Bulk REO's - Investing In Bulk REO Packages
8.7 هزار بار بازدید -
12 سال پیش
-
Bulk REO Packages Can Be
Bulk REO Packages Can Be Bought At Severe Discounts. Here's What Real Estate Investors Need To Know About Bulk REO's...
Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I've got quick video on Bulk REO properties.
What Are Bulk REO Properties?
Bulk REO's are foreclosed properties owned by banks, after a failed foreclosure auction, that are packaged together, and sold at steeply discounted prices.
Why? Banks, and other lending institutions, are not in the business of managing properties. Paying property taxes, hazardous insurance, utilities, and maintenance costs create financial headache for the banks. So they would prefer to sell these bad assets in bulk at a discounted rate, rather than liquidating them one at a time.
Bulk Description
- Residential - 1-4 family houses/condos
- Commercial Packages - Apartments (5+) units, office buildings, shopping centers, retail, etc...
- Performing or non-performing mortgage notes
- Location - all over the U.S., region, state, city, or even zip code specific
- Cost - Few hundred thousand to several million, depends on seller
- Finding Bulk REO Packages
***You want to make sure your contact has "direct connections" with the owner of the bulk reo package. Make them prove it before going into further detail. Lots of people will claim they do, only a few actually do.
- Tons of online resources/companies that sell bulk reo packages
- Call banks, credit unions, - Request for REO Tapes
- Real Estate Brokers/Agents - Referrals
Investing with Bulk REO Properties
Items needed:
- The buyer will be given a packet of documents that will need to be completed. This packet will include...
- NCNDA (Non-Compete Non-Disclosure Agreement) to protect all parties
- MFA (Master Fee Agreement) that defines compensation for all parties
- LOI - Letter of intent - define the criteria and the price of the properties that the buyer wants
- POF - Proof of Funds Letter - verify the liquid funds are available
Process:
- Seller assembles custom tape tailored to the buyer's LOI criteria - Package pricing are usually expressed as a percent of BPO value (i.e. 50-60% of BPO). May take a few days...
- Due Diligence period - review the properties - remove specific properties that do not reasonably meet the criteria. This period is typically 7-10 days but may vary based on package size and the seller.
- During this process some sellers may require a deposit
- Upon Buyer Approval - wire remaining balance to seller to complete transaction
Profit Centers:
- Representative - Buyer or Seller - Bulk REO Brokers are able to package for either party. You make money by charging points, or the spread.
- Cash Buy Approach - Tier 1 Buyer - greatest discounts - wholesale for maximum profit
- Rent or Sell Approach - sell traditionally or seller finance
Bulk REO Packages give the average investor an amazing return on their investment. Starting out, the best chance any investor has of getting their hands on a "real" bulk REO package is from a reputable Bulk REO Trader.
Like in any business, do your research and make sure to play your cards right. Do not rush into anything, find a reputable Bulk REO Trader or company and call them. Don't be afraid to ask them questions.
Remember, It does not take a fortune to get started but you can make a fortune once you get going.
Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you'll be automatically notified when we upload more quick video tips for you. Take care and good investing.
Watch This Video on REIClub.com:
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Bulk REO's - Investing In Bulk REO Pa...
Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I've got quick video on Bulk REO properties.
What Are Bulk REO Properties?
Bulk REO's are foreclosed properties owned by banks, after a failed foreclosure auction, that are packaged together, and sold at steeply discounted prices.
Why? Banks, and other lending institutions, are not in the business of managing properties. Paying property taxes, hazardous insurance, utilities, and maintenance costs create financial headache for the banks. So they would prefer to sell these bad assets in bulk at a discounted rate, rather than liquidating them one at a time.
Bulk Description
- Residential - 1-4 family houses/condos
- Commercial Packages - Apartments (5+) units, office buildings, shopping centers, retail, etc...
- Performing or non-performing mortgage notes
- Location - all over the U.S., region, state, city, or even zip code specific
- Cost - Few hundred thousand to several million, depends on seller
- Finding Bulk REO Packages
***You want to make sure your contact has "direct connections" with the owner of the bulk reo package. Make them prove it before going into further detail. Lots of people will claim they do, only a few actually do.
- Tons of online resources/companies that sell bulk reo packages
- Call banks, credit unions, - Request for REO Tapes
- Real Estate Brokers/Agents - Referrals
Investing with Bulk REO Properties
Items needed:
- The buyer will be given a packet of documents that will need to be completed. This packet will include...
- NCNDA (Non-Compete Non-Disclosure Agreement) to protect all parties
- MFA (Master Fee Agreement) that defines compensation for all parties
- LOI - Letter of intent - define the criteria and the price of the properties that the buyer wants
- POF - Proof of Funds Letter - verify the liquid funds are available
Process:
- Seller assembles custom tape tailored to the buyer's LOI criteria - Package pricing are usually expressed as a percent of BPO value (i.e. 50-60% of BPO). May take a few days...
- Due Diligence period - review the properties - remove specific properties that do not reasonably meet the criteria. This period is typically 7-10 days but may vary based on package size and the seller.
- During this process some sellers may require a deposit
- Upon Buyer Approval - wire remaining balance to seller to complete transaction
Profit Centers:
- Representative - Buyer or Seller - Bulk REO Brokers are able to package for either party. You make money by charging points, or the spread.
- Cash Buy Approach - Tier 1 Buyer - greatest discounts - wholesale for maximum profit
- Rent or Sell Approach - sell traditionally or seller finance
Bulk REO Packages give the average investor an amazing return on their investment. Starting out, the best chance any investor has of getting their hands on a "real" bulk REO package is from a reputable Bulk REO Trader.
Like in any business, do your research and make sure to play your cards right. Do not rush into anything, find a reputable Bulk REO Trader or company and call them. Don't be afraid to ask them questions.
Remember, It does not take a fortune to get started but you can make a fortune once you get going.
Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you'll be automatically notified when we upload more quick video tips for you. Take care and good investing.
Watch This Video on REIClub.com:
https://reiclub.com/real-estate-video...
================================================
🔔 Subscribe for more videos like this:
https://www.youtube.com/reiclub?sub_c...
FREE RESOURCES FOR YOU
================================================
📝 Seller Forms Package: https://reiclub.com/free-seller-forms/
📝 Contractor Cheat Sheet: https://reiclub.com/contractor-cheat-...
📖 "Think And Grow Rich" Book: https://reiclub.com/think-and-grow-ri...
📖 Other Real Estate Books: https://www.amazon.com/William-Johnso...
REICLUB SOCIAL SITES
================================================
👥 Facebook: Facebook: reiclub
👥 Facebook Group (Unemployables): Facebook: unemployables
🐦 Twitter: Twitter: reiclub
📸 Instagram: Instagram: reiclub
#reiclub #unemployables #onedealaway #realestateinvesting
Bulk REO's - Investing In Bulk REO Pa...
12 سال پیش
در تاریخ 1391/04/14 منتشر شده
است.
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