Welcome to 2009 everyone. Our current economic climate is absolutely perfect for short sales. Interest rates are at an all time low, foreclosures are at an all time high and the number of people who owe lenders more than their homes are worth is now breaking 20% of borrowers. That’s an estimated 10 Million borrowers that are upside down in their houses. What this means to you and me is that nearly $500 Million in potential short sale profits are available in your state right now!

And our short sale students are really cashing in on this current real estate market. Judy in Colorado just closed on her third short sale deal in two months. This third one earned a modest $16,121.00. Together, she has already earned more than $60,000 in the past two months time. What’s her secret? She claims she owes it all to working with us as her mentors. In fact, she even sent us a Christmas card highlighting the enormous difference we have made in her life. She had tried a Trump program and that supposedly had brought her nowhere. It wasn’t until joining us that she really made a breakthrough. Congratulations again, Judy.

Like all experiences in life, there are usually a few lessons that can be drawn from any real estate closing. Judy’s deal is no exception.

JUDY’S SHORT SALE LESSON – “Always have a back up plan”

The big lesson Judy learned at the close of this deal is to have more than one “flash cash” person lined up when it comes time to close. A “flash cash” person is someone who lends money for one day so that a short sale investor can buy and sell a property on the same day without using any of their own money. In Judy’s case, she had used this flash cash person on a previous deal so she didn’t feel the need to have a back up in case this person couldn’t perform. But this time around, he acted very different. He was very picky about the closing statement and all told, it required a few extra days of wrangling (and a few hundred dollars extra in closing costs) to get the deal closed. What could she have done differently? She could have had another flash cash person on speed dial ready to step in. In fact, this lesson is part of our 32 Golden Rules of Real Estate. It’s number 13.  “Always have a back up plan.”

This lesson cost Judy a few hundred dollars. You just learned it for free. And that’s what is so wonderful about working with mentors that have already traveled the path you want to travel…they have already learned the lessons so that you don’t have to learn them the hard way. If you have not already joined our Short Sales Step By Step Personal Coaching and Mentoring Program, go to

http://www.shortsaleteaching.com/mentor_personal_coaching.html

Feel free to call us if you have any questions about how to join at (877) 693-3172.

I hope this lesson helps you in your future financial endeavors.

To Your Success in 2009,

Phil Pustejovsky