As investors we all know the importance of real estate comps and using them to make our deals profitable. Some of the investment deals we discussed this week were short sales and REO’s. 
When you are working with short sales patience is key. You’re not dealing with the owner alone, in this case the bank makes the final decision. That decision can take weeks, and sometimes months. Then there are REO’s, or bank owned properties, you can stand to save 20% or more off the market value on those homes. Use InvestorCompsOnline to do your research, this gives you an edge and allow for a profit on each deal.
Lastly, learning to take note of things going on in the real estate market will allow to you navigate and help your business thrive. Always keep in mind that I am happy to help with any real estate query. Click on the comment tab below and I will do my best to assist you!
Many times investors work with real estate comps to decide on the price of a property. There are several avenues to purchase properties, whether it’s financing, private money and of course there is always the cash sale. Many times cash sales are preferred as this eliminates mortgage payments in the future.
Even given that cash sales tend to be more cut and dry, the number of properties bought by cash buyer and investors has fallen by 26 percent. Although one would imagine that this would be the opposite affect given the prices of the current market. Unfortunately this drop in cash investments is a refection of the uncertain investment climate, high unemployment and the widespread negative equity many properties are seeing.
Learning to take note of things going on in the real estate market will allow to you navigate and help your business thrive. I have plans in place that can help you with your research along the way, click here to learn how we can help you PROFIT on EVERY deal!
Happy Monday Folks! Today I wanted to share with you something that is prevalent in current real estate comps, that is REO’s properties. I wanted to talk with you about a few benefits that you can expect to come along with your purchase.
You can generally save a bundle on these homes-around 20% or more off market value. The lenders typically want to get rid of these properties as soon as possible. They are now at the mercy of the buyer. Meaning, they will now sell these assets to the public at generously discounted prices.
Since these lenders want to get rid of these homes asap, they will mend any outstanding debts or taxes. They will also handle situations such as evictions to make the transactions as smooth as possible for the new home buyer.
You should always keep in mind that properties typically get to the REO stage if a regular foreclosure auction has failed to meet the monetary standards that the lender feels is suitable for the property. This should factor into your own maximum value. Use InvestorCompsOnline to do your own research, you will be able to decide on a single dollar amount that you are willing to pay for this property.
I hope these benefits have helped to sweeten the pot and turned you toward this lucrative field. There are many investors that are making their mark working with REO’s properties. Step out and make your mark today!
Whether you have your eyes set on long term investments or a quick property flip the rules are the same. Real estate comps are something you should make yourself very familiar with. Of course we all know that location is equally as important as valuing the property properly. InvestorCompsOnline can absolutely assist with the research of property locations, valuation, and the steps of the sale of the property.
Staying abreast of the latest real estate information and using that knowledge to help you profit on each deal is key. Whether you are looking at REO’s, foreclosures, or short sales, make the best choice of all and let us at InvestorCompsOnline help you each step of the way. Learn to PROFIT on EVERY deal!! Click HERE to check out our real estate support options!
