Saturday, December 30, 2006

Real Estate Coaching

I wrote a few days ago about a motivated seller who is facing foreclosure. I also posted about real estate courses. One course that did not impress me was Don DeRosa. However, when I purchased his package he gave me his cell phone number. I decided to call him about this deal and wasn't expecting much (my previous attempt at buying coaching did not yield much with Dave Whisnant). So I was quite surprised when Don answered the phone right away. He spent 45 minutes on the phone with me, created a spreadsheet and emailed it to me. He walked me through short sale procedures even though I have not purchased his Short Sale course. All in all, I was very happy with his responsiveness and helpfulness. I would have to recommend him if you can get his cell number.

Don confirmed my belief that this was an excellent candidate for a short sale. There are 3 mortgages on the property and the second is foreclosing. He did not think the third would do anything and would probably take a few pennies on the dollar. So I have been working with the banks and trying to follow his advice.

Meanwhile my wonderful wife returned from China this week and came with a check for $20K for the sale of her garage condo. So now I feel I can go back to hard money lenders and see if I can qualify for a line of credit. 2007 is starting out on an upbeat note and I am excited about reaching my goals.

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