« Getting Started in Real Estate Investing: Looking at the Logistics
5 Steps Toward Real Estate Investment Success »
Jun 08 2008

Short Sales Are a Great Way to Get into Real Estate Investment - if You Know How to Take Advantage of Them

Posted by: reipro, in Short Sales

The basics of short sales are pretty simple:

(source)Short sale investing involves buying a piece of property from a lender for an amount less than the balance owed on the property. Basically, there are two types of short sale realty investments. The first type refers to when you purchase a property, foreclosed by a lender listed with a realtor. In this type, you simply offer the lender, who has now become the owner on record, less than what is owed on the property. In this case, you can offer less than the balance that was due on the foreclosure. Such a short sale, realty investment calls for a good relationship with the realtor. The other type involves negotiating directly with the lender of a motivated seller.

When you’re thinking about taking advantage of short sales as a foundation of your real estate investment, you’re going to find that you are definitely working with motivated sellers. After all, banks are in the business of lending money, not in the business of owning homes; that definitely adds to their motivation to unload the property quickly - even if it’s for less than the value of the property.

However, just as the above excerpt about short sales suggested, the real trick to investing in short sales is building great relationships and then in using those relationships to your advantage. By making an effort to get to know mortgage lenders in your area, you will find that you are able to work with them to get great deals on properties that interest you; likewise, when you know the real estate agents that they work with, you will find that you are able to get a jump on short sale availabilities - at least once in a while.

When you are able to build solid relationships and you are able to take advantage of them, you’ll find that it’s easy to succeed in short sale real estate investment.

Share: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • del.icio.us
  • Netvouz
  • DZone
  • ThisNext
  • MisterWong
  • Wists
  • De.lirio.us
  • Fark
  • Furl
  • Netscape
  • Reddit
  • Simpy
  • Slashdot
  • Smarking
  • Spurl
  • StumbleUpon
  • Taggly
  • Technorati

This entry was posted on Sunday, June 8th, 2008 at 7:17 pm and is filed under Short Sales. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Short Sales Are a Great Way to Get into Real Estate Investment - if You Know How to Take Advantage of Them”

  1. Real-Estate-Investment » Short Sales Are a Great Way to Get into Real Estate Investment ... says:
    June 16th, 2008 at 7:37 pm

    […] Short Sales Are a Great Way to Get into Real Estate Investment …When you’re thinking about taking advantage of short sales as a foundation of your real estate investment, you’re going to find that you are definitely working with motivated sellers. After all, banks are in the business of lending … […]

Leave a Reply