lpittenger
05-01-2007, 04:01 AM
I am seeing some talk about if it is wise to invest in pre-foreclosure property since the RE market is going to be glutted with these properties and probably harder to sell.
I see an upside to being a buyer if you don't mind renting out the property until the Real Estate market gains momentum. With all the foreclosures that are expected to file this year (1-3 million) there is going to be a huge need for property for these people to rent.
I believe Vegas will be a gold mine because in the past few years they converted so many apartment complexes into condo's to sell. It is now a lot harder to find a place to rent. You can only imagine what it will be like when all those people who purchased condo's get foreclosed on and try to find a place to rent. So if you are willing to rent the house and condo's out it may not be a bad investment after all.
I see an upside to being a buyer if you don't mind renting out the property until the Real Estate market gains momentum. With all the foreclosures that are expected to file this year (1-3 million) there is going to be a huge need for property for these people to rent.
I believe Vegas will be a gold mine because in the past few years they converted so many apartment complexes into condo's to sell. It is now a lot harder to find a place to rent. You can only imagine what it will be like when all those people who purchased condo's get foreclosed on and try to find a place to rent. So if you are willing to rent the house and condo's out it may not be a bad investment after all.