New Site Specializes in Sub-Subprime
Here’s another possible way to cash in on the foreclosure action.
Newly introduced ReBuildUS.com charges $99 a month for access to rundown houses that banks want to unload. Foreclosure investor James Odell Barnes, who pays rock bottom for homes in poor neighborhoods, purchased the properties for RebuildUS.
Investors must purchase a minimum of five homes. The site includes links to companies that will manage the properties and handle selling them on an installment basis to buyers who can’t otherwise get bank loans – the sub-subprime market.
“It’s not an overnight get-rich scheme,” warns Benjamin Kim, founder and majority owner of RebuildUS.
Source: The Wall Street Journal, James R. Hagerty (03/02/2010)
Emily Lee
606-499-7836
Realty Group II
423-869-5111
No comments:
Post a Comment