Bank Owned Properties
Banked Owned properties are also known as REO’s (real estate owned) or foreclosures. Some of these properties or homes are owned by banks, institutions, corporations, trusts, hedge funds, individuals and other organizations.
With the market conditions that we are currently in there are unfortunately a lot of these properties in both Oregon, Washington, and throughout the country. When the bank takes back a property from an individual they have to sell it within a certain allotted time frame. Each time frame depends on the investment organization that owns the property.
If the bank doesn’t sell the property within the proper time frame then it affects how much money they can lend in the immediate future. If banks aren’t lending money to the consumers then they aren’t making money. This is why so many smaller banks have fallen in the last few years.
So, with every problem there is a solution. With a solution there is profit to be had. This profit isn’t just for the large investors, but for the smaller investors, and even to the first time home buyers. There has never been this type of market condition in the history of real estate. This is different than the Savings and Loans crisis that we had in the 70’s and early 80’s. First off this
Is a global condition and has deeper roots.
Now is the time more than ever to purchase real estate. Fear is a great motivator for people. Sadly we have a media that feeds off of bad news. Did you know that more millionaires were made in the 80’s during the Savings and Loan crisis then any era? How were these millionaires made? You bet… real estate.
Real estate is an inflation proof asset that always hedges against it because of a fixed rate of interest. In recent years people moved away from this old fashion 30 year fixed rate. Now we are getting back to the basics.
Now is the time more than ever to look into investing in real estate. It doesn’t matter if you are a first time buyer, a home owner looking for a rental property, a novice investor or a seasoned professional.
We get a proprietary list of all the properties that are REO's in the metro area before they are ever listed with a realtor. This gives us an advantage to our competition. We can research the property before it’s listed and at times we can make offers directly to the banks.
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