Experienced Investor Diving Into Short Sales
I am an expericenced real estate investor with wholesaleing, L/O, rehab and retailing. I feel like it is time work on short sales since 1 in 5 leads are upside down in their mortgage. Any advice from those that have gone before me?
Your competitors are the loan servicers who are duty bound to maximize their net recovery...
As before, the greatest opportunity (IMHO) will be properties which are physically distressed,
undermarketable, and pose a problem for any lender who would choose to repossess.
There is a good article in the NYT about lenders walking away from properties due to their poor condition and pending code violations.
Yo....SSPro, Do you have a link to that article?
[addsig]
http://www.californiacreditlaw.com/2009/03/banks_walking_away_from_forecl.html