/16/2011 13:58
Heres the Link to his site if you want to check him out..
