Lately, THE DADS have noticed that our peers (other real estate investors) and Realtors that we have spoken to about the concept of short sale leads, seem to come in 3 flavors, let me share them with you here:
1. They define a short sale lead way differently than we do and therefore either dismiss the lead as “junk” lead or they attempt the wrong solution that ends in failure. More often this is from the realtor camp. I have spoke to several realtors lately that define a short sale lead as little-to-no equity or upside-down equity and don’t know anything about doing short sales. So they either don’t list them cause the seller cannot pay the closing/commissions fees or they do list them for a price that is too high so it never brings in an offer or buyer and the seller ends up in foreclosure, which hurts the sellers and hurts the market and does nothing of value for the realtor but tie up the use of a sign and lockbox for no benefit.
2. They have attempted short sales in the past and have decided they prefer to be beat over the head with a 6 pound hammer rather than attempt another one of those time-sucking nightmares, so anything that smells like a short sale they would consider a “junk” lead. Understandable, but still leaves many sellers with a foreclosure, so they avoid the pain, but hurt sellers and hurt the market place. I have heard this story equally from both realtors and RE investors.
3. They cherry pick the deals that have lots of equity and only work with those sellers to do a short sale, while any other short sale leads that don’t meet their equity criteria are passed by as “junk” leads. This seems more prevalent in the RE investor camp. It certainly does help them minimize the pain for maximum profit and/or commissions, but again, it still leaves a lot of sellers ending up with foreclosures, so again, hurting sellers and hurting the market.
Besides all the avoidable foreclosure opportunities, the hurt sellers, the damage to the market, of all these scenarios where realtors and RE investors are flicking the so called “junk” leads off of their table, only one is even making any money.
Stop the madness…and call THE DADS!!!!
There is actually a 4th flavor…but we don’t run into it often. The 4th scenario is this….there are RE Investors, like THE DADS, who have a systemized machine with staff designed to handle ALL short sale leads, so at a minimum, they are all attempted. In other words in this 4th scenario, there are not any “junk” leads flicked off the table to be avoided. They are all given a chance to be successful closings. They don’t always work out, but a large percentage of those “junk” leads do work out successfully, which saves the seller from having a 10-year ATOM BOMB on their credit report, namely, a foreclosure. And it improves, or at worst, maintains the status quo, of that market. BUT BEST OF ALL—PROFITS ARE CREATED!!!!
So let me first define what THE DADS would call a short sale lead:
1. Seller(s) missed 1 or more payments on at least one of their mortgage liens, or any lien whereby the lien-holder is performing a foreclosure proceeding. It does not necessarily have to be with a mortgage firm, but usually it is.
2. Seller(s) has a legitimate hardship that is verifiable and easily supported with proof data.
3. Seller(s) is willing to cooperate as needed 200% in the process of doing the short sale. So a spiteful uncooperating spouse is a deal killer.
4. Seller(s) understands that his credit will be further damaged by more late pays and ultimately as a “settlement” on their credit report and that they cannot legally receive any funds at closing to sell the house in a short payoff.
5. The property is in the large central Texas footprint that THE DADS service. From Bexar county(south), to Williamson county(north), to Bastrop county(east) and to Burnet county(west). THE DADS have a team and resources in this area only. Some day THE DADS may expand out of this area, but for now, this is THE DADS short sale service area.
The type and condition of the house is irrelevant. Great or terrible condition does not make it better or worse….either works fine. THE DADS can do residential, 2plex, 3plex, 4plex, large or small apartments, commercial, land-only, and even mobile homes that are NOT chattel. If it is legal real estate, THE DADS will do it.
The amount of equity is irrelevant. It can be upside-down, little or a lot of equity. The amount of equity is not a criteria for doing a short sale with THE DADS, but “sometimes” it will be a factor in the profit potential.
The name of lien-holder is irrelevant, albeit, there are a rare few lien-holders that will not perform a short sale, that is very rare and THE DADS would still make the attempt anyway in most cases.
The size of the lien and size of the property is irrelevant. It can be a $5K lot, $100K house, $3mil house, $30mil commercial, etc……it does not matter how large or small the property, nor does it matter how large or small the lien is on the property, THE DADS can do all sizes of liens or properties.
As THE DADS say, if the 5 criteria above are met, THE DADS put the lead into the short sale hopper and work the process to get a successful short sale closed out the other end of the hopper. It is that simple. When working with THE DADS short sale hopper, THERE ARE NO “JUNK” LEADS.
Here is another cool thing – THE DADS do ALL the work! A referral source just gives to THE DADS the seller(s) contact info and any other info they have about situation, get’s the seller(s) buy-in that a short sale using THE DADS is the best solution for them…..and THE DADS do all the rest! You know….all that ugly stuff that made some people want to get beat on the head with the big heavy hammer. THE DADS DO IT ALL!
WOW!!! So, for doing none of the work, those “junk” leads become big mailbox money.
Hey there cowboy…go easy on those back flips—you want to be alive to enjoy that easy money.
When profits are created, THE DADS split those funds fairly with the referral source that supplied THE DADS with that “junk” lead. THE DADS even have a compensation method whereby the referral source can keep the property for rental or rehab project if they choose.
TRADE YOUR “JUNK” LEADS for $$CASH$$
BONUS — All of THE DADS referral lead source partners get FREE access and user rights to THE DADS proprietary lead capture and management CRM tool, called MyLeadSafe.com.
MyLeadSafe.com is total coolness at your fingertips. MyLeadSafe.com allows the user to capture, edit, track, manage their leads with an internet broswer anywhere in the world, so if a user can get on the internet, they can get to their leads. MyLeadSafe.com has many cool features, but here is my favorite one–users receive email alerts when they get new leads and when status updates are made to leads. So picture this, just imagine that your driving down the road and our staff changes the status of your short sale lead to “closed with profit” and you get an email message on your fancy mobile phone–even if you don’t read the details of the changes or review the whole history there in that email for you…..you can bank on one sure thing–MAILBOX MONEY IS COMING!!!!
Careful cowgirl, keep your hands on the wheel and don’t swerve off the road, you got shopping trips coming to a future near you!
If you want to profit and receive some mailbox money from your “junk” leads or find out more about MyLeadSafe.com, please call me directly to discuss more details: CL#512-588-3237