The “Real” Advantages and “Real” Disadvantages of Having a Real Estate License in a Short Sale Flip Transaction

Posted by Patrick Precourt in Business, Investment, Preforeclosure, Real EstateDec 17th, 2009 | 3 responses

I have been getting a lot of questions lately about what the advantages and disadvantages of having a real estate license are when doing a short sale flip transaction, so I figured I would shed some light on it in this video. Listen in as I not only cover this “hot” topic but I also cover whether or not you can change a buyer on a short sale transaction when you are stepping out of a wholesale short sale deal, how to make yourself a “named insured” or take over a homeowners hazard insurance policy on a “subject to” deal, how to structure your business when doing loss mitigation work for Real Estate Agents, rather than negotiating for real estate investors and much more. Visit www.FridayCoffeeBreak.com and www.ShortSaleDailyNews.com for more real estate specific videos and articles.



3 Responses to “The “Real” Advantages and “Real” Disadvantages of Having a Real Estate License in a Short Sale Flip Transaction”

  1. Kevin says:
    December 18, 2009 at 9:51 am

    Question about the “rescission agreement” fee.
    I’ve been doing a to b, b to c stuff but really like the idea of this strategy. I’d like you to expand more on how that works. That would help me avoid the whole transactional funding, seasoning, etc crap that seems to bog things down.
    It would also allow me to get a better price to the c buyer by eliminating a lot of my costs.
    Please expand on that,
    Kevin
    (203) 948-9278

    Reply
  2. Cindy says:
    December 19, 2009 at 5:05 pm

    HI Pat,

    Great content. Really like your ideas, especially the recission agreement.

    Reply
  3. matt says:
    December 23, 2009 at 10:37 am

    Hi Pat,

    Great call with Jason Medley last week, and thanks for the disclosure language you provided. I have a question on one sentence you use, as follows: “The offer by purchaser is below fair market value.” What is the reason/logic in mentioning anything about FMV, or even inferring that you know what FMV is? Could this sentence possibly open you up to questions or potential problems with any of the involved parties, e.g., the short sale lenders? In other words, while it does disclose, does this type of disclosure further insulate you from potential problems or open you up to them?

    In your opinion, would the following disclosure provide a greater or lesser degree of protection for you: “The offer by purchaser is not meant as an indication of FMV, or a percentage thereof?”

    Thanks, Matt

    Reply

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