The Quick Version of what HSA can do for Short Sale / REO Investors

We have two programs for investors.

1. The 1% Funds Program.  This is a "Cash for a Day" type of hardmoney loan for you to use in purchasing Short Sales and REO's from Banks. This allows you to negotiate the the lowest price with Banks/Lenders. We charge 1% plus $300.00 at closing for the use of these funds during your closing. 

2. We show you how to use a Down Payment Assistance Program that can be used with non-FHA lenders. This is not a Gift Program. It allows you to take the equity in a home and get it to the buyer at closing as their required down payment from most lenders.

We do not buy notes, or make loans.

You will use the above funds to be able to obtain a POF (Proof of Funds) so you can provide to the bank when you start your negotiation. At the same time you start to market for a "A" Credit Buyer that will buy at a discounted price (under FMV). Once you find a preapproved buyer you submit them and your Bank acceptance letter to our Investor and title company for closing. The two transactions close together, your profit will have the 1% Funds free and any closing cost take from it and you are given a check for the remainder.

The buyers are located by two main methods. 

1. Our marketing plan that you are taught. Using Bandit Signs advertising Foreclosure in the area.

2.Existing Mortgage Brokers: Including pushing some of the equity to down payment. Many buyers are approved, but they don't have the down required. These are dead files at many mortgage brokers offices waiting for your phone call.

3. The Realtor: The realtor can find wholesale buyers easily right now, it's the retail buyers that can't be found. We teach a realtor aquisition technique that will have your phone ringing off the hook with deals where agents have buyers already lined up for the shortsale, just waiting for you to jump in the middle.

How the deal flows:
Many shortsales are already listed or have been arranged. You locate these via MLS/Realtors and Craigslist etc. You print out the POF and the Option Offer from the back office auto fill software provide free. File the Option with the Court House once accepted. Start showing the home to new buyers.  Negotiate the payoff shortsale with the bank. Send in the buyer approval and the bank offer approval to our investor and the title company.

Wait for closing.

Blogged with the Flock Browser