This guy looks to be making some real money in a recession right now. I am deciding on which stocks to pick up while Barnes is picking up real estate for pennies on the dollar. It will be interesting how long he can keep this up before he runs into a property that he can't flip. Maybe it won't happen because he should be smart enough to know what will sell and what won't.
ABC has been following a story about a guy named Odell Barnes known as the Foreclosure King. It turns out this is the real thing. Odell Barnes buys foreclosed real estate by the thousands from banks, Fannie Mae and Freddi Mac. Which are two stocks I am thinking about buying into, just because if they are not nationalized and taken over by the government then they could bounce back after time. Maybe, I thought they were already nationalized myself though. Then resells the real estate to local investors who then locate and sell to, potential homeowners.
The Odell Barnes Foreclosure King storyshows you can make money in a murky economy, and lots of it. While the news is filled with stories of rich CEO's and their minions taking hundreds of millions of dollars in bailout money and then going on lavish vacations.
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