Short Sale Success

[Tara L.]

ALL:

Good morning. What's the deepest discount you received on a short sale? Was the property in pretty bad shape, or was it fairly decent? What was your exit strategy, and how much total profit did you receive from the deal from start to finish? I've heard of people receiving HUGE DISCOUNTS on properties and turning around and either rehabbing the property and making really good money ($40,000-$60,000+), and then I've also heard of people making over $200,000 with wholesaling a single short sale they received at a huge discount. If you're structuring deals of this nature, or even on smaller scale but have a good return, I'd love to read your stories and find out the steps you've taken throughout your investing career to master the art of short sales. I've been researching online and of course I come across some of the gurus and their success stories, but I would really like to hear success stories from the BP community.

Thanks in advance for your response, and I hope you enjoy your weekend :)