Investors Paradise!

In talking to our local escrow office recently I got some surprising information. Last year more than 30% of all closed transactions for 2011 were cash transactions bought by investors.

With the foreclosures and short sale properties still going strong it’s no wonder since many of the homes that I have viewed in the past year need too much work for a VA or FHA qualified loan.

Keep in mind that those institutions don’t have really broad tolerance for repairs. For example if a home does not have appliances in it, proper rails on stairs over 3ft they do not qualify for those loans.

So investors have come in and done a great job of clearing a lot of this inventory out while getting great deals in the process because many of them can be purchased under 100K some as low at $40K.

If you are interested in purchasing investment property give me a call.

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