Friday, March 25, 2011

Real Estate Short Sales

I can no longer remain silent on this

Jerry is a gray haired older guy who put
everything he had into his company somewhere
like Chicago.

Chicago, with its freezing biting wind and
constant snow and long dreary winters.

Jerry slaved over a fairly high paying job
and managed to invest in real estate when it
was REALLY going up.

And he finally retired and said "I'm moving
to Florida."

And he had about $2 million of life savings
and he wanted to invest in something that
would provide him a comfortable almost boring
and almost guaranteed $8K or $10K per month.

WITH capital gains.

More on Jerry in a moment...

There are some so-called gurus out there who
are peddling irresponsible wares and I can no
longer remain silent about it.

These folks are telling you about how easy it
is to do commercial short sales.

They are NOT easy to do. They are not
impossible, but they are not EASY.

I'm not happy with so-called gurus who say
they ARE easy when they are NOT.

Yes, commercial short sales are lucrative in
the right circumstances.

But most real estate investors including
advanced people would be very hard pressed to
do a commercial short sale and make clams at
it.

There are too many difficulties, too many
moving parts.

So people think it's THEIR fault when they
get a course on commercial short sales
and don't do anything with it.

The truth is VERY different. And there
is something here, something BIG, but
it IS NOT what the so-called gurus are
telling you it is.

Thankfully, it's much EASIER and even
a young kid out of high school with a
full time job at Mickey D's can do this
and do VERY well with it (maybe an
extra $3K or whatever a month or
maybe a lot more. Of course most
folks will sit on their buttuzskies and
make zero.)

So back to Jerry. Jerry invested in a good
high end apartment complex in a great area.

He put his $2 million down and borrowed
$3 million.

A conservative LTV of 60%.

What happened next was a shocker. And it's
on this video.

And it's HUGE.