Cherry- Picking Bulk REO Tapes Is Profitable
|If you are absolutely tired of the hassles of buying investment properties you will want to read this article. I too once had to deal with the same struggles that many of you investors are dealing with right now. |
This lead me to start looking at other options to buy discounted investment properties and I am so happy I made that decision.
- I was tired of dealing with the:
- REO agents who want you to practically bribe them to get your offers accepted
- The bidders at the foreclosure auctions who bid the houses up more than they are worth.
- The bandit sign police-who keeps taking my signs down and preventing me from getting leads, and worse
- Mr. Loss Mitigator from the bank who always seems to have a "bad- attitude" and never remembers a word from our previous conversation
The cure to all your anger and frustration is BULK REO investing. No more kissing up to REO agent's, no more dealing with having to bid at auctions, no more harassment from the bandit police and no more phone calls with loss mitigators who lost your files.
Here is an easier way to get better deals and if you act now before everyone else finds out about this secret you can make money hand over fist.
It is a little known secret that some Bulk REO Traders will allow you to "cherry- pick" their bulk REO packages. It is not uncommon that if a trader has a 100 home tape that is trading at $1,000,000, he may allow you to "cherry-pick" the list at a premium.
If the average home is selling for $10,000, the trader may require you to pay $15,000 (at a premium) per home to give you the rights to cherry- pick. However, the home may still be worth double the premium price @ $30,000 or maybe even more.
A few weeks ago a Bulk REO trader presented an investor I know with a BULK REO tape of sixteen properties. The investor decided to pass on buying the package, but did notice a couple of gems in the package that he was sure were worth something. He asked the trader if he could "cherry-pick" out six of the houses he liked. He agreed, but at a premium.
The take-down on the tape was $160,000 @ $10,000 per home. The seller agreed to allow him to cherry-pick the six homes if he paid $15,000 per home. After doing his due diligence he realized that the homes were worth on average $45,000. When he consulted me, I agreed with his assessment.
Two weeks after he closed on the deal, and sold them for $22,500 per door and made a quick $45,000 without having to kiss up to a REO agent, without competing against other bidders at the foreclosure auctions, without being harassed by the bandit sign police- who takes down his signs, and without dealing with the loss mitigator with the bad attitude at the bank who always forgets his name.
Investing in Bulk REO's is the quickest and easiest way to buy discounted investment properties and sure beats competing with all of the other investors in the bull ring--that is what I do reguarly and profitably and happily teach others how to profit from this little known secreat as well.
|Kenny Rushing is a remarkable tale of a life turned around. A resident of Tampa, Florida who is an evolving account of transformation that is simply extraordinary. |
Kenny is best known for the moving story of his humble and troubled beginnings, and his phenomenal success as a real estate investor - in spite of the seemingly insurmountable odds he faced. He is a phenomenally successful real estate mogul, civic leader and devoted philanthropist. His company, Rehabbers Superstore, Inc., now grosses millions of dollars per year through real estate transactions and investments.
Kenny Rushing is quickly becoming known for the life transforming impact his uncommon wisdom is having on the lives of those who have benefited from his knowledge, wisdom, training and coaching. His goal over the next five years is to teach 1 million people how to achieve financial independence and flip their life through real estate investing. Kenny Rushing is a living testament that: If KEN Can Do It - So KEN You!
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without the express written permission of the Author and/or REIClub.com.
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