How will you rate with other real estate investors, who started out with the same capital in terms of earnings and competitiveness? Are you one of the successful investors your real estate investment club? Or do you continue to become as a novice investor in your group?
If you are not happy with your real estate investing results so far, then you have to step-up the game. And this year (2009-2010) is the best time for ordinary real estate investors to break-out from mediocre investment returns. Real estate investors are presented with tremendous opportunities to acquire investment properties in bank REO’s.
However, like all good business opportunities you need to compete effectively. And key areas you need to excel in investing in bank REO properties are ‘networking’ productively with key players in the REO industry, and ‘knowing’ what are deal closers with each respective bank.
You need to tie up or get closed to with bank asset managers and their REO brokers to get leads ahead of your rivals and to fully learn the requirements and preferences of the bank in selling their REO properties.
Do you want to be branded as a preferred real estate investor? How quick would they require you to respond to their counteroffers? Do they prefer 100% cash offers or large cash down payments with financing from their own lending department, so they can earn more money? How quick do they want to close?
Continuous follow-ups are also needed to acquire fresh leads fast. But of course, networking also involves learning your contacts’ own priorities and needs in order to have a mutually beneficial relationship.
To sum this up, competition in real estate investing for bank REO properties is also dealt with marketing campaigns (social marketing, direct marketing, e-marketing, free info products, and etc.) How one will increase your brand to bank asset managers and REO brokers as the top investor for buying REO properties?
How do you increase your brand to new home buyers as being the better and less stressful alternative to acquiring bank REO’s?
But, the new battleground in real estate investing is battled in the generating of bank REO’s and giving the consumers a more pleasant home buying experience.