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American Home Veteran Now Eyeing REO Market.
New York -- Don Henig, former president of third-party lending at American Home Mortgage, Melville, N.Y., has found a new career after mortgages: investing in foreclosed properties at public auctions.
Since the end of November, Mr. Henig has been involved in 30 home purchases.
His goal is to buy the homes at a deep discount for cash, fix them up and resell them quickly. He is out raising capital through his firm, First Light Capital of Farmingdale, N.Y. He works with another company, Island Properties, also of Farmingdale, to fix up the homes and then find investors that eventually will buy what he acquires.
Mr. Henig said he began researching the foreclosure market last summer and ...
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- Reckson Associates Realty Corp.(New York)(Brief Article)
- Magazine article from: Real Estate Weekly August 20, 2003 700+ words
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Source: HighBeam Research, American Home Veteran Now Eyeing REO Market.