1st Dominion Realty
Are you looking for property to flip, that is buying a distressed property cheaply, renovating, and reselling to make a profit? Do you just want to buy a property to rent out for a few years while the market improves, then sell for a profit? Trying to acquire a stable of properties to rent out for a stream of income? How do you buy such properties if you don’t have a lot of cash?
This may be the best time in generations to buy property. Prices can be low and loan interest rates are still low. This is the “NOW TIME”! All kinds of properties have been and are being foreclosed on, and when those come on the market their price is generally lower than market value — sometimes much lower. Buying foreclosed (or REO) properties is not difficult, but there are aspects of such sales to be aware of. Buying a Short Sale property can be advantageous as well, but this type of sale is not easy, can take a long time, and involves some risk.

And standard sales (where the property is not in jeopardy of being foreclosed upon and is not a short sale) can be advantageous too. People who purchased their home before the housing bubble may have a lot of equity in that home. When putting it on the market for sale they can price it competitively with distressed sales. Knowing the market is what helps to discern these good buys.

And what if you don’t have a lot of cash to make such investment purchases? There are ways to structure a sale and financing that you can do so… Contact me! This is the “Now Time”!