Short Sale Investing Checklist

Short sale investing has quickly risen to being one of the most popular forms of foreclosure investing over the last couple of years. Having a short sale investing checklist goes a long way to helping a short sale investor become successful.

Short sale investing truly creates a win win situation for all involved and certainly provides great properties and big profits if you do it right.

Though before jumping in, take a look at the short sale investing checklist below and make sure that you have all your ducks in a row.

Preparation

1. Education
Investing in a good short sale investing course or even coaching will go a long way to ensuring your success.

2. Research
The more research you do the better your planning and the more accurate your expectations will be. Don’t worry most of this can be done very inexpensively but it is critical.

3. Planning
You wouldn’t start any other business without a plan right? So make sure that you not only have goals but a written short sale investing plan too.

Organization

1. Incorporation
Incorporating your short sale investing business will limit your liability and can give you more credibility, not to mention some extra tax benefits.

2. Paperwork
You are going to need access to forms and contracts and a smart place to store them too. The more you can store online the less risk of losing it and the more freedom you have as it can be accessed form anywhere at anytime.

3. Systems
Having invested in a good short sale investing program you should have begin given some type of system to follow. However the more systems that you create for everything you do the better it will run on autopilot.

4. Communication
Make sure that you design clear lines of communication and consider upgrading your phone or mobile device if needed so that you can stay wired in on the go.

Your Team

1. Staffing
Regardless of how big or small your plans are you will find that things go a lot faster and more smoothly with the help of a virtual assistant.

2. Your mastermind group
Putting together a mastermind group of strategic partners can help build on your short sale investing knowledge, get you discounts and more. Some of the people you want to add include:

• Attorneys
• Insurance agents
• Contractors
• Home inspectors
• Real estate agents
• Mortgage brokers
• Marketers

Financing

1. Mortgages
Get pre-approved well in advance.

2. Transactional funding
Look into transactional funding as an option for financing your deals

3. Cash
You will at some point or other need some cash to make your short sale investing dreams come true so make sure you have some liquid so that you don’t miss out on any deals.

Marketing

1. Budgeting
Be aware that marketing is critical to your short sale investing success, you will definitely want to put some money aside for it for the first few months.

2. Social media
Your social media says a lot about you, so whether you plan to use it from marketing or not, you may want to clean it up a little.

3. Learning
Take a little time to brush up on the latest marketing methods or outsource it to someone who can handle it for you.

As you can see a short sale investing checklist is a great tool to leverage when you want your business to run smoothly.

This short sale investing checklist is by no means the end all be all of checklists. It’s just to help you get started and to help you brainstorm your very own short sale investing checklist.

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As a real estate investing pro, being prepared is your top priority so feel free to copy and paste this short sale investing checklist or use it to build your own!