Probate Vs Short Sale

[d.crawford85]

I am just picking people's brains with this one. I would like to know what you think is a better market Probate or Short Sales to me it seems that Short sale investing is a dying breed and with the baby boomers probate is an up and coming market plus you don't have to fight with the banks.Please let me know you thoughts

[shortsalewiz]

I personally like short sales. BTW, short sales are not dying. An estimated 7 million people will default on their mortgages in 2010. There is plenty of money to be made in short sales.

[ReCoachDennis]

Welcome!
With Short sales, you're dealing with banks so you never know when they'll get done.

My most successful ones have been on junker 9fire damaged etc ) properties that they didn't really want back.

With probates, you're dealing with the court. They have to approve the sale and you have to deal with the executor/trix who needs to make sure that all the heirs are somewhat happy.

Both can take some time, but can be very profitable- especially with probates due to the equity position.

Having said that, I would still focus on quick cash flow through wholesaling. It's nice to get cash each month while you wait for the bigger paydays.

I posted some comments on how to get a ton of deals from probate attys in this forum.


Hope it helps!

Dennis

[Summit]

UH Both!!

A deal is a deal is a deal is a deal! Have a open mind to everything! Why market to just one. when you can get deals from both.