Are All Foreclosures a Plum For Picking?

Likewise, an investor may find that short selling is not worth pursuing even though it appears to be actually negotiable

Are All Foreclosures a Plum For Picking? - Tim Cook, a successful real estate investor of TMC Property Solutions, views the countless websites and commercials about "Foreclosure Wealth" with a pinch of skepticism. 



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He realizes that not all foreclosures hang out there like a ripe plum being plucked from a tree. That's not all. It's more than the ads make you believe.


First and foremost, Tim advises all newcomers to make sure that the trade they are working on is a valid short deal. Contrary to common "beginner" investor beliefs, not all properties destined for foreclosure are prime candidates for a short sale. 

The trade may go well on the surface, but a closer look reveals that the novice investor has no exit strategy. In many cases, it may be easier to obtain a drug. Remember, you need a buyer to make it all work. 

Likewise, an investor may find that short selling is not worth pursuing even though it appears to be actually negotiable. Either you are not getting enough profit after you exit or the whole thing is too risky.

Pursuing such deals "just because they exist" is counterproductive. Submit a negotiable short sale transaction with your bank first. What you know works for you - you can lock down. A relationship of trust is built between you and the loss mitigation tool.

Tim tells his fellow investors to learn to be persistent when presented with the right deal. Most short offers are initially rejected. Don't be disappointed. Also, don't give the final answer no. Keep the hack going by providing documentation for your offers. Give them more than they ask.

Building strong relationships with lenders is key to success in the foreclosure market. The lenders want to move the property, but Tim knows firsthand that the loss mitigation officers are tired of dealing with rookies who don't know what they're doing.

He finds out that there are already ripe fruits that can be harvested if he does his part right.

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Tim Cook of TMC Property Solutions is a Marine Corps veteran who has owned and operated a real estate investment firm based in the Dallas-Fort Worth area for over 13 years. 

Having survived many starter hard knocks, he hopes to lead and mentor others in the business and has organized a real estate investor group in Weatherford as well. 

He is ready to help investors gain the knowledge they need to work with buyers, sellers, and investors in all aspects of their businesses. Please take a look at.

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