Short Selling 101 - What All Great Resellers Have in Common
Hot News Concerning the Commercial Foreclosure Goldrush So you've heard that even in today's real estate market, you can make money hand over fist? There is certainly something to that claim.
Up or down, the flow of money through the real estate market is a lucrative opportunity for anyone with the courage and savvy to claim it.
First, there are several things you need to know about today's real estate techniques, or "short selling" as it's known now.
Commercial Short Sales in a Nutshell The first piece of information you need concerns short sales themselves.
All short sales follow the same basic pattern.
In essence, the lender and owner of a distressed commercial property decide to sell it at an overall loss as an alternative to going through a messy foreclosure business.
With properties hitting foreclosure left and right in the current real estate market, there is considerable incentive for banks to accept this loss wherever they can manage it.
Then whoever buys the property can either use it themselves or turn around and sell it at normal retail prices.
This isn't the whole story of course, but hundreds of these transactions occur daily under similar circumstances.
Details about Selling Bank Owned Properties There are other things that successful real estate dealers have in common as well.
First, they know how to network.
As a newcomer to the short selling business you'll have to make these connections swiftly and efficiently.
And you'll have to look off the beaten path as well.
Another thing success stories all share: the person in question is knowledgeable about all aspects of the commercial foreclosure transaction, especially the relevant legal structures.
One misstep can cost you thousands of dollars of fees, so you'll need a level of foreclosure law knowledge that rivals a lawyer! Finally, all great real estate dealers accept risk as part of the business.
Failure does happen, and when it does you must not only be able to mitigate it (otherwise known as picking the best of two bad options), but also to learn from it in future transactions.
Reviewing the Training Courses Education is also a crucial component of living the real estate success story.
Many former real estate agents offer training courses in short sales due to popular demand.
Some are scammers, others simply seek to profit from their knowledge in a low-risk setting (eg, selling it).
The difference between a scammer and an honest educator is their openness about their course before you become their student.
Learn as much as you can on free sources from the internet, then quiz your prospective educator about some of the finer points.
If they just direct you to their training course, that is a sign to steer clear.
Do all your research before hand, and you can be another successful short sale expert! Copyright (c) 2010 Jack Bosch
Up or down, the flow of money through the real estate market is a lucrative opportunity for anyone with the courage and savvy to claim it.
First, there are several things you need to know about today's real estate techniques, or "short selling" as it's known now.
Commercial Short Sales in a Nutshell The first piece of information you need concerns short sales themselves.
All short sales follow the same basic pattern.
In essence, the lender and owner of a distressed commercial property decide to sell it at an overall loss as an alternative to going through a messy foreclosure business.
With properties hitting foreclosure left and right in the current real estate market, there is considerable incentive for banks to accept this loss wherever they can manage it.
Then whoever buys the property can either use it themselves or turn around and sell it at normal retail prices.
This isn't the whole story of course, but hundreds of these transactions occur daily under similar circumstances.
Details about Selling Bank Owned Properties There are other things that successful real estate dealers have in common as well.
First, they know how to network.
As a newcomer to the short selling business you'll have to make these connections swiftly and efficiently.
And you'll have to look off the beaten path as well.
Another thing success stories all share: the person in question is knowledgeable about all aspects of the commercial foreclosure transaction, especially the relevant legal structures.
One misstep can cost you thousands of dollars of fees, so you'll need a level of foreclosure law knowledge that rivals a lawyer! Finally, all great real estate dealers accept risk as part of the business.
Failure does happen, and when it does you must not only be able to mitigate it (otherwise known as picking the best of two bad options), but also to learn from it in future transactions.
Reviewing the Training Courses Education is also a crucial component of living the real estate success story.
Many former real estate agents offer training courses in short sales due to popular demand.
Some are scammers, others simply seek to profit from their knowledge in a low-risk setting (eg, selling it).
The difference between a scammer and an honest educator is their openness about their course before you become their student.
Learn as much as you can on free sources from the internet, then quiz your prospective educator about some of the finer points.
If they just direct you to their training course, that is a sign to steer clear.
Do all your research before hand, and you can be another successful short sale expert! Copyright (c) 2010 Jack Bosch
