Posted by James on August 18, 2007 at 03:16:26:
Unless they have a 2nd mortgage sitting on them. That’s where the bigger money is.
Banks want what they want and they demand that you play by their rules…which is retarded, always.
Don’t ask me what my close ratio is on SSs…it’s not good. Also, don’t put too much time/money into them and be upfront to the current owners you make no promises.
I’m finding that more banks are willing to sell on SS, but they want top dollar still…but more are telling the current buyer about them, so awareness is out there.
SSs are tough, but can be rewarding too…usually closing one equals 2 deals worth of pay…they just take a longer time to close. hmm…
Yes, real short sales … - Posted by Redline
Posted by Redline on August 16, 2007 at 21:15:44:
If you’re an experienced investor who’s actually DOING and CLOSING profitable short sales with banks, I’d like to hear from you.
I’ve done shorts in the past, and am trying a few right now. From what I’ve seen, things are as difficult as ever. If you thought the banks were playing “let’s make a deal” because the market is so tough, you’d be mistaken … atleast in my experience. The spreads are very tight.
So I would be interested to hear from people actually doing this (not reading about it, or watching it on TV) to hear where they are located, and what their experience has been.
We all might learn something