Owner: Wholesale Properties - Wholesale Property Listings on Action Investor Network URL:http://actioninvestornetwork.blogspot.com Join Date: Sun, 23 Mar 2008 01:03:52 -0500 Rating:0 Site Description: Wholesale Real Estate Property Portal with Wholesale Property Listings from Real Estate Investors for Wholesaling or Private Funding. All Wholesale Properties provide Detailed Information on each Property and is a Great Opportunity for Real Estate Invest Site statistics:Click here
REO Foreclosure Step by Step 2008-03-12 22:17:00 We are investing in REO properties around Southern California and would like to share the process with everyone.There are 3 phases to a foreclosure process:1 - Pre-foreclosure: This is usually after the NOD (Notice of Default) has been filed. A typical sale for pre-foreclosure would be a short sale.2 - Trustee sale: This is the process where the property is auctioned off at the county court house or at the property itself. This process is an auction format so you will need to have financing ready prior to bidding.3 - REO or Real Estate Owned: This is when the property did not sell at the Trustee sale and the deed has been trasnferred back to the Bank.For our investments, due to availability and numerous data available, we chose to concentrate on REO properties. We have found REO prop Read more:Foreclosure
Wholesale Foreclosure Flip 2008-02-23 11:32:00 With the foreclosure rate hitting all time highs in Southern California, lot of Real Estate Investors are starting to purchase Foreclosed homes and flipping them for a small profit.Foreclosed homes are considered REO Homes and they are owned by the Bank. REO Homes are a better deal than buying in the open market for Investors because of the following reasons:Usually the bank that holds the 1st Trust Deed forecloses on the home. This means that the bank is usually in it for approximately 80% of the home value when it was originally purchased.Banks are in dire need, especially now, to reduce their REO inventory to satisfy their shareholders. This means that they are willing to take less than market value.REO Homes are usually in poor condition due to neglect. This can be due to time it takes Read more:Foreclosure
, Wholesale
REO Homes 2008-01-27 10:29:00 I had many people ask me about my Foreclosure list article. That article was geared for investors looking for Pre-Foreclosure lists.If you are a Real Estate Investor or a buyer looking for a great deat, I have compiled a small list of link I have gathered. These links are to wll known Banks and Financial Institutions that list their REO properties directly.IndyMacCountrywideHSBCBank of AmericaJP Morgan ChaseWells FargoWhat is an REO you ask? REO stands for Real Estate Owned and usually refers to a property that was foreclosed and is now owned by the bank itself. That means, that at foreclosure, no one either showed up at the auction or did not bid at all.These properties usually represent a great deal as Investments as usually the 1st Trust Deed forecloses. This means that the bank is in Read more:Homes
Wholesale Real Estate 2008-01-22 23:07:00 A good way for anyone interested in real estate investing without putting down huge sums of money is through wholesaling real estate contracts. Wholesale
or Contract Assignments are a way for anyone to control the real estate property for sale to someone else.Everything in Real Estate
is about control and rights to do something with it. A common way to control the property is through option to purchase or through actually having a purchase contract with ability to assign the contract to someone else.This is how it works:A typical scenario involves you finding a property that will be favorable to investors. Favorable meaning that owner will carry, there is a huge upside potential, or the deal is structured so that the investor will profit immediately. Once you find this property through adv
Foreclosure Lists 2007-12-31 16:05:00 I get asked often, where I get my foreclosure list.These lists consists of either NOD or NTS list. In my experience, I have found these through title companies. Since I get these from the title company, they are regional and do not cover all counties.Now, to get these lists emailed to you, you need to know someone in the title company or one of their client. Since we are all investors and know at least one or two loan officers, they are a good candidate for us to hit up.Who are the title companie's clients? They are the loan officers or real estate agents/brokers. This is because they have a good say in which title company a seller or borrower use in a real estate transaction.This is what I do: I contact a loan agent and ask them if they receive NOD/NTS list from their title company. If th Read more:Foreclosure
, Lists
DCR - Debt Coverage Ratio 2007-10-31 02:29:00 Whenever you are dealing with banks and investors, you are asked what the DCR or Debt CoverageRatio
is. This post will briefly explain what it is, how it is calculated and why they would want to know this information.Debt Coverage Ratio (DCR) is a ratio of NOI to the loan payment. A ratio of 1 means that NOI is equal to the loan payment. Higher the DCR, more money you have left over after the loan payment. Conversely, lower the DCR, more money you will have to take out of your pocket to cover the loan payment.Typically, banks look for DCR of at least 1.2 . This means that for every loan payment of $1.00, your NOI equals $1.20. Which means that you have a profit of $0.20 for every dollar. Some banks will allow less DCR and it will depend on the type of investment, terms, and your fi
What is a Cap Rate? 2007-07-31 14:30:00 Many people ask me what a Cap Rate is when considering commercial real property investments. Cap rate is return on investment and is directly related to amount of investment in dollars and return or Net Operating Income (NOI).How is the Cap rate related to NOI? NOI is the total income after ALL expenses excluding debt services and taxes. Basically, it is the amount of income you can expect to receive from the property after everything has been paid for. For example, if the apartment building has income of $560,000 per year and all of your expenses excluding debt service (mortgage) and taxes are $480,000. Then, your NOI would be $560,000 less $480,000, which equals $80,000.How does all these figures get used to determine my return you ask? Let's plug in all the numbers.To calculate the Ca
Purchasing Properties at an Auction 2008-12-02 02:13:00 Purchasing Foreclosed properties at a Trustee Auction
, while it seems like you will make tons of money, you have to be very careful and do your due diligence.Typical due diligence might be to run a title report to see how many trust deeds are on the property, which trust deed is foreclosing, and what it's current market value is for the property in Average Condition.The reason for running a title Read more:Properties
, Purchasing
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