Or is it a Tsunami coming? Rick Sharga from RealtyTrack.com says that “Banks own about 900,000 houses but only 300,000 are on the market!” That means the real supply of REOs is triple what we are seeing today. His prediction; 4-6 million homes will hit the market in the next two years. That is a lot of REOs. (REO stands for Real Estate Owned by the bank)
Just Read Some of the Recent Foreclosure Headlines
- More Foreclosures Coming
- Foreclosures just keep coming
- Foreclosures, foreclosures, foreclosures . . .They just keep coming
- Buzz: Wave of foreclosures coming
- Coming soon to your neighborhood — more foreclosed homes!
What about Baltimore REOs?
I did a quick check of the MLS. In July, 79 out of 312 properties sold were listed as foreclosures. An additional 24 were listed as potential short sales. Added together that means one third of the sales are properties with lender distress. There are 304 active listings marked as foreclosures in Baltimore City.
Why you need to learn about REOs
- The Best strategy for investing right now is buying bank properties.
- Bank owned properties can be wholesaled with little of your own money.
- There is an incredible backlog or properties in financial distress
- REOs will continue to be a key strategy for the foreseeable future
- There are rumors of a HUD Flood later this month
Who is the expert in buying Bank owned property?
As far as I am concerned it is Steph Davis. Stephani is a true rags to riches story and her favorite strategy is wholesaling bank owned homes. Must Know Investing website called Steph Davis one of “Best and Brightest Women in Real Estate Investing”. If you want to learn from the best buy her E-book here.
Here is an example of what you will learn from Steph
I recommend Steph’s book but more importantly people who I admire and respect like Steve Cook recommend it also. If you want the best program on buying bank owned property click here to buy it now.
If you are still not convinced
Average wholesale deal $2-7,000, the price is only$47. Even with a small deal, that is a 4000% return on your investment.
Steph said I could offer you a 30 day money back guarantee. You have nothing to lose and tens of thousands of dollars to gain. Buy it Now
The 2012 version includes free bonuses. One of these bonuses is an item I regularly get asked about. Missing this bonus is something that holds back many new investors.
Happy investing – +Ned Carey