Short Sale Experience Needed!!!

[Sydnie E.]

Hello BP, I have a question for our short sale experienced BP family. I'm looking into acquiring a short sale property and need clarification on the analytical side. If a property is listed as a short sale for $495,000 and MLS has the value in that area as $799,000. If purchased at $495,000 how would one obtain the excess from the market value ( the $304,000)? What would be the best way to acquire this property. I'd like to acquire a few properties to build a real estate portfolio and use the value to payoff private lenders. Does this sound reasonable or am I dreaming? Is any experienced in building RE Portfolios? I appreciate any information you can offer. Thank you, Sydnie