Hawaii presents a very unique real estate market, not only in that it is super expensive, but the opportunities to build wealth with short sale, foreclosure and bank-owned homes.
Short sale and foreclosure homes provides a unique opportunity for investor to salvage unmarketable homes back to health, and help it re-integrate into the community.
I guess that’s why we call it “rehab” when referring to renovating a real estate property.
Many local residence have bad impression of real estate investors. Many thinks that it is the bottomless pockets of real estate investors who is manipulating the real estate market to the point, where “affordable” housing is NOT affordable to them.
I’m sure there are many crooks out there doing just that.
But, the way I see it is that real estate investors’ job is to help local community by rehabbing poor-conditioned properties back to life and back to sellable condition.
Many short sale and foreclosed properties are in such disarrayed condition that banks would not lend money on. Which means, these properties are only available to cash buyers, who are real estate investors with the cash or connection to money lenders.
They’re the ones with vision and willingness to take the risk and borrow expensive hard money cash to buy and rehab the properties, bringing them back to life putting more available properties back to the market.
Hello…supply and demand…so now more credit-worthy individuals can now qualify for conventional mortgage from banks to purchase these properties.
Browse these Sources of Short Sale and Foreclosure Real Estate Properties: