when you are buying homes (through non performing notes) for HALF OF REPLACEMENT COSTS you are getting a great deal. These are the kind of deals that are out there right now for diligent investors. Times like these is when big money is made….
Get in the game? Buy now or be priced out forever? Where have I heard these before. Buying a note for half the face value in this environment means you now own a note that in most cases, is just face value. Lots of stuff that was loaned against in the last ten years are zero’s. Far flung exurbs, big box retailers in those exurbs etc. Maybe if you are getting those deals in places where people will want/need to go in the next few years, you’ll make out like a king. First you gotta tell me where those people are going to want/need to go.
Forget the inflation/deflation debate, thats just one peice of the puzzle. The savvy investor is not the one buying distressed debt, but distressed debt with a FUTURE and that sir is where the money will be made. Personally I wouldn’t be betting on anything in Arizona or Nevada, but that is just me.
