Investors looking for real estate opportunities may choose to look in Tehachapi. Although the foreclosures plaguing the Kern County area are unfortunate for the former homeowners, they present an opportunity for both the homeowner and for investors.
All these folks who have found themselves upside-down and unable to pay their mortgage payments still need a place to live. Their payment problem may be the result of having purchased for top-dollar at the height of the boom.
Now, market values have slipped so far that even with reduced pay they could probably have afforded to buy the same home today. Unfortunately, that doesn’t mean they can pay their 2005 era payment and so, often wind up losing the home.
In steps the savvy investor, snaps up the house in a short sale or as a foreclosure and turns it into a rental. Everybody has to live somewhere and people who have just lost their home to foreclosure will have to wait years before they can buy a home again.
Interested in discussing this great opportunity? Call, click or email through our contact page today.