Who is going to buy these foreclosed homes??

Bill,
I think we have to muster up the moneys from private investors and buy buy buy these foreclosures based on the ROI they yield, (as opposed the the equity situation). We put lease option tenants in there. We literally have the opportunity to rebuild America one house and one family at a time. A bit philosophical perhaps, but I believe in this more and more.

Lease Option is the way to go... you get your monthly rent, you get your end buyer, and the tenant buyer who doesn't have good credit, but does have the $ can buy a home in the future while living in it in the present. A win-win for everyone!

Wishing everyone success,

Valerie

you are talking to the choir as lease options are all I am focused on in today's market. However, there are some general assumptions that may be wrong. We assume that the market is going to return to what we believe is normal. Maybe we are now in the new normal. Maybe the national debt problem doesn't get fixed and the Chinese stop buying our T-bills as we have become a poor risk and the market tanks.

With that said, I am trying to move forward with a plan that is right for me. But I am also afraid that there are so many new people that have no perspective on the RE market, that they will get deeply chopped. I am a big believer of OPM, leverage, risk and real estate....but the economy is royally screwed up this time.

So I agree on your philosophical mantra, but everybody may not be able to march to that drummer.

We have to be careful. Get educated. Seek Mentors. Do due diligence. I can't think this is going to be the new normal forever, but a few years at least.
I share your concern for those anxious to jump in, but are unprepared and I applaud you for being willing to counsel.

Hi Bill, Is there a way to bird dog foreclosed homes? How do you go about marketing for them? Is it to the banks or the owners who maybe still living
in the homes? I would like to accumulate some quick cash to go toward more
marketing. I am constantly at our local REIA meetings and know the big players
in the room. I just would like to get them some deals... Any advice would be
greatly appreciated. I finally got the nerve to ask for help.... Lol

I'm not assuming anything... and I totally agree with you about the economy being screwed up, but I thought you were posing a question as to who to sell the properties to these days, as a topic to get us to think and post about some solutions...and the lease option is not my philosophical mantra; it is a creative method that was taught at one of DGs training I attended last October, and I think it is a good alternative for the situation many people are in these days...it may work for some, it may not work for others... I did't say it was 'the method' for everyone to use...

Valerie