REO's

Real Estate Owned : Is a property that goes back to the lending company if the foreclosure process was unsuccessful. Buying reo's are not always a great deal, and again remember that term "due diligence" I talk about it so much,well it will have to be done for REO's ,before making an offer.Make sure the price you offer is comparable to properties in the area. Staying within a 3/4 radius for comps can give you a idea on what has sold in the last few days to the last 6 months.

Make sure and consider the repair cost, how long it will take for all the repairs etc... Contacting contractors, sometimes will benefit you,  they can give you their evaluation for the work that is going to be needed, sometimes a handyman, Realtor comps of recently sold properties can give you idea as to what materials were used to repair or replace certain items. Remember that REO;s can be a tremendous  investment opportunity or it can be costly and  trouble. Make your offer and make it easy for the bank to accept.


                                                                                                             Hcompanys

15 questions to ask as a Investor ?

These differences will help you determine some important information when looking at properties to purchase as a Short Sale?
                                                               
                                                             SHORT SALES / Good & Bad


     Good:

1. Home owner may not have the time & knowledge.
2. Approaching or are in pre-foreclosure.
3. Hardships-unemployed,divorce,death of spouse, behind in payments etc....
4. Home owner is motivated to work w/you and co-operative.
5. lis pendens / NOD Notice of Default has been filed.
6. no equity / no leverage-owe more than what property is worth
7. Property needs work & repairs.
8.  More than one mortgage.
9. Leins

      Bads:

1. Property has to much equity lender would probably foreclose for full payment.
2. Not in compliance.
3. Owner hardship are not legitimate/ to many excuse's.
4. Being sold by Sheriff's in less than 10 days.
5. Owner requesting to stay in the property.
6. Not caring at all.

Remember, if you can set up a Realtor as a partner in your area is a crucial aspect of your team, they are very valuable when preparing to submit your S.S. Package to the negotiator .

                                                                                                            Always Looking Up

                                                                                                              Greg Hernandez

Hello and Welcome to Hblogs

Here at Hblogs our intents are to share, educate and post topics that involve ethical Real Estate Investing. Whether its Foreclosure's, REO's, Code Violations, or Wholesaling properties we will try to keep you informed with up to date strategies, tips, and laws. Feel free to drop us a line and share your stories about your road to success in R.E. Investing. We would like to hear your questions, so just leave your email address and post your questions and we will glad to answer them.

                                                                                                        Thanks for visiting
                                                                                                              Greg H.