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I go over what you need to know when buying bank owned homes. I give you the ins and outs as well as some money tips when buying from banks. Contact me at http://www.tampa2enjoy.com/contact-us/ Bank owned home accrue after an unsuccessful sale at a foreclosure auction. The banks beneficiary will usually set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there aren't buyers that are interested in the home, then the beneficiary will legally repossess the property. Bank owned homes are also referred to as foreclosed homes or REO (Real Estate Owned). A lot of people confuse a foreclosure with a bank owned home. A foreclosure is not a bank owned home. Foreclosure is the legal process of the bank foreclosing on a home. Once the home has been foreclosed on it's a bank owned home (foreclosed home). A lot of people also confuse the foreclosure / short sale process with the bank owned / REO process. Nothing can be further from the truth. A short sale is a nightmare that can take months (3-6) for the bank even to respond to your offer. While a bank will usually take only 2-5 days. WOW! Big difference. Check out this video so you have a better understanding of what you need to know when buying a bank owned home. Plus - near the end of the video I give some great information you need to know before you buy any bank owned property. View all Bank owned homes in Tampa, FL: http://www.tampa2enjoy.com/search-homes/foreclosed-homes-in-tampa/ Learn more about the bank-owned home process at: https://en.wikipedia.org/wiki/Real_estate_owned Please contact me if you have any questions. Sincerely, Lance Mohr Mohr Home Group at Keller Williams 813-317-4009 http://www.tampa2enjoy.com https://www.youtube.com/tampa2enjoy
http://www.freedommentor.com/worst-way-invest-in-real-estate Discover the WORST way to invest in real estate. This is the other side...real estate investing gone bad.
Dave Dettmann presents part 1 of the top 10 mistakes buyers make when shopping for a foreclosure property. Dave has had over 20 years experience in the field of real estate and is a national speaker & CEO of his own training company. He is licensed in 2 states and is an expert in the art of helping people buy & sell real estate. You can learn more about him at: www.RealEstateAgentsEdge.com , or you can contact him directly at: Ph. 239-728-4016; Email: firstname.lastname@example.org
Bank Owned Homes, what they do not tell you, and what you need to know is discussed in videos Part 1-3 In this Bank Owned Homes PART 1, Marko Vovk, Tom Jones and Jim Roby discuses the importance of inspecting the under ground sewers, storms and drain tile. This bank owned homes video also discuses "Black Mold" other mold, mildew, house odor, IAQ, HVAC, sewer camera, and poor IAQ indoor air quality conditions. The trio speaks how to inspect and identity major problems that are associated with bank owned, foreclosed, or condemned homes. Tom Jones takes part in a discussion about foreclosed homes, boarded homes, condemned homes and bank owned homes in Detroit Cleveland, Atlanta and many other USA cities. Jim Roby discuses mold cleanup, mold mitigation, mold remediation, mold cleaning supplies, black mold, peroxide, bleach, construction mold, house cleaning, and house dust cleanups. Furthermore, the trio discuses the important of using sewer camera to inspect sewers, storms, drain tile and ductwork. The trio meeting is an annual event on the Island Put-N-Bay Lake Erie Ohio. Below are the links for Back Owned Homes Part 2 and Back Owned homes Part 3. LINK TO PART 2 Back Owned Homes What They don't Tell You Part 2 http://www.youtube.com/watch?v=JausGboMw7g LINK TO PART 3 Bank Owned Homes What the Don't Tell You Part 3 http://www.youtube.com/watch?v=ozt_1N4OBPM&feature=youtu.be JIM ROBY You can contact Jim Roby at STS Technology (Steritec) (216) 410-1090, Phone: (216) 451-6653 Fax: (216) 451-5710 or website http://www.steritec.com/ TOM JONES You can contact Tom Jones at email@example.com K.T. Group, Inc. Troy, MI Phone: (248) 828-1603 Fax: (248) 928-5333 E-mail: firstname.lastname@example.org MARKO VOVK You can contact Marko Vovk at Clevelandmold@aol.com, or at http://houseinvestigations.com/ Moisture link http://houseinvestigations.com/moisture-survey/ Mold link http://houseinvestigations.com/mold/
I get a lot of questions about how much to pay for a rehab. You can find a full article on the subject here: https://investfourmore.com/2014/11/03/much-cost-fix-repair-house/ I also did a video on how much it costs just to repair a kitchen here: https://www.youtube.com/watch?v=3xZmEA7J3RA&lc=UgyD0TGx0qHp3fb6FyB4AaABAg You can find much more information on how to flip houses in my book Fix and Flip Your Way to Financial Freedom. The book goes over all the details on how to find, finance, repair, and sell house flips. It is available as an audiobook, paperback, or eBook on Amazon here: http://amzn.to/2Bi8v0O You can see a video on how long it takes to repair a house here: https://www.youtube.com/watch?v=Fi6i6hl3Opo I am a house flipper with 19 active flips at the moment. I spend a lot of time with contractors and budgeting for repairs. This video gives an idea of what I pay for a rehab on one of my houses. The costs can vary greatly based on the contractor you use and where you are located. The more subcontractors you use, usually the cheaper the rehab is. If you use a general contractor the costs can really increase because they will charge a premium to manage the project. There are some contractors who are super expensive because they know homeowners do not know what repairs should cost. You have to take your time finding contractors and comparing prices to find affordable, but reliable companies. You usually do not want the cheapest when hiring contractors, but it is tough to make any money if you go with the expensive contractors. Here is another article on how to find a great contractor. https://investfourmore.com/2014/03/10/find-great-contractor-fix-home/ Here is the after video of the home! https://youtu.be/cSDEdW4iN-c If you are interested in learning more about real estate investing I have multiple books on Amazon. https://amzn.to/2NOOqsl
Listen as Adam Iobst of A-Team Realty, LLC explains the "in's and out's" of purchasing a bank owned property. Enjoy the show.