Entrepreneurs in High-Foreclosure Areas Turn Homeowners Into Tenants
May 29th, 2009
May 29, 2009 This bank-owned 945 square foot Phoenix home is listed at $15,000 MLS ID #4174125 A recent New York Times article describes how the economic downturn and the foreclosure crisis are creating a new kind of real estate entrepreneur.A flood of absentee buyers are now looking to purchase foreclosed and REO properties at rock bottom prices and then offer them up to the former homeowners as rentals before the original occupants ever leave.Lou Jarvis, a freelance bidder in Phoenix, foll
