OfflineIn Deans Book He teaches to talk to home owners that are in default and negotiate with the bank to buy the property before it goes to auction.
I live here in phoenix and have developed a relationship with some investors that buy off the court house steps (at auction).
One said that the was an old technique from about 5 years ago.
My question is, does it still work?
My job requires me to check up on houses that are going into default I'm talking 50 houses a day here in northern PHX if i can help them, that could meen some real $$.
But If its a lost technique I dont want to waste my time.
Let Me know what you think & Your opinions
THANKS
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If he is saying short sales are an old technique he is crazy. I challenge you to find anyone who did a short sale before 2007. They were almost unheard of in most parts of the country until 2008.
Buying at the courthouse steps is the "old" technique. In my area, so many are underwater that the courthouse properties almost never are sold to investors. The bank just takes them back and they go REO.
Short Sales are slow and a pain in the neck, but there is certainly money to be made and they aren't going away any time soon.
Nationwide Transactional Lending at 1.5 points flat fee.
Chicago-area Hard Money Lending.
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I need all the insight i can get,
Has anyone done a short sale like dean talks about?
If so how long does it take, Dean makes it sound so easy, like its just a call and its done.
on a different note,
Whats every ones opinion on the banks putting a hold on foreclosures & what do you think its going to do to the investment community?
I have never read anything Dean has written but if he makes SS sound that easy, I am not impressed.
It isn't easy.
The hold on FC is meaningless to an individual investor. Just keep working. It is only temporary and there are thousands in the pipeline.
Nationwide Transactional Lending at 1.5 points flat fee.
Chicago-area Hard Money Lending.
www.NorthSideFunding.com