Lenders offer quality properties for sale at the auctions at deep discounts to today’s market values. In addition, home buyers are readily available because of the lowest interest rates in 40 years. During the past several months, tREO has acquired over 70 properties valued at over $25 million. On almost every property, tREO executives own all or a partial interest and perform all necessary asset management functions.
Since the 3rd quarter of 2009, our executives have acquired over 70 properties, with an aggregate market value of over $25,000,000, mostly with our own funds. Almost every investment was purchased below 76% of current, appraised market value based on recent sales comps. In addition, we were able to get loan funding at 60%- 70% of the purchase price, with reasonable rates, expanding our yield even more. Most of the full cycle properties sold within 100 days of purchase, at prices exceeding our appraisals.