Recently it has come to my attention that true investors trying to acquire real estate are facing the same dilemmas as everyday home buyers are facing.
A glut of properties at unstable prices that receive multiple offers rendering the bank, or property holder unable to make a decision, accept an offer and sell a home thus allowing the buyer to purchase a home.
After several months of intense work in the foreclosure arena I believe that I have stumbled through all the pit-falls that could possibly be out there at this time.
The bottom line to a good deal is buying wholesale and not retail.
REO's-Real Estate Owned (by a bank or investor) are actually retail priced. They have gone through the foreclosure auction process and not purchased thus reverting back to the bank or investor. At this time they are given to an asset manager, re-priced listed with a realtor who increases the price for holding, carrying and commission costs and the inflated priced property is put on the market. Well priced properties in great neighborhoods receive multiple offers. Other properties sit for 200 plus days and rot. The longer they rot the higher the price goes and thus stupidity in the market continues forward.
True Investors who actually make a purchase are frustrated with the mediocre return on monies compared to the past few years and are now faced with a long term dilemma of old school real estate investing. Minimum return, for a long time to recapture monies.
I believe I have stumbled onto the perfect storm. A way for investors to meet or match the performance of real estate numbers similar to the past three years as well as providing a way for buyers to get the best deal out there without paying full retail price or worse yet not buy at all due to the volatile nature of the market.
Buying wholesale requires all cash. Currently the price point that is receiving the most interest is the $50,000 - $150,000 price range. Buying wholesale results in a purchase price that is 15-20% lower than a retail REO.
The investor buyer would purchase the property. In most cases we will have owner/buyers who are pre-approved for loans and have chosen particular properties. In cases of lower priced exceptionally juicy properties we may speculatively purchase some properties.
The actual rate of return is listed in the next section "Funding Partners".
Buyers are being sourced locally in Las Vegas as well as Southern California, where we have begun running weekly buses from So. Cal. to Vegas,, bringing investors as well as buyers to Vegas. For more info on the bus trips go to http://www.repocoach.com/..
You may want to browse the forecsloure homes section which showcases sold properties as well as the properties to buy section. In each section we will detail all the terms and conditions as they are completed. These homes sections are updated daily with the most relevant information.
Feel free to call me or e-mail if you need more information and are ready to go now. We have buyers lining up right now.
It is my intention to move quickly to take advantage of real estate opportunities.
Don't worry about this opportunity going away. Last Dec. the real estate community in Las Vegas was shocked by over 1200 foreclosures in that month. On Tuesday of this week there were 800 properties sold in one day at various locations in Las Vegas. The depth of this pain is a long way off. But it has to be solved.
Currently there are still between 4000 & 6000 new residents moving to Vegas every month.
With over 40,000 new hotel rooms under construction and 250,000 new jobs being created in the next 24 to 36 months, Vegas isn't going away.
