Private Mortgages in the US
Does anyone think that investing in US real estate mortgages could be worth the associated risk? I am a licensed mortgage broker and real estate broker in Florida; licensed since 1988. It seems to me that there may be an opportunity to take advantage of the depressed real estate market and dollar. I’m not a foreign exchange expert, but shouldn’t the dollar recover somewhat over the next several years? I’m not implying that this should be a quick trade, but a long term investment could produce a good return. Of course proper underwriting would be necessary. The mortgage file should be processed as if was being processed for a bank with credit histories checked, income verified, and independent property appraisals. Alternatively, you could buy the real estate. In my area prices have dropped more than 50% in some cases. Over the next twelve they could drop a little more, but eventually they should begin to increase again. This happened in real estate here in 1990-1991. Back then those lots were selling for $5,000. In 2005 those lots sold for over $50,000. Now they’re back to $20,000. On a large scale I’m sure we would be faced with a list of international banking regulations. My license, however, allows me to arrange private mortgages between private parties. As far as I know there is no restriction based on nationality. Does anyone think there is any interest in the UK?
|
