Well. let’s see…where to begin…let me tell you what I would do. On second thought…my strategy is maybe too aggreesive for a new investor so let me tell you what I think you should do. I would find out what you think the values of the properties are right now..I mean current and accurate values. Then I would lock those puppies up air-tight with a contract that ensures me a ton of profit. Then I would find someone (like us) to work a joint venture with to do the short sale and market the property for re-sale.

Now that is the incredibly concise Reader’s Digest version. What I really would do is get a hold of us tomorrow via email (info@realestateradiousa.com) and we can talk offline and figure out where the bodies are buried in this deal (if there are any) and if not, we can maybe work together to take these puppies down. What say you?

I have a friend who has two proerties in different cites in CT. She is absolutely just going to walk away from BOTH properties. 1 of the properties was her own
personal home & the other was a 3 family rental. Both combined are worth @
least 600k. No foreclosure proceedings have started against either property.
What should i do to begin the process of making some profit off of them both?

I’ll be online tonite looking for a local investment club. Thank You for any assistance you may extend to me.

Regards,

Ira

Please give more details. The bank won’t approve what? But to answer your question, SURE you can do a JV to take down a short sale. The key is to structure the deal correctly and legally but it most assuredly can be done. I’d need to hear more about the deal you are speaking of to address coherently and if you give me some additional info I can help you.

Now you may not be able to simply assign just any contract…so it’s very important that you set your deal up correctly in advance but there are a number of completely legal ways to get this done.