5/25/12 IMPORTANT ANNOUNCEMENT: MAJOR BP Update Next Week!

Hide this

Forum Rules · Advanced Forum Search

Jump to Category View All

Click a category below to view different forum categories.

BiggerPockets

General Info

Rss10 BiggerPockets Q&A, Site Questions, & Announcements

1001 topics, 8189 posts — Last Post 05/25/12, 01:20PM

Rss10 BiggerPockets Exclusive PRO Area

12 topics, 81 posts — Last Post 03/23/12, 03:25PM

Rss10 New Member Introductions

4596 topics, 26506 posts — Last Post 05/25/12, 04:49AM

Rss10 BiggerPockets Success Stories

152 topics, 1813 posts — Last Post 05/25/12, 10:22AM

Rss10 BiggerPockets Real Estate Investing Summit

87 topics, 1549 posts — Last Post 05/07/12, 02:13PM

General Real Estate

General Real Estate

Rss10 Buying Real Estate

1318 topics, 10385 posts — Last Post 05/25/12, 01:12PM

Rss10 Selling Real Estate

320 topics, 2544 posts — Last Post 05/08/12, 07:34PM

Rss10 Renters

202 topics, 1618 posts — Last Post 05/25/12, 11:34AM

Rss10 Get Foreclosure Help - Help Stop Foreclosure Forum

221 topics, 1747 posts — Last Post 05/18/12, 08:38PM

Rss10 Home Owner Association (HOA) Issues & Problems Forum

111 topics, 719 posts — Last Post 05/08/12, 06:37AM

Rss10 Do it Yourself

328 topics, 2841 posts — Last Post 05/25/12, 09:10AM

Reviews & Feedback

Rss10 Real Estate Deal Analysis and Advice

1625 topics, 12972 posts — Last Post 05/25/12, 01:25PM

Rss10 Real Estate Guru, Book & Course Reviews and Discussions

700 topics, 7128 posts — Last Post 05/23/12, 02:16PM

Rss10 Ask About A Real Estate Company

330 topics, 4781 posts — Last Post 05/10/12, 10:31PM

Real Estate Investing

Real Estate Strategies

Rss10 Wholesaling

2588 topics, 19948 posts — Last Post 05/25/12, 12:14PM

Rss10 Rehabbing and House Flipping

1622 topics, 14294 posts — Last Post 05/25/12, 12:39PM

Rss10 Real Estate Development

202 topics, 1123 posts — Last Post 05/19/12, 07:40AM

Rss10 Pre-Construction & New Home Construction

90 topics, 600 posts — Last Post 05/05/12, 11:02AM

Rss10 Innovative Strategies

377 topics, 2934 posts — Last Post 05/24/12, 07:34PM

Rss10 Tax Liens, Notes, Paper, & Cash Flows Discussion

477 topics, 2845 posts — Last Post 05/25/12, 12:20PM

Rss10 Rent to Own a.k.a. Lease Purchase, Lease Options

355 topics, 2228 posts — Last Post 05/20/12, 09:55AM

Rss10 1031 Exchanges

62 topics, 342 posts — Last Post 04/29/12, 08:09PM

Foreclosure Investing

Rss10 General Foreclosure & Pre-Foreclosure Forums

1156 topics, 7084 posts — Last Post 05/24/12, 06:30PM

Rss10 HUD, VA, and Tax Sales

215 topics, 1326 posts — Last Post 05/18/12, 12:01PM

Rss10 REOs

948 topics, 7884 posts — Last Post 05/23/12, 05:04PM

Rss10 Short Sales

1254 topics, 10440 posts — Last Post 05/23/12, 01:58PM

Landlord & Tenant Forums

Rss10 Rental Property Questions & Landlording Issues

3183 topics, 28801 posts — Last Post 05/25/12, 09:14AM

Rss10 Land & Farm Investing

118 topics, 737 posts — Last Post 05/25/12, 01:17PM

Rss10 Mobile Homes & Mobile Home Park Investing

416 topics, 3071 posts — Last Post 05/24/12, 05:40PM

Real Estate Dealmaking

Rss10 Make Deals, Find Partners, Mentors & BirdDogs, etc.

3703 topics, 13610 posts — Last Post 05/25/12, 01:07PM

Rss10 Promote Your Real Estate Buyer's List

160 topics, 689 posts — Last Post 05/02/12, 05:54AM

Rss10 Property Wanted

635 topics, 3041 posts — Last Post 05/19/12, 07:44AM

Rss10 Seeking Financing, Money, or Loans

1245 topics, 7437 posts — Last Post 05/21/12, 10:41AM

Rss10 Tax Liens, Notes, Paper, & Cash Flows Dealmaking

277 topics, 1909 posts — Last Post 05/23/12, 06:40PM

Rss10 Bulk REO Discussion and REO Dealmaking

843 topics, 5906 posts — Last Post 02/02/12, 04:20PM

Investor Basics

Rss10 Starting Out

4197 topics, 30898 posts — Last Post 05/24/12, 03:17PM

Rss10 Investor Psychology

298 topics, 4486 posts — Last Post 05/04/12, 09:01PM

Rss10 General Real Estate Investing

3144 topics, 21839 posts — Last Post 05/25/12, 12:37PM

Rss10 Real Estate Investor Marketing

910 topics, 7482 posts — Last Post 05/25/12, 10:26AM

Commercial Real Estate

Rss10 Commercial Real Estate Investing Forum

743 topics, 3995 posts — Last Post 05/23/12, 08:46AM

Rss10 Multi-Family and Apartment Investing

219 topics, 2013 posts — Last Post 05/25/12, 11:11AM

Rss10 Office Investing

3 topics, 36 posts — Last Post 11/15/11, 02:42PM

Rss10 Industrial Property Investing

4 topics, 14 posts — Last Post 05/04/12, 06:44AM

Rss10 Retail Property Investing

10 topics, 77 posts — Last Post 05/25/12, 10:15AM

Rss10 CRE Financing and Lending

26 topics, 247 posts — Last Post 05/23/12, 05:27AM

Rss10 CRE Syndication and Fundraising

26 topics, 236 posts — Last Post 05/20/12, 04:52PM

Rss10 CRE Property Management & Leasing

2 topics, 12 posts — Last Post 05/18/12, 12:34PM

The Business of Real Estate

Real Estate Technology and the Internet

Rss10 Technology, Social Media, Real Estate & The Web

269 topics, 2277 posts — Last Post 05/25/12, 07:40AM

Rss10 Real Estate Blogs & Blogging

24 topics, 293 posts — Last Post 05/16/12, 09:29PM

Business Basics

Rss10 Goals, Business Plans & Entities

428 topics, 4273 posts — Last Post 05/24/12, 09:08PM

Real Estate Finance & Legal

Financial, Tax, and Legal

Rss10 Tax, Legal Issues, Contracts, Self-Directed IRA

1349 topics, 9465 posts — Last Post 05/24/12, 07:35AM

Rss10 Credit & Credit Repair

182 topics, 1484 posts — Last Post 05/22/12, 06:06PM

Rss10 Property Insurance

135 topics, 847 posts — Last Post 05/25/12, 12:56PM

Rss10 Bankruptcy

21 topics, 113 posts — Last Post 05/21/12, 08:25PM

Loans, Mortgages, Credit Lines

Rss10 Private & Conventional Lending Discussion

1346 topics, 8085 posts — Last Post 05/25/12, 12:58PM

Rss10 Creative Real Estate Financing

659 topics, 4285 posts — Last Post 05/24/12, 10:58AM

Real Estate Professionals

Real Estate Professionals

Rss10 Real Estate Agents

639 topics, 3562 posts — Last Post 05/24/12, 07:47PM

Rss10 Bankers, Lenders, and Mortgage Brokers

355 topics, 1268 posts — Last Post 05/04/12, 01:18AM

Rss10 Contractors

121 topics, 666 posts — Last Post 05/08/12, 03:20PM

Local Real Estate

International Real Estate

Local Real Estate

Rss10 Local Real Estate Networking

612 topics, 3434 posts — Last Post 05/24/12, 02:08PM

Rss10 Americans & International Real Estate

139 topics, 505 posts — Last Post 05/20/12, 02:00PM

Rss10 Foreigners Buying in the USA

56 topics, 288 posts — Last Post 05/02/12, 07:54PM

Rss10 Canadian Real Estate

26 topics, 130 posts — Last Post 03/19/12, 05:58PM

Marketplace

Real Estate Marketplace

Rss10 Mortgages & Lending

392 topics, 1757 posts — Last Post 05/20/12, 03:10AM

Rss10 Residential Property, Land, & Farms For Sale

760 topics, 1463 posts — Last Post 05/24/12, 06:58PM

Rss10 Real Estate Events & Happenings

118 topics, 505 posts — Last Post 05/07/12, 10:07PM

Rss10 Commercial Properties for Sale or Lease

224 topics, 671 posts — Last Post 05/25/12, 08:42AM

Rss10 Domains & Website Reviews

48 topics, 391 posts — Last Post 05/25/12, 07:07AM

Rss10 Classifieds - Promote your Website, Newsletter, or Product

595 topics, 2801 posts — Last Post 05/23/12, 06:42PM

Off-Topic

Off Topic

Rss10 Off-Topic

1866 topics, 19997 posts — Last Post 05/25/12, 08:12AM

Rss10 Housing News & Real Estate Market

666 topics, 6615 posts — Last Post 05/09/12, 03:11PM

BiggerPockets Resources

Forums » Short Sales » High End Short Sales

High End Short Sales Subscribe to High End Short Sales

7 posts by 5 users

Signup

Luiz Souza

Wholesaler · Gainesville, GA


Forum_avatar_avatar-lsouza

Apr 06 '11, 11:10 PM

Is anyone here dealing/making money with high end properties?
If so, can you please share your exit strategy.....

Thank you

LSouza


Jackie Patterson

Real Estate Investor · Kalamazoo, Michigan


Forum_avatar_avatar-jackie1224

Apr 06 '11, 11:21 PM

The exit strategy is no different than it is for a less expensive property......you just have a smaller pool of buyers that can afford the home. However, you don't have to deal with FHA buyers which is a plus. Just remember that your costs are going to be higher....closing costs, carrying costs, unpaid back taxes, etc.


Luiz Souza

Wholesaler · Gainesville, GA


Forum_avatar_avatar-lsouza

Apr 06 '11, 11:38 PM

The strategy has changed for me these last few yrs... No more Land Trust and flipping ( back to back) to a buyer bringing finance is close to impossible these days....
I don't have the means or intentions to hold any high end property...I guess the million question is.. how do you find or line up your high end cash buyers????

Thank you

Souza


Michael Allan

Real Estate Investor · Tampa, Florida


Forum_avatar_avatar-michaelallan

Apr 07 '11, 02:22 AM

I think that Jackie is correct with her statement that the basis of the strategy should remain the same as it is for your smaller deals. As you mentioned, try to stick with cash buyers as jumbo loans are tough to come by. I know in Florida the cash buyers for their properties are all over the place since a lot are in town to escape the cold northern winters, in the mean time scooping up some good deals for investment or 2nd home.


Ryan M.

Real Estate Consultant · Madison, Wisconsin


Forum_avatar_avatar-brickstonegroup

Apr 07 '11, 03:13 AM

Also keep in mind that many of the high end bank owned or short sale properties were so overpriced that your acquisition price might still be too high to turn it in a short time frame. Plus if you were to end up in an extensive holding period it is not easy to rent luxury homes.

Ryan


Duane Ortega

Private Money Lender · Howell, New Jersey


Forum_avatar_avatar-duaneo

Apr 07 '11, 03:56 AM

Luiz,

Regarding back to back, you can still do them with revocable living trusts which are a bit different from land trusts.

I fund clients who do these back to backs even to fha buyers.

So if you find buyers who qualify for a loan, this would be a good strategy to go with.

Contact me if you have any questions.

Thanks,
Duane.


Luiz Souza

Wholesaler · Gainesville, GA


Forum_avatar_avatar-lsouza

Apr 09 '11, 01:01 AM

Hey Duane..Understood!!

Back to back funding is not a problem, the problem is that Title Cos.nowadays are running away from any kind of trust because in a SS this type of trasaction is or seems associated with fraud and I'm not getting involved with that. I guess the million dollars question remains...How to get cash buyers for High $$ properties ???

Thank you

Souza




Sign up