“Do not be scared of notes. They are one of the best opportunities today,” so said Scott Bleazard, Sr. Vice President of Kingston Management Services LLC, a successful bidder of FDIC distressed assets on my radio show at Income Property Investment Talk dot com. He urged, “Don’t let your mind be your biggest hurdle in this investment.
It’s the greatest opportunity out there right now.” And, I couldn’t agree more. But, new data from ForeclosureRepos.com has new statistics posted online that give an average price of single family homes, condos, and even duplex or triplex properties are an more than affordable price ranges. And, if foreclosures are offering real estate home buyers’ great buys, and then mortgage notes from a reputable FDIC successful bidder are an even better buy. Two things: one if an investor knows these are the best opportunities right now in the marketplace, then so should you. Two, the best time to buy is when you get the best possible price.
The marketplace right now offers the home buyer the most deeply discounted real estate since the late 1980’s and early 1990’s when the Resolution Trust Corporation was formed by the government to manage the Savings and Loan Crisis (sound familiar? Think history repeats itself? You know how many investors made millions during that time?) This time is different. The opportunities are available for home buyers. And, because real estate is the single best investment one can make, the home buyer can, in this marketplace, be a successful real estate investor as well and build wealth for today and in the future.
Back to the ForeclosureRepos.com statistics: did you know that California is looking fantastic for potential buyers with prices lower than they have ever been before. People can buy single-family homes for as low as $204k, condos at prices as low as $195k and a duplex or triplex property for approximately $268k. In Michigan, homes are going for an average of $61k, condos at $78k, and duplexes and triplexes are averaging $14k. Florida homes are looking promising also at an average of $112k for a single-family property, $86k for a condo, and $113k for duplex and triplex properties.
With notes, you can buy homes in some of the nation’s best communities a, prices at or below these numbers outlined above. The time to act is now.
Note: To see FDIC mortgage notes available right now, go to Income Property Investment Talk dot com and click on the “Best of Times” graphic.