2014 12 25 Harvey.Pdf (551.5Kb)
Between We Buy Houses and We Buy Wholesale By: Cori R. Harvey Introduction he distressed residential real estate market has always depended upon the innovations of private, micro investors to reorganize the Thousing market and redistribute distressed properties for the benefit of homeowners, home buyers, and lenders alike. This Article asks whether recent trends in residential distressed real estate investing have created a new niche for operationally-sophisticated, yet small and nimble, private investors. Traditionally, small investors in the distressed market segmented themselves into pre-foreclosure investors, who found deals from dockets and We Buys Houses signs, and post-foreclosure investors, who bought properties at auction and from bank-owned REO Author inventories. These small, local investors have traditionally enjoyed the benefits of intimate Cori R. Harvey is the William H. market knowledge and, in the case of pre-foreclosure investing, early market access to the Hastie Law Teaching Fellow at best deals in a given area. the University of Wisconsin Law School. She earned her M.B.A. Pre-foreclosure investors engage distressed homeowners in transactions designed from Columbia University and to avoid individual foreclosures. Pre-foreclosure transactions come in many forms, but her J.D> from Rutgers School of generally involve a distressed homeowner selling his home to a local investor, possibly Law - Camden and is currently leasing the home back from the investor, and possibly retaining an option to repurchase the pursuing her L.L.M as part of her fellowship at the University of home from the investor in the future. If the transaction involves all three steps, it is called Wisconsin Law School.
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