Sub-prime lending woes in the housing market are creating more opportunities for investors to negotiate with the banks.
Banks have more properties on hand (from foreclosures and short-sales) and want toliquidate the properties as quickly as possible. Sometimes the banks are selling at 10-20% below market value. For example, you might be able to negotiate a $120K property down to $96K (20% below market value).
1 Comments on Now is a Great Time to Create Instant Equity
JUN
25
2007
At a recent seminar I attended, the group was told that while real estate was always a good investment; the market that we are in right now will create more millionaires then any other in recent history. Those that have the resources available will be able to snap up properties at fantastic prices and hold them in their portfolios for later profit.
I have seen some unbelievable deals made in local auctions recently, but still believe there will be even better deals later this year as more foreclosures occur in our market. In the surge we had late in 2005 many "investors" thought they could buy and flip new construction, the problem was that it took too long to complete the construction, and many missed out and now have properties that can' get rid off.
Hello everybody my name is Justin and I'm a Licensed Mortgage Professional serving the whole state of WI. I am looking to pick up some useful information and possibly establish a few relationships through this website and blog!
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At a recent seminar I attended, the group was told that while real estate was always a good investment; the market that we are in right now will create more millionaires then any other in recent history. Those that have the resources available will be able to snap up properties at fantastic prices and hold them in their portfolios for later profit.
I have seen some unbelievable deals made in local auctions recently, but still believe there will be even better deals later this year as more foreclosures occur in our market. In the surge we had late in 2005 many "investors" thought they could buy and flip new construction, the problem was that it took too long to complete the construction, and many missed out and now have properties that can' get rid off.