Did you know that REO agents are the gatekeepers to some of the most exciting and profitable deals in the real estate market right now? With this economy, our nation is in trouble and homeowners and even investors are unable to make their payments. That means the bank is taking over all these properties and they really don’t know what to do with it. Well, I’m going to show you how you can break the barriers and get your piece of the pie. Plus, the banks could use your help…too!
Get connected with the best REO agents in your area: You’ve probably heard that networking is the key in POINT business. If not, you just learned something new. If you are going to go out looking for these properties yourself, you need to know how to talk to these REO agents. There are around 5 big players in each area and they all talk to each other so building the right kind of relationship is essential. Sure you could bribe them and give them football tickets, but it will end up hurting your bank account in the long run. You have to realize that these top REO agents think about “money” like everyone else, if you can show that you can perform, they will want to work with you. Find out who these top REO agents are in your market and schedule an appointment with them. When you meet these REO agents, be sure to speak very confidently and let them know that you will make them a lot of money. This will put you on the right side of the field.
Why go through all that trouble when you can find a wholesaler? Sure you can go out and find these top REO agents or you can have an experienced wholesaler do it for you. Your main goal is to buy the cheapest properties, improve them, and then sell them for huge profits. There are many wholesale investors who already have REO properties that are ready to sell as quickly as possible. I think Napoleon Hill put it best when he said “he doesn’t try to do or know everything, he has other men full of knowledge who can help him.” I think this is amazing advice for someone in real estate. Sometimes it’s good to pay that small fee to make your life easier and take on more projects to be more productive and make more money. If rehab is your niche, you don’t need to struggle trying to find REO deals all the time. You have wholesale investors who can offer you deeply discounted deals. Wholesalers will be paid an assignment fee, but that’s nothing compared to the equity you’ll have in these REOs. Not to mention, a wholesaler can design everything for you by finding a lender, contractors, and even delivering drafts to you, all on a silver platter. Life is so easy when you partner with others to succeed.