No generation in our history has ever dealt with the number of foreclosures and defaulted mortgages as is happening now. But successful real estate investors are turning these lemons into lemonade in an extremely profitable innovative way.
Bulk REO Investing is the name of the new technique, and its gotten the attention of numerous well-heeled real estate investors.
Foreclosures are at the center of the Bulk REO business, so we should consider the foreclosure process.
You cant understand Bulk REO Investments without understanding the process of foreclosure.
A home owner who misses one or more mortgage payments is faced with an ever-increasing volume of threatening correspondence from their lender. The lender directs the subsequent timing of the actual foreclosure proceedings. From that time through public auction is called preforeclosure.
The defaulted property is eventually auctioned, thus finalizing the foreclosure process. If there is no interested buyer at the foreclosure auction, the lender regains title to the house. The designation of REO (Real Estate Owned) is then attached to the foreclosed house.
Lenders have no interest in owning houses, and thus typically opt to sell their REO properties with a local real estate broker in hopes of a retail sale. However, lenders are increasingly willing to take much less than their REO property is actually worth. But the price of receiving such low pricing is the requirement to purchase multiple REO properties (a package) rather than individual properties.
Qualified real estate investors are more and more finding once-in-a-lifetime opportunities in these REO property packages. REO packages are simple to buy and sell with a well regarded source of financing in place. There are many options of funding for these deals including: hard money and commercial financing, as well as non conventional options such as hedge funds and private investors.
REO Goldminer.com is the best source to find and evaluate REO deals. We have taken these foreclosures and put them all in one place for you to access and determine value. Go to REO Goldminer.com and find your REO deal today.