If you missed the boat on jumping on the band wagon for generating business by representing banks on their REO's. Don't worry..every realtors mom and dad is trying to jump on boat to estatblish a bank relationship to list their REO's. The smart agents were doing this early last year predicting the market ahead of time. And a lot of the realtors that were around selling REO's in the 90's have come back and reestablished their relationships with the banks and are doing well. I know this for a fact, because I have two of them in my office doing very well.
All of the signs, news, pestimistic views of the current market we are currently experiencing remind me of the late 90"s. It's like deja vu...I and a few of agents back then were buying and making low ball offers on REO properties to rent and hold...and we ended up selling them in 4 years ago for a profit.
Prices are dropping in areas like the Inland Empire. Riverside, Corona, Moreno Valley, Perris and the High Desert Areas. A lot of REO's are coming up. If you offer the right price you can rent and hold on. There is a lot of investors that are optimistic on the market and are looking for REALTORS to guide and help them find the right properties to buy, rent & hold.
Study these areas....know the rental markets....study the vacancy markets...keep on top of the financing markets for non-owner occupied financing....study the numbers...hook up with a good property manangment company you can refer these investors too, www.ocremaxrentals.com, one that will help you sell your investor clients on the investment and the market.
Advertise yourself to investors....with your knowledge....your expertise......
If you have any questions on these subject, feel free to call me.
Al
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