Sunday, March 12, 2006
Recent Real Estate Foreclosures
I came across a foreclosure deal the other day involving a bank owned property (REO). The property appraised for 2.5 million dollars and the bank was willing to accept appoxiamtely $850,000. I am not taking advantage of this deal but another real estate investor that I know is.
The trouble with this deal is that the market is so slow around here right now. An investor should be able to sell the home below the appraised amount and more than $850,000 for a nice profit, but if he can't the mortgage will eat him alive. I think it would be ideal for someone looking for a primary residence in this price range, that way they don't have to worry about flipping the house right away. Just my thoughts.
To learn how to make money from foreclosures like this one visit:
http://www.massiveforeclosureprofits.com
The trouble with this deal is that the market is so slow around here right now. An investor should be able to sell the home below the appraised amount and more than $850,000 for a nice profit, but if he can't the mortgage will eat him alive. I think it would be ideal for someone looking for a primary residence in this price range, that way they don't have to worry about flipping the house right away. Just my thoughts.
To learn how to make money from foreclosures like this one visit:
http://www.massiveforeclosureprofits.com
