Focus Only On Short Sales
I am new to the investing arena and have read many books regarding R E investing. I am now at the point where I need "hands on" experience and am thinking of attending a seminar. I'm just not sure which to attend. I have a strong interest in short sales and am wondering if one can focus solely in just this one area? I would appreciate your imput. :-o
Dwan Twyford has a good seminar on Short Sales, and she is the one that has taught me most of the basics to short sales (and this board, of course). I believe she has a calendar of her bootcamps on this site.
I think if you do short sale, you will need some sort of exit startegy in place...wholesale it, rehab it, or hold it as a renal/lease option, maybe??? At any rate, if you short sale, you should know a bit more about real estate investing so you can pick an exit strategy and make money on it after you obtain the short sale.
I just read http://www.shortsaledeals.com and for under forty bucks, I thought it was an excellent resource, and I plan on using most of what I learned in there to execute my own short sales on preforeclosure leads I'm going to be marketing to.
Best, Dave
There are a million programs out there mostly less than 50 pages. There really isn't that much to them. I see them on Ebay all the time.
I have bought several real estate investing books, manuals,etc. I can truly say that I have gotten something from all of them . However, when I first started looking for short sale courses I found that the pickings were slim. I've read the above mentioned book and have thoroughly enjoyed it. I have never been to a seminar, just a lot of hands on experience. I only focus on short sales because I have had the most success in this area. I believe that it is possible to make a career out of short sales if you put the effort into it. There is very little risk and the profits are great. Best wishes.
Short sales are market, and policy driven.
While it's important to know how to structure and negotiate a mortgagee short sale... I would not recommend that you place all your eggs in one basket.
Learning a variety of acquisition techniques and being able to assess each situation and implement the applicable acquisition technique is
the way to go.
Deals are scarce. Treat them like gold. Fit the aquisition technique to the set of circumstances... not the other way around.
I was talking to some other investors about this topic not too long ago. The real estate industry is so broad that if one fails to carve a niche in one or two areas of this businss then investing now becomes that much harder to profit from. I'm only speaking from my own person experience and others that I work with. Short Sales can be a very rewarding and profitable strategy to follow if it is done right. Every property that has a delinquent mortgage or is in danger of foreclosing is not the best deal for you to pursue. Strategizing and following a great system is 75-80% of the battle. For anyone that is willing to dedicate themselves to successful Short Sale investing this strategy will be profitable.