Real Estate - Can we talk short-sales?

MiamiE · 04-07-2011, 03:57 PM

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.

04-07-2011, 03:57 PM	#15
MiamiE I'm nuts for the place Join Date: Feb 2009 First Name: Erick Location: Miami, FL Posts: 2,892 Trading: (38)	Re: Real Estate - Can we talk short-sales? 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.