Buying Bank Foreclosure Homes

June 7, 2017 Facebook Twitter LinkedIn Google+ Online Auction

If you are thinking about buying bank foreclosure homes then you may be making a good decision. Be sure that this is the right thing for you though before you go through with the purchase.

Purchasing any property is a big deal and it should be taken seriously. Many people invest in bank foreclosure homes and they are good at it. They have what it takes to make a profit on the investment. If you think that you have what it takes then you should have certain qualities and expectations of the home and the investment.

One of the biggest things you need to keep in mind with bank foreclosure homes is that they will require your time and your energy. You will have to make repairs on the home, do landscaping, and make the home in a condition that it is ready to be lived in if your goal is to sell it. If you want to buy the home then you can make repairs while you are living in it but you need to be sure the home is livable. Don’t buy a home that has repairs that will cost you too much money so you don’t have an investment at all. Be prepared to make repairs and spend the time required to bring the home up to par.

Another thing to consider with bank foreclosure homes is that you can make money on them when you do it properly. Don’t expect a home to sell the first week of being on the market. A home may take six months to sell. You need to be prepared to wait for a home to sell. During this time you will also need to provide the necessary maintenance on the home to be sure that it is in great condition when people want to look at it.

When you buy bank foreclosed homes as an investment you could be making a really good decisions. Many investors make a lot of money on it but they have patience and the time it takes to spend on each house they purchase to ensure that it is in acceptable condition to flip. You can make a profit buying foreclosures. If you buy a foreclosure with the intent to live in it then you are getting a home at a great price but you will need to take the time to fix it up and give it a little TLC.

Search bank foreclosure homes by state or get more information on bank foreclosure homes at
Kevin Simpson, GM Sales & Marketing

How to Buy Bank Owned Real Estate

How to Buy Bank Owned Real Estate –

As a word of caution, I do not necessarily believe that bank owned real estate, or REOs, are the best way to buy properties.

After all, REOs are listed on the MLS, which means that they are being sold at retail prices and there is a great deal of competition, which drives up the price.

Again, if you want to make money as an investor, you BUY at wholesale prices and SELL at retail. So searching the MLS for REOs doesn’t fit this strategy.

That being said, you may still find a few good deals, but you need to look for ugly houses that require repair.

How do you buy bank owned real estate? Watch the video to find out my real estate investing coaching tips on REOs.

Want more coaching advice? Check out

Real Estate Investing Coaching Tips
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