Buying Foreclosures Insider Tips
Buying foreclosures is an extremely hot topic right now. With escalating foreclosure rates, banks are dumping properties left and right and investors are getting great deals . . . truly a win win!
You see, banks want investors buying foreclosures. They NEED to unload their inventory! Most people don’t know that for every house a bank takes back as a foreclosure, it limits the amount that the bank can lend.
And that’s how banks make money . . . by lending it out. Banks aren’t in the business of owning real estate, they’re in the business of loaning money and making interest.
Soooo, banks are very motivated to get these liabilities off their books. That’s where you, the investor, come into play . . . if you know how to navigate the foreclosure buying process.
One of the most viewed real estate investing videos on YouTube right now is called, “Real Estate Investing Tip: Becoming a Foreclosure Insider.” Wholesaler, Bob Norton, shares some great tips on building relationships with REO and foreclosure agents so that you can start buying foreclosures.
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Patrick Riddle: