Lake County, Fl is starting to see more investors looking on from the sidelines. We at Mid-Florida Real Estate Brokerage have been working with foreclosures and short sales at an ever increasing pace. The only question is where is the bottom.

Where is the bottom?? Where indeed...The bottom is a perception of a buying public. The bottom is something that is declared when prices are heading back up. So, if you wait for the bottom to be declared, you will miss it.

Trying to buy only at the bottom will certainly cause a buyer to miss the majority of the deals. True investors have a system for actually buying properties that  takes out the emotion. True investors make a property work on paper before they even bother to visit the actual location.

If you are a local investor, or would like to be, then contact me, Mike Norvell Sr at Mid-Florida Real Estate Brokerage. I will do the research on the area, more than just pulling comps.  Then we will look at the actual fast sale for a fully rehabbed property in that neighborhood, and then start backing out costs from there. I won't forget to subtract all the costs, including commissions, and profit. There will also be closing costs, inspections, repairs & advertising. Then take off a few percent more and place your bid...Be carefull on writing contracts even at low prices...We do title searches on all proeprties..It's not a good deal if the title is not clear...ANd you may end up being liable for bills you did not count on!!

Bidding on properties like this will be rejected more often than not, but IF you do get the bid, at your price, then you will have a property you should be able to make money on. If you can't buy like this, then pass on the deal. Its really this simple..

Don't forget, call me, Mike Norvell Sr for assistance in bidding on properties. Its worth having an expert involved to help you with your investing. Most people greatly underestimate what it will cost to turn a property. In this declining market, you cannot afford to make mistakes!!

Call Mike Norvell Sr.         Mid-Florida Real Estate Brokerage               Mikenorvell.com