Questions For Short Sale Expert - Tell Us The Truth Which Not Too Many Will...

[Edwin De leon]

I was told yesterday by someone that the short sale business was great 2-4 years ago now in 2010 and 2011 you are beating a dead horse and the only ones making money are all the short sales gurus selling their $10k-$30k coaching programs and $1k-2k courses.

I have spent time, money and energy in this area and now I have reservations whether to pursue short sales or not...so pretty nervous almost took a crap on myself when I was told not to pursue short sales.....lol...:)

Here is what I was told:

I was told by a short sale processor company owner who is not any longer processing nationwide ....that it is very hard right now to do short sales with banks and to make the money he was making 2-4 years ago, those days are gone.

If I think I am going to get the bank to discount 50-55% to flip to another investor at 65% I am in for a surprise and a waste of time.

I am so nervous that I may take another crap on myself...I know I am a clown ...hey a little humor never hurts...:)

Anyway, I was told to do something else besides short sales to make quick cash and not waste time when the banks are making it very difficult to close deals.

I am in the new york area where properties sell for $350k-Up since most are 2-3 families.

I just want to know the truth before I waste more time and money with the following questions:

1) If banks are not approving short sales at 50-60% so where is the money then if I can not get approved for this amount so I can flip to a investor.

2) Cash investors are looking to buy around at 65% so how the hell do I make money then

3) Should I focus and sell my short sales to retail home buyers instead of cash investors but I thought the move was to focus on cash investors for quick sales...:(

4) Is wholesaling short sales to investors dead, if not then how can I still make money from my hard work of building a cash buyers list of investors.

5) What kind of problems will i have trying to sell my short sale approved properties to retail buyers.

6) I am thinking now of building a retail buyers list, what is the best way to do this since I think this may be the move to max out my profit from my short sales

7) THE TRUTH PLEASE
The truth now.... how hard is it now to make money in short sales and what is the best way to make money with short sales is it flipping to investors , retail buyers or some other way?