If you know anything about foreclosures and bank owned properties, you know they are plentiful out there. The market is awash in bad debt and bank owned properties. I’ve been buying bank owned properties (or REO’s) for over a year, and in that time it seems the tide of available properties has risen, fallen, risen again – and now it seems the banks are holding back a bit.
But even those sitting on the sidelines know the the banks are holding back a veritable crap pile (that’s a technical term) of houses. The word on the street for the past few months is that the banks are about to unleash the motherload. Ask anyone in the business of moving bank junk, and they’ll tell you – “The Tsunami is coming.” Check out what the info-heads at CNBC have to say (see below).
If you want my two cents – I quite frankly don’t see it. But maybe I’m wrong.
What do you think? Will there be a flood or a trickle?
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Look, it can’t always be all real estate all the time. Sometimes even I take a break from talking deals. On this day, I met up with my boy Ant’nee (TJ) Topper to enjoy a crap-pile of Sushi at one of Maryland’s finest Sushi establishments; Sushi Sono. This place is the REAL DEAL -- and when the big boys come calling, the chefs bring out the specials! This ain’t your Dad’s California Roll, folks -- this is HARD CORE.
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I’m sitting here in Phoenix Sky Harbor Airport. It’s Saturday at 4:49AM and I’m wondering once again – “What in the hell am I doing here? Why in the fletch am I here when my family is 2000 miles away?”
It’s been a completely awesome week with my boy Bob Norton. We’ve got three houses under contract, we’ve got a contractor to do the work and when complete, we should net…are ya ready…about $90,000.00 upon selling the three. But it ain’t easy folks. I’m mean sure – its easy to find and do the deals, but its soooooooooo hard to be away from my wife and kids for a week.
We do what we have to do, right? When the market gives you such incredible opportunity, you milk it for all its worth!!! I hate to feel as if I’m chasing the dollars, but I gotta tell ya, the easy money to be had in this market makes me giddy with excitement.
Wanna learn how to rob the banks blind flipping REO’s? – let me know.
Bob and I are crushing it in Arizona with bank owned houses and I’ve bought several REO’s here in Baltimore over the past few months. I’m looking to partner with a few (maybe 4) investors (newbie to experienced) who want to learn how to find deals. I will teach you precisely how to find the deals. You bring ‘em to me, we’ll evaluate them together – then I’ll bring the money and the ACE contractors. We’ll split the profits 50/50. How simple is that?
Folks – there will never be a better time to do great deals. You just have to learn the simple techniques of finding and mastering the market, learning the values – and making offers. Then trust me, the deals will rain down on you like sweet candy from the sky!
Interested? Comment below!
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