Your Gay Real Estate

I write this blog post from the perspective of a person who has successfully purchased 6 foreclosure properties fixed them up and then sold them at a profit. 

When people think of getting a deal in real estate they almost always seem to think real estate foreclosure or real estate short sale.  Don’t get me wrong, foreclosures and short sales can be a great deal, but there is also risk involved.  Take the Morristown NJ Foreclosure I was trying to purchase a few weeks ago.  The home is sitting vacant, no lights, no water, no heating, nothing.  There is no disclosure statment to tip me off to problems which were known to the former owner, the bank knew virtually nothing about the house other than the address, the amount of the mortgage they foreclosed on, and oh yeah, the fact that they were loosing thousands of dollars every month on this house.

So to start the process off, I inspected the home from top to bottom, making notes as I went about things I wanted to change in order to make the home more sell able for a profit, and how much I thought each thing would cost.  I looked very carefully at the heating and air conditioning systems to see if I could tell how old they were.  I took note of all improvements that had already been done to the home so that I could check to see if they had been done properly, and of course I looked for deal killers, evidence of termites, foundation cracks that would be costly to fix, and other stupid things that might need to be undone.

Because towns like Morristown New Jersey are incredibly fussy about things, I wanted to be very careful that I covered myself against unexpected problems with the house.

In the end, I did not get this house.  There was a bidding war, which drove the price of the home to about $20,000 above the listed price.

When thinking about buying a home to live in, or as a real estate investment, foreclosures are likely to be near the top of your mind.  That is OK, just make sure you are working with a New Jersey Real Estate Agent who has been through this process a few times and has had successful results.  Like I said above, I have flipped 6 foreclosures so far, and made money on every one.  Some of them I made great money, some just average money, but I made money.

James Boyer
Gay REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct

If you are looking for a luxury home, or in a gay ghetto, work with a experenced gay real estate agent who can help you get the best deal on the home you will love.