OfflineREO properties can be great deals and CNNMoney.com
had a great article talking about the best places to buy this properties....http://money.cnn.com/gallery/real_estate/2013/01/17/foreclosure-deals/10.html
Lawrenceville, GA 30045
Price of this home: $159,900
Last sold for: $195,000
Homestead, FL 33032
Price of this home: $185,000
Last sold for: $305,800
Carpentersville, IL 60110
Price of this home: $109,000
Last sold for: $241,500
Laveen, AZ 85339
Price of this home: $117,700
Last sold for: $117,700
Kissimmee, FL 34759
Price of this home: $119,900
Last sold for: $200,500
Victorville, CA 92392
Price of this home: $182,000
Last sold for: $242,000
Albuquerque, NM 87121
Price of this home: $99,900
Detroit, MI 48224
Price of this home: $19,900
Last sold for: $91,367 at auction
North Las Vegas, NV 89031
Price of this home: $184,900
Last sold for: $368,500
Charlotte, NC 28269
Price of this home: $133,650
Last sold for: $193,000
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The only problem with these, as I know you know, if they last sold at the peak of the market, then these may not necessarily be good deals. They may still be overpriced.
Just another example of just because it is in the news does not mean it's true.
Karen
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http://money.cnn.com/gallery/real_estate/2013/01/17/foreclosure-deals/in... Good point Karen!
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
...REDC uses which is auction.com. It sure sounds good, almost like you're getting a great deal; but the reason the last sold prices are high is because they date back to 2005/2006/2007, when people were paying any price & able to get any mortgage, even 100% financing with 500 credit scores.
Truth be told, deals now not great, BPOs on REOs are at market value for
houses that need major work; & then after the rehab is done there are only a hand full of people that can qualify for mortgages that are looking as end retail buyers. The people who want houses have lousy credit scores, no down payments & huge debt. As for the people who have cash, they want to steal the properties for next to nothing. Yes the housing prices are low, but we have to do twice as many rehabs to make half the money we did in 2006. At least then you could sell anything in 2 days & make a pile of money... back then we would make over 40K profit on a house that now we are lucky to sell for 40K.
Even here in "Hooterville, Fl." where there are no jobs, over 11% unemployment & dead-beat tenants, you can make money in real estate investmenting - you just have to work at it!
but I would think a coach would know better than to advance these deals using this type of justification for a good deal. There is much more info that needs to be acquired to make this decision.
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