All Forum Posts by: Tom Palmieri

I'm looking for straight forward 70% rule homes here in Asheville and the pickings are slim. I'm also concerned about the foreclosures coming up in the 3rd to 4th quarters when the restrictions are lifted. We buy at the highest end of the market now. I don't want to be holding any flips in the 200 to 500k range come September. Maybe that might be too late too. I'm thinking fix and flip quadplexes. If I can't sell they will be easy to rent.

Your thoughts?

PS. Or stay in the high end market 800k and above where the economy doesn't matter.

Does anyone have any analytics on the future foreclosure market? I was speaking to a HUD representative and he informed me HUD is sitting on thousands of foreclosures. They intend to start releasing them in the 3rd of 4th quarter this year. My concern is what will happen to those of us who are purchasing homes in this hot market? We are all paying top dollar even with off market homes. Cost of supplies have risen like crazy, cost of the homes are no where good deals and everything is a risk.

My concern is that not only HUD homes will flood the market but also the lower to middle class homes will also take a hit, similar to the 2008 crash and if our timing is off we will get stuck with homes that are overpriced in the future foreclosed market.

How do you guard against this? Stick to high end over 800k homes, go into rental homes? Fix and flip quadplexes? I'd love to have some knowledgeable input and discussion.

Thanks