short sale flip success rate

[Tony Adderley]

I'm a newbie short sale investor in Los Angeles. I've started a yellow letter campaign, found 2 agents to work with so far. I've made one offer so far. So I have some "skin in the game" with this business. My problem is an expert investor I trust said short sale flips close only about 10% of the time. Aaaugghhh! This can't be right. Most of my info says investors close - close to 50%. What do you know about this?

[Eric M.]

Originally posted by Anthony Adderley:

I've made one offer so far. So I have some "skin in the game" with this business.

Having skin in the game refers to having money invested in a deal, not making 1 offer on a property.