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Florida was hit hard following the real estate crash in the mid 2000s. As the market began to return, real estate investors saw the foreclosure market as a well-spring of opportunity and many took advantage of the asset class. However, as real estate markets have rebounded, foreclosure markets have begun to dry up. Investors have found it increasingly difficult to find successful strategies for bidding on foreclosures.
Our guest this show has been buying and selling foreclosure properties since the late 1990s. Focusing solely on Broward and Palm Beach counties, Eric Nathanson has developed successful strategies for bidding on foreclosures and has earned a leading reputation in South Florida’s foreclosure real estate markets. Eric is co-founder of Bidologist.com, a third-party turnkey investment company offering investors bidding on foreclosures a single source for investment solutions. This episode, Eric discusses the current trend in South Florida’s foreclosure markets as well as strategies for investors bidding on foreclosures.
- Broward and Palm Beach Foreclosure Markets
- Majority of real estate markets returning to pre-crash point
- Large foreign investment/flight capital base
- China, Brazil, Venezuela, Russia
- FC supply thinning
- Investors no longer able to cherry-pick from select areas
- Must cast wider net to suit investment goals
- Online bidding
- Easier for investors to gather info on properties
- Bidding pool expanded internationally
- Bank has option to hide bid, making bidding more selective
- Likelihood of future foreclosure markets slim
- Financing regulations much stricter
- Cash-laden market
- Possible market for investors who can afford to purchase condos with rental restrictions and wait them out
- 5% down required for bidding on foreclosures
- Bidologist.com
- Turn-key investment solutions for investors bidding on foreclosures
- Personal relationship with clients
- Strategies suit individual investor goals
- Fees based on volume, property value, etc.
- Handles due diligence
- Preliminary and full title searches, property inspections
For any further questions regarding strategies for bidding on foreclosures, contact Eric by phone: 954-735-4000 or by email: info@bidologist.com
To find out more about the services offered by Bidologist.com, visit their website!