Did you see this article online this week about real estate investing? This is EXACTLY what we do in Memphis, TN and why our clients are poised to do fantastic on their discount investment property portfolios.
Source: Les Christie, staff writer, On Thursday August 5, 2010, CNN Money
No More Flips? RE Investors are now in Buy-and-Hold Mode
The real estate market is still dominated by distressed properties, and as opportunistic investors, we can’t ignore short sales, foreclosures, and defaulted note buying. One thing seems to be changing though. Whereas the preferred exit strategy used to be flipping a property or note for a quick profit, that strategy no longer works in many cases, due partly to new federal rules such as HAFA and HAMP, restrictions on same-day transactions, seasoning requirements, and general market factors.