Posted by ski on August 02, 2005 at 19:11:33:
I have done many short sales and will continue to do so. Why do the successful short salers have to PROVE anything to a non-believer?? If he is so against this way of doing business just go away and leave these to US, the ones who can turn a decent profit. There will always be nay sayers in any business. Just let them go by the wayside, wither up and die.
Let’s debunk the short sale myth. - Posted by EquityHunter
Posted by EquityHunter on August 01, 2005 at 21:58:40:
It seems the short sale idea is being promoted by a few individuals for unknown reasons. I am putting myself out there to debunk this myth. If these individuals will give all the details of their supposed transactions, I am willing to set the record straight so you can be truly informed.
First of all nothing on this site is verified. I can say I made a million on my last deal. Are you going to believe that? What if I said 100K? Same thing. So let’s put this into perspective. This site should give no credence based on just a few posts.
Let me ask you. How many posts have you read about sucessful short sales? I remember the days on this site when anyone who made any kind of good deal posted it. How many deals like that do you read about now? Now, I think it’s just posts from wannabes. I’m willing to debunk any story on here. I’ve been there and done that. I’m not on an ego trip. I just get irritated when I read bullspit on this site or any other. Most of the time I think it is just to sell courses or counseling. Go read a book instead and save your money. The guantlet has been thrown down! Bring it on. Put be prepared to PROVE IT!
EH
You’re Right! - Posted by Elise
Posted by Elise on August 09, 2005 at 18:37:11:
You can’t do any of this. Ever.
Investing doesn’t work.
Nobody has ever made any money inesting in real estate.
No real estate related business has ever made a profit.
Run away as fast as you can! Save yourself! Tell the others!
Everybody’s guilty until proven innocence? - Posted by michaela-ATL
Posted by michaela-ATL on August 03, 2005 at 06:12:23:
Even in today’s justice system people are innocent until proven guilty. Obviously not with you.
Michaela
Yawn… - Posted by JT-IN
Posted by JT-IN on August 02, 2005 at 22:20:07:
I’m nodding off to sleep over the thought of your premise about investors posting to “sell courses or counseling”.
I say “prove that claim”
Yawn…
JT-IN
Be prepared to do lots of griping then. - Posted by MatthewC
Posted by MatthewC on August 02, 2005 at 16:34:38:
To give credit where credit is due, I found creonline late 1998/early 1999. The people here are not the same as the people back then. A lot of the people around then have either disappeared or moved on and prospered to do bigger things.
When I look back, it has been a great ride. Things are much different for me now from back then. I bought a ton of stuff at the 1999 Creonline Convention which was some great stuff. I have made many many times more than all of the stuff I bought from my real estate deals.
Could I have learned it from a book? Maybe, maybe not. To this day, I find a lot of information and finer points in the courses not covered in regular books.
Now, if you go and ask me to “prove it” on my claims, that won’t happen because I just don’t care enough. If someone doesn’t believe me despite my statements, unless you are an investor or someone that is going to invest with me, I am not inclined to show anything.
You can throw the gauntlet down all you want. Very few are going to care enough. If you want to trash people who don’t prove it to you, you better be prepared to do lots of typing/griping.
Very recently, I had a pretty sizable amount of cash deposited into my account due to a cashout. I am willing to talk about the deal and tell about but if I am asked to prove it, I would say I didn’t even get a darn check. It was an electronic transfer with very few documents.
Your method of thinking will make it tough for you to move forward. But it is up to you.
MatthewC
Re: Let’s debunk the short sale myth. - Posted by Rob FL
Posted by Rob FL on August 02, 2005 at 13:40:48:
I agree with you that short sales are a heck of alot more difficult than most gurus say they are.
I would guess that my success ratio for them is about 1 in 3. The 2 big hurdles that mess these short sales up are (1) the appraisal / BPO done by the foreclosing lender often comes in too high, and (2) the lenders are slow to respond and the homeowner wants a solution in days not weeks (thus the homeowner often gets tired of dealing with me after 5 or 6 weeks of negotiating with their lender).
But short sales do happen. I have done about 5 or 6 of them in the past 2 years. They work especially well on junior lienholders. I have no interest in faxing anyone HUD statements or the like, so please don’t ask. I am not trying to prove anything.
Re: Let’s debunk the short sale myth. - Posted by Sean
Posted by Sean on August 02, 2005 at 07:56:44:
EH is right, yes occassionally you get a short sale to fall… but the idea that a Short Sale is a reliable, dependable and repeatable business model is in my experience comical.
I would bet no more than 1 in 20 short sale attempts are successful, if that.
Re: Let’s debunk the short sale myth. - Posted by Mike-OH
Posted by Mike-OH on August 02, 2005 at 05:41:30:
EH,
I’d like to hear YOUR story. What has caused you to bash short sales? I’m sure that there are many people on this board who have successfully done short sales. I have not personally done one only because the opportunity has not presented itself. I HAVE done just about every other type of deal including sub-2, lease option, purchasing notes, REOs, and yes even purchasing from the MLS. I absolutely KNOW that I could do a short sale if the right deal came along - WHY NOT? I do personally know people who have done short sales and have gotten good deals.
I not sure what’s upsetting you, but short sales can be done. Whether a person could make a living doing ONLY short sales might be another question. I have found that you need to be able to do many different types of deals if you want to pay the bills.
Good Luck,
Mike
The guantlet has been… - Posted by Barry (FL)
Posted by Barry (FL) on August 02, 2005 at 01:09:57:
PICKED UP!
Please read my response to your other post on this matter.
Nyuk, Nyuk, Nyuk - Posted by Barry (FL)
Posted by Barry (FL) on August 02, 2005 at 22:36:06:
I should have listened to my advice to you, and not bothered with this creature.
I do believe I will now. I’ve wasted enough energy on it!
On to the next deal!!!
Hope you and yours are well.
Barry (FL)
Re: The guantlet has been… - Posted by Jack
Posted by Jack on August 02, 2005 at 10:01:39:
OK, fax EH the closing statements (both the purchase and sale sides) for the last three short sales that you have done. Why wait for the next sale?
and besides… - Posted by Barry (FL)
Posted by Barry (FL) on August 02, 2005 at 13:10:27:
he’s already accused me of being a liar and a con, why wouldn’t he just add forger to the list and say that I created the documents.
The thing with closed minded people is that no matter what evidence you provide to disprove their theory they will always say it’s fraud! There’s no convincing them of anything other than what they already believe. Their own beliefs in their own little universe is all that they can concieve.
If EH was personally at both closings and saw the checks for himself, I’m sure that he would say that somehow I rigged it.
and who invited… - Posted by Barry (FL)
Posted by Barry (FL) on August 02, 2005 at 12:43:48:
the sign molestor to this party?