Just curious what is going on across the country..
Just curious what is going on across the country..
Greg Long | Keller Williams | Portland, Oregon
Portland Condos | Portland Bank Owned Real Estate | Portland Pearl District Condos
- Buy foreclosures, homes that need repair, etc.
- Fix/Renovated.
- Re-Fi (optional).
- Rent out.
Same as always, except the last step (used to be "sell" instead of "rent out".
Once commercial bottoms out... there might be good buys in cities receiving stimulus money and putting it towards their downtown.
Almost 30% of the closed transactions in my market are short sales and bank owned. There's a lot of investors picking up deals and doing more of a wholesale flip to other investors or buyers. Margins are not a high, but I know of one investor who is doing a very high volume.
Greg Long | Keller Williams | Portland, Oregon
Portland Condos | Portland Bank Owned Real Estate | Portland Pearl District Condos
I heard a statistic that 60% of the sales last quarter were bank owned or short sales here in Minnesota.
All my investors are doing rehab and holds.
Scott Ficek
Realtor/Investor
RE/MAX Advantage Plus
Minneapolis, MN
cell: 612-281-5419
office: 952-898-5800
Saint Paul Lofts
St. Paul Homes
I am too curious about the investment. And I agree too on real estate as a safe investment. I dont know the percentage, but still many wealthy people are investing in real estate. And the trend might go well for couple of months.
Buy and hold has gone on for about the last eight months. Homes that were purchased for $350k in '05 are now selling for $75k all day long. They rent for $800 - $1,000 a month. But something that has been available recently, because of the moritorium, is the ability to flip some homes through wholesalers and private parties. Some flips of REO homes has happened, but they are still small. Trustee sale is more advantageous now because they are lowering the starting bid to less than the outstanding loan. There are some good deals to be had. I would love to hear about others getting the original foreclosure auction homes' at the courthouse auctions.
In a down market it can be difficult to determine the best investment strategy for your portfolio.
Separate strategy and emotion - In a down market, some investors panic and try to protect their assets by moving money out of an investment. Then when the market goes up again, they become hopeful and decide to put their money back into the original investment. In a nutshell, emotions can cause people to buy high and sell low, which is the total opposite of what you should be doing . In a down market it's important to remain confident and not be influenced by short term performance. Remember, if you are investing in a long term goal such as retirement, time is usually always on your side. So unless your goals change, it’s a good idea to create a strategy and stick with it.
Residential real estate investors have become a driving force in the residential real estate market. Sharp increase in property sales across the country is indicative of the progress.
Like other businesses, all aspects of real estate investing also have become technology oriented. There are tools which do complete evaluation & help you to find out what the property is really worth, along with the ability to predict how much appreciation it will achieve in the coming years.
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