There has perhaps never been a better time to invest in the residential real estate market in the US. With the extraordinary level of foreclosure activity taking place today, first time, and seasoned investors are capitalizing on the increased inventory of available homes at greatly reduced prices. By some estimates, up to 31% of all homes sold in 2008 were associated with a “Short Sale” or Foreclosure. On average, a bank loses approximately $50,000+ per property once a home enters the foreclosure process.
Investors nationwide are buying up these foreclosures with an eye on an improving marketplace in the coming 18-24 months. With the potential for significant equity gains in an improved market, many investors are working with “Turn-key Real Estate Investment Firms” that can provide them with a home, complete rehab, hard money financing, and tenant placement. These firms take away much of the risk and can provide investors with as much as $35-50K in equity for as little as $2,500 in out of pocket cash.
For the first time investor, this approach to “getting in to the game” can be very attractive!
DAVE EMRICH - Georgia Residential Partners (GaInvesting.com)
