BiggerPockets

What About Short-Term Resale – Part II

Tuesday, May 05

To recap, if you get hold of a bargain, that’s half the battle.  Short-term resale is the other half.

The way to handle it is the way it’s always been done - buy it right to begin with.  The perfect deal would be a long DOM FSBO in a good neighborhood, negotiated for owner financing with minimal fix-up to sell at a discount in the competitive market.  In short, you have to steal the house.  You also have to work fast before the mainstream investors wake up.

The scarier the market the better, because the homeowner will already be psychologically broken.  Basically, if you can’t swing a dead cat without hitting a foreclosure (which is everywhere), you’re in the right place.  Buyers are just starting to get that, “I’m going to miss the bottom,” panic we’ve all been waiting for.  Once the stampede starts, it will be too late to leverage seller malaise.

Pretty?  No sir.  Is this where short-term money is made in this market?  Absolutely.

This is tough to do, and you may be better off waiting until the pulse of the resale market quickens.  For more on the wisdom of waiting: You've Waited This Long...Why Rush to Buy?

Comments

1. 

   Ron & Alexandra Seigel Reply
   about 3 years ago

   Thanks for this excellent clearly state message, making short sales less of a mystery!

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