What Are Realistic Numbers For SS Profit?

Comments(6)

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  TheShortSalePro19th July, 2004

  There is no way to responsibly answer your question since individual investment/speculation goals and exit strategies vary.
  
  I believe that shorts are most profitable when property in need of repair is purchased below the as-is, fair market value... then value added repairs/restorations are installed increasing the property's market value.
  
  The sows' ear into silk purse concept. The sky is the limit.
  
  Aggressive deal finding should be buffered by a comprehensive prequalification process that helps to assure a smooth and profitable transaction.
  
  Have your team in place.
  [addsig]

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  SSJustin19th July, 2004

  I'm not looking for exact numbers here....just a general guideline and different people's opinions. Take, for instance, what is YOUR personal guideline as to minimum profit, and number of deals??? Just curious.
  
  Thanks

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  TheShortSalePro19th July, 2004

  I recommend that you keep your options open.... sure it's good to learn about preforeclosure short sale techniques...but I would never seek out a short sale in favor of other, conventional, more user friendly acquisition opportunities...
  
  
  [addsig]

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  SSJustin19th July, 2004

  okay, i think you read between the lines and saw what I was getting at.
  
  so you dont feel making short sales a major part of my rei is a good idea?
  
  I was planning on doing short sales to raise cash to purchase keepers that I will rent out.
  
  Is there a better way that you feel I should approach this strategy?
  
  thanks
  
  anyone else's input on this would be nice

• 
  TheShortSalePro19th July, 2004

  For the bulk of your focus/activity to be on the shortsale niche, you need the ability to purchase the shorted property, effectuate repairs, and resell.... and repeat the process.
  
  The idea that you can go into contract and consistently flip or double close for profit isn't realistic...
  
  For a speculative investor to be successful (and working) he/she must be familar with many acquisition techniques... learn how to identify potential deals, and how to best exploit those opportunities.
  
  Shorts are but one method. Learn to short, and you can work deals that others pass over... especially useful when there are more speculative investors than solid opportunities.
  [addsig]

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  SSJustin19th July, 2004

  thanks for setting me straight!