Your Insiders Guide to Successful Short Sales Course Complete Package by The Reid Group LTD LLC

Many of you have asked for the real insider's secrets on how to get your short sales accepted. You wanted to know the reasons why banks accept short sales, how to increase your profit margins using the banks own numbers to your advantgae, and how to ethically influence influence your BPO. Well the moment of truth is here, Graham and Donna of The Reid Group LTD., LLC are here to step you through the entire process from a banker's prespective.

Our Successful Short Sales course includes information about the fastest and most profitable way to invest in real estate. Foreclosures in the US are at an all-time high. People are saving less and less, and most Americans took advantage of the recent low interest rates and refinanced, leaving themselves with very little equity in their home. Short selling real estate is the best way to create equity in these homes where the seller is extremely motivated to sell. The best part is that banks are highly motivated to work with you because they do not want to take another home into their inventory. Take it from us, one of our founding members used to work at one of the countries largest mortgage lenders.

Having a former banker's insider perspective, on short selling real estate, will skyrocket your business to success by giving you the confidence and knowledge to communicate more effectively with the banks. This will literally make you thousands more on your very next deal. Don't you agree that having a banker on your investment team will help you make thousands? Do you think that adding thousands dollars on each deal would make your life better? We know it will!!!

As owners of the The Reid Group LTD LLC, Graham and Donna are a husband and wife team of real estate investors in North Carolina who have uncovered the secrets to successful short sale negotiation. After working alongside Jeff Kaller in High Point, NC, and learning the preforeclosure market for 6 months, they began their own real estate investment company. It was here that The Reid Group LTD developed their proven successful short sale systems. This course is different from all others because is written from an bankers prespective. Never before have they shared their secrets with the general public. Now they are opening their vaults and sharing the keys to their short sale success.

You may have even heard Graham on the Mr. Preforeclosure confrence calls as .MR. BANKER.. The insite found in this book can not be found elsewhere. You will learn the essential principles that govern the short sale decision process, and you learn key components of the banking infrastructure that will help you better communicate your short sale request. Don't you believe that having better lines of communication with the bank would help you have a quicker and more successful short sale?

Show me the money!! Many of you are able to find homes in preforeclosure, but fall short of getting your short sale offers accepted with the equity in the homes that you would like. It is one thing to get a short sale accepted, and yet another to get the maximum equity out of a short sale.

Your Insider's Guide to Successful Short Sales is specifically designed to give you an easy step-by-step approach to help you successfully negotiate short sales in real estate. With this simple strategy you will have an enormous advantage over any other investors in your area, and you will be able to create huge equity spreads in deals that they would pass on. Imagine having the confidence and the ability to work on deals other investors will not touch. Does having less competition in your market sound good to you?

Increase your profit potential in the foreclosure market by mastering the short sale process. Amaze your fellow investors by making huge profits on deals they would not touch or they may have passed on to you. Create your own highly prized, reputation as the short sale expert in your area.

"Using your step by step process, I am having tremendous success in getting my short sales accepted. On my first deal I bought a home worth $85,000 for $45,000. I got the second mortgage discounted so steeply that I now have fellow investors asking me how to work short sales."Robert Marshall- North Carolina

To profit in short sales you must: understand the process, step into the shoes of the person that you are negotiating with, and to use the banks systems to your advantage. The only place to get this highly shought after insite is directly from a banker. Your Insider's Guide to Successful Short Sales is not long, complex or confusing. It breaks the short sale process into several distinct phases that can be duplicated time and time again.

The proven step-by-step short sale techniques that are covered in depth in Your Insider's Guide to Successful Short Sales will make your foreclosure business explode as it has for many others. Our students are constantly creating large equity spreads and putting thousands of dollars on their pockets every day. This could be you, but you have to take action!! Successfully negotiating short sales is not a difficult process, if you have the right training!! Athletes who have the best training around perform better than their competition, right?

"I have taken several real estate courses on the foreclosure business. Until recently I had not ventured into the preforeclosure business because I thought that it was too complicated. My wholesale business was making good money, and I did not want to open another line of business until I knew I could profit from it. By taking your course, I now understand why banks take short sales, and how to get my offers accepted quickly. I am already seeing tremendous profits from this new line of business. I recommend this course to anyone who is serious about negotiating successful short sales. Thank you."

Think of the number of deals that you have walked away from because you did not know how to negotiate a successful short sale. Have you ever walked away from a deal and asked yourself, "What could I have done differently?" or "Did I leave too much money on the table?" Don't let this happen to you. Your Insiders Guide to Successful Short Sales dives into all of the aspects of short sale negotiation, so that you will have an in depth understanding of how the process works, and be able to profit from your knowledge immediately. With the right training, you can do this!! Wouldn't you agree?

"My husband was extremely busy and did not have the time to negotiate another short sale. We decided that I would follow the steps that are laid out in the course. On my first short sale ever, I negotiated a short sale on a home that appraised for $121,000 down to $68,250. The home only needed $7000 in repairs. And I did this with our three children, ages 4 and under, in tow. I am a former art teacher, numbers never really interested me until we got that check!"

Donna Treakle . North Carolina

Often people say that they only need one good idea from a course or boot-camp to make it worth their while. They understand that with one idea they can more than pay for the price of the course on a single deal. One of the best things about Successful Short Sales is that you will come away with more than one good idea. ALL the principles and concepts we teach can be used time and time again, and you will get better with each deal you negotiate.

Now is the time to send your pre-foreclosure and real estate business into hyper drive. Do you want to take your next opportunity to negotiate a successful short sale by the horns and make thousands of dollars? Do you want another system in your real estate investing arsenal that will help you and your family prosper? Have you taken a course on short sales and have not been happy with the results? If you answered yes to any of these questions, then you can not afford to miss out on this opportunity.

Your Insiders Guide to Successful Short Sales is the best product available to help you explode your real estate business and take it to the next level!! Do not settle for inferior training that only gives you partial information and confuses you more!! The only way not to succeed in this business is not to take action!

Your Insiders Guide to Successful Short Sales is the Complete Package!! There is no rock left unturned!!

You now have three different options on how to get a bankers perspective on Successful Short Sales.

· The numbers the bank is really working with so that you can structure your offer accordingly.

· How to present your Short Sale package in a well organized manner to increase the likelihood of your offer getting accepted.

· How to influence the banks Brokers Price Opinion (BPO), or appraisal, to your advantage.

· How to amaze your foreclosure leads with your confidence, professionalism and tremendous knowledge of the business.

Do not let the boom in the foreclosure market pass you by. Don't you agree that anyone can find a home in foreclosure, but it takes a person with training to maximize the amazing power of the short sale? We are your guide to Successful Short Sale Success!

Easy step by step manuel that will help you make more money on your very next deal! Your guide to how bankers think, and how banks decision short sale requests. Follow the easy step by step process to explain the short sale process to the seller, and how to influence the BPO ethically. Four (4) complete examples of succecssful short sales, with actual HUD statements, are also included. Use the actual paperwork that we sent to the bank on four of our successful short sales as an example and put thousands into your pocket. Put a real banker on your business team to help you make more money today!

All the forms to organize your short sale request to help it get approved quicker and easier. The actual scripts that we use in our highly profitable short sale business ready for you to use on your next deal. The spreadsheet that we use to determine what type of offer the bank will accept there for you to implement on your very next short sale request. (The banks themselves use a simailar spreadsheet!! They do not want you to have this amazing tool.) The actual BPO form that banks request so that you can have your appraiser conduct a BPO!! Copies of offer letters, and fax transmissions that we use on every single short sale request. All that you have to change is the date, loan number, address and sellers name. This data CD will change the way you request short sales forever.

Conversations with seller, appraiser and lender recorded for you to listen like you were a fly on the wall. Geared to dramatically decrease your learning curve. Listen to these conversations as you drive to your next deal, before you contact the lender, or before you call the appraiser to influence the BPO. Amaze yourself with the success you will have.

Listen to the audio book while you drive. Listen to the special commentary from Graham (the former banker) while you drive down the road, or in the confort of your own home.

"I have read many courses, and attended as many seminars, to help me become more successful with my short sales. Finally, someone has written a full disclosure course on short sales that lays out the process step-by-step, instead of jumping from step one to step five to step three, etc. Your material has helped me bring all the pieces together, by providing a straight forward, ethical system that actually works. I wish that I had found your course before I spent several thousand dollars on other courses that left me confused. Thank you. I can't wait to say "I knew him when he first started."

J. Ricter-Fort Worth Texas August 2004

You open up your morning paper to find that your bank has been audited and that their credit rating has been lowered. A little further reading and you find out that they have millions of dollars in bad loans. You turn on your television to watch the news while eating breakfast only to find out that the same bank's stock is down, and that investors will be selling the stock heavily throughout the day.

What would you do next? If you had deposits at this bank would you withdraw them? What about your investments that are held there? Would you loose confidence in the banking institution as a whole?

Banks are highly regulated to help keep consumer confidence up. Our government can not afford to have poor public confidence in the banking institution, our economy depends on it......

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This course will help you navigate the minefield called the "Short Sale Process". We will evaluate and rehearse conversations, assemble and understand the importance of the fax transmissions, prepare for unexpected circumstances, and assemble a clearly defined short sale package. We will examine the banking structure, come to an understanding on how the decisions are made, and review large holdings, the properties of large loan portfolios and the effect of your short sale request.

This course will require your complete attention.

Upon completion of this course you will have an in depth understanding of the short sale process. You will have the ability to run a extremely professional, efficient, effective, short sale negotiation. You will have confidence to direct the short sale process so that you can increase your profits and decrease the amount of time you spend on negotiations.

User Notes:

     1. All forms, faxes, seller documents and checklists seen or referenced in this book are located on the included disk.
     2. The short sale examples are real, but the names, dates, and lending institutions have been changed or blacked out.
     3. An overwhelming principle of this course and our company is full disclosure of information. Using this principle of business increases profits and decreases liabilities.

Before we begin we must define some essential terms:

- A "Short Sale" is when a mortgage note holder receives and accepts funds insufficient to cover all outstanding principle and fees on a debt, then releases the lien from the property.

- When we refer to the "negotiator," refers to the person, individual that works on behalf, or for a mortgage company, lending institution, bank, or individual.

- The mention of a "bank" or "lender" means the lending institution, mortgage company, bank or person who made the loan that is secured to the property. This is the entity that funded the property in foreclosure. They have a recorded lien on the property.

- If you ever feel that you are in an uncomfortable situation or you sense the seller is apprehensive, remember one important thing; you never have to buy or sell a home. This is especially true if you have an appropriate out clause written in your contract.

- For your protection always tell the selling party that they have the right to have any of your documentation checked out by their attorney at their own expense. If you feel uneasy about a deal, there is a good chance it is for a good reason.

Immediately after you, the investor, have decided to pursue a deal that is in, or about to go into, foreclosure the clock begins ticking. For many investors the deal ends before negotiations even begin. There are three common roadblocks many investors face in the short sale process:

1. Not understanding why the bank would even consider the short sale.
2. Being intimidated by the situation.
3. Neglecting the importance of a professional presentation.

The introduction explained how banks actually profit by short selling properties to investors such as yourself. The following chapters will eliminate any possible anxieties or fears you may have about negotiating a short sale, teach you tips on speaking to the lender with confidence, and enable you to prepare a professional offer package.

The Initial Phone Conversation:

The first conversation you hold with the lender is crucial to your overall success in short sale negotiation. As the old saying goes, "you never have a second chance to make a first impression." This first conversation communicates to the bank what type of investor they are dealing with. You must be professional, remain calm, ask the right questions, give the right answers, and most important, sound confident that you know what you are doing. Because of these facts, clear objective setting is critical. You are calling the lender with a purpose. The objectives listed below will serve as your map to a successful conversation.

Preparing for your First Call:

Because maintaining a high level of confidence is essential to a successful short sale negotiation, having proper preparation is another weapon that you can have in your arsenal. Before calling your lender take time to organize your file, read through your script, and review your questions. Have the conversation mapped out in your head so that you can steer it in the direction you want it to go. Although it may not happen often, be prepared to discuss your offer during your initial conversation.

Before you call, have ready:
     1. Authorization to release with seller social security number
     2. Loan account information
     3. Script
     4. Pen and Paper
     5. All other relevant property information
     6. Property Master Sheet

..................................... MORE FROM CHAPTER 2 .......................................

You will also need to get the following information in your initial conversation:

Negotiator Name: __________________
1st Mortgage Company:______________
_________________________________
Loan #: _____________________
Sellers Name: ____________________
________________________________
Lender Phone #:___________________
Ext #_____
Fax:_____________________________
Email: ___________________________

2nd Mortgage Company:____________
_________________________________
Loan #: _____________________
Sellers Name: ____________________
________________________________
Lender Phone#:____________________
Ext #_____
Fax:_____________________________
Email: ___________________________

Record all of this data where it is accessible. This is why we have created our Property Master Sheet and the Document Checklist for the Investor*. It allows us to record and remember to complete all relevant steps in the short sale process.

*Examples of the Property Master Sheet and the Document Checklist can be found in template form for you to use on your CD.

The Initial Call/Contact:

Mr./Mrs. ________________. I understand that you are the case worker for Account Number#______________________. I have the social security number if that would be of help? It is ____________________________. The name on the account is _______________________. I understand that you are not able to discuss this loan with me because I am not an authorized name on the account. I am an investor who is trying to purchase the home from Mr.Mrs. ______________ before it goes into foreclosure. I have a signed authorization to release information her in front of me, what number should I fax it to?....................... Great! I will send it to you in the next ___________min/hours. Is this your direct fax line or does it go to a central location within the department?.....How long after I send the fax should you have it into your system?.......Great! I will call you then. I will include all of my contact numbers on the cover page of the fax. Do you have a direct number?......Would you prefer that I contact you through email?. If so, What is your email address? Thank you for your time. I will send out my fax/email to you in __________ min/hours. I have worked on several short sales before, and I know that you are extremely busy. What is the best time for me to reach you? Great, then I will then call you back at_____. If it would help you, you could fax or email me the packet of information you will need from the seller. My fax number is___________, my email address is______________________________. In the meantime, if you have any questions please do not hesitate to call. Do you have any questions for me? Have a great afternoon.

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Understanding your Opponent:

Bankers are usually one of many very small fish in a very large corporate pond. In general they are very strait forward people who have a very specific job description and manner of conducting business. It is important to understand that most of the time the banks or mortgage companies that you are working with are extremely large corporations. There are very few individuals in large lending institutions who have vague job descriptions. Most employees of these institutions have only a few tasks that they are to perform before they hand the issue off to someone else. In their world, bankers believe that "You do your job and I will do mine."

Because of this, it is essential to identify and understand the specific job description of the negotiator that you are working with. Will they be the one making the final decision? If not when will my file be given to someone who will be making the decision? How long have they been in this position? What is their current case load? These are great beginnings for making small talk. The more personal the conversations are with your negotiator, the more they have invested in you and your short sale. You may be surprised at the additional information that you may learn, about them or their job that will inevitably make your short sale process simpler.

     Most people that are in the real estate business believe "there are few if any normal real estate closings." Most of the time you run into at least one a last minute title issue, a sticky divorce situation, having your phone calls ignored, seasoning issues or a home that needs to be released from bankruptcy. The following is a list of common snags that can happen when negotiating a short sale:

     1. Divorce
     2. Bankruptcy
     3. Emergency Title Issues
     4. Uncooperative Broker
     5. Lien on the Property, Other Than the Mortgage
     6. Asking for an Extension
     7. Seasoning Issues for new Investors

                                     .........................   MORE FROM CHAPTER 5  ...........................

Non-cooperative broker:

If you are fortunate to get a young negotiator who is motivated, count yourself fortunate. They want to demonstrate that they are more efficient and organized than their peers. The speed, in which they close out their case load, and more importantly your short sale, will be reflected in their quarterly or yearly bonus. We as investors want to help them succeeded!! We want to provide them with the most complete package they have ever had, and we want to deliver to them this information as fast as possible. We want to help our negotiator earn a larger bonus or be promoted. We want them to look great to their boss.

There are many instances when a bank negotiator or department is not responsive to voice mail, loose fax transmissions, and forget to order BPO's. In every situation remember one thing; you are the quarterback who makes this situation happen. All parties involved must be doing their part or the process does not work.

When you fax something to the lender, call or email them to confirm receipt of the fax. When the bank orders the BPO, ask them for the name of the company and contact information for the person responsible for the BPO. Then try to get them to commit to a date when the BPO should be back.

After the negotiator gets the entire package and the loan is in the "decision process," no matter how long the negotiator tells you that the process will take call at least one time per week to check in to see how the process is going. Friday's work well because you can call to see how their week went as well as wish them a happy weekend.

As a last resort call a manager. Be sure you have documented every time that you called and left a message with the negotiator. This is important documentation for your records and it shows professionalism.

Lien on property other than mortgage:

A junior lien holder more than likely will loose their position in a foreclosure. Mortgage companies don't want to take a short sale of thousands of dollars and then see a junior lien holder paid in full. You must call the junior lien holder and ask for a release of lien. Check with your attorney regarding county and state laws. Be prepared to fax or email over a written offer before you make this call. An example of this is in the Delray Example in the back of the book.

"Hello this is _______________calling from the _________________company. We are trying to purchase a property and one of your clients or possibly yourself are holding a lien on the property. The property address is _______________ the claim is against ________________and ______________________ the claim was filed on ______________ the amount is _____________. The first and the second mortgage have agreed to take a short sale on this property. I need for you to take a payment on your lien and in turn release it from the property. You could loose all of your lien position after the foreclosure date. I am prepared to offer you $________(10%) of total debt. I will have my attorney contact you for a release letter. He will coordinate the transaction when I close on my purchase of the home."

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Asking for an Extension:

Asking for an extension generally causes more fear than it should. There are several reasons that you may have to ask for an extension.

1. You just found out about the house and the sale is in two weeks. (It still might make since for the bank to take a short sale at this point.)
2. Your exit strategy for the property may have a snag.
3. The bank took so long in their final decision that the date you gave them in your offer letter is no longer possible.

For all three items mentioned above, there is a very good chance that your request for the short sale will be granted. If you have done your homework you should have several exit strategies. If you are not able to complete the transaction in any way call the bank and let them know the reasons. Your financing could have fallen through. Your hard money lender may have not liked the deal. Do not ask for an extension if you do not have the means or the intent to follow through with the deal. It is a waste of your time and the banks. You could also hurt the credibility of other investors.

We at The Reid Group LTD., LLC. trust that the course has fulfilled your expectations. We have gathered the best techniques in the industry and applied them to our own successful business. You should now be prepared to tackle any foreclosure short sale requirement that you may encounter.

We have taught you:

     1. How to explain the short sale process to the seller
     2. How to negotiate with the lender
     3. How to influence the brokers price opinion
     4. How to structure a short sale offer
     5. How to avoid sticky situations
     6. The process the bank uses to determining the validity of a short sale

We have given you:

     1. Check lists for the seller
     2. Documents to give to the seller
         a. Document Explanation Summary
         b. The Paperwork Explained
         c. The Process Explained
         d. The Timeframe Explained
         e. Authorization to Release Information
         f. Agreement and Statement of Understanding
         g. Financial Statement
     3. Scripts for banker conversations
     4. Fax examples
     5. Scripts for appraiser conversations
     6. Checklist for your short sale records
         a. Master Checklist
         b. Contractor Bid Sheet
         c. Repair Checklist
     7. Mortgage Amatorization Table

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With the completion of this course, you have an in depth understanding of the short sale process and the ability to run an extremely professional, efficient and effective short sale negotiation. You know have the confidence to direct the short sale process so that you can increase your profits and decrease the amount of time you spend on negotiations. We trust that this course has armed you with information that you will find useful, profitable and successful in your real estate business.

Happy Short Sale Negotiating!!!!

If you are invsting in real estate this is an opportunity that you cannot afford to miss! Don't let another deal pass you by costing you thousands.

** Bonus: two Confrence Calls in the month of November designed to answer any questions you may have on specific deals. Normal cost of this call $297 but you get it FREE!

For more information about consulting call us at 336-577-9414 and mention that you are an REI Depot member for the special price.