Bulk REO Investing 101
Posted on | September 24, 2009 | No Comments
The recession in the U.S. economy has caused more foreclosures than experienced by any other generation of Americans. However, as always, this challenge has given way to a large new opportunity for informed real estate investors.
Bulk REO Investing is the face of the new business, and its captured the interest of most well-heeled investors.
Why don’t we take a moment to understand the basics of this incredibly lucrative opportunity. Understanding the idea of Bulk REOs requires comprehension of the foreclosure process. When a property owner begins to miss payments on their loan, the lender begins to send late/overdue letters to the home owner. After a certain period, the mortgage company will then officially begin foreclosure proceedings. Between the formal beginning of the foreclosure proceedings and the public auction is the preforeclosure time.
The auction of the defaulted property signifies completion of the foreclosure process. Ownership of the house is returned to the lender if the property goes unsold at auction. The classification of REO (Real Estate Owned) is then attached to the foreclosed property.
Typically, mortgage companies list their REO properties with local real estate agents in desire of selling the property to a retail buyer who will spend full price. However, REO properties are now frequently sold for far below their book value. However, the acquisition of a package (or group) of REO houses is the trade-off for getting such great prices.
The recession in the U.S. has yielded great profits to real estate investors ready to take advantage. One of the best ways to take advantage of Bulk REO Investing opportunities is to connect with a well-regarded source of finances. Some sources of financing for these transactions are: personal funds, hard money lenders, commercial lenders and non-conventional sources such as private investors and hedge funds.
Tags: bank owned homes > bulk reo investing > business entrepreneur > finance > foreclosure investing > foreclosures > Real Estate > real estate investing > recession opportunities > reo investing
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