subject: Repos Condo: Guidelines To Savings [print this page] Are you interested in investing in city-based real estate? Searching for a great condominium, but aren't sure how to find one in your price range? If either of these is true, you can probably learn a lot and earn a substantial savings or profit by looking into the earning possibilities of repos condos.
"Repos condo" is popular jargon for a condominium that has been repossessed or foreclosed on by the bank. These condos are typically sold at sharply discounted prices as much as 50% savings or more is possible at a foreclosed property auction and real estate bargain hunters know that a repos property can be a financial windfall.
Since 2005, the credit crunch has forced many banks and lenders to take a loss on mortgages and other loans, or to foreclose on the properties securing those loans. An increasing number of condos are hitting the markets at auctions and foreclosed property sales. They sell at bargain prices because banks are desperate to receive their money quickly to offset bad loans. As a result, repos condos are offered at bargain discounts that can make your dream property attainable at a much lower price.
Repos condos can be found almost everywhere, with both high-rise and low-rise condos available at auction. For many real estate investors, repos condos are ideal investments to use as rental properties or to flip, after a little bit of work, for a much higher price on the general market. If you can buy a repos condo for half of its market value, then resell it for full value, that's 100% ROI an amazing return on investment.
Whether you're looking for a condo to live in yourself, or seeking a real estate investment to rent or sell, repos condos are a smart way to invest less and make more money, fast.
