Comments on: Aren’t You Sick of “Internet Guru’s” Telling Us Investors Why WE FAIL?

By: margaret

margaret — Fri, 25 Sep 2009 18:37:51 +0000

Also, Pat- You say not to buy anything you don’t want to keep. If I want to keep, I’ll buy to keep- the world is my oyster out there. I am doing this for one reason only- to make an income. IAfter months of hard work, I need a pay day. How can I not sell the house- within those 2-7 back-to-back days, if my money is, say, $200,000 borrowed on a “dough for a day” balloon and rate? Whether I like the house or not- whether it would be a cash flowing rental or not (and that would take a separate analysis, presumably an extra step up front in the evaluation of the deal)- it certainly can’t be bought long term with cash for a day money.

By: margaret

margaret — Fri, 25 Sep 2009 18:25:37 +0000

Like Rich- I want to hear some discussion on that point- Perhaps Pat can go even further with this idea of walking away. Tell us the scenarios which might appear- and/or have appeared- where it is decision time, and what is the deciding factor in that decision. We know that at all pints along the way, the short sale path, and especially our path with a need to have a decent spread of profitability- is fraught with danger!
Thanks, Pat

By: Rich

Rich — Fri, 25 Sep 2009 17:48:05 +0000

You are so right about the guru issue. Discipline and knowledge is what wins the game every time, not gimmicks. Very salient and timely point.

By: Rich

Rich — Fri, 25 Sep 2009 17:46:22 +0000

What happened to the question about whether or not you should walk away from a short sale deal if your short sale gets accepted but you can’t find an end buyer?