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

Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateSep 24th, 2009 | 4 responses

I don’t know about you, but I am going to get sick to my stomach if I hear another “Internet Guru” tell me why investors fail! Listen in as I give my opinion to this and you won’t believe what it is! I also cover some great questions from you Coffee Breakers. Listen in as I go over 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, the best way to get around FHA’s 90 day seasoning requirements, and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos and articles.

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4 Responses to “Aren’t You Sick of “Internet Guru’s” Telling Us Investors Why WE FAIL?”

1. Rich says:

   September 25, 2009 at 12:46 pm

   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?

   Reply
2. Rich says:

   September 25, 2009 at 12:48 pm

   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.

   Reply
3. margaret says:

   September 25, 2009 at 1:25 pm

   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

   Reply
4. margaret says:

   September 25, 2009 at 1:37 pm

   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.

   Reply

About Me

Patrick Precourt is one of the most successful preforeclosure investors in the Northeast and across the nation. He started in the preforeclosure business in the late 90’s. In 2002, he founded North Shore Enterprises, a professional real estate investment company specializing in preforeclosure and short sales. Since then his team has completed well over 500 short sales and will pass the 600 mark in 2009.