Is the Sky Falling With Short Sales? (Part 1)
If you have any interest in quick-flips and/or short sales, I beg your undivided attention for a moment please. It’s important, but first you should know …
…There’s NOTHING FOR SALE here.
So please just put…the wallet…AWAY and just enjoy what we’ve got for you here …
How Many Short Sale Experts to Screw In a Light Bulb Again?
Ok, so last night I was part of a private coaching call with our own Shaun McCloskey and special guest Cory Boatright. …yep, two of the top short sale sherpas around.
Now you might want to know that these calls are intended to be private, only for a small group of people. But frankly the stuff we discussed here is just too important to our industry and our community. So we’ve gone ahead and made the decision to give everyone a fair chance to hear it.
Again, let me reitereate — NOTHING’S FOR SALE. So STOP looking at it sideways — this is a total “gimme” dealing with some of the livelier discussions we’ve had bantering about amongst friends in the community lately.
Stuff like…
- What the heck’s going on lately in the short sale industry?
. - Is the sky starting to fall around us? Rug being pulled out from under us?
. - What about the ethics of influencing the BPO? Is there a new problem here?
. - What’s going on with simultaneous closings these days? Some are saying you can hardly get them done anymore, and soon they’ll be a thing of the past. Is this true? And if so, what do we do then?
. - What about a certain little ”title company memo” going around that seems to have taken pretty harsh stance against short sale investors?
. - How are Shaun and Cory adjusting their own short sale biz at all in response to this?
. - WHEN should short sale investors fear being unwitting targets for fraud accusations?
. - And aat least 3 new websites that you MUST know about, including…
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- a new resource for 1-day real estate loans, and
- a reported “investor friendly” title company that does business in all 50 states, and advertises their comfort with closing “short sale” deals.
Let’s face it…
We’re going through a *HUGE* change in the real estate market right now…
…And many from our own community have begun to express some serious concern about how these changes might be affecting real estate investors.
So do yourself a favor and listen to “Part 1″ of our call today, and I’ll have part duex ready for you in a few days.
Enjoy…
Please press “play” to listen…
Standard Podcast: …or right-click here and “Save Target As…” to download an MP3.
| Update: If you’re having difficulty downloading the MP3 file, please click here to watch a quick 3-min video on how to download it. |
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Whaddya think about it all?
Your blog comment is music to our ears…
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February 5th, 2008 at 8:16 pm
Wow! You guys are the first ones I have heard deal with this issue head on. I am anxiously awaiting Part 2. This issue is going to have a definite effect on the business as more and more foreclosures continue to occur throughout 2008. The spotlight is on the Short Sale business like never before. I have been doing short sales for over 5 years and it used to be no one had ever heard of them. Now the banks are suggesting them to people.
Keep this kind of content coming. I deal with a lot of these issues in my blog and newsletter and its great to see others shedding light on them.
February 5th, 2008 at 8:21 pm
To Shawn, Cory and J. P. Thanks for posting this call.
I am very happy to see this info is being shared. I am concerned though that the issue is not being directly addressed. Do not get me wrong I want us all to be successful, as long as it is legal and ethical. (I know that is what you want as well) All of us want to and many of us will continue to do short sales and close them however we find works best. My goal is to hear discussed exactly that, what you truly think will work best as we move into the future. I may be completely off base but I think it is not going to be the double close or the simo close. Not because i am scared but because I think the banks are getting hammered so bad that they are grasping at what ever they think will reduce there losses. I thought most of the discussion revolved around one needs to work harder to find a title company that will close a short sale and do a simo close. I believe there will always be some ability to use use the simo close. I had hoped more of the call would be used to address what was said in the last few minutes. IE: Plan “B”. Shawn, you spoke about 1st American and your experiences 2-2.5 years ago. I think you would agree that with what is happening in the industry right now, what happened 2.5 months ago (let alone 2.5 years ago) is too old to believe it will or will not work today. That all said please do not take this as negative commentary that is not at all my intention. Consider me the devil’s advocate if you must. If that brings more knowledge to us all so be it. Once again thank you and I look forward to your next call.
Good luck to all
Sincerely
Jay
http://www.phoenixsolutionsllc.net
February 5th, 2008 at 8:53 pm
It’s just a 20 second audio file with nothing of any value in it.
February 5th, 2008 at 9:06 pm
Dick….thanks! And you’re welcome!
John….20 second audio clip? it must be malfunctioning on your end. This “part 1″ is 45 minutes plus. Did you listen to the downloaded MP3 or the play button on the blog? Maybe try rebooting your browser and trying again.
Jay……I think what you’re looking for is in part two, which I’ll put out later this week. That was the big “cliff hanger” if you will.
Stay tuned for part two and let me know if it satisfies ya.
February 6th, 2008 at 7:09 am
Help!! I can’t get the file to play. When I download it has .html extension, wont play on media player. Any ideas??
February 6th, 2008 at 7:53 am
The “save target as” link goes to a file that is much smaller than the “listen to” link.
February 6th, 2008 at 11:18 am
Guys….Now that was a great call. But I must say, at the end of the call, it kind of felt like the tv show “Deal or No Deal.” As soon as I felt you were going to get into some more good stuff, you went to commercial! Please hurry and send part two! Keep getting money and continue to helping people. Much Love!
February 7th, 2008 at 12:30 pm
I love it. I like how you left us in suspense for Part 2. Reminds me of my old “soap opera” days. I really enjoyed the part where Shaun shared his First American story. I remember assigning a contract for 10K and the title clerk didn’t appear to happy with me. He said,”How did I justify getting 10K for such a short amount of time? Short answer, I didn’t justify it to him. Why bother?
February 7th, 2008 at 8:14 pm
Just want to say thanks for keeping us updated. Being a new investor and getting my business up and running, its nice to have someone who is helping me overcome any obstacles that could keep me from being successful at it. Hope you continue to keep me updated.
February 19th, 2008 at 2:26 pm
Thanks so much for all the great info, I am looking forward to part 2!!!