5 Steps to Foreclosure Fortunes
Andy Heller
Foreclosures are at an all time high in the US today. It is a huge deal to the banks and homeowners everywhere. How do I define huge deal? When Katie Couric runs a story every night this week about the housing market and foreclosures on the CBS Nightly News that qualifies it as a huge deal. Just last night I watched her talk about foreclosures from the bank’s viewpoint. The banks are at the point now where they don’t want to take back anymore houses. They are running tv ads around the country trying to tell people where to go for assistance to stay out of foreclosure. Sadly though they admit most of the people that are behind on their payments will not get caught up and will end up losing their homes to foreclosure.
It is great if you can keep them out of foreclosure but that isn’t always possible. So what happens to all of those homes? The banks take them back and then they have to go through the painful processes of reselling them, something a bank is not designed to do. During our talk with Andy he is going to share with you the post-foreclosure process. Just as importantly he is going to explain how to build relationships with REO agents and bank representatives to keep an endless stream of deals coming your direction. Andy’s process is for anyone that is tired of scanning over hundreds of MLS listings, running around town with a Realtor looking at 20 houses a weekend and still coming home with nothing but a bunch of offers made.
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Andy and his business partner Scott have spent the last 15 years cashing in on the post-foreclosure process. In that time they have purchased north of 100 properties and have set themselves and their families up for financial security for the rest of their lives. The crazy thing about it is they both did it while working full time jobs! I know what you are thinking, “I don’t want to keep my job.” I hear you loud and clear. Many people need to keep their job at least for a little while until their investing careers can cover the bills. Wouldn’t it be nice to be able to build up your wealth without running ragged?
Andy shared his entire process with us last fall. Go back and learn more about the entire REO purchase and lease-option process.
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