Anyone Familiar with Residential Short Sale/Foreclosure Leasebacks?

[Tara L.]

ALL:

Good morning and Happy Father's Day to all the fathers here on BP. I have a question concerning residential short sale/foreclosure leasebacks. Recently, I contacted someone looking for a realtor specializing in short sales and during the conversation, the person mentioned the concept of leasebacks. Have any of you done this on a short sale or foreclosure and if so, how did it work out for you in the end?

I researched the concept and came across information stating that in order to participate in something such as a Short Sale Lease Back Program, the real estate professional handling the process has to be certified with one or more approved non-profit organizations to offer such a program. The investor told me that from an investor's standpoint, it's doesn't apply because as an investor, you can buy and sell real estate without a license for self wealth.

If you're familiar with this type of investing, please share your experiences and any information you feel is important when handling these types of deals.

Thanks in advance.