I have formal training in negotiation, project management, real estate appraisal, and accounting. I have twenty years experience in I.S… Sadly that ship has sailed. I would very much love to leverage my talents in such a way as to help people, and help my family at the same time. Doing short sales would accomplish both. I have studied the concept extensively and know enough to be dangerous.
I know too much about the gurus-for-hire who promise the moon and deliver butkus to want to have anything to do with them. I am not in any way shape or form greedy. I understand that this ‘profession’ is a rather dog eat dog world, not really suited for partnership, but that is exactly what I would like to do. I have no problem making others money… I’ve done that all my life.
I’m located in the Temecula Valley of S. California. I am equally close (or equally far away, depending on your point of view) to Los Angeles, San Diego, and San Bernardino. Please help me find a future in this discipline.
Just do it!
Make a decision
You wont know if you like it until you tried it for a year!
You can find alot of free info online about short sales. Don’t buy a $600 course. Network. Ask lots of questions. Run some small classified ads in your area offering to help distressed homeowners facing foreclosure. Do a search on Google on short sale techniques, tips, assistance, etc…
And don’t rule out commercial short sale possibilities either. Same process. The BPO is much more expensive tho but same process. If you know a business owner behind on his payments and looking at losing his business and contemplating liquidating his inventory, move in.
I know an acquaintance who recently short saled a collision shop that was appraised at $750k and she neg. from the bank for $245k and sold it to another business-owner in the same line of work (body shop business) for $525k. It took 4 months but she made a cool $280k in the process and the new collision shop owner got a new business for a bargain $225k below appraised value and the bank got rid of a business they had no interest in having on their books as a foreclosure that would’ve cost them a small fortune in holding costs. A true win-win-win for everybody in this case.
Why doesn’t that stuff ever happen to me? :-\
I appreciate the input on commercial property. I am not exactly sitting on my butt doing nothing. I have a property right now that I will be asking advice on.