Housing Recovery Real Estate Investors buying for Real Estate Investment
REO Investment Property
Real estate investors are playing a key role in the housing recovery now underway, buying up bank REO property, wading into distressed neighborhoods to turn around boarded-up foreclosures into rentals.
Rick Weinberg of REDC’s Auction.com a company that has sold 19,000 foreclosed homes states that 48% of sales volume of his company is being driven by real estate investors.
Some of these real estate investors are buying homes for fixing them up and flipping them, others are becoming landlords and will flip the property when prices go up. Others are just buying and holding on to these properties for a long time. However they are creating jobs for contractors, carepenters, roofers, real estate agents, other real estate professionals, property managers and property management companies.
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