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Many people throughout the real estate industry have backed out of handling short sale deals. They believe that “short sales are dead,” which equates to a waste of time and money. Today, I’m talking with real estate investor, short sales expert, and owner of Real Estate Recovery Group, LLC. Matthew Merenoff.

Matthew has been making short sale deals for over a decade. In 2014, he expanded his firm nationwide to help more people throughout the country looking for an investor that handles short sales. Today, Matthew shares his journey into the short sale industry, explains how he turned this “dead niche” into a lucrative venture, and explains how he pre-qualifies his short sale clients.

“If you understand how the system works, you should be successful in the short sale industry.” – Matthew Merenoff

On Today’s Episode of Flip Talk:

  • Matthew explains why he believes many homeowners don’t understand their rights and how he helps educate them.
  • He explains how short sales and settlements are alike.
  • He shares how banks typically react to short sale deals vs settlements.
  • He shares his experience with negotiation – just how many ‘no’s’ does it take to get the golden, final answer?
  • He explains what can happen when an agent doesn’t understand the various programs available to homeowners.
  • He shares some of the craziest situations he has experienced throughout his career in short sales.
  • He explains why he doesn’t like handling REOs – unless he’s making a batch purchase.
  • He explains the two types of short sale deals and what he does – and doesn’t – include in his packages to the bank.

Matthew’s Tips for Getting into Short Sales:

  • Pre-qualify every individual.
  • Make sure everyone is on the same page.

Reach Out to Matthew Merenoff:

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Join us every Wednesday for a brand-new episode of the Flip Talk podcast. Flip Talk is your show to learn all about the ins, outs, and in-betweens on real estate investing and house flipping. Email your questions to Topics [at] FlipTalk [dot] com. Subscribe to the show and share your thoughts by leaving us a review on iTunes, Facebook, or visit our website.