New Strategy

default thumbnail

Short Sale Tips: Negotiating with the Bank

September 17, 2009 · Leave a Comment 

First, always remember that it is in the best interest of the bank to avoid entanglements with the actual property and pay off the loan.  Even if this means taking a loss. Sometimes a smart loss is very smart.  To go through with the foreclosure means the bank would have to spend money on legal costs, foreclosure expenses, advertising the foreclosure sale, trustee’s fees, and all sorts of insurance and miscellaneous expenses.  The total could easily be over $4000 for any house. This doesn’t even include holding... [Read the full story]

Influencing The BPO

default thumbnail

Influencing The BPO

October 20, 2008 · Leave a Comment 

The Broker’s Price Opinion, or the BPO is by far one of the most important aspects of short sales that you need to understand because it’s where the difference between a $10K profit and a $50K or more profit get made. So you’ll want to take a few notes here. So what is a Broker’s Price Opinion? A Broker’s Price Opinion, known as a BPO, is the bank’s opinion of what they believe the property’s as-is fair market value is based on their own inside appraisal. In other words, the bank sends their own appraiser... [Read the full story]

Expert Interviews

default thumbnail

Ask The Expert

October 22, 2008 · Leave a Comment 

These are recordings of interviews I’ve done with experts. They cover a variety of topics from students providing their own insight to how they actually run their short sale business, to students laying out exactly what they do to sell houses. Two of my favorites are the Valarie Scott Interview. She outlines how she does short sales for other investors and makes a ton of cash doing it. I also interview my friend Bill. He provided some incredible tips on improving your credit. Trust me, you have never heard... [Read the full story]

What's Happening

Short Sale Resources

6 Myths About Bad Credit Repair

6 Myths About Bad Credit Repair

I decided to make this page about repairing bad credit because there was a point in my life where my credit, due to lack of education prevented me from buying the house of my... [Read more]


More Resources

Short Sale Tips

Short Sale Course: About the BPO

Short Sale Course: About the BPO

The Brokers Price Opinion (BPO) is probably the single most important document in the whole short sale package, and the piece upon which almost all negotiation pivots.  This opinion... [Read more]


More Articles and Special Reports