How about this?????

Question

i wanted to ask about something that another invester told me. You know how you see signs around saying " we buy houses " ?? well he said he is one of those people and what he does is find people that needs to sell their house then go to the lender to get the price reduce then find a invester to buy it from. I guess he is kind of like the middle man. Is this a good thing to start out at while building credit for my business ????

N/A N/A · Answer

What you are referring to is called a short sale.

Here is a really short version of what that is:  http://www.ehow.com/how_8132_short-sale.html

You should definitely find a good book on the subject and do more reading if you want to try that technique out.

Randall Mixon · Answer

I do these by using a nonexclusive Option (since I don't take the property off the market, I don't have to pay large deposits).  When I find a Buyer, I get a Purchase Agreement and nonrefundable earnest money.  Then I give my Seller half the earnest money and a Purchase Agreement and take it off the market.

Ryan Webber · Answer

On a complicated post, I always use the "Preview" button right next to the "Submit" button to look at exactly how my post is going to look before I do it.

Also, you can go back and edit your own posts.  The "edit" button appears on the top right side of your post.  I fixed it for you, Charles.

N/A N/A · Answer

thanks for the response..... keep em coming

Ljay Jones · Answer

being as I used to do this method, what I will tell you is go and find buyers by whatever method you who have and see what the response is like in your town, from the number of people calling or contacting you to sell you their house it will tell you if this is a good way to start or not.

Matt H · Answer

I don't think it's a great way to get started. It's better to just be looking at properties by way of the MLS that you could buy for cheap and flip. Rather than having to wait until a seller eventually approaches you. Because there's plenty of sellers on there that are equally as desperate and have to sell right away. Do you a few flips that way you can raise some capital to start investing in rental properties.

Tom McGiveron · Answer

stream,

set your mind to something and stick with it whatever you do.

if you don't, you'll start posting about every new thing you learn and never do any actual re investing.

many people discuss wholesaling to start out, sort of "get the feet wet" approach because it's "low risk", meaning, you're not actually buying the real estate. you're contracting to buy it and then "wholesale" it to another investor/buyer.

short sales, from what little i know, are not easy - but then again, not much in this world is.

stick to your guns, keep forging ahead soldier!!   :D

Ryan Webber · Answer

The part about selling it to another investor is wholesaling.  And as Rich pointed out, working with the lender to discount the note is called a short sale.

In general wholesaling is an effective technique to build capital with low risk and low starting capital.

Doing short sales is an effective technique in finding deals, but requires some extensive knowledge of the process of foreclosures and lenders.  It also requires a good amount of time investment to get done.

N/A N/A · Answer

Wholesaling is a GREAT way to make money in Real Estate.

Learn it, use it, and make money.

Best of luck,
Jeremy Blunt

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