REO Properties In Pennsylvania Are Not Unique - From Hard Money Banker

REO properties in Pennsylvania are the same as REO properties in South Jersey, Maryland, DC, Northern VA and any other state you can name. People constantly ask me if REO properties are a good source to get their deals from. They think that banks and brokerages will just hand them properties and have no concern for price or numbers. My answer is, this is partially true. The reality is, REO properties are just another lead source. Like your forms of marketing, you should have multiple avenues of deal sources. Sometimes one source is on fire and while other sources are cold as ice. You might want to have wholesalers, REO properties, MLS , direct mail and probate as a few of the sources to mention. You will then spread your risk of deal flow as opposed to putting all of your eggs in one basket. One of the best ways to think of good deal sources is to not think of houses. What this means is you want to think of a problem that is attached to real estate. As a real estate investor, buying a beat up house solves problems for the people that own them. If the problem is attached to a piece of real estate, then you have something worth looking into.

Ian Walsh 215.839.3271 [email protected] Google+

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