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The Best Investment Of Property Foreclosures

867 words - 4 pages

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 make profits and I was able to learn from them what things they looked at and into before their purchases.
Although both properties are at the same price point, I would choose the North Carolina asset. By viewing the photo and description on the listing, I thought this property would not make me any profit at all. But after looking into the property it was clear this property had the most room for profit. It is in a nicer area, than Stockton. The city of Chapel Hill has made a positive name for itself and is one of the most desirable locations in North Carolina with excellent schools and community programs. Stockon does not offer the same positive feedback. The Stockton area does not come highly recommended.
A lot of homes in the Stockton area have negative equity. There are also many foreclosures. With so many houses on the market, the re-sale time would take longer. With more inventory, buyers have many more options. In Chapel Hill, not many listings come up. So when one does, it sells quickly. The average sale price for a 3 bedroom 2 bath in Stockton is currently $166,000. The average sale price in Chapel Hill for the same type of property is currently $311,000. Over the last five years, with values trending up and down the lowest price point in Chapel Hill was $275,000 and $121,000 in Stockton. These numbers tell me that even if the market takes another dive in the next couple of years, the property value in Chapel Hill will still remain more profitable than the property in Stockton. 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...

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