Posted by Bill Jacobsen on November 19, 2008 at 11:14:02:
In Reply to: What is your favorite strategy right now? posted by Kenneth Hocking on November 18, 2008 at 20:01:30:
My favorite strategy continues to be buying, rehabbing, selling. Most have been pre-foreclosures including subject 2 the first and shorting the 2nd. It seems to be getting more difficult to get decent shorts. I have not really tried the REO market yet.
In Salem, Oregon where I live the market has deteriated just in the last couple of months. We have been behind the rest of the nation. Eventhough I generally hold a house only 2-3 months it seems that I have been caught with a couple of properties with little or no profit.
The key to makning money when only holding a short time is to know what the property can ultimately sell for. If you miss that number nothing else will help you.
Bill