OfflineCan anybody out there tell me how buy real estate at 10 cents on the dollar. I'm not talking about getting lucky on one or two deals. I am talking about good real estate in good areas consistently being bought at 10 cents on the dollar. Also, don't post things like that isn't possible because I know somebody that does it all the time but, he won't reveal his secrets. Thanks.
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Yoda says "there is no try, only do"
There may be a couple of options to purchase homes at 10 cents on the dollar.
1) Tax Liens
2) Purchasing foreclosed home from banks in bulk. Most banks that sell in bulk require you to purchase 100 homes. There have been instances of banks selling lots of 50 homes.
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nstreet, how would I find out what banks do this? Is there a list of banks somewhere, or would I just start calling? I suppose it depends on what each has available at any given time. I could start with the ones we've purchased REOs from.
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
why wont your buddy let you in on the secret? Offer him/her 5k to teach you. Or say I will split the profit 50/50 on the first house we do together.
D
Don't Wish the Past, Create the Future! - DH
I think tax liens is probably a good guess.
As for bulk REOs... I doubt it. I don't even know anyone who knows anyone who has done it. It's a very shady world where everyone is a broker to a broker. Even then, the numbers I have seen thrown out were only in the 40-45% of FMV range, well off 10%.
And the min purchase was in the 5-10M range. But like I said, Im not even sure if those deals actually existed.
As for bulk REOs... I doubt it. I don't even know anyone who knows anyone who has done it. It's a very shady world where everyone is a broker to a broker. Even then, the numbers I have seen thrown out were only in the 40-45% of FMV range, well off 10%.
And the min purchase was in the 5-10M range. But like I said, Im not even sure if those deals actually existed.
You will find that in real estate there are those that encourage your success and others that will be negative against anything new because they do not understand or have never experienced themselves. Who will you follow an Eagle (positive people) or Turkeys (negative people)?
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
I just now noticed that there are 5 houses owned by the same bank listed in our town. I might do a "mini" bulk offer. I'll talk to the realtor.
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249