But in real estate, that isn't enough to catapult you ahead of the rest of the pack.
Many others in the real estate investment business try the same things, after all.
So how exactly can you pull ahead and make the real profits when everyone else is fighting to do the same? What Drives the Market for Bank Short Sales The first, and most effective way to do so is to simply outmatch your real estate competitors--in knowledge, and in persistence.
This is a fine way to get ahead, but there are no clear paths forward.
Knowledge spreads by its nature, and what is a trade secret one second can get blown wide open the next.
In addition, if you are learning everything about foreclosures and commercial short sales on the fly, you are naturally in a worse position than someone who has been playing the market for years.
So as contradictory as it may appear, it can pay to play real estate investment markets in which even the experts have trouble accurately reading, where your knowledge matters less than your ability to act quickly and jump on deals before everyone else.
Moving fast is in general good advice if you want to shift a lot of short sales as well.
Tricks to Remember When Dealing with Bank Owned Properties And don't leave lenders out of the equation.
They are looking for two things: first, to get the bad properties off their books, hopefully without a messy foreclosure process.
Second, they don't want to get stuck with any failed deals which tie up their credit lines further.
If you plan to flip a bank owned property without buying it using MLOs, you'll need the lender to remain consistent.
Otherwise a buyer can outbid you on the commercial short sale, either with a better offer or just by offering a more secure deal by having a secure line of funds.
Either move to secure funds yourself or raise the stakes (and possibly accept early losses) Lastly, a Word Finally, a general piece of advice.
Everything that you observe a competitor doing is something that you can do too--that is the only way to remain ahead.
Study carefully the market and all of its tricks while your own name is too fresh to garner much attention.
That way when you become successful, you can maintain your lead over everyone else! Copyright (c) 2010 Jack Bosch