One of the most fruitful real estate owner targets days in many communities are second and investment home owners. When the mortgages on homes of absentee owners turn negative they are especially painful problems. These owners become "don't-wanters" very quickly (homeowners who are tired of their properties and just don't want them anymore).

That's where as a knowledgeable investor you come in.

You have two options if the deal looks good: offer to buy the house through a short sale; or you could offer to buy the house subject to a loan modification. The second approach is good when you can get the house to cashflow after the loan modification. Some lenders will look at a loan mod even if the owner continues to pay. The same is rarely true for a short sale. Some investors simply have too much income to qualify for a short sale. The short sale becomes a strategic default, and the consequences could be severe for future financing, using FHA especially. In situations where the owner is reluctant to default, a loan modification may still be a way to help and still buy the property subject to the existing loan.

While with a 500 fast cash installment loans for bad credit direct lenders modification the owner's financials and hardship are considered, for income property it is often enough to show that the specific property is not cashflowing and that the owner cannot continue to lose money in that investment property. The credit impact will be negligible if the owner continues to pay until the modification is completed. If the modification is successful the Investor can exercise the option to purchase the property subject to the new mortgage amount. A master lease option is another way of handling a property for which the loan terms have been successfully modified.

Both taking a property subject-to a modified mortgage and purchasing it through a short sale are true no-money-down techniques. Both can result in either flipping or buying an income property to hold. Now is the "perfect storm" time in history when savvy investors can mix and match these techniques for immediate income or long term cashflow.

In both cases, it is best to let experienced and skilled negotiators complete the discussions with the Lender. Unlike working 500 fast cash installment loans in oklahoma modifications for primary homeowners, most states do not provide specific guidelines on who may complete these negotiations on behalf of investors and second homeowners. Check the 500 fast cash instalment loan no credit check modification regulations in your particular state before attempting to work on an investment property loan modification just to be sure you are within the law.

There are tons of ways to make money in real estate, but all of them are useless unless you have a steady flow of motivated sellers and qualified buyers coming into your business. When you have a solid pipeline of prospects, you pick and choose the best of the best and finally take control of your financial future. Find out the most effective ways to get your real estate investing business roaring and turn it into an absolute cash engine. Sign up right now to get a my free 5-day "Uncover the Money" mini-course designed to give your business an immediate boost! Go to http://www.REWealthCoach.com to claim yours now!