Saturday, February 23, 2008

Wholesale Foreclosure Flip

With the foreclosure rate hitting all time highs in Southern California, lot of Real Estate Investors are starting to purchase Foreclosed homes and flipping them for a small profit.

Foreclosed homes are considered REO Homes and they are owned by the Bank. REO Homes are a better deal than buying in the open market for Investors because of the following reasons:

  • Usually the bank that holds the 1st Trust Deed forecloses on the home. This means that the bank is usually in it for approximately 80% of the home value when it was originally purchased.
  • Banks are in dire need, especially now, to reduce their REO inventory to satisfy their shareholders. This means that they are willing to take less than market value.
  • REO Homes are usually in poor condition due to neglect. This can be due to time it takes to foreclose or due to prior owners trashing the place before they are evicted. This is a great opportunity for Investors to go in and rehab for a profit.

Wholesaling a Foreclosure Flip is just like Wholesaling any property to Real Estate Investors. You first need to find a property that is undervalued with potential for profit. Then, you will need to find other Wholesale Investors to sell to.

Due to our nationwide reach, we have Wholesale Property Investors throughout the country seeking Wholesale Properties to purchase. This Wholesale Property would be ideal for handy Investors looking to flip properties.

All Memberships are FREE of charge and there are no fees for posting properties or contacting members for more information.

Good Luck!


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Patrick said...

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Patrick said...

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pjeary said...

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