Alive and well sdres. There are a few sources of these sorts of transactions. First off you have smaller time guys doing it. This would be like the guys that a client of mine purchased from last summer. This group purchases onesy, twosy homes at trustee sale, then resells them. They don’t need any hard money lenders because they have raised the cash within the investment circle they have. So that is one source of purchasers at TS sales. Another group would be large portfolio purchasers but these guys don’t generally buy to flip immediately. They usually have longer term forecasts. They also do not buy from the TS but directly from lenders for extremely reduced prices but they buy homes in bulk to receive these discounts. So it is likely that the Spruce Run condo was of this type of purchase. I am seeing a pretty strong number of listings like this. I would bet we have more flips now then we have had in 2-3 years.
