OfflineNow, I am a new investor, as most of you know. I was thinking of how to maximize the potential on a short sale assignment.
Now, I know that there may be several reasons why this won't work, and that's why I am throwing it out there for the more experienced investors to take in, and express their thoughts.
Is it possible to team up with a bank, by explaining your business model and asking them to work with you on the short sale prices in exchange for you finding buyers immediately?
I was just reading an article about how Bank of America is demolishing houses, so why wouldn't a bank in this situation want to work with someone, or even a network of people to get these REO's off their inventory. Maybe this is something an investor or a group of investors could negotiate.
Maybe these banks could just list them really low and solve this problem themselves. I don't know, I'm just throwing an idea out there
That being said, I welcome any ideas or opinions. Maybe this is absurd, or maybe it could work.
Thank you for your insight,
Ben
Thanks, Ben
My impression of banks is they are only interested in keeping their books in the black. The only thing a person can do is ask and the worst that can happen is they will say no. If I were you would get my investors lined up and have a business plan to give to the bank officer and see what happens. I hope everything works out for you.