How to Buy Bank-Owned Properties for Pennies on the Dollar: A Guide To REO Investing In Today's Market

by Jeff Adams

Buy bank-owned properties at fire-sale prices! Banks and lending institutions today own more than one million foreclosed properties, more are in the foreclosure pipeline. Banks desperately want to get these properties off their balance sheets, but there aren't enough buyers. The result is a soft real estate market with prices investors and homeowners may not see again in their lifetime. In recent years many bargain-hunting investors and homebuyers made the mistake of trying to get foreclosure prices via short sales and pre-foreclosure-- before the bank reclaimed the property. They've been burned by endless delays and uncertainty of the messy foreclosure process. With bank-owned properties, that's over. You deal directly with a motivated seller―the bank―and get the foreclosure price without the hassles and complexity of a short sale or pre-foreclosure. This book shows you how to negotiate the best possible terms with the real estate owned (or REO) department of a bank or lender, including step-by-step instructions and no-nonsense advice on finding great deals, estimating fair market value, and closing the deal. You don't need a ton of cash, because REO investing at fire-sale prices is affordable for almost any investor or homebuyer.

Genres: Business, Nonfiction

256 pages, Hardcover

First published October 7, 2011

Reviews

[Daniel · Rating 3 out of 5]

I enjoyed learning about real estate investing. I had not ever head about REO before I saw this book. I had seen flipping houses at retail prices no TV shows but, I had never thought about renting out a property I bought or wholesaling it. I didn't know anything about real estate investing before reading this book. And after it I think I know something about real estate investing. one thing I liked was that he gave websites where I can go to look up houses or other information.

[Michael Lee · Rating 4 out of 5]

I thought this was a pretty good book for beginner investors wanting to start out with real estate investing. If you want to start somewhere this book is a great place to start. Even savvy investors may pick up a tip or two from this book. A very quick and easy read.

[Guy · Rating 4 out of 5]

good overview of how to buy houses from banks and resell, wholesale, or rent them.

[Maida · Rating 3 out of 5]

*3.5/5 stars*