Should You Buy Bank Owned Properties?

As real estate investors, you make your money when you BUY! So, many investors have asked, "Are buying bank owned properties a good investment deal?"

In this video, Neva Williamson will go over exactly why they ARE NOT good deals, but how they can be!

If you enjoyed this video, make sure to give us a thumbs up, leave a comment, and subscribe!

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Follow Neva Williamson on Social - @WilliamsonNeva

[KwameIsrael]

I agree with some points in the video but I was able to acquire a REO Property for 42K. Mechanicals were stolen, Busted Patio door, missing 2nd floor window and the rest all cosmetic. Repair costs were 11K total. Property rents for $1300 per month. Due to the fact the house is only 11years old, I have no major Maintenance issues. I strongly believe the numbers work in my favor. I'm grossing $15, 600 per.

[jigglylizard]

Wow a six minute video that gets right to the point. Your videos have been amazing. Keep it up, Neva!

[REOAuctionAcademy]

Yes REO properties are a great investment. We have bought REOs in 44 states primarily from online auctions or MLS. We like to target vacant properties. It makes wholesaling easy. We also keep some as rentals and Buy/Fix/Resell

[morelandcapitalgroup]

I used to watch your videos when I first got started wholesaling. I know you took a little hiatus so I clicked on the vid as soon as I saw your picture because you always had good content. It’s great to see you expanding your brand with Bigger Pockets. Congrats!

[Vinnafetish]

I live in Detroit and some of the bank own properties here let's just say it's hard to tell what's getting demolished and what isn't.

[tommymorgan]

Now here’s my question: how do I find the agents who list only bank owned properties?

[PFlow]

yes but they will eventually cave if the house stays on the market.... I bought two this year and did great...

[biggerpockets]

Do you agree?


Let us know below :)

[angelar.]

Funny thing is when I was looking for a home in PA there were so many reasonable listings so I set up a viewing . Once I arrived to PA of course majority of the homes were not listed or some other excuse . I was not happy and decided to rent but changed my mind overall due to the false advertising . I didn't want what they wanted to show me .

[bjh]

Wow, this is great. Smart, pretty, very good information, and to the point. I will be back for sure when another video is posted.

[ShewedDude]

I bought and rehabbed a REO property they definitely work especially because they cover what needs to be brought up to code in order for it to be habitable. So do shy away from it.

[verapetty]

This video was very helpful. I didn't know that's what banks did with their properties.

[seanmalo]

Info is partially correct. Bank owned properties are always a case by case basis. Sometimes the bank will list at a “deal “ price and you have to run red lights to get your offer in. Other times it’s listed at or above market for condition. Good condition, turn key homes even though they are bank owned typically sell close to market value for the area. Find yourself an agent who knows the market well, who works with investors and understands what you’re thinking to plan is. Flipping, cashflow as a rental or long term hold for equity gain.

[lascrucesnm]

Lovely Lady, thank you!!! And definitely i will build that relationship with the am watching from Las Cruces, NM :)

[klwtherd]

Why are banks so freaking greedy? It still blows my mind that they would turn down a CASH BUYER that can take that property off their hands immediately to wait for someone to get approved for an FHA loan. Smh.

[jrobin]

I think you are better off trying to buy it on the courthouse steps if the plaintiff max bid is way below the value of the property.

[carismamorales]

Excellent, you're the most to the point, clearer person I ever know that tells like it is. Thank you.

[BougieNerd]

New to the whole industry. I appreciate the content.

[Santos-ekmd]

I'm glad Bigger Pockets has been around as long as they've have. Knowledge on here stands out more than others. This video included drops plenty of hints to topics that have rolled around my mind. I've recently left the Morris Invest channel, literally unsubbed thought the man running it was a straight-shooter.

Thanks Neva & BP!

[MexicanMaga]

I love love love this video!!! We need his kind of advice when it comes to money. Thank you!!