How To Buy Bank Owned Properties Cheap with Jason Palliser

👋 In our latest video, we dive deep into the intriguing world of Zombie Foreclosures. Join me, Jason, as I break down what exactly a Zombie Foreclosure is and, more importantly, how you can seize this unique opportunity in the market.

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Introduction - How To Buy Bank Owned Properties Cheap:
Welcome, aspiring real estate moguls! If you've got the itch for a profitable venture, diving into the world of buying and flipping foreclosure properties from banks could be your golden ticket. In this comprehensive guide, I, Jason, your real estate coach, will walk you through the essential steps to turn these distressed properties into lucrative assets. Let's embark on this exciting journey together!

Research and Education - How To Buy Bank Owned Properties Cheap:
Before you jump in, knowledge is key. Understand the foreclosure process, legalities, and market trends in your area. Attend workshops, read relevant books, and stay updated on the real estate landscape.

Financing Matters - How To Buy Bank Owned Properties Cheap:
Secure your financial foundation. Pre-approval for a mortgage or having liquid assets is crucial. Banks often favor buyers with a clear financial plan, so get your ducks in a row before making any moves.

Build a Dream Team - How To Buy Bank Owned Properties Cheap:
Assemble a reliable team comprising a real estate agent, attorney, and contractor. A seasoned agent can guide you through the process, an attorney can handle legal intricacies, and a trustworthy contractor ensures your flip is both efficient and cost-effective.

Scout Distressed Properties - How To Buy Bank Owned Properties Cheap:
Keep a keen eye on foreclosure listings, both online and offline. Attend foreclosure auctions, visit distressed neighborhoods, and establish a network with local banks. Sometimes, the best opportunities are hidden gems.

Due Diligence - How To Buy Bank Owned Properties Cheap:
Once you identify a potential property, conduct thorough due diligence. Assess the property's condition, estimate repair costs, and determine its market value post-renovation. This step is crucial for ensuring your potential profits.

Negotiate with Banks - How To Buy Bank Owned Properties Cheap:
Negotiating with banks requires finesse. Be prepared to present your case, demonstrate your financial capability, and highlight your commitment to the property. Sometimes, banks are more inclined to work with serious and prepared buyers.

Secure Financing - How To Buy Bank Owned Properties Cheap:
Whether through a traditional mortgage or private financing, secure the necessary funds. Your pre-approval and solid financial plan will play a significant role in this stage.

Close the Deal - How To Buy Bank Owned Properties Cheap:
Once terms are agreed upon, move swiftly to close the deal. Work closely with your attorney to ensure a smooth transaction, addressing any potential legal hiccups along the way.

Implement a Strategic Renovation - How To Buy Bank Owned Properties Cheap:
Efficiently manage the renovation process. Stick to a budget and timeline, focusing on improvements that add significant value to the property. Aesthetics matter, but practical upgrades can enhance the property's overall appeal.

Market and Sell - How To Buy Bank Owned Properties Cheap:
Finally, market your revitalized property effectively. Leverage online platforms, work with your real estate agent, and showcase the transformation. A well-marketed property can attract potential buyers and maximize your return on investment.

Closing Thoughts - How To Buy Bank Owned Properties Cheap:
Congratulations, you've now mastered the art of buying and flipping foreclosure properties from banks! Remember, patience, persistence, and a strategic approach are your best allies in this venture. Now, go out there and turn those distressed properties into real estate success stories. Happy flipping!

#realestateinvesting #realestatewholesaling #wholesalingrealestate

[lindazacarias]

This is exactly what I need to know!! I see foreclosures listed on the MLS for months and not moving!

[cromleyluxrecorporation]

Nice video guys!
I just spoke with a good friend of mine that is the president of a large law firm in my area. He is also the president of a local bank and his brother in law is the head of a separate bank.
I need to put together a strategy session. Also my broker manager works with many attorneys and gets 5-10 listings per month just from them.
Appreciate the content as usual and looking forward to some insight. Stay blessed my brothers!!

[robertwolfe]

Love to see more of these techniques...great job

[ThePeachAgent]

Please provide more information on working with Asset Mgrs at local banks and credit unions. Thank you.

[kerileadens]

I'm meeting up to view my first REO today...some last minute cramming lead me to choosing this video to watch. Thank you for all the pointers and information. I would love more details on talking with these asset agents, and I will be asking the agent today during the walk thru about their status. There are a few more in the area that could mirror what I plan to do on the first one. We'll see! Fantastic Friday....11 months later :)

[edwardmeyers]

This video looks like a great strategy for me right now. I have no money for marketing, so this makes total sense. I do need to know how to find the REO agents for the big banks and the non-performing asset managers for the credit unions and local banks. Thanks!

[randylanesr]

Yes, please send me more information on how to get bank foreclosure properties

[CherylVanFosson]

Thank you for this information. I would love more information on how to find these REO Agents and on finding these properties.

[heatherzander]

Would like more details on talking with REO or asset agents.

[businessownerfunding]

Please provide more info on bypassing the gatekeepers and gain access to the asset managers.

[robertshine]

I would love to know more about how to get in touch with access management

[louisbrentnell]

I would love to learn how to get to the reo agents. Your help would be greatly appreciated!

[prosperify]

Thank you for this informative information, You guys are the best

[karenmurphy]

yes, I would like more info on contacting asset managers. Very helpful video. thanks

[diannecolonna]

yes i would like to know more about contacting asset managers

[davidtrevino]

I would like to know more on contacting my local banks on REO's. Thanks

[emilgeorge]

Would like to know more about establishing these REO agent relationships locally. thX Emil

[perfectshotfilming]

Hello. New to the channel, great video! Can you do a live call to the banks and Reo agents please if you haven’t?

[leongilmore]

I would love to know more about asset management

[altonatesii]

Great info as normal!! I would like more information as to how you get in direct contact with the asset managers.