- Check out the beautiful house for sale in St. Charles, IL (bid pending $199,000) REO-Investor.Info
I placed a $199,000 wholesale bid for this beautiful home for sale in St. Charles, IL. If you are a cash buyer or a buyer with excellent credit (690+ FICO) and at least $25,000 cash and you are interested in buying this house with me, please REGISTER NOW and get in touch with me right away, this will be off the market in less than 8 days – we need to move now!
- Buying Bank Owned REO Properties Using Private Investors' Money
Lex Levinrad asked:Many real estate buyers are aware that there are fantastic bargains available in the real estate market. The huge amount of bank foreclosures has led to a tidal wave of bank owned REO properties which has flooded the market with low priced properties. Astute investors are taking advantage of this situation to scoop up houses at bargain basement prices.
If you are considering investing in bank owned properties then you will need to be a cash buyer. This means that you are required to show "proof of funds" which is usually a bank statement which shows that you have the cash available to purchase the house.
If you don't have the cash available then you will need to borrow the money from someone that does. If you have a relative or friend with access to cash they might be willing to lend you money to purchase a property in exchange for you giving them a first mortgage on the property. They will effectively become the bank and you will be required to make a monthly payment to them.
There are professionals in the real estate business that make these kinds of loans to people that are not relatives. They are called hard money lenders. The only difference between a hard money lender and a private investor is the interest rate. Borrowing from Aunt Sallie might cost you 8% per year in interest. A typical hard money mortgage in today's market would be 15% plus 3 points up front.
Why would anyone borrow money at such a high interest rate? Let's look at an example. Assume that you could purchase a bank owned REO property for $40,000 when the house has a true market value to a non cash buyer of $80,000. Paying 15% interest on a $40,000 loan amounts to a monthly payment of only $500.
Assume that you waited 90 days for seasoning of title and then sold the property to an FHA first time homebuyer for $79,900. Assume that you paid a commission of 6% to the realtor and another 6% to pay for the buyers closing costs. You would still net $70,000 from this transaction. After paying off the hard money lender the $40,000 that you borrowed, you would still be left with a profit of $30,000. Even if you held the house for six month before finding a buyer you would only have spent $500 per month in interest for 6 months. Your total interest cost would only have been $3,000. This would leave you with a net profit of $27,000.Or expressed another way, using no money down (borrowing all of the money) you could potentially make a profit of $27,000. How easy would it be to sell a house like this to a first time home buyer? The answer is it would be extremely easy. The buyers are putting down only $3,000 (3 ½%) to buy a house with a monthly mortgage payment which is about the same as their monthly rent. You are paying all of their closing costs. And the government will give them an $8,000 tax credit if they purchase before the end of 2009. It is a win/win for everyone. The bank gets to sell their property quickly to a cash buyer. The cash buyer gets to flip the property and make a quick profit and the end FHA buyer gets to own a home for the same monthly payment as rent.
The trick to the above transaction is to find an $80,000 property that you can buy for $40,000. This is the part that requires training, knowledge and experience. Finding deals like this is an art form and the people that find these deals are known as "bird dogs" or "property scouts".
Many bird dogs sell their deals to cash investors for a small profit. This is known as wholesaling. For example a wholesaler might contract to purchase the above house for $40,000 and then sell it for $45,000 to another cash investor. This way, the wholesaler does not need to borrow money from a hard money lender. The wholesaler simply finds a deal, signs a contract to buy it and then flips the contract to a cash investor for a profit. This is known as "assigning a contract" and the profit that is paid to the wholesaler is known as an "assignment fee".
Banks do not want wholesalers flipping contracts on bank owned properties. For this reason, banks do not allow assignable contracts. This means that a wholesaler cannot assign a bank owned property to another cash investor. The reality is that there are still ways that a property can be assigned. One way is to purchase the property in a Land Trust and then assign the beneficial interest in the land trust. Another way is to purchase the property in an LLC and then assign the membership interest in the LLC. However the problem with these methods is that the end buyer might not want to have a land trust or an LLC.
For this reason, the best way to sell a bank owned property to another cash investor is to have what is known as a double closing. This means that the wholesaler essentially buys the house from the bank and then simultaneously on the same day sells it to another cash investor. The disadvantage is that the wholesaler will be paying double closing costs.
If a wholesaler has a signed contract and is wholesaling the deal to an end buyer, then if the wholesaler is short on cash they might need what is known as "transactional funding". Transactional funding is perfect for bank owned properties and short sales that a wholesaler is flipping to an end buyer. Since banks do not allow assignable contracts the wholesaler is going to need to schedule a double closing with the end buyer. Double closings also known as simultaneous closings allow a wholesaler to schedule two back to back closings for the same property on the same day. The wholesaler will need to have a source of funds to pay for the first transaction. This is where transactional funding (also known as same day funds) is needed.
Our company offers transactional funding to all of our Private Mentoring Students. However our students need to schedule both closing with our title company in order for us to offer the transactional funding. We will only offer transactional funding if both closings are with our title company (Independence Title & Escrow).
If you are looking to flip a bank owned property then you will have two contracts and two closings. The first contract is between the bank (seller) and you (buyer). The second contract is between you (seller) and your end buyer (buyer). The end buyer is the person that will ultimately be the long term owner of the property.
Example:
A – BankB – You
C – End Buyer
Assume that you have a contract with the bank to purchase a bank owned property at $40,000 (first contract). This is known as the A-B transaction.You market this property to your cash buyers and you find a buyer at $45,000. You sign a contract with this buyer with you being the seller and them being the buyer (second contract). This is known as the B-C transaction.
The difference between the two contracts (after deducting closing costs) is your profit which you will walk away with at the closing. Since there are two contracts there are two closings. This means you will pay double closing costs.
The transactional funding fee that we charge is 2% +$495 with a minimum fee of $1,250. For example if you were to request $40,000 your fee would be $800+$495=$1,295. We will only provide transactional funding if you use our title company (Independence Title) for both closings.
To learn more about transactional funding please visit http://lexlevinrad.com/transaction_funding.html
Copyright © 2009, Lex Levinrad - Vivian Hooton speaks about Virtual REO
commodoreblack asked:
Vivian Hooton is one of the top students of Mark Jackson and Sam Bell in their Virtual REO system. He talks with Roberto Mazzoni about what he learned in a working cruise where they invested directly from the ship.
- Rick Dove speaks about Virtual REO
commodoreblack asked:
Rick Dove is one of the top students of Mark Jackson and Sam Bell in their Virtual REO system. He talks with Roberto Mazzoni about what he learned in a working cruise where they invested directly from the ship.
- Why Banks Prefer to Sell Bulk REO Property
Duncan Wierman asked:Bulk REO investments are one of the hottest ways that people are looking into in order to provide themselves with some sort of financial stability in these fiscally trying times. If you are looking at bulk REO investment as a way of getting a good investment deal, one of the things that you should understand about these types of transactions is the reason why banks prefer to sell bulk REOs. This is very important in order for you to have a better idea of why bulk REO investments can be profitable, and why they can also hide some tricks up its sleeve which a good bulk REO investor can easily avoid.
The REO process
Banks and bulk REO investments are intricately interlinked with one another because the REOs are actually the result of foreclosures done by banks on real estate that has not been paid by the homeowner. Today, one of the best assets that a person can have is a home, because it is one of the most highly valued private properties that a person can put on collateral. Because of this, many people put the home in mortgage agreements to act as a form of collateral in order for them to secure more credits and loans from lending institutions such as banks. In the event that person can no longer pay the mortgage, the bank can choose to foreclose the agreement and claim the real estate.
The catch
However, the banks actually prefer to have their accounts cleared by payments instead of through foreclosures. For most people, the widely held belief is that foreclosures are intentional acts of the banking institutions to cash in money. Contrary to popular belief, however, unpaid mortgages that has resulted in foreclosures as well as in bulk REOs actually works against the name of the bank, since as an institution the primary goal is to lend and retrieve the lent amounts in cash. Because of this, most real estate foreclosed by the banks is immediately sent to foreclosure auctions in order for the banks to get rid of the foreclosed property from its accounts as soon as possible. In the accounts, for more, these REOs show up not as assets but as liabilities.
The REO is born
Hence, when the bank is unable to find suitable buyers for the repossessed REO lots, the bank has several options, one of which is to personally package the bulk REOs for sale to people who need the bulk REO for investment options. The bank can also choose another alternative path that leads to the same goal – the use of real estate agents that will hook up the bank with a buyer of bulk REOs. Whatever means the banks make use of to rid themselves of real estate, the end result is that cheap property becomes available for lay people who are looking for easy investments.
In sum, one of the essential reasons why banks prefer to sell their bulk REOs is because the currency used by the bank as well as other lending institutions is hard cash and credit. This means that a bank does not actually add anything to its reserve of money available for lending when it keeps an REO property.
- Clint Mansell – Moon OST #4 – I'm Sam Bell, Too
PoeticProse22 asked:
Moon Clint Mansell 2009 An exceptional soundtrack from a terrific film
Buy GOLD Online - Sam Bell – Guitar Improv
bicmed88 asked:
This is an old video of me improvising in my old room in Brighton, the walls were so damp there was mould growing, and lots of maggots crawling around. A small slice of guitar. Please check out www.myspace.com/mojudas
- Crepes in Corfu, Greece
MJinmyPJs asked:
.com Lynn Jackson a new author traveling in the Mediterranean stops for some local fair a Crepe. She describes the sheer joy and pleasure of this local treat. Her son Matthew gets in on the pleasure so much it makes him do the happy dance. … "real estate" "reo deals" "house values" "real estate comps" "real estate investing" investorcompsonline "virtual reo investing" "mark jackson" mjinmypjs "sam bell 3rd" "web 2.0" "real estate wealth 2.0" "internet investors club" comps "comparable sales" …
- Roberto olmos and sam bell
rcolmos asked:
sam bell from web 2.0 semminar at mark kozlowski, with roberto olmos and julio maldonado
CASH2GOLD – Members-Only Content for WordPress - Beginner Real Estate Investment Tips For Today's Economy
Judy Cook asked:I too was once a beginner real estate investor. When I got started in real estate it was in Houston, Texas in the mid 1980's. That town was experiencing what our country is experiencing today. Over one third of the houses were foreclosed on … at one time or another … property values had dropped. FHA and VA had large volumes of houses that were for sale. After those foreclosures the FHA and VA needed to get rid of them. They would list them in the paper for all to see and to go bid on them. They sold them using closed bids. They would open out of the bid offerings on a certain day and award sale to the highest bidder.
It was a time when REO's [REO stands for Real Estate Owned] were everywhere. It was the first time I understood short sale. When times are like they are now, it's a good time to get out and make money. The real estate is there and the prices are good.
Plus, in this business, you don't always have to use your money. There is someone else out there who will partner with you. Sometimes they are Dentists, or Professionals who have take their money and have decided they want real good returns. They will partner with you for part of the profit. This is not a bad way to go because the money flows in. And the good news is no one is looking at your credit report. No one is looking at you. And no one is putting out a large loan on your credit to bring your scores down. That's worth something in itself, not having to spend time filing papers for the bank or the mortgage company. There is no waiting for the money, it's already available.
There are plenty of people right now who understand a good deal when they see one. Everybody concentrates in the news about people being foreclosed on. They never talk about the fact that those same people need a place to live and are typically eager to rent a house that is in nice shape.
And unless you are in Texas where Lease Options are against the law, you could probably do a Lease Option and structure it in such a way that when the market comes back up they could purchase the house that they are renting from you at a later date.
I've found in the past that always makes for a better tenant that takes better care of my property. As a result my properties are more liquid when I need them to be. All in all, for us real estate investors, since we didn't create this mess, and we are not responsible for the situation. So we feel real estate investors shouldn't feel guilty when taking advantage of the mess that is in front of us.
There are ways for us to help out. I know, in the news they are talking daily about how the Government intends to fix things and how the mortgage companies intend to fix things and help people out, but there are still going to be way to many people who need help. It is our job to get out and see what we can do to help them.
- Structuring Short Sales and REO Deals For Profit
Julian Lee asked:Short sales and REO home (Real Estate Owned) deals can be constructed by investors who have an understanding of how to create a positive outcome for home owners facing financial difficulty. A short sale is an option that a homeowner can choose to take up to avoid a bank foreclosure. This differs from an REO home situation, where the property has already been foreclosed by the bank. The major advantage for a home owner who opts for a short sale is that this agreement will result less impact on the credit rating of the distressed home owner. When an investor understands flipping short sales and how to put together property deals on REO properties, they are in a good position to structure a profitable deal.
At present the IRS will provide tax breaks when home owners enter into a short sale agreement on their primary residence. This tax relief will continue until 2012 and the owner will receive debt forgiveness through tax exclusions up to $2 million ($1 million if each married partner files separately.) This benefit is only possible for those who have agreed to a short sale. Once the bank forecloses and the property becomes an REO home, then this option is no longer available. Investors who know about flipping short sales can create real estate deals that will benefit the home owner, providing them with an opportunity in light of a very difficult decision.
In the present economic climate, the opportunities for finding properties that are suitable for flipping short sales are increasing. Choosing the short sale option remains a better path for home owners who are in a dire financial situation as a result of work layoffs and other problems. Alongside of this the number of home owners facing foreclosure and the amount of foreclosed homes available is on the rise. Once the bank has foreclosed and has a REO home that it needs to handle, they will aim to sell the property quickly, usually at a discounted price, in order to regain any losses from the foreclosure process. If you want to master making money in spite of the poor economic climate, then knowing how to structure real estate deals that focus on flipping short sales and on-selling REO homes provides a solid solution for wealth creation.
Generally, a home owner who is in financial difficulty will aim to secure a short sale of their home, as this is still better than foreclosure. By investing wisely and structuring a solid deal, you can take this situation and create a better solution for the current home owner by pairing them with a buyer eager to purchase their home. This is good news for the investor, plus it is a better answer for the home owner than going through a foreclosure and ending up worse off when the bank takes their home and sells it as a REO home. By gaining the knowledge needed to put together deals and create profit flipping short sales and selling REO homes, you not only aid others, you'll also improve your and your family's financial standing.
- REO Properties – Can Investing In Bank Owned Real Estate Make You Rich?
Simon Volkov asked:REO properties are becoming a hot commodity for both novice and serious real estate investors. Also known as "real estate owned" these properties are returned to the bank after attempts have been made to sell the property through foreclosure auctions.
Real estate owned properties can include single or multi-family dwellings, commercial buildings, farms and vacant land. A common misconception is that bank owned real estate is sold for pennies on the dollar. This is typically not the case. The exception to this rule is to purchase REO's from a private real estate investor who specializes in purchasing bank portfolios at wholesale cost.
Private investors and investing companies have the ability to purchase distressed properties in bulk. Doing so allows them to buy real estate for pennies on the dollar and enables them to pass their savings along to real estate investors who want to expand their portfolios or individuals who are looking for a good deal for their personal residence.
Many banks publish their REO properties directly on their company website. Generally, a contact person will be assigned to the property. This individual is known as a Loss Mitigator and they will be the person who can make or break your deal. If you decide to make an offer on REO properties directly with the bank, be prepared for a lengthy process.
It is rare for the Loss Mitigation department to accept your first offer. It's important to understand that REO properties were once foreclosure homes with no equity and an inflated mortgage. More was owed on the houses than they were worth, which is usually why they didn't sell at auction. The bank is in business to make money and is going to wheel-and-deal to obtain the best possible offer.
If you work with an REO specialist you can avoid counter-offer after counter-offer. Typically, it is a quick-and-easy transaction. The private investor has already purchased the property. It is no longer owned by the bank, so you do not have to work with the Loss Mitigation department. Better yet, you'll be able to buy the property at a much lower rate than you will ever be able to negotiate with the bank. In some cases, you can buy REO property for seventy cents on the dollar. Do you know of any banks offering deals with that much built-in equity?
In the past, buying bank owned properties has been the turf of serious real estate investors. Due to today's market slump and home prices prohibitively expensive in many areas across the U.S., many first-time home buyers are investigating real estate owned properties.
It's best to work with an REO specialist when engaging in this type of real estate transaction. These individuals can guide you through the process, help you locate properties and ensure you submit the proper paperwork. Just one missing form can cause you to lose out on a lucrative real estate opportunity. Are you willing to take that risk?
If you are currently investing, or considering investing in real estate you would be wise to create your investment strategy now. Experts predict investing in REO properties will generate millions, if not billions, of dollars for savvy real estate investors. Will you be on the receiving end of this upcoming real estate boon?
- Mark Jackson and his wife Lynn explain Virtual REO investing
commodoreblack asked:
Just after returning from working a cruise in Nassau with their top students, Mark Jackson and hiw wife Lynn explain to Roberto Mazzoni what is REO Investing and how they have refined it to a system that can be done from everywhere.
- Roberto Mazzoni uses InvestorCompsOnline to value his REO deals.
MJinmyPJs asked:
an offer to the bank. Here he is describing a house which was acquired successfully and has decided to hold auction as an exit strategy. … "Roberto Mazzoni" MJLifeCoach "Mark Jackson" "real estate" "reo deals" "house values" "real estate comps" "real estate investing" investorcompsonline "virtual reo investing" "mark jackson" mjinmypjs "sam bell 3rd" "web 2.0" "real estate wealth 2.0" "internet investors club" comps "comparable sales" reogoldminer http://reogoldminer.com http://knowyourarv.com …
- Virtual REO Investing
virtualreo asked:
www.virtualrealestatetrainer.com Isnt it about time someone used the power of the internet to make investing easy? If You Can Use the Internet, You CAN Buy Property, Regardless of Your Credit Rating or Lack of Funds!
- Eat your prunes.
MJinmyPJs asked:
virtualreoinvesting.com MJ having breakfast after a good workout aboard the cruise ship Costa Fortuna. MJ is traveling across the Atlantic with his family & business partner Sam Bell lll. MJ is proving you can do business from anywhere even in the middle of the ocean! … "real estate" investorcompsonline "home values" "house values" "reo deals" "virtual reo investing"
- Sam Bell explains his Virtual REO Model to Italian investors
commodoreblack asked:
In Miami, just after a business cruise with his top students, Sam shares with Roberto Mazzoni the key points of his system that jhe has been teaching together with Mark Jasckson.
- Mark Jackson and Virtual REO Investing
commodoreblack asked:
Mark Jackson recaps with Roberto Mazzoni the key points of the innovative investment strategy he has developed for finding and buyiing bank owned properties through the web.
- Alex Zlochevsky speaks about Virtual REO
commodoreblack asked:
Alex Zlochevsky is one of the top students of Mark Jackson and Sam Bell in their Virtual REO system. He talks with Roberto Mazzoni about what he learned in a working cruise where they invested directly from the ship.
- Sam Bell & Mark Jackson Looking For Euros
amilby27 asked:
virtualreoinvesting.com Sam Bell & Mark Jackson looking for euros to pay for internet service in Guadalupe. Always be prepared when traveling abroad!
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- Check out the beautiful house for sale in St. Charles, IL (bid pending $199,000) REO-Investor.Info
I placed a $199,000 wholesale bid for this beautiful home for sale in St. Charles, IL. If you are a cash buyer or a buyer with excellent credit (690+ FICO) and at least $25,000 cash and you are interested in buying this house with me, please REGISTER NOW and get in touch with me right away, this will be off the market in less than 8 days – we need to move now!
- Buying Bank Owned REO Properties Using Private Investors' MoneyLex Levinrad asked:
Many real estate buyers are aware that there are fantastic bargains available in the real estate market. The huge amount of bank foreclosures has led to a tidal wave of bank owned REO properties which has flooded the market with low priced properties. Astute investors are taking advantage of this situation to scoop up houses at bargain basement prices.
If you are considering investing in bank owned properties then you will need to be a cash buyer. This means that you are required to show "proof of funds" which is usually a bank statement which shows that you have the cash available to purchase the house.
If you don't have the cash available then you will need to borrow the money from someone that does. If you have a relative or friend with access to cash they might be willing to lend you money to purchase a property in exchange for you giving them a first mortgage on the property. They will effectively become the bank and you will be required to make a monthly payment to them.
There are professionals in the real estate business that make these kinds of loans to people that are not relatives. They are called hard money lenders. The only difference between a hard money lender and a private investor is the interest rate. Borrowing from Aunt Sallie might cost you 8% per year in interest. A typical hard money mortgage in today's market would be 15% plus 3 points up front.
Why would anyone borrow money at such a high interest rate? Let's look at an example. Assume that you could purchase a bank owned REO property for $40,000 when the house has a true market value to a non cash buyer of $80,000. Paying 15% interest on a $40,000 loan amounts to a monthly payment of only $500.
Assume that you waited 90 days for seasoning of title and then sold the property to an FHA first time homebuyer for $79,900. Assume that you paid a commission of 6% to the realtor and another 6% to pay for the buyers closing costs. You would still net $70,000 from this transaction. After paying off the hard money lender the $40,000 that you borrowed, you would still be left with a profit of $30,000. Even if you held the house for six month before finding a buyer you would only have spent $500 per month in interest for 6 months. Your total interest cost would only have been $3,000. This would leave you with a net profit of $27,000.Or expressed another way, using no money down (borrowing all of the money) you could potentially make a profit of $27,000. How easy would it be to sell a house like this to a first time home buyer? The answer is it would be extremely easy. The buyers are putting down only $3,000 (3 ½%) to buy a house with a monthly mortgage payment which is about the same as their monthly rent. You are paying all of their closing costs. And the government will give them an $8,000 tax credit if they purchase before the end of 2009. It is a win/win for everyone. The bank gets to sell their property quickly to a cash buyer. The cash buyer gets to flip the property and make a quick profit and the end FHA buyer gets to own a home for the same monthly payment as rent.
The trick to the above transaction is to find an $80,000 property that you can buy for $40,000. This is the part that requires training, knowledge and experience. Finding deals like this is an art form and the people that find these deals are known as "bird dogs" or "property scouts".
Many bird dogs sell their deals to cash investors for a small profit. This is known as wholesaling. For example a wholesaler might contract to purchase the above house for $40,000 and then sell it for $45,000 to another cash investor. This way, the wholesaler does not need to borrow money from a hard money lender. The wholesaler simply finds a deal, signs a contract to buy it and then flips the contract to a cash investor for a profit. This is known as "assigning a contract" and the profit that is paid to the wholesaler is known as an "assignment fee".
Banks do not want wholesalers flipping contracts on bank owned properties. For this reason, banks do not allow assignable contracts. This means that a wholesaler cannot assign a bank owned property to another cash investor. The reality is that there are still ways that a property can be assigned. One way is to purchase the property in a Land Trust and then assign the beneficial interest in the land trust. Another way is to purchase the property in an LLC and then assign the membership interest in the LLC. However the problem with these methods is that the end buyer might not want to have a land trust or an LLC.
For this reason, the best way to sell a bank owned property to another cash investor is to have what is known as a double closing. This means that the wholesaler essentially buys the house from the bank and then simultaneously on the same day sells it to another cash investor. The disadvantage is that the wholesaler will be paying double closing costs.
If a wholesaler has a signed contract and is wholesaling the deal to an end buyer, then if the wholesaler is short on cash they might need what is known as "transactional funding". Transactional funding is perfect for bank owned properties and short sales that a wholesaler is flipping to an end buyer. Since banks do not allow assignable contracts the wholesaler is going to need to schedule a double closing with the end buyer. Double closings also known as simultaneous closings allow a wholesaler to schedule two back to back closings for the same property on the same day. The wholesaler will need to have a source of funds to pay for the first transaction. This is where transactional funding (also known as same day funds) is needed.
Our company offers transactional funding to all of our Private Mentoring Students. However our students need to schedule both closing with our title company in order for us to offer the transactional funding. We will only offer transactional funding if both closings are with our title company (Independence Title & Escrow).
If you are looking to flip a bank owned property then you will have two contracts and two closings. The first contract is between the bank (seller) and you (buyer). The second contract is between you (seller) and your end buyer (buyer). The end buyer is the person that will ultimately be the long term owner of the property.
Example:
A – BankB – You
C – End Buyer
Assume that you have a contract with the bank to purchase a bank owned property at $40,000 (first contract). This is known as the A-B transaction.You market this property to your cash buyers and you find a buyer at $45,000. You sign a contract with this buyer with you being the seller and them being the buyer (second contract). This is known as the B-C transaction.
The difference between the two contracts (after deducting closing costs) is your profit which you will walk away with at the closing. Since there are two contracts there are two closings. This means you will pay double closing costs.
The transactional funding fee that we charge is 2% +$495 with a minimum fee of $1,250. For example if you were to request $40,000 your fee would be $800+$495=$1,295. We will only provide transactional funding if you use our title company (Independence Title) for both closings.
To learn more about transactional funding please visit http://lexlevinrad.com/transaction_funding.html
Copyright © 2009, Lex Levinrad - Vivian Hooton speaks about Virtual REO
commodoreblack asked:
Vivian Hooton is one of the top students of Mark Jackson and Sam Bell in their Virtual REO system. He talks with Roberto Mazzoni about what he learned in a working cruise where they invested directly from the ship.
- Rick Dove speaks about Virtual REO
commodoreblack asked:
Rick Dove is one of the top students of Mark Jackson and Sam Bell in their Virtual REO system. He talks with Roberto Mazzoni about what he learned in a working cruise where they invested directly from the ship.
- Why Banks Prefer to Sell Bulk REO PropertyDuncan Wierman asked:
Bulk REO investments are one of the hottest ways that people are looking into in order to provide themselves with some sort of financial stability in these fiscally trying times. If you are looking at bulk REO investment as a way of getting a good investment deal, one of the things that you should understand about these types of transactions is the reason why banks prefer to sell bulk REOs. This is very important in order for you to have a better idea of why bulk REO investments can be profitable, and why they can also hide some tricks up its sleeve which a good bulk REO investor can easily avoid.
The REO process
Banks and bulk REO investments are intricately interlinked with one another because the REOs are actually the result of foreclosures done by banks on real estate that has not been paid by the homeowner. Today, one of the best assets that a person can have is a home, because it is one of the most highly valued private properties that a person can put on collateral. Because of this, many people put the home in mortgage agreements to act as a form of collateral in order for them to secure more credits and loans from lending institutions such as banks. In the event that person can no longer pay the mortgage, the bank can choose to foreclose the agreement and claim the real estate.
The catch
However, the banks actually prefer to have their accounts cleared by payments instead of through foreclosures. For most people, the widely held belief is that foreclosures are intentional acts of the banking institutions to cash in money. Contrary to popular belief, however, unpaid mortgages that has resulted in foreclosures as well as in bulk REOs actually works against the name of the bank, since as an institution the primary goal is to lend and retrieve the lent amounts in cash. Because of this, most real estate foreclosed by the banks is immediately sent to foreclosure auctions in order for the banks to get rid of the foreclosed property from its accounts as soon as possible. In the accounts, for more, these REOs show up not as assets but as liabilities.
The REO is born
Hence, when the bank is unable to find suitable buyers for the repossessed REO lots, the bank has several options, one of which is to personally package the bulk REOs for sale to people who need the bulk REO for investment options. The bank can also choose another alternative path that leads to the same goal – the use of real estate agents that will hook up the bank with a buyer of bulk REOs. Whatever means the banks make use of to rid themselves of real estate, the end result is that cheap property becomes available for lay people who are looking for easy investments.
In sum, one of the essential reasons why banks prefer to sell their bulk REOs is because the currency used by the bank as well as other lending institutions is hard cash and credit. This means that a bank does not actually add anything to its reserve of money available for lending when it keeps an REO property.
- Clint Mansell – Moon OST #4 – I'm Sam Bell, Too
PoeticProse22 asked:
Moon Clint Mansell 2009 An exceptional soundtrack from a terrific film
Buy GOLD Online - Sam Bell – Guitar Improv
bicmed88 asked:
This is an old video of me improvising in my old room in Brighton, the walls were so damp there was mould growing, and lots of maggots crawling around. A small slice of guitar. Please check out www.myspace.com/mojudas
- Crepes in Corfu, Greece
MJinmyPJs asked:
.com Lynn Jackson a new author traveling in the Mediterranean stops for some local fair a Crepe. She describes the sheer joy and pleasure of this local treat. Her son Matthew gets in on the pleasure so much it makes him do the happy dance. … "real estate" "reo deals" "house values" "real estate comps" "real estate investing" investorcompsonline "virtual reo investing" "mark jackson" mjinmypjs "sam bell 3rd" "web 2.0" "real estate wealth 2.0" "internet investors club" comps "comparable sales" …
- Roberto olmos and sam bell
rcolmos asked:
sam bell from web 2.0 semminar at mark kozlowski, with roberto olmos and julio maldonado
CASH2GOLD – Members-Only Content for WordPress - Beginner Real Estate Investment Tips For Today's EconomyJudy Cook asked:
I too was once a beginner real estate investor. When I got started in real estate it was in Houston, Texas in the mid 1980's. That town was experiencing what our country is experiencing today. Over one third of the houses were foreclosed on … at one time or another … property values had dropped. FHA and VA had large volumes of houses that were for sale. After those foreclosures the FHA and VA needed to get rid of them. They would list them in the paper for all to see and to go bid on them. They sold them using closed bids. They would open out of the bid offerings on a certain day and award sale to the highest bidder.
It was a time when REO's [REO stands for Real Estate Owned] were everywhere. It was the first time I understood short sale. When times are like they are now, it's a good time to get out and make money. The real estate is there and the prices are good.
Plus, in this business, you don't always have to use your money. There is someone else out there who will partner with you. Sometimes they are Dentists, or Professionals who have take their money and have decided they want real good returns. They will partner with you for part of the profit. This is not a bad way to go because the money flows in. And the good news is no one is looking at your credit report. No one is looking at you. And no one is putting out a large loan on your credit to bring your scores down. That's worth something in itself, not having to spend time filing papers for the bank or the mortgage company. There is no waiting for the money, it's already available.
There are plenty of people right now who understand a good deal when they see one. Everybody concentrates in the news about people being foreclosed on. They never talk about the fact that those same people need a place to live and are typically eager to rent a house that is in nice shape.
And unless you are in Texas where Lease Options are against the law, you could probably do a Lease Option and structure it in such a way that when the market comes back up they could purchase the house that they are renting from you at a later date.
I've found in the past that always makes for a better tenant that takes better care of my property. As a result my properties are more liquid when I need them to be. All in all, for us real estate investors, since we didn't create this mess, and we are not responsible for the situation. So we feel real estate investors shouldn't feel guilty when taking advantage of the mess that is in front of us.
There are ways for us to help out. I know, in the news they are talking daily about how the Government intends to fix things and how the mortgage companies intend to fix things and help people out, but there are still going to be way to many people who need help. It is our job to get out and see what we can do to help them.
- Structuring Short Sales and REO Deals For ProfitJulian Lee asked:
Short sales and REO home (Real Estate Owned) deals can be constructed by investors who have an understanding of how to create a positive outcome for home owners facing financial difficulty. A short sale is an option that a homeowner can choose to take up to avoid a bank foreclosure. This differs from an REO home situation, where the property has already been foreclosed by the bank. The major advantage for a home owner who opts for a short sale is that this agreement will result less impact on the credit rating of the distressed home owner. When an investor understands flipping short sales and how to put together property deals on REO properties, they are in a good position to structure a profitable deal.
At present the IRS will provide tax breaks when home owners enter into a short sale agreement on their primary residence. This tax relief will continue until 2012 and the owner will receive debt forgiveness through tax exclusions up to $2 million ($1 million if each married partner files separately.) This benefit is only possible for those who have agreed to a short sale. Once the bank forecloses and the property becomes an REO home, then this option is no longer available. Investors who know about flipping short sales can create real estate deals that will benefit the home owner, providing them with an opportunity in light of a very difficult decision.
In the present economic climate, the opportunities for finding properties that are suitable for flipping short sales are increasing. Choosing the short sale option remains a better path for home owners who are in a dire financial situation as a result of work layoffs and other problems. Alongside of this the number of home owners facing foreclosure and the amount of foreclosed homes available is on the rise. Once the bank has foreclosed and has a REO home that it needs to handle, they will aim to sell the property quickly, usually at a discounted price, in order to regain any losses from the foreclosure process. If you want to master making money in spite of the poor economic climate, then knowing how to structure real estate deals that focus on flipping short sales and on-selling REO homes provides a solid solution for wealth creation.
Generally, a home owner who is in financial difficulty will aim to secure a short sale of their home, as this is still better than foreclosure. By investing wisely and structuring a solid deal, you can take this situation and create a better solution for the current home owner by pairing them with a buyer eager to purchase their home. This is good news for the investor, plus it is a better answer for the home owner than going through a foreclosure and ending up worse off when the bank takes their home and sells it as a REO home. By gaining the knowledge needed to put together deals and create profit flipping short sales and selling REO homes, you not only aid others, you'll also improve your and your family's financial standing.
- REO Properties – Can Investing In Bank Owned Real Estate Make You Rich?Simon Volkov asked:
REO properties are becoming a hot commodity for both novice and serious real estate investors. Also known as "real estate owned" these properties are returned to the bank after attempts have been made to sell the property through foreclosure auctions.
Real estate owned properties can include single or multi-family dwellings, commercial buildings, farms and vacant land. A common misconception is that bank owned real estate is sold for pennies on the dollar. This is typically not the case. The exception to this rule is to purchase REO's from a private real estate investor who specializes in purchasing bank portfolios at wholesale cost.
Private investors and investing companies have the ability to purchase distressed properties in bulk. Doing so allows them to buy real estate for pennies on the dollar and enables them to pass their savings along to real estate investors who want to expand their portfolios or individuals who are looking for a good deal for their personal residence.
Many banks publish their REO properties directly on their company website. Generally, a contact person will be assigned to the property. This individual is known as a Loss Mitigator and they will be the person who can make or break your deal. If you decide to make an offer on REO properties directly with the bank, be prepared for a lengthy process.
It is rare for the Loss Mitigation department to accept your first offer. It's important to understand that REO properties were once foreclosure homes with no equity and an inflated mortgage. More was owed on the houses than they were worth, which is usually why they didn't sell at auction. The bank is in business to make money and is going to wheel-and-deal to obtain the best possible offer.
If you work with an REO specialist you can avoid counter-offer after counter-offer. Typically, it is a quick-and-easy transaction. The private investor has already purchased the property. It is no longer owned by the bank, so you do not have to work with the Loss Mitigation department. Better yet, you'll be able to buy the property at a much lower rate than you will ever be able to negotiate with the bank. In some cases, you can buy REO property for seventy cents on the dollar. Do you know of any banks offering deals with that much built-in equity?
In the past, buying bank owned properties has been the turf of serious real estate investors. Due to today's market slump and home prices prohibitively expensive in many areas across the U.S., many first-time home buyers are investigating real estate owned properties.
It's best to work with an REO specialist when engaging in this type of real estate transaction. These individuals can guide you through the process, help you locate properties and ensure you submit the proper paperwork. Just one missing form can cause you to lose out on a lucrative real estate opportunity. Are you willing to take that risk?
If you are currently investing, or considering investing in real estate you would be wise to create your investment strategy now. Experts predict investing in REO properties will generate millions, if not billions, of dollars for savvy real estate investors. Will you be on the receiving end of this upcoming real estate boon?
- Mark Jackson and his wife Lynn explain Virtual REO investing
commodoreblack asked:
Just after returning from working a cruise in Nassau with their top students, Mark Jackson and hiw wife Lynn explain to Roberto Mazzoni what is REO Investing and how they have refined it to a system that can be done from everywhere.
- Roberto Mazzoni uses InvestorCompsOnline to value his REO deals.
MJinmyPJs asked:
an offer to the bank. Here he is describing a house which was acquired successfully and has decided to hold auction as an exit strategy. … "Roberto Mazzoni" MJLifeCoach "Mark Jackson" "real estate" "reo deals" "house values" "real estate comps" "real estate investing" investorcompsonline "virtual reo investing" "mark jackson" mjinmypjs "sam bell 3rd" "web 2.0" "real estate wealth 2.0" "internet investors club" comps "comparable sales" reogoldminer http://reogoldminer.com http://knowyourarv.com …
- Virtual REO Investing
virtualreo asked:
www.virtualrealestatetrainer.com Isnt it about time someone used the power of the internet to make investing easy? If You Can Use the Internet, You CAN Buy Property, Regardless of Your Credit Rating or Lack of Funds!
- Eat your prunes.
MJinmyPJs asked:
virtualreoinvesting.com MJ having breakfast after a good workout aboard the cruise ship Costa Fortuna. MJ is traveling across the Atlantic with his family & business partner Sam Bell lll. MJ is proving you can do business from anywhere even in the middle of the ocean! … "real estate" investorcompsonline "home values" "house values" "reo deals" "virtual reo investing"
- Sam Bell explains his Virtual REO Model to Italian investors
commodoreblack asked:
In Miami, just after a business cruise with his top students, Sam shares with Roberto Mazzoni the key points of his system that jhe has been teaching together with Mark Jasckson.
- Mark Jackson and Virtual REO Investing
commodoreblack asked:
Mark Jackson recaps with Roberto Mazzoni the key points of the innovative investment strategy he has developed for finding and buyiing bank owned properties through the web.
- Alex Zlochevsky speaks about Virtual REO
commodoreblack asked:
Alex Zlochevsky is one of the top students of Mark Jackson and Sam Bell in their Virtual REO system. He talks with Roberto Mazzoni about what he learned in a working cruise where they invested directly from the ship.
- Sam Bell & Mark Jackson Looking For Euros
amilby27 asked:
virtualreoinvesting.com Sam Bell & Mark Jackson looking for euros to pay for internet service in Guadalupe. Always be prepared when traveling abroad!
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