Looking for Good Markets to Flip Short Sales

Thanks to a media blitz and a variety of new regulations, many real estate investors actually believe that it is no longer an option for them to “flip” (or flop, as some investors refer to it) short sale properties. And it is true that in many cases if you opt to resell a short sale property immediately, you may be subject to more intense scrutiny than if you subject yourself to a self-imposed seasoning period that, to some lenders and government officials, indicates that you are not getting ready to make “too much money” on that short sale deal that you poured so much blood, sweat and tears into.

However, there are some markets in which flopping – even with the increased attention and transparency requirements – makes all sorts of sense. Buyers are lining up to buy short sale properties, and they are simply unable to conduct the negotiations on their own or navigate the still-complicated short sale system. Markets like this are ideal for short sale investors who want to move their properties quickly, and the volume of buyers – often international – who are interested in getting US properties at a serious discount is staggering.

One such market is Miami, Florida, where studies show myriad nationalities of buyers are snapping up luxury condos and homes not just for vacation, but as investments. While those in the States may be worrying that property ownership no longer has the long-term investment power that it once did, people overseas are jumping at the chance to own land in this country – and taking advantage of the relatively weak dollar to buy in volume.

If you are looking for this type of buyer, then you need to focus on “multicultural” markets. That is one reason that Miami appears to be so popular. Venezuelans, Israelis and many other nationalities feel comfortable in the rich, multi-faceted environment, and most agree that this area of the country, which was hit early and first when the housing market tanked, will also be a bellwether – much like areas of California – when the recovery begins.

Of course, you need to be very careful when you flip short sale properties. Work closely with an attorney to make sure that you are obeying every single letter of the law when you do your deals. It can make things tedious, but you will be able to enjoy cashing your checks quickly and with peace of mind!

P.S. If you haven’t signed up for my Free Short Sale Course yet, then you are really missing out, go here:
http://www.freeshortsalecourse.com/