Factors Affecting The Foreclosure Crisis Of The Residential Properties Of Wake County, North Carolina, Usa

1375 WordsOct 30, 20166 Pages
Objective To raise capital to invest in the refurbishing of residential properties in Wake County, North Carolina, USA. Investing in counties adjacent to Wake is also being studied. Plan To use proven methodology to acquire houses in financial distress, repair and improve them, then sell them on the open market for a gain. Methodology Properties with potential are acquired through foreclosure auctions at below market value. The properties to be acquired must meet defined criteria to ensure profitability. Necessary repairs and limited updates are made to prepare them for market. Transaction costs are minimized. Houses are sold through the Raleigh Regional Association of Realtor’s Triangle Multiple Listing Service on the open market. Market Wake County has a net population influx (20+ per day) due largely to the increasing employment availability in the technology sector as well as a renowned quality of life. Builders are finding available land very expensive and place an emphasis on building high end housing. Currently the available housing inventory is considered low. Although lending has become more stringent, there is still a steady amount of properties which become distressed and begin the foreclosure process each month. Such proceedings can stretch over years. Risk Properties obtained at foreclosure auctions are sold as is, without warranty, and may be occupied. They cannot be officially inspected before purchase. Structural issues, damage, or

More about Factors Affecting The Foreclosure Crisis Of The Residential Properties Of Wake County, North Carolina, Usa

Open Document