Being Short Ain't So Bad

Being short can be tough. You can't see over things and in large crowds. You need someone to let you sit on their shoulders if you want to watch the parade. It's a tough life being short! Unless you're this kind of short...

I've been a traditionalist most of my real estate investor life. I find foreclosed listings, make a low offer and dicker-n-bicker until I get what I want or until I'm forced to move on. But lately a new strategy has caught my eye and some folks that may be way brighter than me have got me to thinkin'! .....hmmmm.....

There are many ways to purcahse properties at a discount. One way is the short sale process. If you are not familiar with short sales, you need to get educated. A short sale could be an additional strategy you use to locate opportunities.

Remember that historically the real profits in real estate are generated at the purcahse. Then more profits are generated over time. You should also deploy as many strategies as possible to locate properties that you can purchase at a huge discount.

One of those strategies should be the short sale strategy. So what is a short sale? Simply put, a short sale is when you, the investor, get a lender to agree to take a payoff that is less than the what is currently owed on the property.

Now there is a process and you must understand the steps in the process in order to be successful. I suggest investing in a course about the process. They should give you the contracts and scripts you need to make deals happen.

You can find courses at most real estate investor associations. Some real estate schools even offer courses on how to be successful in this lucrative field. So in this case, if you are a real estate investor, being short ain't so bad!

Michael Gross is the President of Dividend America Mortgage and has been in real estate for over 20 years. He has been a builder, a Realtor, an appraiser, and currently he is a lender and an active real estate investor. He uses all of his experience and knowledge to show individuals how to properly use a mortgage as a tool to help create greater wealth through real estate investing. For more information on residential and small commercial loans please call 770-350-7373 or email mgross@dividendamerica.com