Buy and Hold Scheme for Bank and Government Foreclosures by Joseph Smith
The growing number of bank and government foreclosures gave birth to the investment strategy called flipping. Flipping involves buying homes in bank and government foreclosures, repairing and rehabilitating them and reselling them for profit.
This strategy became popular among real estate investors because of the abundant supply of bank and government foreclosures properties. For example, in Marion County, Indiana about 1,640 bank and government foreclosures filings have been reported.
However, the time for flipping strategy has passed. According to Central Indiana Real Estate Investors Association President Bob Nice, investors who acquired bank and government foreclosures properties often could not finance flipping projects and potential homebuyers could not afford to buy them.
Nice said that the trend now in real estate investing is buy and hold. This means that investors buy bank and government foreclosures properties but unlike in flipping, will not sell them because there is no financing.
According to Realty World Harbert Co. real estate agent Pamela Smith, more and more investors are acquiring foreclosed properties and holding on to them as rentals. She pointed out that the rental market is booming because many homeowners are losing their properties to Indiana foreclosures and they need a house to stay immediately.
Smith?"'""s opinions are echoed by lawyers, investors and real estate agents who said that the buy and hold scheme is gaining a foothold in Indiana. They said that investors with cash on hand are purchasing houses at reduced prices and turning them into properties for rent while waiting for the housing market to improve.
Thrasher Buschmann Griffith and Voelkel real estate attorney Mike Griffith believed that more investors will become millionaires in the coming years in both stocks and real estate because of the buy and hold scheme.
The Indiana foreclosure market has been seeing a lot of activities since last year. In the last three months of 2008, about 14 percent of properties in Indianapolis were bank and government foreclosures. The figures represented an increase of 8 percent from the pre-meltdown period of 2004.
Meanwhile, more than half of houses sold in Indianapolis during the last three months of 2008 were bank and government foreclosures, an 18 percent increase from the same period in 2004.
In addition, the number of foreclosed homes were reportedly increasing in suburban neighborhoods.
Joseph Smith has been educating buyers on the finer points of Indiana Foreclosures purchase at ForeclosureDeals.com for over ten years. Click here to visit and read more advice on finding Government Foreclosures.
Article Source: ArticleSnatch Free Article Directory
The growing number of bank and government foreclosures gave birth to the investment strategy called flipping. Flipping involves buying homes in bank and government foreclosures, repairing and rehabilitating them and reselling them for profit.
This strategy became popular among real estate investors because of the abundant supply of bank and government foreclosures properties. For example, in Marion County, Indiana about 1,640 bank and government foreclosures filings have been reported.
However, the time for flipping strategy has passed. According to Central Indiana Real Estate Investors Association President Bob Nice, investors who acquired bank and government foreclosures properties often could not finance flipping projects and potential homebuyers could not afford to buy them.
Nice said that the trend now in real estate investing is buy and hold. This means that investors buy bank and government foreclosures properties but unlike in flipping, will not sell them because there is no financing.
According to Realty World Harbert Co. real estate agent Pamela Smith, more and more investors are acquiring foreclosed properties and holding on to them as rentals. She pointed out that the rental market is booming because many homeowners are losing their properties to Indiana foreclosures and they need a house to stay immediately.
Smith?"'""s opinions are echoed by lawyers, investors and real estate agents who said that the buy and hold scheme is gaining a foothold in Indiana. They said that investors with cash on hand are purchasing houses at reduced prices and turning them into properties for rent while waiting for the housing market to improve.
Thrasher Buschmann Griffith and Voelkel real estate attorney Mike Griffith believed that more investors will become millionaires in the coming years in both stocks and real estate because of the buy and hold scheme.
The Indiana foreclosure market has been seeing a lot of activities since last year. In the last three months of 2008, about 14 percent of properties in Indianapolis were bank and government foreclosures. The figures represented an increase of 8 percent from the pre-meltdown period of 2004.
Meanwhile, more than half of houses sold in Indianapolis during the last three months of 2008 were bank and government foreclosures, an 18 percent increase from the same period in 2004.
In addition, the number of foreclosed homes were reportedly increasing in suburban neighborhoods.
Joseph Smith has been educating buyers on the finer points of Indiana Foreclosures purchase at ForeclosureDeals.com for over ten years. Click here to visit and read more advice on finding Government Foreclosures.
Article Source: ArticleSnatch Free Article Directory