Sunday, January 18, 2009

Finding REO Houses

Sounds too good to be true doesn't it?
That's exactly what I thought. Until I did some research and actually spoke to some of these investors. I was, to put it mildly - AMAZED.

These guys were buying a package of 10 to 50 houses and within a few months were selling them at 3 to 10 times what they had paid for them. AND - they were selling them at great prices too! They were even using real estate agents in the various cities and towns to do the legwork and the agents were earning commissions and getting the homes sold within a few weeks!

It's easy to imagine buying a $40,000 house for $4,000 and then reselling it way, way under market value for $18,000. In short - in any market, there are always deals to be had. The HARD PART, is finding the REO Houses.

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