Home buyers are readily available because of the low, low interest rates and government incentives have stabilized home prices and increased affordability.
Since the 3rdrquarter of 2009, our executives have acquired over 50 properties, with an aggregate market value of over $16,000,000, mostly with our own funds. Almost every investment was purchased below 78% of current, appraised market value based on recent sales comps (even though the market is trending upward). In addition, we were able to get loan funding at 60%- 70% of the purchase price, with reasonable rates, expanding our yield even more. Most of the full cycle properties sold within 100 days of purchase, at prices exceeding our appraisals.
