Kevin Bundy
San Francisco, CA (USA)
Role(s):
California Fund
Find More Startups
Startup
Location:
San Francisco
Industry:
Real Estate
Year Founded:
2007
Number Employees:
INVALID
Description:
Due to the subprime mortgage crisis, the foreclosure market is ripe with an oversupply of auction properties.
Few estate investors have the cash to purchase properties at auction. Nor are they able to keep up with the massive number of properties being sold. Foreclosing lenders, overwhelmed by REOs, are deeply discounting their opening bids to entice investors. These lenders are taking significant losses in their efforts to unload.
The current situation presents an attractive opportunity: by tracking the properties with the greatest equity, we can position ourselves for the sweetest deals.