The Next Step

Foreclosures, Short Sales, Tax Foreclosures
1

Hello All,

After you get the address and contact info on REO’s, what’s the next step?

Thanks,

2

Most REOs are listed with a realtor. Ask for a showing and go inside to really look at the property. You will be able to make a more accurate offer this way.

3

Hello Q BS,
The next step for what ???
What are your exit strategy for the properties you are looking at ?
Do you know Your market area?
The homes that are REO’s ,do you know what their market value is ?

4

Hi GOD WNZ,

I plan on wholesaling these properties. Sorry for not making that clear. Yes, I know my market area and I have a Realtor to give me comps on properties I’m interested in. I was looking for a play-by-play, step-by-step to wholesaling REO’s from someone who’s done them before successfully and know how to work them.

Thanks

5

Hello Q,
You could use your realtor to write the offers. Your name should include and or asigns. The realtor may not like it but let the seller tell you “no” not the realtor.Make a low enough offer that you could resell it right away. Hopefully you have some sort of buyers list. Price solves every ting. The and or assigns added at the end of your name gives you the right to sell your contract. In other words the right to assign it to some one. You need a one page “assignment of contract” contract. ask your realtor for one and fill it out when you have a buyer. :sleep
Done for the night,
007

6

Hello 00,

Thanks for that. When start to aquire a buyers list, you use a NDA right. Where do you normally get it from?

Thanks