Real Estate Investing Blog

For those who are looking into buying multiple properties as a part of their real estate investment business, one of the options that may soon be available to help you to grow your business is - of all things - the internet. Of course, they aren’t talking about researching markets online (though that’s a good idea when you are going to be buying multiple properties) nor are they talking about looking for financing online: instead, there’s talk about homes themselves being put up for auction online:

(source)New legislation passed by Congress that allows counties to conduct online auctions could help alleviate some of the foreclosure pressure, but just how much is unclear and for now the situation remains serious.

Nowhere are foreclosures more prevalent than in states like Florida, which saw the largest hyperactive markets during the good times and are now experiencing the largest busts, thanks to loose lending standards (or no standards at all) during the boom.

The challenge with buying multiple properties online is that there is no way for you to look at the properties before you buy them. It’s impossible really to evaluate any deal completely without seeing the properties that you’re thinking you will buy (and lack of deal evaluation is something that can end up costing you a great deal of money).

In other words, if you were to say “should I turn to the web to buy multiple properties,” the answer that you would likely get is this: you may want to do some research, but only looking for properties online may not be your best plan ever.

This entry was posted on Monday, August 18th, 2008 at 5:03 pm and is filed under Buying Multiple Properties. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.