There was a lot of hype about shortsale before. Im interested in how these are “flipped” I read a couple articles and the summary of a course by DC Fauccett. Seems they buy and sell on a option.
I read though that now you have to hold onto the property 60 days generally and they arent assignable.
So is there fast cash still available with this method?
Short sales are a notoriously long drawn out process. There is no such thing as a quick close short sale. The average time from the offer to closing is between 3 to 5 MONTHS and they have a very high failure to close rate.
If you are willing to stick with a possible deal for that long, then short sales can be an option. Hold periods are going to depend on the bank/owner.