The Best Investment of Property Foreclosures Essays

Decent Essays

After spending time analyzing the two foreclosure properties, I was able to come up with some valid and interesting information that allowed me to choose which asset would be the best investment. Although one property seemed to be a better deal than the other, after doing research it was clear that was not the case. Many factors had to be considered such as current and past market trends, cost and location. Working in the REO industry and dealing with foreclosure properties across the United States everyday really helped me come up with my answer. I was able to utilize the knowledge I have obtained through my career to better understand which of the two properties would really be the best investment. I have seen individuals and investors …show more content…

Even if I decided not to sell the property and rent it out instead, the rent in North Carolina would be more profitable by $500 than California. The statistics show current fair market rental value in Chapel Hill for a 3 bedroom 2 bathroom is $1,770 and in Stockton it is $1,200. When looking to make a profit on a foreclosure there are a lot of things that an individual must look into. A lot of foreclosed properties are not in pristine condition. Many of them will need upgrades and repairs. Although the California property has been completely remodeled and it is turnkey, the return amount for selling this property is still not as profitable as it would be to renovate the North Carolina property and resell. The Chapel Hill property needs many upgrades, both interior and exterior. Some key selling points people are looking for in today’s market are curb appeal, kitchens, and bathrooms. For the curb appeal of this property, the red sidewalk and brick would need to be toned down to a more neutral color. I would also have a painter come in and paint the exterior and interior of the property as well. The shrubs in front of the property would need to be removed and replaced with a type of rose bush or palms to make the house look more inviting and not so dark and hidden. I would put laminate flooring through out the

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