February 11, 2011 in Books and Book Reviews
As everyone knows, foreclosures have hit an all time high in this country. When a lender is forced to take back a property due to a foreclosure, they must deal with the fact that they now have an asset that they really don’t want; one that they are ultimately going to have to sell. Banks and mortgage companies are not in the real estate business, so this presents a huge opportunity for real estate investors. Having “bad loans” on the books reduces the amount of money that they themselves can borrow so they want to move these properties off the books. This is where the opportunity comes in for investors. Bank owned properties or bank “REO’S as they are commonly called, can often be great bargains for investors!
Is This Book Only For “Newbies”?
Whether you are a beginner or an experienced investor that just hasn’t ventured into the world of bank owned properties, “Flip This REO” by Stephani Davis is a complete; easy to read e-book that will take you from where you are today down the path to buying your first REO property. It provides an easy to follow road map that will practically guarantee your success if you follow the steps.
Working with bank owned properties can be a real challenge if you don’t know the basics. I know from personal experience that being able to learn from someone who has already been down the path you are taking is invaluable! There is no need to have the same steep leaning curve or make the same mistakes. Think of this book as a “short cut to success”. Steph will answer all of your questions and then some about buying bank owned properties (foreclosures) as well as other types of real estate.
Learn To Put the Pieces of the Puzzle Together
Like any of the other real estate investment strategies, there are so many things to learn. Rarely does anyone become an overnight success. This book will save you from making a lot of the mistakes others have made, and it will help fill in some of the elusive pieces of the puzzle when it comes to buying bank owned properties.
Some of the things that are covered in the book are:
- How do I find bank owned properties?
- How to get into the properties to inspect them
- How to evaluate the properties
- Estimating repairs
- Making offers
- Do I need earnest money to put down?
- Where to I find my buyers?
- What if my buyer backs out of the deal?
In “Flip This REO”, Stephani Davis also provides valuable information about deal analysis, choosing a good neighborhood and techniques such as “simultaneous closings” where you don’t actually have to bring your cash to the closing. This book is a wealth of information for folks just starting out as well as experienced investors.
Now the Perfect Time To Get Started
There has never been a better time to invest in real estate. Everything is on sale! Bargains are everywhere!
I’m sure you’ve heard the saying, “When you are ready to learn the teacher will appear”. Take the first step to financial freedom and grab a copy of this e-book at http://bit.ly/FlipThisREO.