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.
VIDEO: The Truth About Flipping REO’s