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Odell Barnes (entrepreneur)
James Odell Barnes Jr. (aka Odell Barnes) earned the nickname “Foreclosure King” after becoming one of the largest buyers of (REO) foreclosed homes in the United States. He is married to Wanda Barnes and has two step daughters; Bailey Oliger and Drew Oliger. For decades, Barnes has been buying foreclosed homes in bulk from banks and other mortgage-lenders and selling them to a network of private investors and direct to homeowners. Barnes and his investors sell the homes below current market value, typically with low down payments and higher-than-normal interest rates.
== Foreclosure crisis ==
Odell Barnes came to the attention of the public after being featured on "Nightline" 〔http://abcnews.go.com/Nightline/story?id=3084500&page=1〕(April 2007). In 2008, with the Financial Crisis in full swing, Odell was one of the few people still doing well in the real estate market. It was a buyer's market for Barnes.
:"Two years ago, you bought 100, 200 houses a month, now you buy 2,000 to 3,000 houses a month and it's going to be more," Barnes said. "They don't know what to do with them, the mortgage companies, and they're just dumping them."〔http://abcnews.go.com/Business/story?id=6249208&page=1〕
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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