Now is a Great Time to Flip/Invest
Shortsale & REO Property Opportunities
If you have any faith in all in this market and it's direction, now could be golden era of opportunity for flippers/investors. Some folks who have made some nice profits on flipping shortsale & REO properties in the past are starting to move back into the market. With the opportunity to aquire properties at bargain basement prices, some flippers are making the buy, getting the house market ready, and simply holding until the market becomes a little more seller friendly. More and more investors are seeing results from purchasing short sale and REO properties.
These short sale & REO properties are being aquired at such values that investors can make repaires, rehab, and still undercut the other properties in the neighborhood. However while this is moving inventory, and many area's across the country are reporting the availability of these properties is shrinking, it still pushes prices in area's where flipping is occurring down even further. So it is double edged sword. I think it is what is and the market needs to correct on it's own, and unfortunately this is one the good yet bad situations that has to work itself out.
This has become somewhat of a niche market, consisting mostly of investors who have experience in this area, and builders looking to keep something going until the new home construction business returns. The time and money involved makes this area of real estate investment not for the faint of heart. It usually takes about two years from foreclosure notice to REO property, that is if the owners were not successful with a short sale or auction sale. Many contractors that have seen their credit go south have gotten out of the game, leaving more and more small, single party investors scooping them up.
I have done well with this area of real estate, and would be happy to work with investors finding shortsale & REO properties that are a propert fit for flipping. If you think this might be something you might want to take a look at, or are someone with experience looking to expand to the Gettysburg, Adams & York County markets, please feel free to contact GettysburgGerry