I just realized that you can short sell a house or you can short sell a stock. I guess I am going to use "short sale" for real estate transactions, and "shorting stock" for any short selling in the stock market.
YouTube is a great place to get information that is hard to come by any place else. For some reason people who won't really tell you what they are doing will get on YouTube and really spill their guts. Short selling is one of those topics that people don't really discuss to much, at least people who really know what they are doing.
But I ran across Bob Lachance on YouTube and this guy really does give you a lot of information with his videos. Currently he has 105 videos, but it looks like he tries to do a new video every week. Some of the older videos from last year have some outdated information, but they also still have some information that can help you.
In the videos they talk about their Preforeclosure Daily Grind website. This website also has some good information, when you first go there it has a popup that asks you to sign up for their 52 week eCourse. I signed up and have received the first 3 emails, and what they do is outline the information that is in their Short Sale Flagship System. This is referred to as their office in a box. It is broken down into different parts,
System #1 - is Short Sale Marketing System - it is $650.00 This is a manual on CDs (looks like about 5 of them)
System #2 - Short Sale Acquisitions System - also has 5 CDs pictured, also $650.00
System #3 - Short Sale Blueprint System
System #4 - Short Sale Liquidation / Settlement System
looks like there are 4 of them, each $650 for a total of $2600.00
Then all the way to the bottom of the page it looks like you get a discount for buying all 4 at the same time $1997.00
I don't have a lot of extra money now, so I probably won't be buying this for a while, but my guess is that if you don't know about short sales but want to set up an office this would be a great source for information. Just based on all the other information I have seen from these guys.
In the emails they also talk about Customer Relationship Management and they have another website for that, it is $99 per month.
The emails come from Bob Lachance's partner Patric Precourt and he has a couple of channels on YouTube, This is his old YouTube channel from 2009, with 4 videos, and he has a new YouTube channel. It looks like Patrick updates his videos about once a week also, this account currently has 77 videos.
They also had a website called www.ManageMyShortSale.com but they came up with a new website called PropTrackr.com and the old site just redirects to the new site.
PropTrackr give you a 14 day free trial which is nice, and today they have prices from $129 to $199 a month, but they have a limited time offer for $99 per month after that. Not sure if that means they are going to jack the price up on you after you sign up or not?
They also have a coaching site called Real Estate Business Mentors it sends you to simplecheckout to pay $499.00 per month.
Bob Lachance also has a Twitter account, but it looks like he has not updated it for a couple of months.
www.boblachance.com - this looks like an old blog that stopped getting updated in April 2009.
These guys really like creating websites...
AskBobLachance.com - this is a squeeze page where your offered a free ebook for your email address.
When you fill out your email and name it takes to you a page where you can submit a question, and download an ebook titled "21 Untold ways to profit in the pre-foreclosure business".
This pdf gives you an outline of how the short sale business works, and it also goes into a little detail that I have not seen anywhere else before. One thing I have been looking for is that if the person in default want to keep their house they charge "around a mortgage payment" if they are successful in negotiating a repayment plan for them. The bank is probably looking for 30% to 50% down plus the remainder of the back payments spread over 6 to 12 months.
I need to check to see if this is legal in California or not?
It looks like this was written a while back, and it looks like the state where they are operating is a lot more lax, on loaning money and dealing with loans, than California is.
The part about how do deal with a potential seller is actually pretty good and gives you a list of things to go over with them, it's probably worth downloading just for that.
On page 10 of the e-book it says that if you refer to the e-book when buying the flagship system you can get a 15% discount.
Not sure I am going to buy the flagship system, but who knows what the future holds.
found another site:
www.fridaycoffeebreak.com - this looks like Patrick Precourt's blog where he lists all his YouTube videos.
YouTube - Patrick's old channel.
YouTube video by Patrick, this is a good one about how to talk to the lender on a short sale before it is listed.
He says, have the agent call the bank and ask them were to start...
I am an agent, your debt is $300k the house will not sell for more than $180k, where do you want to start?
I am not going to spend much money advertising this house, I will list it in the MLS, then call back each week to drop the price.
Short Sale Daily news -
Found Bob Lachance on Facebook.
Patrick Precourt on facebook
www.fortunebuildersmastery.com - this site was talked about on one of their videos, not sure how they are connected. About foreclosures.
Patrick recommends backtobackclosingsmadeeasy Jason Medley - they use the guy for funding deals.
It looks like Jason also has a YouTube channel.
shortsalebootcamp2010.com - another website. - that site now redirects to nsehomes.com which stands for north shore homes. This page also has a special offer, Special Offer!
Get the Short Sale Flagship System for FREE when you order before March 20th!
Bootcamp Registration
+ Your Free Guest
+ Short Sale Flagship System (learn more)
Only $1997!
you can use pacer to access bankruptcy records, find people who are being discharged and own a house.
outsourcemyloanmod.com - another site by these guys.
stopforeclosurect.com - this is a site on a sign in their office I noticed on one of their first videos.
shortsale123.com - this is a site that they were using in 2009, but they let it go and someone is parking a foreclosure page there now.
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