Venice "flip" under contract

A Venice, which the previous owners had been trying to short sell but ended up being sold at forclosure to an investor, is back under contract.

I am not sure about all of the details, but the short sale negotiation was not successfully completed prior to the foreclosure sale date. The home was then sold to an "investor", for somewhere around $230,000, who then did renovations and put the home back on the market at $325k. There appears to be a decent short- timeframe profit there.

Back in 2004-2005 ANYONE could make money "flipping" homes...today it is much more difficult, but it can still be done. Today, you have to REALLY know your market area values, you have to REALLY know rehab costs, you have to REALLY know rehab times, you have to REALLY know what your carrying costs will be, you have to REALLY know your exit expenses, you have to REALLY know your tax implications, and the list goes on.

But again, there is still money to be made. If you are interested in investing in this manner, AND you are a cash buyer...or hard money, call me today and we'll see if this strategy is for you. And I say "cash/hard money for this reason: the margins in flipping homes today can be thinner, the sellers of a "flippable" property will be most likely looking for cash offers and the costs and time associated with closing on a property with a mortgage can be prohibitive.

Thanks for taking the time to read my blog entries.

Steve

Foreclosure...back on the market

 
A recent bank foreclosure has just come back on the market...the bank-owned Copenhagen model, 1 story, 3/2/2, 1850+/- sq ft, lake, in Barton Creek is priced at $190,800!

This home was originally placed on the market by the bank on August 11th and was under contract in 3 days...

The previous owners, who lost the home to the bank, purchased it for $350,000 in August of 2006

Under Contract...ALREADY!

Just a few posts down, under "steal this foreclosure", I told you about new "bank owned" Winston Trails home that just came on the market at $198k...well, that home is already under contract, confirming our opinion that good deals are easily recognized by buyers as well as other agents and are snapped up almost immediately.

If you, or someone you know is serious about getting one of these deals, please call or email us today to see how to get a spot on our "deal-of-the-day" notification list.

Steal This Foreclosure In Winston Trails

Just came on the market minutes ago!

Copenhagen (3/2/2) 1857 sq ft, lakefront, Barton Creek...just put on the market at $198,900.

This home sold for $350,000 in August of 2006.

Call us ASAP if you want to try to buy this home...561-432-5202.