Everybody loves to make a quick buck.
Everybody loves to receive countless checks.
But most importantly, every body loves and knows the true potential of the property market.
Did you know that you can become profitable in the property market without risking any of your own capital? REO wholesaling allows you to do this.
But what exactly is it? REO wholesaling is by far the fastest and easiest way to take advantage of the foreclosure crisis without ever having to worry about property liens, over priced properties and all of the stresses that come from certain types of real estate investment strategies.
I have devised a 5 part article series on REO Investing to help you take advantage of the huge opportunities available in the current foreclosure market.
In this article series, we will focus on REO wholesaling as it not only helps you become profitable, but it allows you to make a success of yourself without risking any of your own capital.
Like any business, it's important that you form a team when wholesaling REO properties.
You will need a mandatory Realtor in each area where you are looking to invest.
Secondly, you will need a contractor who will provide free estimates for you.
Although a contractor is optional, they do add their value for obvious reasons.
Another part of the team which is mandatory is an investor friendly title company and/or attorney.
It's important that you have the following tools to help you in REO wholesaling:- · Access to a Phone · High Speed Reliable Internet Access.
· The Will, the drive and the determination to succeed.
It's important that you have all of the above as it will no doubt help you close your first sale.
Do not over complicate things and stress.
Times will become hard, but unfortunately that's life.
Remain positive; continue being motivated and you will succeed.
Wholesaling REO houses is not rocket science! The first thing you must ensure doing is locate your cash buyers and find out exactly what they want.
In the next article we will discuss exactly how to locate your cash buyers and what information you will need once you have contacted them.
I can not emphasise enough the importance of contacting Realtors in your local area and letting them know that you and your group of investment partners are looking to add more properties to your portfolio.
It's also vitally important that you contact contractors who offer free estimates.
You can find these easily on Craigslist.
org.
REO Wholesaling should never be a burden.
Like anything in life, if you have the drive, the motivation and the will to succeed, then you will.
Remain positive and you will go far.