REO Properties in Los Angeles
Most seasoned real estate investors know what REO properties are, but in case you are new to the field and just starting to learn, here's a definition: REOs refer to homes that have been taken back by the bank in foreclosure proceedings and then put on the market.
Many investors are enthusiastic about buying a REO or a bank REO, and they can indeed be a solid investment strategy. One problem with REO properties is that it can take an enormous amount of time to find and purchase one. Think about it - with everyone interested in bank REOs, there's going to be a lot of investors interested in those properties. It may take you days to even be able to schedule a showing of a bank REO, and by then it will probably be too late. Yes, it's important to diversify your portfolio, but isn't it more important to get your hands on the properties you want and start making money on them?
While it is important to consider all different kinds of real estate as you invest more and more, and while REO properties are always good to keep an eye on, the truth is that there are properties available with the potential to be much more lucrative. Have you ever considered looking into wholesale properties, for instance?
At www.myhousedeals.com we offer listings of wholesale properties and pre-foreclosures, which both offer many benefits that REO property hunters may have overlooked. While we encourage you to consider buying all kinds of property for your real estate investments, including REOs, it's also important to be open to other opportunities. Focusing on REO properties or bank REOs to the exclusion of all others might be a mistake that you will feel in your bottom line.
You might be enthusiastic about REOs and reluctant to try other streams of income. But the most successful real estate investors all agree that diversification is the key. Yes, it's important to continue to scour the listings for REOs, and to look at the MLS and HUD listings regularly. But don't close your mind to the potential benefits of wholesale properties.
Our listings of wholesale properties are updated daily and delivered to your computer screen with all the information you need to consider the purchase-location, seller information, potential value and possible repairs. While all the other real estate investors are off vying for REOs, you will have access to exclusive information that can jump start your real estate investing career. Doesn't that sound like a better course of action than competing for the lone bank REO that is a bargain price, or poring over listings looking for overpriced Los Angeles REO properties that may or may not meet your criteria?
Isn't it time for you to take control of your financial future and kick start your real estate investments? Consider diversifying your strategies. You can keep looking into REOs, but keep up with the newest trends and look into the wholesale properties market. Your career, your bottom line, and your future finances will all thank you.
All you need to do to access the best Los Angeles wholesale deals and pre-foreclosure leads now is click the button below to become a free member with MyHouseDeals.com. You'll be glad you did!