I'm still alive but been extremely busy with work and some old REI acquaintances. The rumor is that my REI friends have overseas investors interested in acquiring NJ property and they want me to be a part of this. So I've been busy poring over the latest foreclosure data and I'm utterly shocked by the damage that's out there.
Within a six town radius of where I live (secret location), there are over 600 new default filings in the last 3 months alone. Stalwart places like Bergen County are mushrooming to levels I've never seen before when I was an active foreclosure investor. Back in the day I never went near Bergen County because the filings were so pitiful and the property would be snapped up in seconds by the retail market. Now its a different story, from 320 filings to over 2300 in four short years.
Part of me wants to organize the investors and start buying but the other part of my is scared shitless right now because its really bad and could get worse...
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