Having lived through this before, I can tell you that buying and holding right now is dangerous. Actually flipping is the only thing that makes sense if you can get it cheap enough. That’s a big “if”. The owner of the debt is going to be the one that allows you this deal. Like buying for 30% to 40% of the LOAN amount. Not the market value or any other measure. The loan amount. The first loan amount.
Given that foreclosures are rising rapidly, the lenders are capitulating because they hold the shadow inventory, so they know what’s coming. More of them! If you can get to them, and get them to do the deal, you’ve got a shot at making good money. Making money in a declining market is a game for professionals! And 30 to 40% off the first loan is the prices the best are paying, and they know their game very well. And they will be competing against you when you and them put your “flips” back out on the market.