WALL STREET MAKING IT MORE DIFFICULT TO FIND GOOD DEALS LEX LEVINRAD
According to Bloomberg, Colony Capital a real estate equity company owned by billionaire Thomas Barrack,
has allocated $2 billion for investments in single family homes. Colony Capital recently announced that they
were planning to purchase 1,000 single family homes per month. Blackstone Group the largest Wall Street
buyer of single family homes is now also the largest owner of single family homes in the United States,
according to a recent interview on CNBC.
So what does an individual
investor looking to cash in
on a great deal on a bank
owned property do when
competing with all of this
Wall Street money? There
is one area that Wall Street
has not touched yet, and
that area is short sales.
Individual investors that are
able to find homeowners in
foreclosure looking to sell
their home via the short
sale
process,
competition.
have
And
no
the
reason is because they are
dealing directly with the
homeowner,
and
the
property is not adv ertised
for sale anywhere. At some
point the bank will require
that the property be listed
on
the
Multiple
Listing
Service (MLS), but for cash
buyers dealing directly with
homeowners
There is one area that Wall Street
has not touched yet,
and that area is short sales
that
are
facing foreclosure is a good
way
to
get
properties
competition.
access
without
to
any