The Ticker
Hedge fund interest sullies foreclosure discount
1/14/13 12:19pm
Foreclosure discounts are critical to most investors' business plans. To bring foreclosures up to market-ready or rent-ready status, investors spend a median of $7500 per property, or $9.2 billion per year according to a survey of investors by BiggerPockets.com and Memphis Invest. Should the foreclosure discount evaporate, it will be cheaper simply to purchase a full-price home that needs no repair.
