Over the past several years the residential real estate market has shifted drastically. This is because as the housing market continues to slide downwards, and lenders seemingly disappear off the radar at alarming rates, opportunity has also changed hands. Now instead of buying homes and flipping them as you would in the past, the fastest way to a surefire quick buck in the current market is a short sale flip. Now I am sure that you might be wondering what a short sale flip is. No worries, I will bring you up to speed.
A short sale flip is when you find a distressed home owner selling their property via a mortgage short sale—where the bank allows them to sell it for far less than they currently owe to avoid foreclosing. With a short sale flip you buy the home and get into with plenty of sitting equity. Then you fix it up and immediately sell it again for a hefty profit. A short sale flip is easy to sell because you are selling a home that still has plenty of value, making it attractive to buyers.
