Short Selling Roundup

Real estate short selling or ‘loss mitigation’ seems to be in the news these days. In a nutshell this is a play involving talking a bank into selling a distressed property at less than what is owed so that the bank suffers a smaller loss than it might in foreclosure and the buyer gets a bargain. CRE Online has an article that outlines it: ‘If you are new to real estate investing and wondering what real estate short sales are: A short sale means getting the bank to accept less than what is owed as payment in full. For example: You find a homeowner in distress who owes $100,000 on a property that is worth $100,000. What do you do? Most real estate investors walk away–unless they know how to use a short sale…’

Continue reading “Short Selling Roundup”

Rich Dad: Find Great Real Estate Investments

The Rich Dad site has a great article by Kim Kiyosaki: ‘…Start with a small property � a single family home, a duplex, or 3-plex. Invest a lot of time and a little money in your first deal. Mistakes are part of the process, and you should expect to make them. With each mistake, you become smarter and your next investment easier. So make your mistakes on small properties, learn from the mistakes, and then move on to larger properties. This is also why you want positive cash flow properties: The cash flow can buffer the mistakes you�ll make along the way…’