I’ve read on many REI discussion boards and from investors themselves that say SS are difficult to close and alot of time could be wasted by no deals being closed. On the other hand I’ve heard that SS is the next best thing and that if you do get a SS to go through you can make out well. Pros and cons to this type of investing so I’m looking for opinions from folks who do them on a regular basis, folks who said the heck with it after awhile, etc.
That all depends…they are time consuming and can take away from your “prospecting” for other deals. My company uses an outside legal firm to handle all the administrative work after I secure the contract. Hence, I am left with just updates to pass onto the seller. SS can take time…1 to 5 months, with no guarantee of a positive outcome. They should be just a part of your RE strategy, especially until you build up enough in your “pipeline” to have some SS accepted and then close on them to your up sell buyer…
It may take some time and effort, but in some markets and situations, it is the only way to profit. Sometimes, when the stars allign correctly, one can profit quite a bit too.
Nothing in this industry comes without effort, SS’s are no exception.