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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (56693)	1/21/2012 2:02:11 AM
From: Perspective	Read Replies (2) \| Respond to of 119362

Hi John, I don't have the time to do fixer uppers personally, but it seems like a good time to be hiring people to do remodel construction. Of course it would be great to find some instant equity going into the deal, but it seems like there are enough investment dollars swirling around here that it's unlikely. I agree with waiting for prices to revert to the 2000-2001 levels. In some distressed sales, I'm starting to see that here in Portland. What is your strategy for locating motivated sellers? I can't imagine finding anything around here that would have a payback time of 60 months - that sounds like about twice the yield of most investment properties in this area. Yes, if you have book or website recommendations, I'd love to hear them. I don't feel terribly driven to be a real estate investor, but it seems to be the only way to secure some sort of income stream off of my wealth. I've watched a couple of Recontrust auctions, and they seem to have changed their strategy. While most homes went back to the bank in 2011, it seems like they're lowering their opening bid enough to move them. There are a few teams of professional investors at the auctions; they seem to compete amongst themselves for these properties. There's a house coming up in May that I'd really like to get my hands on, but my guess is that they're going to be there and outbid me... `BC