Properties bought in 2020 or recently

[Monique Webb]

Hello everyone

Just want to introduce myself to the site before asking a question. My name is Monique a wholesaler for areas in South Carolina. I look forward to learning new things while on here, sharing what I can and connecting with like minded people.

But my question is for investors who are actively looking for properties. With the market shifting the way it is and the likely possibility of houses being up for grabs do to some who may have gotten in over their heads; are you all more interested in properties that have been occupied for awhile or would a house that has recently been bought an ideal situation? I know this may be a dumb question because I would imagine most would not care if the numbers were right. However, with these types of situations I am assuming that most would need some type of creative financing in order to make the deal work for both parties.

Which brings me to another question, is creative financing preferred over buying properties out right or vice versa?

Any input will be appreciated. Thanks in advance.

[Nathan Gesner]

Quote from @Monique Webb:

Welcome to the BiggerPockets forums!

As a general rule, people with a lot of equity are more likely to sell at a discount. If someone buys a house for $15,000 and thirty years later it's worth $150,000 and fully paid for, they may not know what it's actually worth and they may not care about getting top dollar for it.

A new owner probably has no equity, or very little equity, so there won't be much meat on the bone to purchase below market.