In today’s society, everyone is chasing the dollar. I was once apart of this race thinking that the only way to riches was being famous or a Rock Star.
Well after working numerous dead end jobs and living off of dreams, I decided it was time to take a chance and turn my dreams into my reality. I got into real estate.
In this market?
Now all I heard was “In this market”. Almost every time I would tell someone I was getting into real estate, they would come with that, so I found my self either not telling certain people who I knew were closed minded or after telling them, I went into this speech about how the market is different blah blah blah.
Waste of time because a lot of the time, unless people see you taking a course of action, their going to believe one of the most deceiving forms of information in our current society. The News.
Turn off that *&$@# TV!
Now I watch the news to keep up with the weather because I’m out and about through out the day and I would hate to turn on a street with nothing but vacant homes and then a hurricane comes out of no where.
Let’s just says it’s hard writing down addresses with water all over your windows.
Anywho, one thing the news said is true. In 2011, there will be an astronomical amount of foreclosures to hit the market and yes that’s sad for many, but for us investors, that’s “ching ching$“.
Money in the Bizank!
Banks are going to be flooded with properties and their going to need to get rid of them as soon as possible.
Here comes you, Super Sell a Home, the greatest real estate wholesaler in the land.
Ok a little far fetched but being that their going to need to get these homes off their books and there are lazy people with a lot, and I mean a lot of money, this is the perfect time for you and me to get these homes from the bank and sell them to the lazy investors.
Reason I say lazy is because there is actual work involved in getting REO’s under contract but if you have a system in place, this could be as easy as counting from 1-3; and I’m not criticizing them for being lazy. I love that they are.
Easy as 1-2-3
Say you get an investor who wants a certain type of property to cash flow. Well all you have to do is find that particular property in the thousands that are available and it’s sold before you even get it. Your just giving them what they want and don’t want to find themselves.
Now searching through thousands of homes may sound hard but truthfully, it’s extremely easy if you get MLS access or are friends with a realtor. Check out my post that gives methods on getting MLS access without being an agent.
Treat no Trick
My buddy Preston has joined forces with the REO rockstar himself, Lee Kearney, to create the best course ever on how to attach REO’s and basically have the bank falling at your feet ready to do deals with you.
Has this course worked for me?
No and here’s why. I live in the same city as Lee Kearney; the mind behind the REO Rockstar and right now with him selling 30+ homes a month and his company bringing in more than a 100k a month using these strategies, there’s not much room to make a name for my self. Not to mention, I live in the most competitive real estate market in the country with all the gurus being here.
I can assure it works because he’s using this system to the MAX and look how much he’s bringing in.
I haven’t given up. I just realize that I have to come at the market from a different angle.
My Advise To You
You have to try anything or else you automatically fail. I tried flipping REO’s and didn’t have much success because there are 1000′s of investors going after the homes that Kearney doesn’t want. Yea he gets first pickings then we get to fight over the scraps.
Could you imagine being the Lee Kearney of your town?
It could happen but you have to TRY first.
You may already know how to flip REO’s or you can search Google for months gathering info but if you really want to be an REO Rockstar, flipping bank owned homes without using any of your money, don’t procrastinate. Start flipping REOs today.
What Most Gurus Don’t Tell You About Flipping REO’s
Now I get emails from people all the time saying their new with no money at all and they would like to flip REO’s. It’s pretty much impossible to flip REO’s without any money at all.
In order to put REO’s under contract, you usually have to put a deposit down. In Florida, this is usually between $500 & $1000. The bank will be asking for this within 5 days of accepting your contract. Now you can either pay it yourself, or like Lee Kearney does (and will teach you in his course), use other people’s money to fund your deals. It’s really an art form that he’s mastered.
There’s a lot to flipping REO’s. You really have to know what your doing before you step into that shark tank. Like I say; learn from the master.
Wish you the best my friend and Stay flipping
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