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How to Do A Short Sale in Real Estate Investing

A short sale starts out like any other type of deal. It starts out by you just finding a property. In this case, we want to find a property that is in foreclosure. It should be a couple of months behind, maybe even 4 or 5 months behind.

One of the beauties of a short sale is that it lets us deal with numbers from our seller that are
unrealistic. Any time that you can get an unrealistic edge in business, it’s a good thing. And when I say unrealistic, it’s because we are getting the bank to discount that property. So, if somebody has a property that is 4 or 5 or 6 months behind on their payments, the bank is ready to take that property back. They are ready to foreclose on it, they are ready to put it up in auction. In todays’ market, that house probably isn’t going to sell at auction and that bank is going to be stuck with another house. These banks own so many houses, they could make a small city if they picked them all up and put them in one place. In any case, these banks do not want these houses, they are overloaded with them, and it affects their ability to loan. The more houses they own, the less money they can lend.

Click the video below to know more on how to do a short sale in real estate investing...




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