OfflineSince I got on here a week or two ago it seems the overall strategy and theme in a down market is to buy pre foreclosures or REO's. My questions is, are these strategies good in every market or only in down markets? What are some of the popular strategies in an up market such as the one we had in 2004/2005?
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Preforeclosures and reos can be a good investment in any market. We are looking for motivated sellers. In other words sellers who are willing to negotiate (take below fair mkt value for their property). Because of the potential foreclosure the percentage of sellers willing to negotiate would tend to be higher based on their current condition. In a sellers market it could be more difficult to find motivated sellers because properties typically move more quickly.
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