What an amazing market to be creative. Fortunately, we can really help those that haven given up and are ready to walk away from their property. I know you have heard it before but, "Dont wait to buy real estate, buy real estate and wait." I just submitted an offer yesterday to purchase a single family home for my business portfolio. The owner wants out and will seller finance the property. After negotiating details on the phone, I am putting $5000 down and the price is $135,000. It is a 5 bedroom that rents at $1000 a month. This will be a long term hold with great cash flow.
My goal is keep this property and use it to 1031 into a larger multi-unit, development project, or another income producing property.
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