Bank owned properties can be bought for as little as 15% and then she wholesales them to other investors who rehab them and rent them for cash flow or sell them to retail buyers getting a nice profit themselves. In this type of activity it is crucial to buy low enough and that you check upfront how easy it will be to resell the property.
Working as a wholesaler includes selling more and more times to the same buyers and therefore one must make sure that he provides deal that make money also for the next investor stepping into the deal and that the second investor is able to get them sold fast enough.
The general rule is to NEVER offer more than 82% of the asking price, no matter how low it already is, and rather try to close deals that are in the 15 – to 25% range of current market value, if you plan to wholesale the deal, even to overseas buyers.
Sandra Negron has been operating so far on the Florida market, which is pretty rich of bank owned properties anyway, but now is ready to move also to other states using the system learned from Mark Jackson and Sam Bell on their Virtual REO course.
She is one of the top students of Mark and Sam and she has been invited to the special investing cruise to the Bahamas where she has refined her skills in virtual investing to the point of being able to locale properties and evaluate them directly on the ship and then make offers.
Roberto Mazzoni
P.S. This interview was done for the benefit of my Italian investors who will be using and following VREO. IF you want to know more about the system and its application to international sales, subscribe to this site!
Here we are with another of the top student of the Virtual REO program created by Mark Jackson and Sam Bell. She is from Texas and she has just left a cruise ship where, while sailing between Miami and Nassau in the Bahamas, she has learned how to select bank owned properties from the Web, how to make offers on them and how to automate her business once she will be back home.
She has been a part of a lot of mastermind groups and she says that this was exceptional. So much clarity on the thing that she has been learning that she is just ready to go and become the best REO investor in her area. It was the best ever experience for her.
Virtual REO is a method for locating the best bank owned properties on any market, to evaluate them a compared to their market and to make offers that will produce the lowest possible acquisition costs, while have the maximum upside potential in selling. The whole process can be done from a computer via the web and, as demonstrated in the cruise, anyone can perform the selection, the evaluation and even the first steps of negotiation while being on the sea, far from the location where the property is.
I am personally studying the system right now, so to make it available to Italian investors who want to operate in the US, and I find it very easy to understand also thanks to the availability of 16 video lessons that show every aspect of it in a simple and direct way. And Mark Jackson and Sam Bell are simply the best: very easy to deal with, very responsive, very, very competent in their field.
Richmond was getting too small for these two investors, of Korean origin, Dean & Shane Lee who few months ago discovered the virtual system developed by Mark Jackson and Sam Bell for finding and buying bank owned properties all over the United States. They are rehabbers and wholesalers, and have discovered all the key elements of locating REO (Real Estate Owned) properties and dealing with banks during a working cruise to Nassau.
Here I am interviewing them just as they stepped down from the ship, inside the port of Miami. And they give their personal experience on this very unusual type of training and coaching initiative. how to really do this new investing strategy. They have learned how to structure they work so that they concentrate on making offers and delegate the research activity to a personal assistant that they can train for the purpose by using the automatic research systems and the training materials offered by Mark and Sam under InvestorCompsOnline, Virtual REO Investing and REOGoldminer.
The interview is translated to the benefit of my Italian investors.
Roberto Mazzoni
P.S. Join our mailing list so that you can also tap into the potential of International sales and have access to my programs for finding buyers and private lenders in Europe.
P.S.S If I am using the systems of Mark and Sam while being a foreigner with no previous experience on the US real estate market, and I use them for supporting many other investors in Italy, so can you!
Bank owned properties are the hottest product on the US real estate market right now. Some markets are more rich than others in this regard and the situation keeps shifting along with the inventory of the various banks. You can’t always do the best deal in your own back yard and it is such a fast market that you night just miss opportunities by not being ready right on the spot. That’s why the best investing techniques today are those related to the use of the Web and the employment of virtual methods to find the properties, evaluate them, acquire and resell them.
Virtual real estate investing applied to REO’s (Real Estate Owned properties) is the new successful wave and the two prominent experts in this field, Mark Jackson and Sam Bell, just made a live demonstration by bringing their top students on a cruise in Nassau and having them invest directly from the ship.
Listen to Mark Jackson and his wife Lynn telling how this surprising project has worked out.
Sam Bell, the Web 2.0 real estate guru and Mark Jackson’s partner, tells us how the students have applied his techniques from the sea and how anyone can apply them, from anywhere, anytime.
Roberto Mazzoni
P.S. The interview are also translated for the benefit of Intalian investors that will use this system from abroad.
This is the motto I have been taught over and over by my marketing mentor and friend Chris Krimitsos (www.commanderblue.com) and that I have religiously applied to my business activity as well as to my personal relationships. It follows my own idea that it takes a team to execute any worthwhile project and also that you can become wealthy to the degree that you contribute with you work and knowledge to other people lives and wealth.
I have been fortunate to meet a team of US entrepreneurs, Mark Jackson (http://www.knowyourarvlaunch.com/blog/) and Sam Bell (http://www.sambell3rd.com/) that share the same vision and approach and that can develop new business opportunities and models in the blink of an eye based on that. We are working on a special project for making it easy for Italian and European investors to buy real estate in the US, leveraging the expanding market offered by bank owned properties.
The project took off literally in Miami, when Mark and Sam had just returned from a training cruise to the carribean island with their key students. Look at the video I recorded then, that set everything in motion.
The concept of the project is very simple: we will be looking for bulk REO properties that we will acquire with funds from European investors and that we will market to the US and to Europe to people who want to buy and hold. Lots of opportunities for many people.
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