Focusing on strong real estate comps provided by InvestorCompsOnline will put you in the right place for Bulk REO investing.
Bulk REO investing is a saving grace of many real estate inventors desperate to climb out of the recession rut. And rightfully so, an REO is a sure way to bring in millions for pennies.
Here are some easy to follow rules when dealing with bulk REO’s:
•Going is good while demand and supply are high.
With so many properties going in foreclosure, supply of bulk REOs is reaching epic heights. Banks are desparate to clear out their over-flooded books. High demand for money making flips is perfectly matching the supply. It is clear skies for a gutsy REO investor.
•Buying bulk REOs sets realistic goals.
Think millions, not billions and you will better be able to gauge the angle, the investment needed and the weighed risk. Start smaller, work your way up and you will succeed.
•Good reputation reels the money in.
We all have to start somewhere. Same with Bulk REO investing. Do not hesitate to contact the bank with a nice rooster of Bulk REOs ready for you to take. To pony over Bulk REO, banks want to be sure you are good for it. You need to build trust. Start off with a few smaller investments to build credibility. Once you have it, you are on your way to the big leagues.
Bulk REO investing is a simple transaction with simple rules. You pay and banks give you REOs in bulk. To avoid having the door slam shut in your face, be honest. Communicate your budget, start with smaller banks, and move up. Banks love a reliable investor.
With bulk REO investing, you can work on your own schedule and with your own unique abilities. The wonderful thing about REOs is that it works with any budget. If a few million is out of your reach start smaller.
Lower risk means anyone can make it in Bulk REO investing as long as they apply solid business practices.
Bulk REO is the investing wave of the future. By borrowing from established practices of simple supply and demand, REOs is simply the best thing around.