Vacant Inventory is EXPLODING (2022 Housing Crash Getting Bad); Deal Or Dud & Catch-Up!

Well, not too much to report this week. I did take the kids to the candy shop to?buy some of their favorite candy. My parents have a condo in Gatlinburg TN, they snapped a picture of an Mt. Lion right outside their front porch. Sightings of Mt. Lions are very rare and it absolutely?crazy that they took one right outside their front door. Joni and I enjoyed a raspberry?margarita, which was ok, we prefer the strawberry more. I hope you had a safe and blessed Labor Day!

This week I want to talk a little about the importance?of doing due diligence.

As you know I'm in the process of buying?6 assets, 5 performing & 1 sub-performing, and with these assets comes the collateral?files. The files on each of these assets should have Assignments of Mortgage (AOM), Allonge, Promissory Note, Mortgage, Contract For Deed, Deed of Trust, Assignment?of Sellers Interests, and Power Of Attorneys (POA). Depending on the type?of note it is some of these items will be excluded. A lot of times these notes are sold multiple times, heck the note I purchased in NC had been sold 6 times before I bought it.

I use an attorney to research these collateral files to make sure the proper documents are signed and show a chain from when the note originated to the day I purchased it.?

Yes, it costs?money but I know this will protect my private?lender and me in the long run. It also ensures we have a clear title and all the i's are dotted and t's are crossed so when/if we chose to sell the note to another buyer the note is 100% intact and I'm not kicking the can down the road to the next buyer.

One of my mission statements is "Always Do The Right Thing Even When No One Is Looking". I want to make sure I clean up the note if there are issues, so the next person can be assured?they are getting a fully intact collateral?file. By the way, this also makes the note more valuable to boot!

I don't take it lightly when people invest their money with me, I'm humbled and honored. I want to make damn sure I do my best to protect?our investments and having an attorney look over these collateral?files is a small price to pay knowing the security they provide. By the way, my attorney has been doing this for 30 years.

I never buy an asset without doing due diligence first!

The US Housing Crash is getting even worse as Inventory Continues to pile up in the Housing Market. Worse - much of this inventory is sitting "Vacant" as Home Builders have difficulty selling newly built homes while Investors are exiting the Market.?

The States with the biggest Real Estate Inventory Surge to date are Idaho, Arizona, Nevada, and Utah. Metros like Boise, Phoenix, Las Vegas, and Salt Lake City are getting slammed especially hard. But what's exciting for new Homebuyers and Real Estate investors is that the Housing Crash is now spreading.?

Especially in the Southeast. Where states such as Florida sellers are having difficulty selling their homes. Metros such as Lakeland, Tampa, and North Port/Sarasota are seeing the biggest increase in inventory. Again - these are markets with a big share of investors and home builders, which creates a big stock of vacant homes for sale.

Check out the video below:

As always I pray you have a great week, reach out to me, and we can discuss a few ways you can earn?above-average returns?on your money secured by real estate!?

Have a great day and God bless!