Manage episode 315837018 series 2391318
Today we’re going to talk about short sales. This is a technique that’s used to work with a lender to get them to allow the sale of a property for less than the balance owed. Successfully negotiating a short sale can provide a lot of upside value for investors, but it also takes knowledge and skill.
Nicole Espinosa is known as The Short Sale Queen. She has closed thousands of short sale transactions successfully and continues to process hundreds a month for clients nationwide. She’s also the best-selling author of “Short Sales Uncensored” and is the leading short sale expert based out of Dallas, Texas.
Today Nicole is going to take us through the short sale process from A to Z. We’ll discuss why a borrower would consider selling their home on a short sale, and the conversation Nicole’s team might have to convince them this is the best option. We’ll talk about the banks and how to determine if you’ve connected with the right person who can help keep the process moving. Nicole also works with many investors, and she shares a recent scenario that helped them acquire a property for less than it’s current value.
Nicole also talks about the team she’s built out and the systems they use to expedite the short sale process. We also discuss the wave of foreclosures she sees on the horizon due to the forbearance periods ending from the foreclosure and eviction moratoriums.
Having the knowledge of short sales is an incredible tool that you should have in your investor tool kit. Nicole does a great job of making it as understandable as possible, and I know you’ll get a lot of value from listening to this episode.
You can find out more about Nicole through her YouTube channel: https://www.youtube.com/c/TheShortSaleQueen
Or through her website: https://thessqueen.com
Today’s episode is brought to you by Green Property Management, now offering a $250 per unit project allowance to new clients in West Michigan. Text "Green250" to 21000, or visit them at https://www.livegreenlocal.com/.
And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and Medicare benefits. Visit https://www.rcbassociatesllc.com/ to learn more.