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More opportunities abound - deals are everywhere

By Rob Arnold

Real Estate Agent with Sand Dollar Realty Group, Inc. BK627826

December 15, 2007 10:28 AM

I talk to so many people that just aren't sure where this market is headed. I don't have a crystal ball, so I don't know either. However I do know a deal when I see it. And there are deals everywhere to be had. I have never seen so many good deals in the last 11 years of being a broker as I am seeing right now.

We just picked up another deal for one of our customers in South Orlando. This bank foreclosure is a 3/2/2 block house for $109,000. The lowest retail sale in the neighborhood in the last year was for 175K. There are many sales in the 180s and plenty of actives for over 200K in the neighborhood. It should be fixed up and back on the market within 6 weeks.

Investors, if you are interested in buying some great deals please contact me. In addition to the MLS, I have many pocket listings and referrals from other investors. I also get many calls every week with people bringing me leads.

Properties still are not that hard to fix and flip as long as you buy them cheap enough to re-sell them for 10% under everyone else.

Rob Arnold, ABR, CPL, GRI, Full service and investor friendly Realtor, Managing real estate broker, Licensed mortgage broker, Notary Public

407-389-7318 www.SDRhouses.com/ www.WeBuyHousesFlorida.com/

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John Walters

Frank Rubi Real Estate - Slidell, LA

Licensed in Louisiana

Thats right Rob there really are opportunities everywhere. You just have to work harder to find them.

Dec 15, 2007 10:33 AM

Susan Walters

Keller Williams Realty, Ann Arbor, MI - Ann Arbor, MI

I agree Rob. In the couple of months it has taken for some buyers to have a bankruptcy sale fall completely apart on them, prices have come down tremendously. My new search for them is turning up properties that are pristine and well-located for practically the same price the lost property was going for. Granted it is winter in Michigan and only the most motivated sellers are in the market now but good deals abound. Still looking for that turnaround though. 2008?

Dec 15, 2007 10:37 AM

Rob Arnold

Sand Dollar Realty Group, Inc. - Altamonte Springs, FL

Metro Orlando Full Service - Investor Friendly & F

John - At least for me, it is actually much easier to find them than it was a few years ago because there are more of them and less people competing for them. In Central Florida, our market is flooded though.

Susan - I'm not sure if we will get a turnaround any time soon, but I am hoping that our market in Central Florida is at least close to bottoming out. I hear Michigan is pretty sluggish too.

Dec 15, 2007 01:41 PM

Diane Aurit

LKN Realty, LLC - Mooresville, NC

Lake Norman Real Estate

There is an up side to this market, especially in areas like yours that have been hit pretty hard. You are a good person to turn to in your area for investing in real estate!

Dec 16, 2007 01:14 AM

Diane - My niche is working with investors. It was actually much harder to find them deals when the market was on the way up. All the good properties were getting way overbid. Now that the market has turned dramatically downward, the challenge is to motivate them to make offers. People tend to only want to buy when the market is good and sell when it is bad.

Dec 16, 2007 02:56 AM

Anonymous

Dan Dunleavy

Great points Rob! Esepcially your point on, " Properties still are not that hard to fix and flip as long as you buy them cheap enough to re-sell them for 10% under everyone else."

I totally agee. It is a numbers game with the proper planning and patiance you can find the right properties.

Dec 17, 2007 11:36 AM

Dan - Thanks. We have still been buying and flipping properties for the last 2 years of this downturn. Just a whole lot more cautiously and conservatively.

Dec 17, 2007 10:27 PM

More opportunities abound - deals are everywhere

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