Think foreclosures and discounted real estate investing deals have dried up? No way!
Giant private equity firms might have transitioned to investing in new construction homes, but their moves are making more room in the distressed market for other real estate investing pros.
It’s true that the housing market is marching into a new boom, but there are still endless deals out there. There are more deals, currently available, than the biggest real estate investing firms can absorb and they are plenty ripe for the picking if you know where to look.
Just look at the listing for the Versace Mansion on Ocean Drive in South Beach, Florida. The listing price was just slashed from $125 million to $75 million. This is one of the most well-known, prime pieces of real estate on the planet. Features include 10 bedrooms, 19,000 square feet, a 24 karat lined swimming pool and $33 million in lavish upgrades by Versace.
This might not be your cup of tea, or your average flip. It might not even be worth $125 million to some buyers. However, flipping a single property like this, even for a minimal 10% profit, could put a whopping $7.5 million in one lucky investors pocket. How many of those would you need to do a year to hit your goals?
Just flipping a single house like this would provide most with more money than they ever imagined possible and could set them up for life. For the really ambitious, it is just the tip of the iceberg. There are many discounted multi-million dollar homes out there to cash in on.
So stop making excuses about competition or difficulty in finding deals. If there are discounts like this being offered on homes in the nation’s hottest markets, you can find some near you too. The housing market still favors buyers, so take advantage of this opportunity.