I’m working on educating myself as much as possible on short sales. My market, like most, is full of properties with little to no equity that are in foreclosure or where the homeowner wants out and I’d like to capitalize on some of these opportunities. Any resources (articles, books, websites) that you would reccomend to someone wanting to learn everything about the process? What helped you learn (assuming you are successful with them) ?
bump…
Nobody has any good books or websites or manuals on this stuff that they would suggest?
My introduction to short sales was at a one day seminar that was hosted by a local REI Club. After that I began my research online. There are several programs, books, courses, boot camps, etc. that I purchased and attended spending thousands of dollars. Looking back most of that was a waist of time and money. The majority of the stuff available out there is out dated and provides information and tactics that are no longer possible, or legal. Another thing I found was that several of the teachings were limited to a specific state, which did nothing for me in my own state.
Look for current materials that teach short sales in general or that focus within the state you are in. I advise not attending any ‘boot camps’ or spending more than $300 on any one thing. Take the time to read through short sale forums where the more experience short sale people hang out. I am a member of several, of them all, this forum, the REIClub.com, is one of the best I have found for short sale information. I strongly suggest you read the writings of some of the experienced people who post here. Click on their name to go to their profile, click on the link that says something about reading the most recent posts of the person. This will pull up a list of all of their posts, which you can read back to their first post. And of course, any questions you have should be posted in these forums to be answered.
GooD Luck! :beer
Feel free to send me an email outside of this forum and I will be glad to make some specific suggestions for you. I do not wish to spam the forum with links.