Flipping REO’s is definitely a business model that many investors practice. Just not me.
In today’s market ( I hate that phrase, BTW) there is a flood of REO’s. I’m sure you’re wondering if you can flip the houses that are REO (Real Estate Owned by Banks) a.k.a. “wholesale” these properties. I mean, after all, they are owned by a big corporation.
Are they motivated to sell? Are they willing to let you assign your rights in your contract for a fee? And how do you get around the $1000 Non Refundable Binder Deposit issue if you don’t have the funds to risk? Hmmm….all of these are very good questions, little mobsters. Learn the lessons about flipping REO’s here.