Should I spend $2,900 of my hard earned cash to enroll in a program to learn foreclosure short sale in 3 days? Do you think it's worth it? I have no real estate experience.
2007-03-27 18:24:44 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Your time and money would be better utilized by learning how investment real estate works. Courses are often flawed and too generic to fit all market places and changing trends. Assume you spend $2,900 and the course just happened to fit your local marketplace. You find a distressed situation and negotiate a short sale. Then What ? Will you know how to resell and assess the property condition to protect your assumed margin. Will you end up losing your windfall to commissions and repairs ? Do you have financing lined up ?
Short sales are often "sold as is" But can have a lot of issues that are now on you to solve. They can also be a good investment if one knows what they are really getting themselves into. For less than the cost of that course you could obtain a real estate license. Learn about title and escrow and marketing. Read all you can about inspecting a property and how to determine market value. How to estimate repairs and how to determine the best market for your area. A great deal but in the wrong price range becomes an investors nightmare. Short sales are going to become automatic with no real training necessary when banks become desperate to clear their books of the upcoming tide of defaults. My advice to you is to locate a local real estate investment group and get a mentor. Your money is worth more to you than just giving it away to some clever marketer.
2007-03-27 19:04:36 · answer #1 · answered by Kevin H 4 · 4⤊ 0⤋
I have taken a lot of coursed and spent a lot on other forms of real estate education. Consider the following.
1. You can learn almost all of it on your own for a lot less if you are focused. The topic is not difficult.
2. You will need to review and study after a 3 day course given how little you understand now. Hence be prepared to review and otherwise invest time after the weekend event.
3. No course is worth what they charge if you fail to use the information. If you do apply the information and complete 1 deal you likely will have a profit that is greater than the fee for the course.
4. There are different companies covering the same topic. Hence you might be looking at the best or one of the programs that is not held in high regard. Who is offering the program?
I will write up a list of things to do to get started in RE investing and put it on my blog. I have produced a list before some other people so I will just dig up the list. You really can do it on your own. You can definitely learn in a seminar. It will come down to what works for you. You then have to make a decision to apply what you have learned.
Otherwise the weekend is an expensive holiday. Would you spend almost $3,000 for 3 days away from home?
2007-03-27 21:20:42 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I think you better join "Foreclosure Service Company". As I heard it's free for Home Owners and you can learn many good stuff.
Shortsale: Short Payoff
If client suffered a long term financial hardship and is unable to maintain the loan or if client needs to sell the property to avoid a default loss on the property, it is possible that the lender may be able to accommodate the client with a short payoff. A qualified buyer is required
2007-03-30 05:30:34 · answer #3 · answered by plzpatience 2 · 0⤊ 0⤋
If you have lots of money sure go for it, but if it is a difficult investment decision for you which i guess it is since you are asking then you should condsider other ways of getting real estate advice cheaper.
For example im part of a 20,000 group of people on the internet who buy products such as youre's (anything to do with business/ finance/ money/ investing) by splitting the price between people, we then upload it and everyone gets to have the product for bargain prices...Example im paying $100 to get a $3500 real estate program.
Or you can simply download the free real estate programs out on the torrent trackers and P2P programs..
Goto torrentspy.com, and do a search for real estate..it will come up with a few programs that would normally cost a fair bit but since someone uploaded it, it is for free.
Good Luck., im trying to get into real estate investing aswell.
2007-03-27 19:22:37 · answer #4 · answered by billjoio28 2 · 0⤊ 0⤋
No! Head over to http://www.realestatefundingnetwork.com and then call Frank for much cheaper consulting. He can explan all the details about foreclosure short sales. His number is 866-728-8587. You can even get a free report at this site
2007-03-29 07:51:44 · answer #5 · answered by mary s 1 · 0⤊ 0⤋
sounds like a scam call BBB.
2007-03-27 18:33:38 · answer #6 · answered by Grand pa 7 · 0⤊ 0⤋
no
2007-03-29 17:34:49 · answer #7 · answered by Acacia 2 · 1⤊ 0⤋