With fewer foreclosed homes to buy, investors move to standard sales
Frustrated, stressed and wanting a new path in life, she decided to reinvent herself through real estate investing. Friends and family told her real estate investing was for people with money and experience. Some even expressed resentment and actively discouraged her. Recently, Jen called to tell me: “Just six months after starting, I got to walk into my office and tell my boss I no longer needed her services!” Jen quit her job and has done more than 185 real estate transactions so far and feels she is being the Mom she always wanted to be.
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Schaben, Los Angeles Times / September 10, 2013) Also September 13, 2013, 5:00 a.m. Just last year, policymakers turned to real estate investors to rescue the housing market. Fearing the foreclosure crisis could drag on for years, the Federal Reserve advocated renting out foreclosed homes as a market-based solution. Government-controlled mortgage titan Fannie Mae experimented with selling big pools of them to deep-pocketed buyers. Few realized then that investors would respond with overwhelming force: Big and small players have injected billions into the market, racing one another to buy up foreclosed homes in post-crash markets.
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