January 11, 2012

Alekxey Sabido

CNN En Español rang us yesterday for comment about their story on the government’s plan to sell REOs to investors in bulk to become rental units. Our very own Alekxey Sabido appeared live on the network’s January 10, 2012 8 p.m.  newscast on behalf of DREIA.   We’re extremely grateful to Alekxey of Miami Property Solutions, LLC, local real estate investors and property managers.

Government-controlled mortgage guarantors Freddie Mac and Fannie Mae, along with FHA, collectively own over 220,000 foreclosed properties. The CNN producer told us that possibly the first concentration of sales would be in the ‘sand’ states. Questions abound as to whether investors will be able to earn enough return to manage 50, 100 or 150 properties.  But it seems there is money waiting in the wings, so to speak, for the opportunity to manage a portfolio of single family homes.

Time will tell if non-institutional investors really get a chance to invest and exactly how the “exit plan” will work.  In South Florida, many condos have been swept up by funds and institutional investors who rent them for modest returns in anticipation of future market upticks.  Some have already cashed out.  We’ll have to see the particulars of the plans to determine how investors can profit while operating the properties and down the road.  And, whether regular folks can gather money and participate.

Here are the two articles provided by CNN’s producer:   U.S. Government Seeks To Sell Foreclosed Properties and White House Wants to Convert Foreclosed Houses To Rentals