LEADERS IN THE DISTRESSED MORTGAGE MARKET
Making Money with Short Sales
In the state of New York it can take up to eight years to foreclose on a property. During this time, banks are required to pay all taxes and insurance and are also responsible for the overall upkeep of these properties.
We've partnered with a company that has access to over 3,000 properties going through the foreclosure process on Long Island, Brooklyn, Queens and the Bronx.
The idea is to first identify which properties we want to pursue, then contact the homeowners and offer them an incentive to work with us and then negotiate a short-sale with their bank.
Once a short-sale has been finalized, we decide to either broker the property to another investor or rehab the property ourselves and market it to home buyers.
Whichever direction we decide, there is a certain amount of funding that's needed to complete each project. Currently, we're working with hard-money lenders who only finance approximately 85% of each deal.
We're looking for investors who want to either fund the remaining balance on these types of collateralized projects or fund the entire project.
To find out more about investing in short sales with Keyhole Financial Services, call us at 866-683-2720 or email us at email@example.com.