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Forums » Short Sales » Show me the numbers

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Tag Tags: short-sales


John Williams

Handyman · Alpine, Utah


Forum_avatar_avatar-yamacrawler924

Oct 31 '09, 06:17 AM

I just wanna know what kind of numbers you guys are working with when you flip a short sale.

average short sale price negotiated Vs. Price you sell for as a percentage.

percent of deals that fail

Edited: 06/26/2010 at 10:19AM


Rich Weese

Real Estate Investor · sioux falls, South Dakota


Forum_avatar_avatar-venomousviper

Donor

Oct 31 '09, 07:26 AM

Hi John- on tranactional loans Will and I are making, the net % is probably 15-40%. That is in same range as personal properties I bought in TX over last 2 years. Winter there yet? Rich

Edited: 06/26/2010 at 10:19AM


John Williams

Handyman · Alpine, Utah


Forum_avatar_avatar-yamacrawler924

Oct 31 '09, 07:32 AM

Thanks rich, how many of those deals have you and Will been able to fund so far(if u don't mind me asking)?

Winter showed up a little bit but today is really nice! I like when it cools off around here.

Edited: 06/26/2010 at 10:19AM


Vikram C.

Real Estate Investor · Phoenix, Arizona


Forum_avatar_avatar-vkrmca

Donor

Oct 31 '09, 07:47 AM

John, are you thinking of wholesaling it? Guys in Phoenix area are making $10,000 to $15,000 on a wholesale flip. Some more and some less.

If you decide to sell it to an end buyer, then you have a couple of choices. You could sell it without doing any work on it at a lower price or you could put some money into it to rehab it and then sell it for a higher price.

Edited: 06/26/2010 at 10:19AM


Rich Weese

Real Estate Investor · sioux falls, South Dakota


Forum_avatar_avatar-venomousviper

Donor

Oct 31 '09, 07:52 AM

John- Will and I have done these separately before. Since joining forces, I think we have closed 3, have 2 more funded and 4 more in the next week to 10 days. Rich

Edited: 06/26/2010 at 10:19AM


John Williams

Handyman · Alpine, Utah


Forum_avatar_avatar-yamacrawler924

Oct 31 '09, 08:01 AM

I don't think its considered wholesaling.

I want to send mailers to people that are receiving NODs and negotiate a short sale while I find a new buyer.

Then use transactional funding to do a double close.

Edited: 06/26/2010 at 10:19AM


Scott Hubbard

Rehabber · Tucson, Arizona


Forum_avatar_avatar-bokman

Nov 04 '09, 02:54 AM

Originally posted by Vikram C.
John, are you thinking of wholesaling it? Guys in Phoenix area are making $10,000 to $15,000 on a wholesale flip. Some more and some less.


Wholesaling is making 1 or 2 % where your just selling the investment to a rehabber or a buy and hold investor. IF there are guys making $10 to $15K wholesaling, then they are selling to suckers. I am familiar with many rehabbers and buy and hold investors and we all agree that it is rare to pay that much to a wholesaler. Afterall, they have no risk of capital and it would be amateurish to leave that much money on the table.

Chances are they are either retailing the property to unsophisticated investors, retail bargain seekers, or they are higher-end properties where that kind of number is justified.

Edited: 06/26/2010 at 10:23AM




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