I'm sure that will end well.
Hedge funds have been big buyers as well.
Hedge funds have been big buyers as well.
How about the problems created by lending to buyers who can't make the payments and default on their mortgage? Ha is right, they don't want the problem to become theirs. If you don't want the problem to be yours as a seller, require that your potential buyer be pre-qualified.Last flip I did was cash buy and cash sell .... did carry paper on 1/3 of the price. But no banks involved. Had 3 full price offers fail to get approved by the stingy banks. The bankers don't realize the problems they create!
require that your potential buyer be pre-qualified.
Following article mentions the Blackstone Group purchasing distressed homes at rate of $140M per week last summer, but only $35M per week recently.
Blackstone Backs Out Of Delinquent Mortgages Blackstone Backs Out Of Delinquent Mortgages (BX) | Seeking Alpha
Following article mentions the Blackstone Group purchasing distressed homes at rate of $140M per week last summer, but only $35M per week recently.
Blackstone Backs Out Of Delinquent Mortgages Blackstone Backs Out Of Delinquent Mortgages (BX) | Seeking Alpha
In NL right now there is a bankrupt real estate corporation selling off 6.000 homes in one auction. Apparently quite a few hedge funds and private equity funds are in the bidding process. Mostly since it is really hard to buy and sell retail homes in bulk.
Not really all cash types of deals, these funds strictly deal with other people's money: "Heads I win, tails you lose"
My guess: