Real estate records from the East Coast to the West Coast show that many investors these days are large-scale ones who buy up properties by the dozens or even hundreds. However, these buyers aren't the only ones taking advantage of affordable housing conditions.
The South Florida Sun-Sentinel reports smaller investors are also making headway in the residential real estate sector. A number of these people are buying small, distressed properties - many with the hopes of flipping them for a nice return by putting them back on the market after some alterations and upgrades.
One such investor is Mike Benton. He told the Sun-Sentinel he recently bought a home for just under $170,000. After roughly $35,000 in remodeling done to the residence, he put the home back on the listings, and ended up offloading it and making a profit of more than $20,000.
Benton noted he has no plans to stop buying homes, though it may be difficult to secure one or more given market conditions.
Investors who purchase properties in bulk don't appear to be going away from states like Florida, where the foreclosure inventory has been considerable. According to RealtyTrac, more than 5,200 properties in the Sunshine State were bought by investors last year.