All Forum Posts by: Ben Jones

So I did some research basically it is a technique that can save the sale, commissions for agents and net you a good sum as well. You'd need to work with an agent to identify pending short sales that are within 30-60 days of foreclosure sale and working with the listing agent to explain that it is an extra tool they can use to save their commission if the sale at the bank appears in trouble. Takes some educating on your part but you basically buy the house at auction, sell at the same price already agreed upon by the buyer using their non-refundable earnest money, and whatever additional funding needed to make the purchase. Object is to get the home at a large enough spread to pay the investor, commissions, closing costs and of course, whatever you determine your cut to be. I.E. a short sale with contract for 350,000 falls through...you buy through the auction at say $1 over minimum which turns out to be 291,000. The 59k minus all expenses is yours because the buyer has a contract on the house for $350K. Do your home work on seasoning requirements, have inspections/appraisals done beforehand paid for by buyer and disclose, disclose, disclose.

He said he is focusing on higher end homes so the buyer is more motivated to stay with the house, because it is there dream house. I just wanted to see if this venture is plausible.

My friend is a Cody Sperber clever investor student he was trying to put me on to the idea I'm very skeptical and wanted to know if anyone has actually done one of these deals ?

So I recently came across a new way to make money in real estate it's called a reverse short sale. Basically in a nutshell we would wait for a short sale to fall apart and then after that happens we would go to the auction purchase the house and sell it back to the original owner who originally was about to purchase the house.

I am recently starting my LLC and was going to focus more on the wholesaling side of real estate but after doing more research on bigger pockets and other sites I came to the conclusion that there is not a lot of money to be made wholesaling. Can someone weigh in?

Originally posted by @Lee W.:

Jacob   drop me your e-mail and I will get form to you   good luck

 I Would like access to the forms as well