Are REOs the Best Real Estate Investment in New York?
Have you jumped on the REO bandwagon? It seems like REO properties are among the most talked about types of real estate investments today. Many New York real estate investors are interested in locating and purchasing REO properties. They scour local listings and get in line to make an appointment for a viewing of a bank REO.
It’s easy to see why a REO property would be considered an excellent way to make money in real estate investing. REO properties are real estate owned properties. When a homeowner defaults on his mortgage payments, the bank repossesses the home and then turns around and resells it. Thus, it stands to reason that REO properties would have good investment potential.
But have you ever considered the benefits of a diversified portfolio? REO property investing is a solid investment scheme, to be certain, but you will also benefit from looking beyond REO properties. The most successful real estate investors purchase REOs and foreclosures, but they also know to look for other types of properties, too. These might include pre-foreclosures (leads to highly motivated sellers whose homes are about to be repossessed by the bank), and wholesale properties (properties owned by other real estate investors).
One of the reasons you might want to look beyond REO properties is their popularity. So many people are interested in buying REOs that competition is fierce, and it sometimes takes quite awhile to even get an appointment to view a bank REO. The popularity of buying REO properties for investments has also meant that the price of REOs has steadily increased. This means it’s harder to locate a bank REO property that will allow you to make a decent profit on your investment. And real estate investors depend on locating bargain-priced properties to make money on their real estate investments.
Where can you find information on other kinds of properties? Look no further than www.myhousedeals.com, where we provide comprehensive, constantly updated listings of wholesale properties. Most of the entries on our listings are exclusive to us, meaning you won’t be vying for REO properties along with every other real estate investor in town. Our listings include all the information you need—property location, seller details, potential value, and possible repairs.
Subscribers to the wholesale property listings at www.myhousedeals.com have found that buying wholesale properties is a beneficial way to sidestep some of the problems with REO listings. With multiple streams of income, your financial future and the health of your real estate portfolio is insured. While REOs are an excellent investment strategy, doesn’t it make sense to spread out your real estate dollars somewhat?
We guarantee our subscribers at least 15 new listings every month, and we also guarantee $15,000 in equity or spread. Dedicated bank REO property buyers will also want to be sure to look into the wholesale property market.
Don’t you owe it to yourself and your financial future to consider other income streams besides REO properties? Are you ready to jump start your real estate investing career today? Become a member for free today by clicking the button below!