| Leverage is the Key. You can leverage your cash, | | | | I used to get access to these packages myself, and |
| your assets, other people's, anything, including your full | | | | for others, too. |
| portfolio if you want to go to the next level. | | | | Finding the Assets. |
| What's the biggest problem with banks in 2010? "Too | | | | Finding the assets can be difficult, but don't waste your |
| big to fail" banks get a bailout from the government, | | | | time trying to deal with banks that don't want to talk to |
| which means the taxpayers prop them up, such that | | | | you. Instead, go with smaller, regional or local banks, or |
| executives still get huge bonuses. What about those | | | | even credit unions, that will. These are sometimes |
| banks that are too big to fail, though? What do they do | | | | called "portfolio lenders," and if you find the person |
| when they've got so many foreclosed properties to | | | | that's the one to go to at particular bank or credit union, |
| deal with? | | | | that's great. Next, you need to figure out what to say. |
| Enter Bulk REO | | | | What do you say? You don't want to sound like you're |
| Before we talk about bulk REO, let's talk about the | | | | inexperienced, and you want to be able to spot |
| foreclosure system in general. Once a home has gone | | | | shysters who act like they have direct access but |
| through the foreclosure process and is auctioned off, | | | | really don't. Bulk REO Secrets has all this information |
| it's done. If you own the underlying mortgage on the | | | | for you, to give you instant credibility and the means to |
| house, you'll put in a bid for the amount owed plus | | | | get to the "go to" guys at the smaller banks and credit |
| expenses; in that case, oftentimes, a real estate | | | | unions. |
| investor will outbid the original properly holder, such that | | | | Three Forms Needed. |
| the debt is paid off. If there is no bid or the lender is the | | | | You'll need to fill out three forms to do bulk REO deals. |
| highest bid, the lender ends up with the property. That's | | | | You need a nondisclosure agreement, a letter of intent, |
| not what most lenders want. They simply have a | | | | and a proof of funds letter. You can get a $1 million |
| property that's sitting there empty. The property is now | | | | proof of funds letter for free just for buying Bulk REO |
| called "real estate owned," or REO, which means the | | | | Secrets. |
| lender owns it. Hundreds or thousands of small banks | | | | Take Care of Financing. |
| and credit unions that are too big to fail have many of | | | | Finding can be the most difficult part of real estate |
| these properties on the books, and they're not | | | | investing, but not to worry. The course will teach you |
| producing any cash flow. Because they don't get | | | | how to do this, too, depending on what your exit |
| bailout money, they don't get big bonuses and they | | | | strategy is. You'll need to have financing lined up unless |
| need to get rid of these properties. What do those | | | | you're simply acting as a broker, in which case you |
| banks and credit unions do? They can sell them | | | | won't. If you keep the course, you'll need something |
| individually, or they can package them in one big bundle | | | | called "distressed REO financing," or if you're going to |
| and sell them to someone who can come up with a | | | | flip properties out of the package, you'll need to close |
| reasonable offer. | | | | with "transactional funding." This, too, is included in the |
| Which do you think probably happens? | | | | course. I know someone who finances packages, with |
| The REO packages are usually sold for much less | | | | no credit score required, and a source for transactional |
| than the market value, maybe $.40 or even $.50 on | | | | funding with no upfront fees necessary, so that you |
| the dollar. That makes something that could be | | | | can line up $1 million quite easily, no questions asked, or |
| disastrous much less so. What's even better is that for | | | | more than that if you make a phone call. |
| the first time, these packages can be bought by | | | | Flipping. |
| individual investors to broker, buy, flip or even keep. | | | | You can flip REO bulk deals in a package or |
| That's good news, but it can take some work to find | | | | individually, and this is a great way to syndicate what |
| these bulk REO packages. There are lots of so-called | | | | you do. As large scale wholesaling, it takes some |
| "brokers" who pretend to have direct access to these | | | | finesse, and I can show you how to do that. What do |
| deals, but that's not usually the best way to go. Instead | | | | you need to do? Build your buyer's list first and then |
| of going through a "middleman," you want direct | | | | start marketing before you get the tape. |
| access to these packages yourself if you want to get | | | | "Bulk REO Brokering" |
| into this. | | | | "Bulk brokering" is a favorite strategy, and you don't |
| Finding Bulk REO Packages | | | | need a license or experience to do so. However, it can |
| Finding bulk REO packages is actually pretty easy to | | | | get you some amazing cash, fast. One of the best |
| do if you know where to look and what to say to | | | | ways to market the package is to hedge funds, which |
| people. However, you don't look where you think you | | | | you can find online. With this, you can get both cash |
| might. That's where the Bulk REO Secrets course can | | | | and property. And that's all there is to it. |
| help. The steps in this course are based upon methods | | | | |