Can I do Foreclosure Short Sales without Money? - Posted by Jacki

import · September 20, 2003, 9:32pm

Posted by Karen on September 22, 2003 at 14:10:44:

Ben… How do you do this with no money. I’ve done it it but always with $… I sure would like to save my $ if I can. Please Share.
Karen

import · September 20, 2003, 9:32pm

Posted by Jacki on September 20, 2003 at 21:32:28:

Can someone with no money and no experience do foreclosure short sales? I’m thinking about attending the teleseminar and I don’t want to waste my money if I’m not gonna be able to do these deals with no money.

Thanks a bunch!

import · September 22, 2003, 7:51am

Of course - Posted by Ben (OH)

Posted by Ben (OH) on September 22, 2003 at 07:51:19:

I do it all the time.

import · September 21, 2003, 2:52pm

It’ll be very tough - Posted by MoniqueUSA

Posted by MoniqueUSA on September 21, 2003 at 14:52:22:

Jacki,

Buying pre-foreclosures is not the easiest place for a new investor to start. Add to that negotiating short sales, and it becomes even more difficult. Not impossible, but certainly not simple or easy.

I’d say learn more about what short sales are (by reading here for FREE). If you run up on a deal that looks like a good potential for doing a short sale, you might be able to flip it someone who has the cash (or access to the cash) to close the deal.

No money and no experience …

Consider referring deals to other investors (often for $500 to $1000, depending on what you negotiate)
Consider wholesaling deals to other investors once you have the contracts and a bit more experience

Do a few of these to build up your cash and experience.
Then, you can focus on doing deals that you’ll keep for yourself.

MoniqueUSA

import · September 21, 2003, 12:52pm

Re: Can I do Foreclosure Short Sales - Posted by John Sterling

Posted by John Sterling on September 21, 2003 at 12:52:04:

I would guess, to some degree, that quit frankly, that any thing is possible? But for the most part, no money, no credit, no experience, no track record will probably lead to only one result? What do you think?

Develop a plan, Make a friend, Arrange the financing, have an exit or out and work out the problems as far as you possibly can. The actual experience will be worth 10 times the effort in future results?

John