Deal Or NO Deal
Ok im meeting guys every week with 30 , 40 , 50, upto 70 k in ther house that are willing to sale becasue of foreclosure. Tax , closing cost, and ins is so hgih in Miami, Fl im wondering whats a good deal. I know if the numebrs work then you go, but its pretty vague when the market is so crumby when its time to sale, have to buy low and sale low. I getting a feel that alot of season investors are not touching houses unless there is about 70 k - 100 k inthe house but some one thats doing it on a smaller scale to get in what would be a good amount of equity that mkes it worth while.?
Due to the market saturation of unsold homes and the absence of qualified buyers in South Florida you have very valid concerns. Only you can determine profitability after you have evaluated the transaction based on your premeditated exit strategy and the costs you expect to incur.
During the last few months there has been a noticeable increase in the number of cases at the public auction. It is my opinion that “investors” are also experiencing the financial strain of their own stagnant inventory.