Instant Cash Infusion Part 2: Short Sale Option Assignments Leads AND Option Assignment Fees in 30 Minutes or Less Guaranteed What is a Short Sale Option Assignment? Simple as Pie? Find a seller who needs a short sale Sell that deal to another short sale investor Collect a Short Sale Option Assignment Fee Profits range from $500 - $15,000 or more Plus a piece of the profits when the deal closes. My Results: Bay Village, OH 11 Notice of Defaults to target 2 vacant houses 9 phone calls 4 Loan mods pending 2 Legitimate lender errors 2 Interested sellers 1 Had issue resolved Step 1: Sweet Spot Pick your Sweet Spot: The zip codes you want to work in. Bay Village, OH Estimated median household income in 2008: $79,439 (it was $70,397 in 2000). Step 2: Obtain a List Obtain the lists of homeowners in default, distress or foreclosure in your sweet spot. Notice of Defaults Clerk of Courts Filing Clerk of Courts Defendant Parcel Address City Zip Case Number ParcelStatusFiled THOMAS J GAVAN ET AL23834 LAKE ROAD BAY VILLAGE BR A08/20/2007 ERIC HAGGETT ET AL25316 CONOVER DR BAY VILLAGE CV A02/23/2007 MICHAEL R. NICHOLL ET AL WINSOR DRIVE BAY VILLAGE CV A02/23/2009 SHARON M. COUGHLIN ET AL27066 LAKE RD BAY VILLAGE CV A03/18/2009 THOMAS J. SWEENEY ET AL465 OAKMOOR AVE BAY VILLAGE CV A04/13/2009 Step 3: Find Your Delivery Guy Hire a college intern or high school kid, a.k.a. The Pizza Guy. Minimum wage: $7.20 per hour. Just like a Pizza Delivery Guy. Tape the Notice on the front door. Wait for the calls to pour in. Notice Step 4: Plan the Route The Delivery Guy is not very sophisticated. Basic software programs can create routes and calculate time to accomplish the task. (Example: Microsoft Streets and Trips) It is foolproof. Step 5: The Delivery All you have to do is tape the Notice on the door. Super easy! Super quick! Notice Example of Notice Date Time Dear, I have been attempting to make a delivery to your residence. If you could please contact so we can make arrangements to deliver the document at your earliest convenience. Thank you, Step 6: Decode the Delivery Take calls from sellers who want to know what The Delivery might be.. Step 7: Create the Packet Packet Contents Official Document 1 Document to extend the civil process. 1 Document to extend it again. 1 Document to force the bank to make a decision. 1 Document to stop harassing phone calls. Step 7, continued Educational Document Options Timelines Tax implications A Cliffs Notes crash course on Foreclosure! Step 8: Deliver the Goods Have the Stop Foreclosure packets ready at your office: Official Documents Educational Documents Step 9: The 30 Min. Appointment Sellers who want the Valuable Information 30 minutes reviewing the packet, options to stop foreclosure. Deliver the packet. Explain each document. Set a follow-up. Confirm contact info. The Packet Sells for You!! Its Sales Mastery in a packet. Seller only have 8 possible options. 7 of the 8 are unlikely at best! It plants the seeds of doubt. It creates the Pain need for an acceptable solution: short sale, It will walk the seller down The self path of discovery. Its just that easy! Step 10: See the Property Set appointment right away to look at their property. OR Follow-up to see how things are progressing. Step 11: Follow-Up You could send additional marketing pieces, but why???? Just call your new friend Step 12: Follow the Progress Follow the progression through the Clerk Of Courts. Day 26, 52, 72. The court docket tells a story. Sample Docket: 9/07/2010D1AND1 AMANDA XXXXXXXXX ANSWER. PRO SE /26/2010N/AMGDEFENDANT AMANDA XXXXXXXXX'S MOTION FOR ADDITIONAL TIME IN WHICH TO ANSWER OR RESPOND TO PLAINTIFF'S COMPLAINT, FILED 07/14/2010, IS GRANTED. DEFENDANT AMANDA XXXXXXXXX HAS UNTIL 09/07/2010 TO FILE AN ANSWER OR OTHERWISE RESPOND TO PLAINTIFF'S COMPLAINT. CLPAL 07/23/2010 NOTICE ISSUED 07/14/2010D1RED1 AMANDA XXXXXXXXX REQUEST FOR DOCUMENTS..... PRO SE /14/2010D1MOD1 AMANDA XXXXXXXXX MOTION FOR ADDITIONAL TIME IN WHICH TO ANSWER OR REPSOND TO PLAINTIFF'S COMPLAINT PRO SE /26/2010 GRANTED 06/23/2010D2SR ON 06/17/2010 I SERVED THE WITHIN NAMED JAMES DOE NAME UNKNOWN SPOUSE OF AMANDA XXXXXXXXX BY SERVING A TRUE AND CERTIFIED COPY THEREOF WITH ALL THE ENDORSEMENTS THEREON. S.P.S. 06/23/2010D1SR ON 06/17/2010 I SERVED THE WITHIN NAMED XXXXXXXXX/AMANDA/ BY SERVING A TRUE AND CERTIFIED COPY THEREOF WITH ALL THE ENDORSEMENTS THEREON. S.P.S.06/18/2010D3SRCERTIFIED MAIL RECEIPT NO RETURNED BY U.S. MAIL DEPARTMENT 06/18/2010 RBS CITIZENS NATIONAL ASSOCIATION MAIL RECEIVED AT ADDRESS 06/09/2010 SIGNED BY OTHER.06/15/2010D4SRCERTIFIED MAIL RECEIPT NO RETURNED BY U.S. MAIL DEPARTMENT 06/14/2010 MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC MAIL RECEIVED AT ADDRESS 06/10/2010 SIGNED BY OTHER.06/09/2010D2SRCERTIFIED MAIL RECEIPT NO RETURNED BY U.S. MAIL DEPARTMENT 06/09/2010 JAMES DOE NAME UNKNOWN SPOUSE OF AMANDA XXXXXXXXX MAIL RECEIVED AT ADDRESS 06/08/2010 SIGNED BY OTHER.06/09/2010D1SRCERTIFIED MAIL RECEIPT NO RETURNED BY U.S. MAIL DEPARTMENT 06/09/2010 XXXXXXXXX/AMANDA/ MAIL RECEIVED AT ADDRESS 06/08/2010 SIGNED BY OTHER.06/07/2010D3SRSUMS COMPLAINT( ) SENT BY CERTIFIED MAIL. TO: RBS CITIZENS NATIONAL ASSOCIATION ONE CITIZENS PLAZA PROVIDENCE, RI /07/2010D4SRSUMS COMPLAINT( ) SENT BY CERTIFIED MAIL. TO: MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC 3300 SW 34TH AVE SUITE 101 OCALA, FL /07/2010D2SRSUMS COMPLAINT( ) SENT BY CERTIFIED MAIL. TO: JAMES DOE NAME UNKNOWN SPOUSE OF AMANDA XXXXXXXXX NORMANDY ROAD BAY VILLAGE, OH /07/2010D1SRSUMS COMPLAINT( ) SENT BY CERTIFIED MAIL. TO: AMANDA XXXXXXXXX NORMANDY ROAD BAY VLLAGE, OH /04/2010D2SRSUMS COMPLAINT( ) SENT BY SPECIAL PROCESS SERVER. TO: JAMES DOE NAME UNKNOWN SPOUSE OF AMANDA XXXXXXXXX NORMANDY ROAD BAY VILLAGE, OH /04/2010D1SRSUMS COMPLAINT( ) SENT BY SPECIAL PROCESS SERVER. TO: AMANDA XXXXXXXXX NORMANDY ROAD BAY VILLAGE, OH /04/2010D3CSWRIT FEE06/01/2010N/ASFMAGISTRATE JIM L JACKSON ASSIGNED (MANUALLY)06/01/2010D2CSWRIT FEE06/01/2010D1CSWRIT FEE06/01/2010D4CSWRIT FEE06/01/2010D2CSWRIT FEE06/01/2010D1CSWRIT FEE06/01/2010D1SRFORECLOSURE MEDIATION. NOTICE GENERATED FOR ON POST CARD ON AMANDA XXXXXXXXX NORMANDY ROAD BAY VILLAGE, OH /01/2010N/AOTNOTICE OF FILING OF MERGER DOCUMENTATION... JEFFREY A. TOBE ( )05/28/2010N/AJEIT IS ORDERED BY THE COURT THAT THIS CAUSE BE REFERRED TO THE COURT MAGISTRATE TO TRY THE ISSUES OF LAW AND FACT ARISING THEREIN AND REPORT WITHOUT UNNECESSARY DELAY. A PARTY SEEKING A DEFAULT JUDGMENT MUST FILE A MOTION FOR DEFAULT JUDGMENT. ONCE A CASE IS SET FOR DEFAULT JUDGMENT, THE MOTION FOR DEFAULT JUDGMENT MAY BE WITHDRAWN ONLY BY SEPARATE MOTION WITH GOOD CAUSE SHOWN. CLRDT 05/28/2010 NOTICE ISSUED05/26/2010P1SRFIELD SERVICE REPRESENTATIVE OR OTHER CONTACT: NAME LERNER, SAMPSON, & ROTHFUSS NUMBER /26/2010P1SRPRELIMINARY JUDICIAL REPORT FILED.05/26/2010P1SRCOMPLAINT FILED. SERVICE REQUEST - SUMMONS BY PROCESS SERVER AND CERTIFIED MAIL TO THE DEFENDANT(S)..05/26/2010N/ASFJUDGE RICHARD J MCMONAGLE ASSIGNED (RANDOM); RE-FILED CASE, REASSIGNED TO ORIGINAL JUDGE, JUDGE JOSE` A VILLANUEVA05/26/2010N/ASFJUDGE RICHARD J MCMONAGLE ASSIGNED (RANDOM)05/26/2010P1SFSPECIAL PROJECTS FUND FEE05/26/2010P1SFLEGAL RESEARCH05/26/2010P1SFLEGAL NEWS05/26/2010P1SFLEGAL AID05/26/2010P1SFCOMPUTER FEE05/26/2010P1SFCLERK'S FEE05/26/2010P1SFDEPOSIT AMOUNT PAID LERNER SAMPSON & ROTHFUSS05/26/2010P1SFDEPOSIT AMOUNT PAID LERNER SAMPSON & ROTHFUSS05/26/2010N/ASFCASE FILED When The Time Is Right Amanda to Derek Sep 7 Ok I will def. use your company. Thanks again, Amanda On Sep 7, :20 PM, "Derek Walkush" Amanda, Very good... Sounds like you have a solid plan. If it comes to short sale, I would ask that you use my company in the negotiation. I can find out the bare minimum the bank will take and have techniques in making sure they do. Remember the Steps Get Sellers to Call Set pickup Appointment Give Useful Info Let the Seller Check Out Follow- Up Short Sale Step 13: Sign Contract, Gather Short Sale Packet Sign the Option Contract Gather the Short Sale Packet from the Seller Step 14: Option Assignment Sell your Option on the property for an assignment fee Typical fees range from $500 -$5000+ up front Plus 10-15% of the back end profits Example: Apprentice Program My Apprentice Program Started in Active Members Today Compensation for each Apprentice Partner = $1,500 up front per deal PLUS 15% of the short sale profits Wade Cook: #1 Pizza Delivery Handy Man Plumber General House Fixer Guy Finds a area on the N.O.D. List Uses the Pizza Delivery marketing above Gets 1-2 houses a month using option assignment contracts Makes an extra $15k - $20k per year doing this about 2 hours a week. Wade Cook: #2 Notice Of Default List We pull the list from public record We hand it to him He reads it He almost always recognizes one person he knows We contact that person using WADE as a reference Wade signs up the homeowner We get the deal We pay WADE a Short Sale Option Assignment Fee. #1 Seller Lead Generation Strategy Pizza Delivery Marketing Seller Lead Generation Strategies Direct Mail Bandit Signs Newspaper Ads Magnetic Signs Door Hangers Door Knocking Flyers Business Cards REIA groups Telemarketing Real Estate Agents Mortgage Brokers Attorneys Past Seller Referrals Friends &Family CE Instructor Driving for Dollars Seller Lead Generation Strategies Video Articles Press Releases Blogs Social Media Squeeze PagesAuto-responders Credibility Kits Craigslist Postlets T.V. Radio REO Lists Bankruptcy Lists (PACER) MLS Author #1 Buyer Lead Generation Strategy for Short Sale Option Assignments 1.Sellers Trash Can They throw away all the direct mail from the other investors trying to buy their house. Simply ask Would you mind if I take all that mail with me and review it. Im always curious what other real estate professionals are up to in (Fill in blank) area. Finding Short Sale Option Assignment Buyers: Additional Strategies 1.REIA Club 2.Foreclosure auction 3.Ask realtors 4.Local ads: Look for ads from other investors online and offline Example: South Florida Seller owed $1,500,000 Investor negotiates a short sale to $900,000 Investor finds buyer via street sign at $1,150,000 Bank will not allow a short sale flip Investor assigns option for $157,000 dollar fee Buyer purchases the house for $900,000 Investor steps out of the deal and is paid $157,000 for his Short Sale Option Assignment Process took 7 months