Can the worst of times become the best of times for some of us.
(1888PressRelease) September 25, 2009 - As the number of foreclosure, short sale and REO (Real Estate Owned/Bank Owned) properties hitting the market has increased, so has the number of investors.
The entire United States has seen an increase in distressed properties and more and more investors and buyers trying to get deals on their new home by buying a foreclosure or REO.
Pros of buying a foreclosure or REO property
•You can find from a 5 to a 50 percent discount on the property
•Your choices and opportunities increase daily as the number of distressed properties increases every day
•If you are a handyman or contractor or have a connection to one, you can do all the needed work at much less than the market value of your improvements and potentially sell the property for a profit or have equity built in.
Cons of buying a foreclosure or REO property
•You must know how to search for them
•You have to be very patient - banks can take up to 2 months to give you a response back to your offer
•You need to fully understand what it means to buy a property "as is".
•You have to be a bit of a gambler. No matter how good you are with numbers, budgeting or forecasting, you never know what may happen with the market and whether you'll be able to clear a profit or end up losing money in the end, even with getting a 5 to 15 percent discount.
The September 3rd, 2009 National Hard Money Seminar is available on dvd. This 8 hour DVD will share with you where to find REO properties. You can find it at www.pitbullmortgageschool.com, it also includes the following topics:
- How to become a hard money lender
- How to take advantage of the mortgage market implosion.
- Taking advantage of the foreclosure crisis
- Where to find commercial REOs
- Where to find Residential REOs
- How to service your own loans and create multiple revenue streams
- How and where to buy performing and non performing debt
- The six most important legal documents
- Understanding commercial loan workout programs
- The new marketing strategies
- SEO the 20 steps
- Mortgage Pools - Accounting & Auditing
- How to start and create a REG D 506 Federal Filing
- How to start and create a private placement memorandum (PPM)
- How to start and create a mortgage pool
- How to start and create a hard money mortgage company
- Where to place your loan scenario
- How to determine the real value of the property (the Pitbull Hard Money way)
- How to package and sell your loan to the investor
- How to broker raw land deals, hard money commercial projects, foreclosures,
NOD's and hard money real estate development projects
- How to broker commercial hard money loans
- How to broker hard money rehabs.
Can the worst of times become the best of times for some of us. 
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