Student Wisdom #23 - Tips For Short Sales - With Joe Jurek

Get your wisdom on with this week’s amazing student wisdom video from the man Joe Jurek! Joe is here to share some great info on "Short Sales".

What is a short sale and why are they worth it. Joe's "nugget" of wisdom may change your mindset if your are steering away from making offers. Don't miss this opportunity.

Joe is one of our top contributors on Insider Elite - For Investors by Investors and we thank him so much for his weekly and sometimes daily motivation and wisdom.

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Short Sales across the USA

Joe Jurek's picture

One of the keys for building a successful real estate business is to generate leads through various different ways. You need to do the things that other investors in your area are not doing. Here are also a few keys to remember:

1. Real Estate Investors stay positive in everything you do. If you work hard at this, network and build your business anything is possible. I still buy directly from local banks so banks are not all bad Smiling Also there are other investors in your area that are buying short sales today. Ask your Realtor to pull sold comps for short sales in your target market areas to review the stats of these active and sold propertiess.

2. As I travel the USA I meet real estate investors in many states that benefit from the patient waiting game of real estate short sales. Short sales are anything but short, in most cases but if you find a deal where the bank and owner approved the sale price but the buyer has moved on, it can be beneficial to run the numbers on the property to confirm if the numbers work and it is a deal.

3. We are the Buyer and not the seller. The seller needs to evaluate their options and determine what is best for them. If there is a deficiency when the seller sells the house they should completely understand and receive legal and tax advice of whether they live in a deficiency State in the USA vs. a non-recourse State in the USA, as well as the impact of any IRS tax implications.

4. Lastly, it is so important that real estate investors do the things that other investors do not want to do to generate leads for deals. If you do the things today that others are not doing, then tomorrow you can do the things that others only dream about doing! - Believe and Achieve!

Be positive and go make it a great day by doing one thing that others in your area are not doing. Believe and Achieve! Smiling - Joe

Why delete the post?

Someone could have rebutted if it was truly erroneous. Downplaying certain realities is a disservice in my opinion.

Great nugget

jackk09's picture

Great nugget about being the go to person when an offer falls through! LOVE IT!

short sales

Joe, That was totally cool mini education on short sales for us to know.

Thank you!!

LL Southern California

So True

Hi Joe,
You are so on the money as always. That was exactly how I found my family home in Atlanta Ga. A short sale deal fell through. My realtor was waiting in the wings. My offer went in immediately. Within a day, seller accepted and soon after bank accepted. Everything was closed off in a month's time. I was as happy as ever. I love my purchase. I am fixing it up little by little and looking for another deal in the area of zip code 30296 as investment, but only willing to spend 30k or less. Therefore sometimes buyers think because they say it could take a year, it does but that is not the case. I am glad you have done this post, I enjoyed listening.

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