Thanks to all...received great answers.

Do a search for Creative Real Estate Investment Clubs or CREI.. they have a web site with many of the clubs located all over the country.... just don't be surprised to see they are not always for free.

If you are into searching out great information from people who do CREI day in and day out... check out Dealmakerscafe.com One of the best things about that site is you don't get flooded with "help" from people who want to separate you from your money... the Pro's don't charge for reviewing deals and making suggestions...

Thanks for the tips!

Robyn

Robyn...
I have to agree with Reality, do a search for clubs of that type... You may be even surprised that there might be a club in your local area that works deals like that... And please don't be afraid to ask questions, as everyone here and at sites like dealmakers do help and answer questions...

Good Luck and we hope to see you here some more...

Duane

I have been working with Short Sale investors for quite some time. I initially found investors at my local investment club but I also started calling investors who advertise through bandit signs and also in the paper. Most investors won't just list with you because you are a realtor, they want to know that you understand the Short Sale process and that you can even help them negotiate with the bank if necessary. I posted some of my experiences on the agents and broker forum if you would like to read that thread. I also recommend the Short Sale manual on www.shortsaledeals.com if you want a step-by-step guide to follow. You really will have an advantage as a realtor if you have done a few short sale yourself. Investors really appreciate that I have hands on experience plus it is a great investment strategy if you want to pursue them yourself. Hopefully this helps.

I know this is a rather old post but I thought this link would be helpful to realtors looking to pick up short sale listings.

http://www.shortsaledeals.com/indexrealestateagentspart1.htm

Above post is one of those sites that will assist you in separating you from your money...

Usless/ worthless .... and Flowers books are rated very low by real investors....

Instead of making blanket comments about something please know the facts. You have not said anything concrete. You've only made general statements. I have been a licensed real estate since 2002 and a majority of my listings come from either houses that I find on my own or from investors that I work with. What experience do you have as a licensed realtor listing short sale or pre-foreclosure properties? Please share your knowledge with everyone.

Read the Posts here...

Flowers course work/ books is rated by many CREI forums as one of the poorest, most refuse to carry links to order in their "book stores".

Posting of sites that have as a primary intent of taking money for information is not what these forums are about. Feel free to post information but expect to be called when you post something that is known to be of little or no value to the majority of people involved in investments.

I'm not sure who Flower is. D.C. Fowler has been an accomplished real estate investor for over 15 years. I have personally used his course to help me acquire short sale property and with listing short sales from other investors. I've even helped a few people in my office to get short sale listings. What have been your personal experiences with his information. I posted an article that related to the topic. I've answered questions about short sales for many people on this board. Also, please tell me what makes his information so poor? It is a step-by-step guide to short sale investments. What else do you expect?

jk33 I am sure Realty Check may have just had a typo.

He constantly shares very valuable knowledge and from the content I have read in his posts he has a very good knowledge of investing.

But, It would be nice to know what you have read that people say is the downfall of the program.

Did you read through the materials first hand or just heard it was poor from several successful investors?

Are people doing short sales in Huntington Beach? I have not heard about short sales in SoCal for about 8 years. Just curious here.

try google

you have to be more careful with short sales.

If Short Sales are an opportunity - then they are about to pick up in CA.

Yesterday, an investor buddy of mine got a call from someone who is in foreclosure and ready to WALK for $2000. They gave him $1000 and got the grant deed. Now my buddy will either negotatiate a fair short price from the lender or let it go to sale. Since the seller has left the country and doesn't care about his credit - my buddy only has $1000 at risk.

The investor buddy has already successfully negotiated 2 out of 3 other short sales with lenders in the last 3 months.

So - lesson of this story is that Short Sales can be done.

My question is - how do we as agents get involved?

Many ways...

I do work as the banks representative in evaluating Short Sales..for Fee and or commission

also directly for the delinquent / defaulting borrower/ owners... for Fee and potential sale commission

also for investors interested in this type opportunity... that have CASH... for Fee and Commissions

also for Asset Management Companies for both fees and commissions

also and MOST important... for my own investments.

Each requires a marketing program element that will bring that business to you. Some can be derived from the same activities and some require very directed and specifically target marketing.

To effectively be involved in Short Sales, you need a good understanding of the mortgage processes and the foreclosure processes in your state and county.

This is a niche real estate market and not well suited for most agents. It does require a very strong knowledge of your market area, how BPO's work and the processes required to mitigate a foreclosure and what risk are involved. A really good E&O policy is recommended to newbie agent along with Broker approval of your change in business plans. You will need your Brokers approval to work this area... it is not normally considered traditional real estate activity by many brokers.

Realty Check, here is what I have found out in the last two years working short sales. I am pretty much doing the same thing you do

Work as the banks representative in evaluating Short Sales..for Fee and or commission
directly for the delinquent / defaulting borrower/ owners... for Fee and potential sale commission
for investors interested in this type opportunity... that have CASH... for Fee and Commissions
for Asset Management Companies for both fees and commissions
I have not gotten to the last step you have listed …my own investments.

It is amusing to see when I have a bank contract to contact the owner and the property is listed for sale, that the Listing agent will and does not understand that I am just here to get info from the borrower for the bank. They constantly think you are out to take their listing.

Buying-al- houses

I hope your buddy has the necessary authorizations from the now out of country defaulting owner.

If not... then he is just out $1,000 and can not do a short sale because they require the defaulted owners signature and agreement. He may not even be able to discuss it with the lender with out the necessary authorizations.

The lenders are not indiots. If the lender comps out the subject property, they will likely see the equity, if any exists, and portfolio the property. The upside in a short sale for an investor is asset appreciation, offset by carrying costs of course, or an immediate equity position.

Learn for free from this site as much as you can.
Try also this one:
http://www.realestate-investinginfo.info

Good Luck!