house of moneySo you want to know how to make money with REO properties?

You’ve probably run into at least one person that owns two or three homes, and yet their income level isn’t any higher than yours. How do they do it? How do they handle the financial obligations of several residences while you’re struggling to make one mortgage payment?

They probably have access to the secret of multi family homes.

What is an REO Property?

These properties have been foreclosed on by the bank and now they need to re-sell them again.

However, depending on the kind of property overload they are dealing with, they may be willing to sell these for pennies on the dollar.

If you can pay off the property taxes and bring the payments current, it can be yours!

Consider the cost of trying to purchase a brand new home versus bringing the payments current on an existing property. How much money could you save and how much could you earn in the future?

Once these properties have been fixed up and made ready for new residents, you will have a source of rental income, and for much less than the price of a brand new home.

Paying for an REO Property

So where do you find the money for these multiple resident properties?

If you’re worried about your credit rating and may not have the ability to get a home loan, then you’ll especially benefit from this secret.

Getting a loan to pay property taxes and three or four months of house payments is going to be much easier than getting an entire house loan.

It’s the cost difference of $175,000 compared to $20,000. For less than the cost of a car, you can get a residual source of income for you and your family.

Even if you only did this once a year, in three years, you would have a source of income that didn’t require regular labor and would still come in consistently.

In fact, you may even have access to this amount of money on your credit cards. As long as you stick to the payments and make sure you pay it down regularly, you’ll avoid excessive interest rates.

Summary of Potential REO Property Income

Once you’ve read a little more on this and seen how easy it really is to acquire an REO property, you’ll enjoy a source of income that wasn’t available before.

This is how regular people are able to expand their financial horizons beyond the typical 9-5 job.

If you want to learn how to make money with REO properties, get a low-interest loan application submitted and set an appointment with a loan officer today.

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This is filed under Home Buying.

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