In recent years, banks and lending institutions have foreclosed on several million properties, and now they have to unload them--at fire-sale prices. As banks desperately seek buyers for these properties, homeowners and investors have opportunities they may never see again in their lifetime. With bank-owned "REO," or "real estate owned" properties, you deal directly with a motivated seller--the bank--and get the foreclosure price without the endless time-consuming hassles of a short sale or pre-foreclosure purchase. And you won't need a ton of cash; almost any investor or homebuyer can afford…mehr
In recent years, banks and lending institutions have foreclosed on several million properties, and now they have to unload them--at fire-sale prices. As banks desperately seek buyers for these properties, homeowners and investors have opportunities they may never see again in their lifetime. With bank-owned "REO," or "real estate owned" properties, you deal directly with a motivated seller--the bank--and get the foreclosure price without the endless time-consuming hassles of a short sale or pre-foreclosure purchase. And you won't need a ton of cash; almost any investor or homebuyer can afford REO investing at fire-sale prices. How to Buy Bank-Owned Properties for Pennies on the Dollar explains the easiest way to find the best REO deals in your market, access private lenders and cash, find qualified buyers, and quickly maximize your profits. Get step-by-step advice on: * Why REO investing saves time and money compared to traditional foreclosures and short-sales * How to secure cash when you don't have any of your own to invest * How to research your market, create an investment plan, and develop an exit strategy * How to find the best REO agents and get them on your side * What to do next: wholesale the property to another investor, fix it up and sell it at retail, or rent the property for a positive monthly cash flow How to Buy Bank-Owned Properties for Pennies on the Dollar will help you get the best possible terms on the greatest bargains--and achieve the financial freedom you desire.
Jeff Adams has written stories since he was in middle school and became a published author in 2009 when his first short stories were published. He writes both gay romance and LGBTQ young adult fiction...and there's usually a hockey player at the center of the story. Jeff lives in central California with his husband of more than twenty years, Will. Some of his favorite things include the musicals "Rent" and "[title of show]," the Detroit Red Wings and Pittsburgh Penguins hockey teams, and the reality TV competition "So You Think You Can Dance." He, of course, loves to read, but there isn't enough space to list out his favorite books. Jeff and Will are also podcasters. The "Big Gay Fiction Podcast" is a weekly show devoted to gay romance as well as pop culture. New episodes come out every Monday at BigGayFictionPodcast.com. Learn more about Jeff, his books and find his social media links at JeffAdamsWrites.com.
Inhaltsangabe
Part I The Investing Opportunity That Won't ComeAgain in Your Lifetime 1
Chapter 1 The Perfect Nightmare for Bankers--A Dream ComeTrue for Investors 3
Chapter 2 Why REO Investing Saves Time, Hassle, and MoneyCompared with Traditional Preforeclosure and Short Sale Investing15
Chapter 3 How to Overcome Your Fear, Set Goals, and Get Started27
Chapter 4 Overview of the REO Deal 43
Part II REO Deals, Step by Step 51
Chapter 5 Where to Get the Money 53
Chapter 6 How to Research Your Market, Create an Investing Plan,and Develop an Exit Strategy 69
Chapter 7 How to Get Ready for Your First Deal and BuildCredibility 81
Chapter 8 Where to Find the Best REOs in Your Market 99
Chapter 9 The Importance of REO Agents: Finding the Best andGetting Them on Your Side 119
Chapter 10 Buying REO Properties at Auction 129
Chapter 11 The Right Way to Evaluate Deals and Price a Property141
Chapter 12 How to Make an Offer and Negotiate with Banks 159
Chapter 13 Getting the Paperwork Right 175
Chapter 14 How to Avoid the Most Common Mistakes Investors Make189
Part III Exit Strategies 199
Chapter 15 Wholesale Your Property to Another Investor 201
Chapter 16 Fixing Up and Selling the Property at Retail 209
Chapter 17 Buying and Holding: Renting the Property for aPositive Monthly Cash Flow 217