First-time investors win home at Orlando Foreclosures Expo
For Immediate Release
First-time investors win home
at Orlando Foreclosures Expo
Jason and Alicia Goldberg, a married couple who live in Oviedo, received a duplex from REO Resolution Trust, LLC
Orlando – Jason and Alicia Goldberg were interested in buying their first investment property, so they attended the Orlando Foreclosures Expo last weekend. The married couple, who live in Oviedo, were like many of the expo attendees who talked to exhibitors about how to purchase bank-owned properties. The Goldbergs received an unexpected head start on their portfolio when they won a duplex which was given away by REO Resolution Trust, LLC, an Orlando company that owns and operates BankerREOs.com, buys bank-owned properties and sells them to investment groups and individual investors.
The duplex is located in Detroit and valued at $67,742. It includes four bedrooms, 2.5 bathrooms and 2,354 square feet of living space.
“We have bought many properties and it is our intention to give away one home per month,” said Will Bland, who is president of REO Resolution Trust. “The property that the Goldbergs received can generate $700 a month in rental income. After taxes and insurance, that is about $7,000 a year.”
The Goldbergs expected to leave the expo armed with information and knowledge about how to make their real estate investment dream a reality, but they never expected to depart with their first property, especially at no cost to them, other than the $10 entrance fee to the expo.
“Ironically, we were interested in buying a duplex as our first investment property,” Jason Goldberg said. “This is the first of what we hope will be several properties in our portfolio.”
The Orlando Foreclosures Expo brought together a diverse group of individuals and companies that work with foreclosures and short sales under one roof. First-time investors and seasoned investors were able to meet real estate wholesalers, brokers and agents who have a multitude of bank-owned properties at below-market rates. Homeowners facing foreclosure spoke to investors interested in buying properties, and professionals provided them with options if they want to sell their house, or remain in it and avoid foreclosure.
“It was exciting to see a young couple who wanted to get involved in real estate investing win the property,” said Phil Peachey, who is founder and organizer of the expo. The next Orlando Foreclosures Expo is slated for June 6-7 at the International Plaza. “They now have a home that can generate $700 a month in rent. That is substantial, especially for a young couple.”