Real Estate On Tap

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Bybel Is Very Creative (illegal but nevertheless creative)

Adverse Possession Would Be An Understatement

How about this for a business plan?  Research all the foreclosed homes in your area.  Make sure they are vacant.  Post a (seemingly legal) one-paragraph adverse possession writ on the door.  Break in.  Paint and freshen up the place as if it were yours.  Market the property to rent.  Find tenants.  Draw up seemingly legal rental agreements based on being the rightful owner.  Collect rent.  Continue trend until you have taken possession of 72 homes and rented out 31 of them, collecting upwards of $17,000 per month in rent.  Sound like a good business plan?  Sure … if it was legal!

The World Is A Wacky Place

Thomas Bybel, 48, is the newest creative schemer to be arrested Wednesday on one count of scheming to defraud.  The problem started when one of the homes he took possession of belonged to a police officer.  That was about as good a “tip” one could get. Read the rest of this entry »

U.S. Vacancy Rate Increases as Banks Seize More Homes

Excess Inventory Will Be Problematic

Stats – Q4 – 2009:

4.5% of mortgaged U.S. homes are in foreclosure;

18.9 million vacant homes according to census reports.

Full story courtesy of Bloomberg.com