Apr 15, 2011

Foreclosure Investors Flip Homes, Reap Rewards
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Written by : Tom George| 0 | Real Estate
Frank Lloyd Wright's Hills-DeCaro House: Oak P...

Image by clarkmaxwell via Flickr

Mary Jane McGraw knew her foreclosure ordeal was over when a man showed up on her doorstep and told her that her home in Oak Park, Calif., had been sold. She had a month to leave.

McGraw, 66, hadn’t been able to make a mortgage payment for a year but remained in her house regardless, fighting for a modification. Then in March, she said, the man arrived. “He said, ‘I represent the investors who have purchased your home,'” said McGraw. According to a deed later sent to McGraw, the house had been bought by a California-based couple.

The strange visit from an investor liaison notwithstanding, McGraw’s home represented one of millions of foreclosure properties on the market. Despite the risks of buying into a sagging housing market, a small group of investors eye such real estate with cash in hand. And some want a quick flip.

 

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Tom George

Founder and CEO of Internet Billboards. A futurist and serial entrepreneur, as well as a professional fitness trainer, martial artist, and business strategist. Helped to develop inbound advertising. An avid content curator who enjoys finding those digital gems out there in cyberspace and sharing them with others.
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  • Wow there is like 975 comments on this at the original source. I read more than a few and it seems that there is a major perception out there that getting really wealthy or financially independent is totally bad. If it were only that simple.


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Tom George

Founder and CEO of Internet Billboards. A futurist and serial entrepreneur, as well as a professional fitness trainer, martial artist, and business strategist. Helped to develop inbound advertising. An avid content curator who enjoys finding those digital gems out there in cyberspace and sharing them with others.

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