Buying bank owned properties

There's lots of interest these days in purchasing bank owned properties.  While these lenders do NOT want to hold property, nor do they want to give it away either.  So, how does one get a good deal and bank owned properties?

It easy!!  Make sure that you an EXPERIENCED REO broker.  Someone, like Mark Brown !!  Not only can mark List REO properties but Mark can help his clients find the deals and the steals!  It comes down to accurately determining market value, knowing which areas hold values well, what savings can be made by the investor and what the exit strategy is for you the investor.  In other words, EXPERIENCE.   There's no substitute for experience.

What's an REO?

REO is "Real Estate Owned".  This is the banking term for foreclosed properties.  They own them due to a default but are selling them and trying to mitigate the loss.  That is, trying to get market value for the property.  Now let's understand market value.  In this case market value refers to what the property is worth in the current condition.  Unless the property would return a higher rate of  return on the investment, banks will typically not make improvements or repairs.   Mark Brown recommends that inspections be down before any bids or offers are submitted.  The cost of these inspections could save you tens of thousands of dollars later.

Is it a bargain?

Well, that depends on many factors.   What is the true market value?  How is the area expected to appreciate, if at all?  How will your Realtor negotiate?  What terms are ok to compromise and which ones are not?  Can you influence the BPO's and appraisals?  Mark Brown doesn't stop there.  When you work with Mark as a client you are constantly being asked..... Most of all, does it meet your business and financial plans?  Does it help you reach your goals or does it take away from it?    That is where true bargains are found.

Ready to make an offer?

So, are you ready to pull the trigger?  Investing in real estate is not always easy.   Bargains are plentiful but not always easily recognized.  Make sure have an experienced professional on your side. Make sure you employ Mark Brown to represent you in your purchasing and investing deals.  The cost is not out of pocket but the cost of not will eventually hit you in the pocket.

Fill out the form below and get started today.  Your future is up to you !!