Opportunity is Still Knocking!
The attractive prices on good properties in real estate are still here for the time being but prices are rising. In my 39 years in the real estate business, I have never seen such opportunities in the marketplace.
As a reminder, I have been having success lately at locating good-looking suburban single-family homes and condos at discounts for Investors. I have researched properties in all forms of distress (Judicial Sales, Pre-Foreclosure, Short Sales, buying up loans, etc.). The best deals out there at this time are the foreclosed or bank-owned properties, commonly called REO’s.
Because the real estate market has been consistently had more and more activity, I often find the offers I present to be in competitive bid situations. I have also seen more contractors fixing up and “flipping” houses. There are only a few properties in prime areas that are candidates for this system, but the best strategy at this time is to buy, hold with cash flow, and sell later.
The plan is to do the required repairs and decorating, lease it out with a Positive Cash Flow for 36 to 48 months, and then re-sell the property at a significant profit. CSI can also manage your property for you.
If this is of interest to you or someone you know and you would like to discuss these opportunities further, please call me and we can review some scenarios. Thank you.
George Carlson, President/Managing Broker
Conversion Specialists, Inc.