Posted by drk on March 17, 2004 at 19:35:44:
We work in the Chicago area. We buy REO’s and foreclosures partnering with cash investors. We fix them up and then partner with credit investors to do the refinance. (cash out front end investor.) We then owner finance to credit challanged with substantial down payment. We sell the property 3 to 5 years later. In case of default we make more money. Right now the investors and I make money six times over the life of the deal. We have more deals then we can handle and we don’t touch it if it can’t make at least $100,000 over 3 to 5 years. This is the best economy for investing you could ask for.
this market - Posted by lil_joy
Posted by lil_joy on March 14, 2004 at 03:08:48:
I have 2 questions
1)has anyone else noticed that the market conditions are strange for the real estate market?
2) Besides flipping, what is the best way to profit in this current market?
Re: this market - Posted by jeff
Posted by jeff on March 18, 2004 at 08:35:30:
I own rentals, 7 of them. It is a real sellers market in my area. I have pulled some cash out of a few properties and refinanced to get great interest rates on some others over the past year. The values are increasing fast 10% a year on average for my properties. The fixers here are selling quick and at higher prices than I am willing to pay, but I know first hand that people are making good money rehabbing right now. I think if you find a good deal you will make money fixing or renting.