Real estate sources around the world are reporting that the U.S. government has approved a program that will allow Fannie Mae to auction over 120,000 distressed properties. I’m still pondering the long term ramifications although it’s terrific news for our students who are looking to buy and hold to create cash flow.
What has me a wondering about long term is the fact that once the property is purchased, it can not be resold for a period of years that has not been determined officially yet. That could be a huge barrier to large corporate investors and make the auction that much more enticing for our team and students.
We’ll be watching this very closely. Keep checking this blog for updates!