St Louis, MO (PRWEB) July 24, 2010
Real estate prices dive again—more bad news from the real estate market? Short sales and bank owned real estate, the buzz words of 2009 and 2010, have become such common occurrences that few of those interested in investing in bulk REO real estate truly seem to understand the latest definition of the process or understand that these transactions can take up to a year from offer to closing table.
In this press release, the second of a four-part series, Mark Bradley, CEO of Ultimate Bulk REO Secrets, shares just a brief insight on the five-step process that has made his client’s wealthy beyond expectation and satisfied with their rewarding career in bulk REO real estate.
When the housing market exhibits record-breaking lows, property investors have the chance to capitalize with history-making fortunes through REO property investments. Unfortunately, many investors were met with unexpected obstacles; with new red tape and new government intervention practices concerning bank owned real estate, the housing recession was felt on the receiving end as much as it was for the homeowner.
That is, until investors found Bradley’s five-step process that took years of research, thousands of dollars, and almost financial ruin to discover.
Bradley’s process of discovery was described in his last press release, and he now shares these steps with the public:
Search out the type of REO properties you want to invest in that are undergoing foreclosure or are considered bank owned real estate. This may require marketing tactics such as door-to-door visits, cold calling homeowners in distress, direct mail, pay per click ads, flyers, networking, and more. Learning to market takes time, money, and expertise, but it sets you apart for others and means REO property profit. Picture Sherlock Holmes with his magnifying glass searching down the criminal. Sometimes searching out the best bulk REO real estate can be like finding needles in haystacks; buyers must find the right person with the right property. This is the first step in investing in short sales and bank owned real estate. Everything else is secondary.
Homeowners must entrust their business to you and not a competitor. There are many realtors and short sale investors walking in your shoes, and your message must stand out above the noise. If the homeowner of the REO property doesn’t respond, you’ve got nothing. Fall short in this step, and like the first, it could easily mean no money in your checking account.
Homeowners must be comfortable working with you as their professional investor. The ball is in a homeowner’s court even if they may be experiencing financial pains. They must be committed to you and the process. One of 100 things could potentially go wrong: they may finally get a job, they may renegotiate their loan, a competing investor may be more appealing to them—nothing is guaranteed just with an initial agreement between you and the homeowner. Investors must learn how to find the right homeowner, The One, and steps to keep them committed through the process so investors don’t have to start over with Step 1.
The bank, lender, creditors, and other lien holders must be willing to work with you. Understand that the delicate processes of REO real estate sales involve a team, but you still hold the profit potential. Unfortunately, due to the economy, the banks and lenders are getting burned and facing major financial loss from foreclosed mortgages. Once you get the 2nd lien holders to settle, you and a property lawyer should make sure the ‘team’ is satisfied and the liens are recorded properly at the courthouse.
Bradley says, “Imagine putting in all this work just to have one pain in the rear creditor who wants a full payoff on their bad loan. So many deals get killed at this step. Much pain and no gain if you get knocked down on step 4.”
Congratulations if you are persistent and reach the final step. But you’re not out of the woods yet, because the distressed homeowners may be emotionally frozen and could be unpredictable. If the homeowner should file bankruptcy, six months to a year could be added to the foreclosure process, and they could always run away from the problem in financial panic. However, if you get through the final step, buyers must be prepared to overcome any roadblocks, obstacles, and pitfalls to approach financial gain.
"Regardless, you must successfully complete each if these 5 major steps to close one short sale deal. That’s just one deal."
Bradley discovered a better way. A way to bypass all of the hassle of the 5 steps above.
Find out how by visiting his website at: http://www.ultimatebulkreo.com/
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