Buying a Texas Short Sale Requires Patience and Capital and an Investor
There is absolutely no doubt that you can make a killing in Texas foreclosures and Texas short sales right now. However, even if you have good credit and sufficient capital, you still need to have the patience and maturity to hang on to your purchases so that you can eventually realize a profit from buying up short and home foreclosure properties.
So many Americans are putting their homes on the market as foreclosures and short sales that there is a real bonanza available in terms of residential properties. As the real estate market tanks, many, many people are putting their homes on the market as short sale properties. This presents real opportunities to investors interested in buying a short sale, but it also puts a surplus of properties on the market, which has the effect of driving prices down. This is a problem if you want to buy a short sale mortgage and then turn it over for a profit. However, if you have patience, you can turn a profit in the next three years or so. You've got to be patient to make money in the current turbulent short sale market.
But if you are a real estate investor you can make a profit in this market by negotiating directly with the lender and then reselling the property at or below current market value. This way you insure you receive a profit and your end buyer will get a very good deal with built in equity. Realtors should always consider working with investors in short sale situations. It is a WIN-WIN-WIN for all parties involved.
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