Humble TX REO-Bank Owned Real Estate

With all the foreclosed properties on the market today it's very tempting to try and flip one or two or more to bank a nice profit. After all, we are constantly hearing stories about someone's brother or cousin or friend that is making big money flipping foreclosures.

So you think to yourself if they can do it why can't you?   You are right you can do it as long as you know how to do it? There are issues that need to be dealt with when flipping a foreclosed property. If ignored your flip is doomed to fail and quite possibly cost you money at the same time.

When a property is foreclosed the bank takes title to the property and it becomes what is known as a REO (real estate owned) property. Upon taking title the bank can do whatever it wants with the property as they now own it.

Most banks immediately list it with a real estate company to sell it. This is where you will be making your offers.  Before making any offer you will need to be aware of the inherent issues when trying to flip a REO property.  

First, the bank will want you to have funds to cover your offer price. This means you need to either have cash in your own bank account to close or you will need to get a loan for the purchase. Upon closing with the bank you automatically create the second issue.  

Second issue, is title seasoning on the back end sale.  The person you will flip the property to will not be approved for financing on the purchase of your property because you as the title owner have not owned the property for at least 90 days. What is that you say? Yes, you read it correctly. It is a problem too many investors learn about when it is too late - at the closing table.  OUCH, but the problem is avoidable.  

With our REO Flip Program you completely eliminate both issues. First, we provide the funds to close with the bank without you having to qualify (if you partner with us)! Second, our many traditional funding products and private funding products eliminate the seasoning issue!

Yes, you can now take advantage of the "HOT" REO opportunities like the big boys and make very serious profits! Flipping REO's can put HUGE sums of money into your pockets very quickly!

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If you have further interest contact us, TODAY!!

Charles Gardner, Realtor/Investor