When all the gloom and doomers are out there...the quiet investors are finding the deals and believe me, there are plenty on the market....they are buying them up...some are making repairs and flipping them...yes, you read this correctly, turning them for a profit, $20k, $30k for a short term of ownership even in this market!
I see fear paralyze more investors and wanna be investors than anything else. This past Saturday I gave a Foreclosure Shortsale Clinic and the room was filled with some new folks who are looking to invest. When I was extolling the virtues of short sales vs REO for the investor client with regards to having more room in the deal for the investor, some folks understood the concept while others wanted me to rewrite how the system works (as if I have the power) so that they could have the benefit of the REO infrastructure in negotiations and the "room to negotiate" as in shortsales.
All I can do is pass on the truth and tell it like it is....short sales take time to work, but that is were the best deals will be found. The truth is you need to have not one but a couple of exit strategies today or you probably shouldn't be in the game.
Janet Fetterman, Broker Associage/Owner
Concord Real Estate
386-299-6393
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