Is Now the Time to Buy Houses If you are a true investor now is defiantly the time to buy houses. We are at an all time high in foreclosures, so you can buy a house for pennies on the dollar. Banks are getting overloaded in there REO (Real Estate Owned) departments with foreclosures and need to move inventory to keep their heads above water. The only way to move inventory is to price the property to sell to avoid carrying cost. The best time for us to buy homes is in a slow market due to that is when you can find the best deals. I know what you’re thinking can I flip a house in today’s market the answer is yes, but right now is a great time to buy rental properties. If you’re going to flip a house you need to get a great deal when you buy the house, because you will need to be able to sell the house about 5% under market value to avoid carrying cost. Make sure you get an inspection and a good contractor, so you can get a really good estimate of what you cost will be. Like I said it can be done, but you need to make sure you cross your I’s and dot your T’s before buying the house. Bottom line is when everyone else is jumping ship that is the best time and most profitable time to buy for true investors. |
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