The Ultimate List of Tampa Bay REO Properties
A real estate owned property, or REO, refers to a type of property that a government agency, a bank or another type of lender owns. An REO occurs when the mortgage lender repossesses a property after the homeowner fails to pay the mortgage, which results in the lender serving a notice of foreclosure. Afterward, the lender puts the home up for auction to the highest bidder. REOs have made many investors wealthy, allowing them to purchase a house for a low price, make the necessary repairs and flip it for a large profit.
Even though REOs benefit some investors, these properties don't always just fall in your lap. A lot of time and research goes into finding the right REO for purchase, and even if you find one, you have a hundred more investors who plan to bid on the same house. Lenders over-advertise REOs to drive interest. In doing so, more investors flock to the house and try to outbid each other until the price goes well above average. If you want an alternative to REOs and make more profits, invest in wholesale properties in Tampa Bay.
MyHouseDeals has a complete list of wholesale properties, which sell below market value and create more profit. We have built relationships with wholesalers who have plenty of wholesale properties available for resale. These properties come in all shapes and sizes; while some need repairs, others can go right back on the market. Wholesalers have these properties under contract and want to assign that contract to you for a small fee. You can either make the repairs and sell the house for an immediate profit or rent it for sustainable income over the years.
While wholesale properties offer greater benefits than REOs, you should try your hand at both. Experienced investors don't place all of their resources in a single opportunity; they have different investments going at once to see whether they fail or succeed. This approach is how you build a successful business in the real estate investment market. However, once you start investing in both REOs and wholesale properties, we think you'll prefer the advantages of wholesale investments. While you can make money in a variety of ways in the real estate market, you can do it easier with the help of MyHouseDeals.
Whether you plan to flip houses for immediate profits or build a steady stream of income through rentals, you can do it all with wholesale property investments in Tampa Bay. Join MyHouseDeals for free today and gain access to our exclusive list of investment properties in the Tampa Bay area. We keep our list updated with the latest information and only share it with a limited number of investors for the least amount of competition.