A Killer Real Estate Deal??

[Lambo]

Okay so my friend is part of an investment club and they have a relationship with a bank that has an excess inventory of foreclosed properties all over the U.S.

This investment club is getting a wholesale deal for 150 houses which they are selling their members for $20,000 each. The market value for the houses were in the range of 80-100k before the real estate market turned to crap, and now they are valued at 40K.

Also there is a property management firm affiliated with this club that will help you either sell the house or find renters to rent it out for you.

Invest or not to invest?

[Gaulkin]

To little detail on your description and if you dont have alot of cash, perfect credit and a history of buying homes you wont get financing.

[MisterMcJib]

If you have the details worked out, it sounds like a sweet idea. I'm no expert or anything, but it seems like an interesting idea to buy real estate if you are able to upkeep the property in the long term. Obviously paying 20k for a 100k house is amazing, and the real estate market will recover

[GhostFac3]

I'm with Gaulkin on this. I would need a lot more information about the market now and in the future, the houses themselves and actual appraisals, and also the track record of this management company.

Then I would figure out how to come up with the Cash.

[BC SEO Guy]

sounds like low end houses in crappy neighbourhoods.

I work with a full scale developer here in Canada and we are buying $32mil worth of homes in Phoenix area for approx $120-$150k each - these are nice 1yr old homes in nice familay oriented neighbourhoods.

So I would be vary careful with something like this - will probably be very hard to sell them once the market recovers in 5 yrs from now.

If you want to invest in a solid company like the one I work for them pm me - but it's only open to canadians.

[Gaulkin]

sounds like low end houses in crappy neighbourhoods.

I work with a full scale developer here in Canada and we are buying $32mil worth of homes in Phoenix area for approx $120-$150k each - these are nice 1yr old homes in nice familay oriented neighbourhoods.

So I would be vary careful with something like this - will probably be very hard to sell them once the market recovers in 5 yrs from now.

If you want to invest in a solid company like the one I work for them pm me - but it's only open to canadians.

"but its only open to canadians" LOL

[BC SEO Guy]

"but its only open to canadians" LOL

lol yeah sorry - but I am sure there are comparable developers in the states doing something similar.

sorry lol good investments are hard to come by.

[Aletheides]

This is the time when investors like you and your friend sweep up the mess and get rewarded for it. I would look into it more, it sounds like something worth pursuing. Deals like these don't come around when the house market is solid.