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First Choice Real Estate Brokers
Real Estate Investors
Opportunities
to Purchase Bank Owned Properties - Denver
The
foreclosure rate is not likely to bottom out for another 6 to 12 months
based on some reports in the industry. This is not good news for
home owners, but it is for buyers and investors.
Given
the US government's current debt level, inflation may also be on the
rise in about 6 to 12 months as well. So what opportunity is
there? If you have a good credit rating and some handy cash for a
downpayment and funds for repair work, you too can purchase a bank
owned property (one that has already gone through foreclosure and is
now owned by the bank). The bank is not in the business of
selling real estate, so they will typically sell at bargain prices.
If
you have the skills needed to refurbish such a home, you can turn
around and rent it out. If you are wise in your choices, you can
have a positive cash flow right from the start. As long as you
manage to get a fixed rate loan - or even better, pay cash - as
interest rates increase, the monthly rental amount increases as well.
Self
Directed Individual Retirement Accounts
According
to the
commonly accepted view in the investment industry, a “Self-Directed”
account is one that allows the account holder to choose their own
investments. In particular, a Self Directed IRA can accommodate
real
estate related investments (in addition to a long list of other asset
types).
I've
done it - you can too!
Mobile:
(303) 525-1662
Office: (303) 399-2566
Fax: (303) 380-3440
cj@lomheim.com
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2007 - 2010 Lomheim.com
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