Fun with real estate

[brewer12345]

Ever wondered where all those foreclosed homes ended up? Check it out: Foreclosed Properties - Foreclosed homes Distressed homes on Live Auction

[Arif]

Most of these homes were financed by a bank so I would imagine that you'd be bidding against the bank until you reached the payoff or there predetermined price. Still I am amazed at the number of homes in Atlanta that are in foreclosure. Did this many people buy more house than they could afford? The prices didn't sky rocket the last 10 years and the economy is not tanking. There has got to be some bargains amoung the flock.

What a difference 100 miles can make. My area of GA is no where near this bad. Matter of fact I haven't found as many foreclosures as I would of liked so far this year.

[brewer12345]

These homes are owned by one or more lenders who are trying to unload them. These guys won't be bidding against you; heck, they are offering to finance your purchase!

[macdaddy]

I haven't found many steals yet. People need to lose their jobs before the bottom really falls out of residential real estate. Commercial real estate is still hot hot hot.

[brewer12345]

Quote:

Originally Posted by macdaddy I haven't found many steals yet. People need to lose their jobs before the bottom really falls out of residential real estate. Commercial real estate is still hot hot hot.

Definately agree. I keep half an eye out, but nothing is cheap enough to make me want to play (ugh) landlord. Too easy to stick with "tenants" I can boot for the price of an online trade.

[tryan]

wow ... brings a tear to my eye - just like the good old days. Except the listings were paper and you needed to go to the registry to get the amount owed.

Who says you can't make money in real estate today !

[Spanky]

Quote:

Originally Posted by tryan wow ... brings a tear to my eye - just like the good old days. Except the listings were paper and you needed to go to the registry to get the amount owed. Who says you can't make money in real estate today !

Are you implying that you might be buying to make money?

[calmloki]

Quote:

Originally Posted by tryan wow ... brings a tear to my eye - just like the good old days. Except the listings were paper and you needed to go to the registry to get the amount owed. Who says you can't make money in real estate today !

Did you buy any from Real Estate Loan Fund back in the day? I think it was RELF - don't find them out there in a quick Google search. We have a way to go - used to was there were repos EVrywhere!

[tryan]

Most of my gold nuggets were found at RTC (Resolution Trust Corp) and HUD auctions. The rest have been negotiating REOs/OREOs with banks ... helps when they have special financing (a full point lower) to move the stuff off thier books.

The problem with the auctions was the cash in 30 days requirement .. at least with the REOs you could use a little leverage (all required 20% down though).

Quote:

Are you implying that you might be buying to make money?

I picked up a couple SFH which were REOs a few years ago ... still believe the big sale is years away (the economy is still doing well; liquidity still too high).