His investor friends then told him about foreclosure investing. The global meltdown effected everyone. While Mr. Wilson was worried about his real estate business, there were others who could not pay their installments against loans; caused by the many layoffs, unemployment and faltering businesses. As individuals started defaulting on their loans due to unforeseen circumstances, the bank foreclosed their properties. Now, in a bid to recover their unpaid loans, the banks wanted to sell the properties. Burdened with a large inventory of these foreclosed properties, their strategy was to liquidate them at attractive bargains. Investors bought these properties at discounted prices, repaired the homes from often dilapidated states, then either sold it at the prevailing market prices or held onto it, rent it out, until the market improved.
Mr. Wilson was convinced that this was the right business venture for him. He quickly discovered that this side of real estate investing differed significantly from the regular real estate investment. Times were difficult enough without the risk of possible set backs. He decided to take his business associates advice and hire a professional who would know all the strategies of foreclosure investing.
This is when New Western Acquisitions came into the picture with Mr Wilson. New Western Acquisitions, was incorporated in 2008 with an objective to provide knowledge, resources and opportunities to real estate investors through their real estate investment journey. From acquiring the property, through the repairs, until the sale, their real estate agents stood by Mr. Wilson to ensure a successful and hassle free journey.
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