Posted by: The King ®
09/11/2003, 10:31:12
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You will not get an argument from this King. I am not out selling courses on short sales. FYi: Historically, creative real estate gurus who chose to sell the "hottest new technique" are notorious for conveniently leaving out that one all-important issue....like seasoning. While it may be true that it is difficult, even impossible to do a deal such as this with lightening speed and without cash, a deal with $35,000 built-in profit is usually doable....some way...some how. Remember: When the deal is right, the money is never the problem. I mean, why can't your $115k buyer just buy the conventional way? (Seasoning is only an issue when refinancing.) And btw, is the profit really $35,000? (I subtract $85,500 from $115,00 and I get 29,500.) But anyway, even $30,000 is a respectable profit, enough to compel one to take a risk. And finally, if the discount is as good as you say, bring in a partner to refinance it...give your buyer a rent-to-own deal and then split the resale profit in one year once the deal is seasoned and the buyer can refinance.
The King
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