All Forum Posts by: James Hobbs

Hey Ken,

Anytime you can put in a click-able link, I say do it. You can always put the phone number as well.

As a general rule, the more ways you can be contacted the better. The only sure way to know for specific situations is by testing.

Alex,

Thanks for the heads up. Way cool...

Hey Joshua,

I found figures for new home sales for 2009, still looking for total RE sales. New homes is at 374K, compared to 485K for 2008.

Do you want total commercial and residential sales, only residential, or what?

http://www.census.gov/const/newressales.pdf

Thanks, guys. Lotsa good stuff here...

You guys rock! Enough info in here for about 2-3 articles, at least!

Pure gold, J.

I appreciate your original posts and your follow-ups.

As you said, due diligence is key.

Again, thank you for the info. :D

Hey Edwin,
Check out
this thread

Hope this helps

Hey Paul,

Check out
this thread:

Hope this helps,
James

Hello,

I am here doing research for a client's blog as well as enhancing my own education in real estate investing. Always been intrigued with the subject, but never really did any serious investing.

Now I want to take it to a deeper level and start doing some hands-on experiencing of this thing. Think I'd like to start with bird-dogging to get the ball rolling (hopefully downhill).

My question is related to short sale flips. I've heard both sides of the issue. One RE lawyer I know of says it's no different than a wholesale flip except that instead of paying the seller's lender in full, you are paying the seller's lender with a discount.

The other side says there is a legal and ethical obligation to fully disclose to the seller and lender that you (the investor) are making a profit on this short sale...

Isn't that what RE investors do-- make a profit (hopefully)?

I can see both sides, and I have no issue with full disclosure, but is there something inherently wrong with the strategy itself, either from a legal or ethical standpoint?

Here's the technique in a 'gun shell:

1) Investor signs a contract to buy a house from a seller who is behind in payments.
2) Investor contacts seller's lender to negotiate short sale
3) Investor gets lender to approve short sale
4) Investor lines up back-end buyer
5) Investor closes with seller, paying off lender, then resells to back-end buyer in simultaneous closing for a profit.

What do you say about it?

Thanks