Posts
"REO companies", are those who deal exclusively with REO investments. REO" means "Real Estate Owned" properties. REO properties are known as bank REOs, bank owned residential property, foreclosures, etc.
For the past couple of years, foreclosure has been all over the United States. This trend is expected to continue in the next 2-3 years or even longer. This resulted to Foreclosure Property Investment being an industry.
There is a huge number of homes in various stages of foreclosure. This is the reason why a number of companies and businesses are dedicating their time in the acquisition and resale of foreclosed properties all over the country.
These are called "REO companies" or "REO asset management companies". As foreclosure properties were just beginning to grab headlines, various investors and real estate professionals began to approach banks and lenders for their lists of bank REOs.
Selling prices of each house is included in the REO listing provided by the bank. Buying foreclosed properties used to be an informal process but soon change when foreclosure become prevalent all over the country.
Specialized companies began to sweep the country due to the increasing number of properties that banks and lenders would want to get rid off.
These new "REO companies" deal only with "distressed" real estate, including bank owned residential property, homes in various stages of foreclosure and homes that are in jeopardy of foreclosure. A lot of businesses like to consider themselves as "REO asset management companies". However, most are not making any money. This is because they lack one or more of the following: experience, strong management, funding/cash flow, relationships with banks and lenders, networks of realtors, contractors and appraisers, etc. However, profitable business companies have all of these attributes and proven business processes.
For the past couple of years, foreclosure has been all over the United States. This trend is expected to continue in the next 2-3 years or even longer. This resulted to Foreclosure Property Investment being an industry.
There is a huge number of homes in various stages of foreclosure. This is the reason why a number of companies and businesses are dedicating their time in the acquisition and resale of foreclosed properties all over the country.
These are called "REO companies" or "REO asset management companies". As foreclosure properties were just beginning to grab headlines, various investors and real estate professionals began to approach banks and lenders for their lists of bank REOs.
Selling prices of each house is included in the REO listing provided by the bank. Buying foreclosed properties used to be an informal process but soon change when foreclosure become prevalent all over the country.
Specialized companies began to sweep the country due to the increasing number of properties that banks and lenders would want to get rid off.
These new "REO companies" deal only with "distressed" real estate, including bank owned residential property, homes in various stages of foreclosure and homes that are in jeopardy of foreclosure. A lot of businesses like to consider themselves as "REO asset management companies". However, most are not making any money. This is because they lack one or more of the following: experience, strong management, funding/cash flow, relationships with banks and lenders, networks of realtors, contractors and appraisers, etc. However, profitable business companies have all of these attributes and proven business processes.
About the Author:
Successful Real Estate Gurus share their secrets in REO Investing and offer a complete listing of Bank REO that can make you earn millions in REO.
No comments:
Post a Comment