Short sale

I am sooooo confused on how somone would make a profit in short sales :help

It’s definately not a short term profit situation. Buy low, hold for 2 years, sell when the market turns around. I work with a lot of homeowners who think people who buy there short sale house be it an investor or regular buyer - thinks these people are ranking in the profits - I always tell them they are lucky if they get a buyer period much less a buyer that qualifies for the loan. Short sales are not a breeze by any means and if anyone is making a profit now I’d love to hear about it. Maybe we’re doing something wrong. :banghead

Obviously you are doing something wrong.

I made just short of $3M last year.

Read some books.

then how would someone make a profit on a short sale JDS??

SS are not get rich quik. They re very time consuming but w/knowledge and patience, very rewarding. Made just short of 6 figures 2007. With this mortgage mess, time frames are much longer. Loss Mitagators are swamped. Read, learn strategies, join local REI clubs. Where are you? What is your market like?

I’m in Orlando Fl. The market here is terrible. but i heard it’s good for short sales cause so many ppl are in Pre and Fourclouser. Im joing the club tomarrow Wen.

Short sales are definetly more hassle than the normal RE transaction, but so many realtors in my area have either dropped off the face of the earth, or avoid ss like the plague, that we have more listings for short sales now than we did for regular homes 6 months ago.

So investors need to wake up and smell the opportunity!