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For Sale By Owner

Should You Try It Alone Or Join a Vulture Fund?

This morning at the health club, I ran into one of my long time friends, and I asked him if what I read in the newspaper was true. The paper reported that the bank where he is chairman was sold to a much larger institution. He confirmed that it’s true, and needless to say, a bunch of his cash is going to be made available to him in the near future. I asked him what he planned to do with some of that cash, and he told me he was planning to get into the short-sale game and start finding houses that he could buy, fix, and flip – or hold – depending on the circumstances.
I immediately cautioned him, the same way I caution the readers of this column, that the short-sale game is not for the faint of heart, and if you’re not a professional investor, there’s a …