Flipping REO’s – The Truth of the Matter
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
Flipping REOs is just one dynamic to the real estate wholesaling business. It’s all about lead generation, and how many qualified [motivated] seller leads that you can generate and move through your funnel. When it comes to keeping this part of your business consistent, newbies tend to get frustrated and quit. That’s the wrong thing to do! All you need to do is remember that we’re in the marketing business FIRST. You must learn how to generate your own leads, and keep that train moving. Relying on other people and sources (like REO) will keep you hungry.
If you’d like to learn How to Wholesale Real Estate Step-By-Step then check out this blog post. It will give you an excellent bird’s eye view of how everything works. Then you can start breaking it down into bite-sized pieces until you find yourself at the closing table collecting bank.
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Top 3 Mailing Lists that You Should Be Mailing To
Yes, bank owned properties are one source of leads when it comes to wholesaling real estate. But it's always better for YOU to be in control of your own leads. Deciding on a mailing list for a direct mail campaign can be challenging. This 45 minute FREE training video will help you weed through all of the junk, and help you decide on the BEST mailing lists to mail to and start generating the most motivated sellers in your market!Register for the FREE Training by Property M.O.B.