just starting - Posted by Sam Rosario

Posted by James - Michigan Investor on December 10, 2009 at 08:28:25:

On the contrary, I’m telling you to get more/better information and CRE has it.

If you do NOTHING, THEN you’re throwing away money.

Where would I be? I’d still have 17 THOUSAND DOLLARS and own two more houses…perhaps three making 500/month net each and equity of 50k.
…but that’s me.

Here’s a PRO-TIP (

just starting - Posted by Sam Rosario

Posted by Sam Rosario on November 26, 2009 at 20:38:00:

confused: I have spent $17,000 on a short sales course,
and feel that it is confusing because the speaker explains
with a constant back and fourth from one story to another
and back again,I feel like I’m on a $17,000 wish ride. and
just yesterday I spent another $300 on another short sales
course that actually showed me some ways by step videos yet
between them both I still can’t see which documents gets
placed in what order. I still don’t know what documents get
stacked in what order to submit a correct and winning short
sale package to the bank. Neither course has showed me how
to get a proof of funds letter. I am just starting out and I
need to know; which do I need first?-- an accepting
investor? an M.L.S, or do I need an N.O.D. first? which is
the best way to go to become one of the elite investors such
as yourselves? without losing all of my money on courses–
money I could have used to purchase a home for myself! Have
any of you out there had to spend this much in learning

Re: just starting - Posted by James - Michigan Investor

Posted by James - Michigan Investor on December 01, 2009 at 24:50:01:

Please send your 17k my way…I can buy 2 houses with it.

And make 9k each year. Each.
Also, if I get a buyer (and I will via 10% down from Uncle Sam), I can make you 17k on ONE.

Head to Florida or California for SSs and riches.

So there you have it…btw, I’ll only charge you 3995 for my way. It’s a better deal.


PS - I agree with everyone so far. Just needed to say something.

Re: just starting - Posted by Sgt.Sausage

Posted by Sgt.Sausage on November 28, 2009 at 17:22:32:

==> have spent $17,000 on a short sales course

Wow. That was an expensive mistake. Try not to do that one again.

Re: just starting - Posted by camgere

Posted by camgere on November 27, 2009 at 09:42:42:

This sounds like an internet hoax, but if it isn?t it is a sad situation. You touch on two points worth discussing that come up all the time.

Guru?s promise secret techniques that they will tell you for a lot of money.
The techniques are often very advanced and only suitable for very experienced investors. You can probably buy $20 books on Amazon.com that reveal the secret, anyway. Any real estate has booby traps: cracked slabs, mold, dying septic systems, fire and flood zones, hostile undisclosed ex-spouses on title, junior liens, mechanics liens, IRS liens, HOA liens, bankruptcies and former meth labs. Houses with these problems will commonly look like a real bargain. Problem house are often sold without disclosures (former owner is gone). Disclosures may have failed to disclose the one significant fact. Enforcing a contract involves $300/hour lawyers. How many hours do you want to buy with no guarantee that you will win? 50? 100? 200? Is the person you are suing judgment proof? Having a contract and enforcing it are two different things. Guru techniques don?t break the law, but step right up to the line and maybe even bend it a little. Good thing most people buying Guru courses already have bad credit scores. People should start out investing in a low risk way, until their skills support riskier techniques. Few amateurs would do well thrown into a professional sports event even if they feel they have great agility. Playing in the amateur fields would give them actual skills. Gurus include enough disclaimers to deny any responsibility (consult an attorney, CPA or investment advisor this is not legal, tax or investment advise). Disclaimers should give you very serious pause for concern. Frankly I would check with a local escrow or title company for forms before paying a bundle for them.

Guru techniques are marginally legal and have to be done with great expertise.
Everybody knows about Subject To and Due On Sale problems. Huge profits in short sales have a peril. If you just facilitate a short sale you might make a small commission. If you are not a licensed real estate agent, you have to do this very carefully in many states. To make a large profit you have to flip the short sale to an end buyer. A short sale is a hardship claim. It is NOT just asking for a discount. You represent that the current owner would like to pay the full amount, but it is impossible. S/he don?t have the income, the property can?t be sold because it isn?t worth enough. You are trying to head off a disaster. Then you immediately sell the property to an end buyer for a huge profit. But you just represented that the house had a low value. Hence the possible fraud. You can?t lie on mortgage applications or modifications. The argument that it was the bank?s duty to do an appraisal doesn?t mitigate your fraud, by my way of thinking.

Hopefully you will be the one out of a hundred newbies that pulls off a sophisticated technique perfectly for a big profit without breaking any laws or falling into any traps.

Re: just starting - Posted by Sam Rosario

Posted by Sam Rosario on December 02, 2009 at 12:53:22:

live and learn / that’s what it’s all about ain’t it?
I have enough bumps and bruises. One can truly learn
with constructive criticism. It’s nice to be
important…But it’s also important to be nice. It
would be nicer if I could get some real good / nice

Re: just starting - Posted by Kelly

Posted by Kelly on November 27, 2009 at 13:40:35:

Well said camgere. I have been a real estate investor, buyer of trust deeds, lender and landlord for many years and I just shake my head when I hear the late night gurus tout how easy it is to make millions by just following their simple plan. Truth be known many of these experts have filed BK and have done very few , if any deals themselves.

Re: just starting - Posted by James - Michigan Investor

Posted by James - Michigan Investor on December 04, 2009 at 19:25:31:

Last time I checked, CREonline had a lot of resources for doing SSs.

I’d start there myself. I’m sure you can get them for
less than 1k, so what’s another 1k ontop of 17.3k?

Not much.

Good luck,

Re: just starting - Posted by Sam Rosario

Posted by Sam Rosario on December 06, 2009 at 21:00:05:

guess ur really telling me to quit while I’m ahead ?
that I should forget about and give up on Short Sales ?
Where would you be if you had quit ? where would you be
if I had given you the same information when you needed
something constructive ?