Las Vegas Company Cashing In On Foreclosures

PRLog (Press Release) - Mar 22, 2010 -
Under current market conditions, it has become nearly impossible to target reasonable investment opportunities in real estate however, one group has been hitting it out of the park "buying on the steps". Fortis Commercial Advisors, a Las Vegas based real estate company has been working with investors purchasing properties obtained through the Trustee auction in Clark County since the middle of last year. "Our investors have managed to return an average of over 90% annualized on past deals by staying focused on the right types of properties and neighborhoods" says Dean Jalili, a partner in the venture "although foreclosure is a difficult ordeal to go through, what we do is key in helping bring stability to the real estate market - without investor participation, there is no bottom" adds Jalili. According to Mr. Jalili, as many as several hundred properties can be auctioned daily in Clark County and by the same token, buyers are stepping in to take advantage of low prices and favorable financing. There is a risk involved however and many investors have been burned trying to go it alone. One of the primary risk factors is the inability to obtaiin title insurance prior to the purchase which has led to novice investors actually acquiring a 2nd generally with no value. " We've seen bidders end up with essentially a worthless piece of paper that they just threw away several hundred thousand dollars to purchase" adds Mr. Jalili.  

By obtaining detailed title and lien information and physically visiting each property before the auction, the group has been succesful in avoiding any pitfalls. The operation requires several drivers in all parts of town before and during the auction the process. At any given time, a triver may have to make it to a propety within 15-30 minutes. "If we don't see the property, we won't buy it no matter how good it looks on paper." The company intends to take its success to neighboring states where the process is similar within the next few months.  As more and more borrowers are finding that banks cannot be trusted to modify their loan in good faith, the tide of foreclosures will likely persist for several years.

Parties interested in learning more about this unique and very profitable investment vehicle can direct questions to info@fortisre.com or vist http://www.fortisre.com for additional information.

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