Real Estate - Can we talk short-sales?

[MiamiE]

It is a pain in the ass. I went through this crap a year or so ago, and wont do it again. A lot of what has been said, I wish I had read a long time ago. Point being, they did me a HUGE favor. I didnt buy, and wont buy for the foreseeable future. The market in Florida hasnt hit bottom yet, and I was going to be stuck in something still depreciating. Brent I am assuming you're buying properties as investments. You have more experience than me, but why not put a little less down payment and take the hit on the interest rate, being the property wont be around in 5 years. Assuming your plan is to renovate, rent, and flip. If not, disregard.

[jmsremax]

Originally Posted by MiamiE

You have more experience than me, but why not put a little less down payment and take the hit on the interest rate, being the property wont be around in 5 years. Assuming your plan is to renovate, rent, and flip.

This is how we got into this mess in the first place. People got stuck with properties for longer than they anticipated and ended upside down or in foreclosure.

[Smokin Gator]

Originally Posted by MiamiE

Brent I am assuming you're buying properties as investments. You have more experience than me, but why not put a little less down payment and take the hit on the interest rate, being the property wont be around in 5 years. Assuming your plan is to renovate, rent, and flip. If not, disregard.

E... I don't buy to flip. In fact I have not sold a property since 1984. We buy them cash, do any renovations that need to be done, and then rent them out.