In Tampa Bay, many people are searching for investment real estate for sale. Some people are purchasing these properties as rental investments for passive income. Other people are flipping these houses to put some quick cash in their pocket. The strong, growing, market and various HGTV shows, which highlight, specifically, the art of flipping, are a reason for an increasing number of people entering the real estate realm. Since there are more people involved and a heighted desire for these types of properties, it is becoming increasingly difficult for investors and developers alike to find investment real estate for sale.
Nowadays, since competition is so strong, one is lucky to find and buy an investment real estate listing through the multiple listing service (MLS). The few real estate agents who are still able to acquire these distressed listings are typically able to sell the properties before even having to list them on the MLS. For example, Real Estate Kate has an investment real estate listing, but already knows her Buyer Joe will want to purchase the property and therefore she never has to list it on the MLS. In this scenario the agents will only list the properties for numerical purposes, to record the sale’s data.
Today there are noticeably fewer properties hitting the MLS for sale, unlike back in 2008-2009, when the real estate market crashed. This bubble caused foreclosures to hit a record high of 81% (CNN). There was a surplus of foreclosed homes available. This caused banks and government owned agencies to offer REO listings to real estate agents. An REO listing is a foreclosed home that did not sell at auction and therefore the bank is required to resell on the open market. With an overflow of foreclosed homes, the market was full of opportunity.
Since the days of REO properties and agents are drying up, the sale of investment real estate property is becoming it’s own niche. Buyers are entertaining and looking towards other outlets and avenues to acquire these types of properties. Due to this, a big contributor that has sprung up in the market and sale of investment real estate is the wholesaler. Wholesalers are people who find and sell off market, not publicly advertised, properties. A large number or investors and developers are now utilizing wholesalers to source their deals. To learn more about these real estate deals and wholesalers, click HERE to check out “Off Market Real Estate; The Advantage of Wholesale”. For investors and developers interested in purchasing investment real estate, check out Real Estate Kate’s website, ww.realestatekatefl.com. Her inventory is full of off market, wholesale, investment properties. She typically has at least 15 properties at any given time. They range from single to multi family and have a purchase price that generally falls between $100,000-$200,000.
The properties are sold as is, at an under market value, with a clear title. It’s a perfect source of inventory, specifically in this market, for those interested in purchasing investment real estate. Key words used: investment real estate for sale, investment real estate listing, sale of investment real estate, sale of investment real estate property, purchasing investment real estate
Sources
https://money.cnn.com/2009/01/15/real_estate/millions_in_foreclosure/
