January 2016 Central Jersey Meeting - CJREI
6 Replies
- 01/28/16 06:15PM
- Red Bank Public Library
- Free
Disclaimer: BiggerPockets does not support or sponsor any meetups unless otherwise noted. Do your due diligence before attending any events. You may be agreeing to attend an event that includes promotion, pitching, or high-pressure sales tactics or techniques. Poster certifies that there will be no pitching of products or services at this event.
Overview
This month's topic will be Short Sales. Our guest speaker will explain what a short sale is and what it is not, along with the process, and the incentives for each party involved.
Schedule
6:15 Meeting Starts / Open networking
6:45 Announcements and Introduction of Group Members
7:00/7:15 Main Meeting (presentation)
8:15 Open networking time
8:40 Wrap up
Main Meeting
Our guest speaker, Eric Einholz is himself a member of CJREI. In response to feedback received from the group at our December meeting, Eric has been invited to speak this month about short sales.
Previously Eric worked as a Respiratory Therapist and owned a medical staffing company. His real estate experience includes rental properties in three different states, wholesaling, rehabbing, note investing, and of course short sales.
Short sales occur when a homeowner debt exceeds the homes value. In other words, they owe more than they can sell their home for. Eric will explain how this can happen, who the various involved parties are, and provide some insight into the perspectives of each party. For instance, if you were the lender why would you be willing to accept less than what you're owed?
Eric will also discuss how investors such as wholesalers can get involved with short sales as a way of generating a profit. He will also provide examples to help drive home the point and make the concepts discussed more easily understood.
According to CNN, in 2012 short sales accounted for 32% of all home sales. Thus it's not surprising that many real estate investors got involved in them. Though they may not be as common as they were just a few years ago, they still have a place in today's market. So, join us this month to learn how they work, "the good, the bad, and the ugly" of short sales, and if they can work for you!
Location
The meeting will take place at the Red Bank Public Library. On the menu bar above, click "Pages", then scroll down and click on "Red Bank Public Library" for details, pictures, and information on parking.
We will however not be in the downstairs meeting room this month. We will instead be upstairs in the Eisner Room. When you enter the library there is a set of stairs just to the right of the front desk. Proceed one flight up to the door on your left.
There is no admission fee for this meeting. We still however ask that you please RSVP in order that we can have an appropriate number of seats and if applicable other materials available.
Misc.