About the Book
"Buy bank-owned properties at fire-sale prices! Banks and lending institutions today own more than one million foreclosed properties, and two million more are in the foreclosure pipeline. Banks desperately want to get these properties off their balance sheets, but there aren't enough buyers. The result is a real estate market with buying conditions investors and homeowners may not see again in their lifetime. In recent years many bargain-hunting investors and homebuyers have made the mistake of trying to get foreclosure prices via short sales and pre-foreclosures before the bank has reclaimed the property. They've been burned by endless delays and uncertainty of the messy foreclosure process. With bank-owned properties, that's over. You deal directly with a motivated seller, the bank, and get the foreclosure price without the hassles and complexity of a short sale or pre-foreclosure.This book shows you how to negotiate the best possible terms with the real estate owned (REO) department of a lender, including step-by-step instructions and no-nonsense advice on finding great deals, estimating fair market value, and closing the deal. You don't need a ton of cash, because REO investing at fire-sale prices is affordable for almost any investor or homebuyer. Includes ready-made worksheets, checklists, forms, and agreements Provides detailed, step-based guidance on buying REO properties. Written by a super-successful REO investor with fifteen years of experience"--Provided by publisher.
Book Synopsis
Buy bank-owned properties at fire-sale prices!
Banks and lending institutions today own more than one million foreclosed properties, more are in the foreclosure pipeline. Banks desperately want to get these properties off their balance sheets, but there aren't enough buyers. The result is a soft real estate market with prices investors and homeowners may not see again in their lifetime.
In recent years many bargain-hunting investors and homebuyers made the mistake of trying to get foreclosure prices via short sales and pre-foreclosure-- before the bank reclaimed the property. They've been burned by endless delays and uncertainty of the messy foreclosure process. With bank-owned properties, that's over. You deal directly with a motivated seller--the bank--and get the foreclosure price without the hassles and complexity of a short sale or pre-foreclosure.
This book shows you how to negotiate the best possible terms with the real estate owned (or REO) department of a bank or lender, including step-by-step instructions and no-nonsense advice on finding great deals, estimating fair market value, and closing the deal. You don't need a ton of cash, because REO investing at fire-sale prices is affordable for almost any investor or homebuyer.
- Provides detailed, step-based guidance on buying REO properties
- Written by a super-successful REO investor with fifteen years of experience
From the Back Cover
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.
About the Author
JEFF ADAMS is the nation's leading expert in in foreclosure and REO investing. His automated internet-based systems for attracting buyers, sellers, and investors have enabled him to be involved in hundreds of transactions since 1995, and during many of those years he worked as a full-time firefighter!
