If you had the opportunity to invest $50,000 at an annual return of 6% would you do it? What if you took that same $50,000 and paid all cash for a piece of real estate that generated a net 12-15% return.

Now you understand the frenzy created by foreclosed, low-priced condominiums in good locations that have a history of good rents.

But you don’t sell condominiums. I know. The buggy whip salesmen didn’t sell cars when they become hot commodities either.

“Commissions are too low.” I know. Is it better to make one or two sales and bring home a whopping $20,000 for the year or make five sales a month and make in the six figures perhaps.

Unless you are already productively niched, you might want to take a look at this booming market, for several reasons:

• Once you learn the system, you will make a lot of money.

• You will meet lenders and make great contacts.

• You will do business with qualified people (investors).

• You will make more sales in less time.

• You will grow professionally

• You will feel more energized, because you are developing a skill.

For those of you who have been waiting for prices to come down, bottom out, stabilize, or whatever you want to call it, that time is now. Once a low-priced foreclosed condominium is listed, its as good as sold. They are not staying on the market but a few days, at least here in Orlando.

Just a few short years ago, investors bought for appreciation. Today ‘appreciation’ is the feeling they get when they are the winning bidder.

Stay tuned for David Fletcher's next column, part two of this series, entitled, "How Two Agents List Foreclosures."

Published: August 3, 2009

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David Fletcher has been a Florida licensed real estate broker and new homes sales and marketing consultant for 30 years. Along the way, he has sold more than $3 billion in new homes and condominium products for developers and builder/developers. He has been broker of record for 16 rental conversions and marketing consultant in 29 lender workouts for major communities and condominium projects, a featured speaker at the National Association of Realtors, and chaired the Florida Home Builder Association's Sales and Marketing Council. In 2008 he was named a 'Lifetime Achiever' by Keller Williams Realty's International Division. You may contact him at or call him at 407.234.2349.