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Monday, January 28 2013
With the Fed having announced its intention to hold interest rates near 0% until at least mid-2015, even very cautious investors are recognizing that this provides a rare opening. If ever there were a time to start a real estate portfolio, it’s hard to imagine a better one.
For many, the first question is whether there is still an opportunity to buy foreclosed homes in Evansville. That answer is yes, for sure – but that is not always the only strategy that will get you to your goal.
It all depends on you.
Before we can develop your strategy, you first need to decide which type of real estate investor you wish to be:  
The Fix-and-Flip Investor  - This type of investor is handy (or has a lot of contacts who are), and is familiar with remodels and improvement projects. Usually, at least part of the goal is to create an income stream from the investments. This investor buys a property at the lowest price possible, improves it, and sells at a profit as quickly as possible. This investor may have one or more projects going at a time -- with or without loans on the properties. This is the more hands-on type of investor.
The Buy-and-Hold Investor – This investor need not have a high degree of familiarity with real estate (as long as he or she has a source for accurate market advice), and plans to use the real estate portfolio for its long-term wealth-building potential. This investor may or may not buy foreclosed homes – the goal is to buy property at a price that, when rented, will generate cash flow that makes financial sense. This investor often takes loans on properties. This can be the least-involved kind of investor after purchase – especially if a property management company handles the day-to-day details. 
Whether you are looking to buy foreclosed homes in Evansville, or to capitalize on one of the bargains now available in the traditional market, cool-headed, informed decision-making is at the core. If you are also looking for an agent to be by your side supplying up-to-the-minute market data, give me a call. We can talk about your goals, and come up with a buying plan that matches your investing style. You can reach me on my cell phone 812-499-9234.
Posted by: Rolando Trentini AT 08:00 am   |  Permalink   |  Email
Thursday, April 07 2011

More investors are finding a sweet spot in flipping foreclosures, but it’s not the same type of house flipping seen during the real estate boom.

During the housing boom, investors would take advantage of skyrocketing real estate prices and loose lending regulations by buying a property, remodeling, and then selling it for profit.

Today’s flippers are buying at ultra-low prices mostly in cash deals and are doing mostly only minor repairs, such as repainting, replacing appliances, and sprucing up the landscaping. Their profits aren’t as large when they sell, but they may sell more properties in a year, says Penny Boling, the broker-in-charge of Century 21 Boling and Associates in Myrtle Beach.

The 'Street Sweepers'
Keith Gamble has made foreclosure flipping a full-time job. He purchases properties at a monthly foreclosure sale and usually has about four properties at any given time.

“Some people’s bad fortune is other people’s opportunity,” Gamble says. “I know that sounds callous — I know people doing what I’m doing at the courthouse each month are there to take advantage of that opportunity, but I also feel we provide a backstop to the market.”

The flippers are often taking the neighborhood’s blight and helping to fix up the homes that had been badly trashed from the previous owner. Boling says the investors’ abilities to also pay cash will help the market get through the abundant foreclosures that are plaguing sales.

“They’re kind of like the street sweepers,” Boling says of the property flippers. “They’re part of the cleanup committee of this marketplace.”

Source: “Foreclosures Offer New Twist on Old Game: Flipping Houses," RISMedia (April 4, 2011)

http://www.realtor.org/RMODaily.nsf/pages/News2011040402?OpenDocument

Posted by: Rolandso Trentini AT 08:00 am   |  Permalink   |  0 Comments  |  Email
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The Trentini Team
F.C. Tucker EMGE REALTORS®
7820 Eagle Crest Bvd., Suite 200
Evansville, IN 47715
Office: (812) 479-0801
Cell: (812) 499-9234
Email: Rolando@RolandoTrentini.com


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