Investing Strategies
Short Sale Deals Part I: The Process Has Changed
Did you—like me—ride the short sale wave from 2008 to 2011? And have you ever wondered whether that wave is really over?
Jason Lucchesi here, and in my 2-part mini-series about short sales, we’re going to talk about:
- the way short sales used to be done
- why they changed
- how they’re done now
- ways to find these properties
- and more…
Plenty of investors—myself included—went after a ton of short sales from 2008 until 2011. We still go after them today but in a much different capacity. It’s time for a history lesson on the short sale, then some tips on how to turn these sales into a key part of your investing strategy.
The (Recent) History of the Short Sale
From 2008 to 2011 investors found individuals in a distressed state through the owner of records. Investors contacted these individuals and offered to purchase their properties at a discounted price that the investor would negotiate…
Jason Lucchesi
Jason Lucchesi is the co-founder of real estate and marketing company Global Fortune Solutions, LLC. Jason has been in the real estate industry since 2002, where he began his career as a Loan Officer. His career flourished in the mortgage business when he accepted an Account Executive position with Countrywide in 2004. Within his first six months, he had achieved the #1 Account Executive in the Midwest territory. In January of 2006. During this time, Jason began investing part-time in multi-family rental properties while also becoming involved in wholesaling. By 2006, Jason was transferred to the Indianapolis area to save a struggling branch. He quickly took the branch out of the red into the green while also beginning to purchase distressed residential properties part-time. In 2007, Jason began pursuing his ultimate dream of becoming a full-time real estate investor and began investing in REOs in 2008. Since then, Jason has been involved with many aspects of real estate including short sales, tax sales/deeds purchasing, purchasing homes in distress, wholesaling, and many other avenues. Jason has been married to his wonderful wife Jamie since 2007, and they are proud parents to their sons Brady and Gavin.
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