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The money is under the floorboards of

By: bigballss

Distressed properties. Foreclosures and pre foreclosures. You have to buy at a discount to make money as appreciation will be pretty flat over the next year. Some areas will see negative appreciation. There is a big problem with jumbo loan financing right now. Loans of $700k plus are really hard to get, even for well qualified buyers. If you are looking for flips or rentals, stay in the bread and butter neighborhoods and away from the higher priced homes ( stay under $600000 price). If you are looking to move up to a higher priced personal residence where you will be for 5 plus years, you will see some deals. The lower priced homes are still moving, gotta find the pre foreclosure properties. Government intervention is propping up the market right now. Delinquencies are at an 8 year high but lenders have to grant forbearance assistance to any homeowner that asks for it. This fake republican administration will not let the lenders foreclose. Eventually the delinquencies will lead to foreclosures and opportunities. I’m hoping to close escrow this week on 2 units in LA. I have a referral relationship with a bankruptcy attorney who sent me the client. I’m buying the units for $325,000 about $90k under market value. Rents total $2500 a month. I plan to keep the property in my portfolios because it cash flows so well, but it could also be a nice flip. Maybe a six banger ($100,000). We will see more opportunities like this after the summer. Good luck!
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