For Sale By Owner’s or FSBO’s…pronounced “Fizboes“.

For investors like myself, when I come across a For Sale By Owner Sign…I’ve died and gone to  heaven. For starters, I’ve fortunately come across a property that isn’t listed on the MLS which means that everyone and their grandfather won’t already know about it. The gives me an edge…one that offers more opportunity than a listed property.

I’ve been able to negotiate some great deals on For Sale By Owner properties, resulting in some massive wholesale profits. When I’m able to take down a deal that’s below market value, I can pass that savings/some of that profit on to my buyers because there’s no commission either.

You never know when you might run across one of these awesome opportunities and if you haven’t already- you certainly will and when you do, you’ll be so glad that you have this Fizboe Form/Script in your real estate investing arsenal of forms.

>>>>Click Here To Download the Fizboe Form/Script

and while you’re adding tools to your arsenal

if you haven’t read this PDF about Bulk REO trading
yet, I recommend it. I had the chance to check
it out a few days ago and have to admit that I’m definitely intrigued with it.

I’m told that this guy is intending to give away 3 free-houses
or something wild like that.  I really and truly have no clue what that’s
about or how he intends to do it…but that’s what I hear anyways.

>>>>Click Here To Download the “Arbitrage Conspiracy Report” and enter the free house giveaway.

Check in with ya later!

Karen

The Art of Robbing Banks

By Pre$ton Ely

The richest and smartest people in the world go where the money is easy. They’re really pretty lazy. They refuse to fight uphill battles. Rather they opt to slide down slippery slopes of joy.

Now that the market has decided to go “Britney Spears” on us we need to take a closer look at what we are doing here. We need to make sure there isn’t something “easier” out there than dealing with the standard “motivated seller.”

It turns out there is.

Before the market took a nosedive, our “I Buy Houses” classified ad in the Tampa Tribune was one of like thirty. But now? We are one of only four.

Where did everyone go?

I was just interviewing one of the nation’s top wholesalers who told me he is currently spending ZERO dollars on seller marketing. He used to spend $8,000 a month. Where are his leads coming from?

Everyone is switching to REO Bank-Owned foreclosures.

And there is a reason for that.

Ever since the stimulus package was unrolled banks have been giving away their inventory of foreclosed homes like unwanted clothes to goodwill. And they are able to do this for good reason. A reason which you will learn very soon.

We recently picked up a house from a bank for $2,500 smack dab in the middle of Tampa. We flipped it immediately for a $20,000 profit. Never spent a dime.

You can do the exact same thing … if you know what you’re doing. (wow … that’s a big “if”)

How would you like to be the recipient of some of these “rag tag” houses? Well you can. Easily. You simply have to know where to stand in line and how to claim your fair share.

Up until now, investors have been paralyzed with fear when it came to flipping REO (bank owned) foreclosure houses. The biggest obstacle? Non-assignable contracts. Banks don’t like wholesalers. They’re weird like that. Whoever’s name is on the contract must close (in their name) on the deal.

Obviously this is not the game we play. Using your own money is for morons with no brains. Rich people (even billionaires) do not use their own money. We use the moronic people’s money. : – )

But what if there was a way to sneak your buyers in to close on the property for you right underneath the bank’s nose while you get paid your $10,000 “flip” fee right at the closing? And what if that way was totally and completely 100% legit? You would want to learn this tactic I’m sure.

As a “problem solver,” which is what you as a real estate investor are, you need as many tools in your tool belt as possible. There is no such thing as “knowing enough.” The very best in our industry never stop growing and expanding their repertoire of investing strategies (except for Stick Boy). I just watched as Than Merrill devoured The Short Sale Kid’s entire home study course on a recent plane trip. Than is already a master of short sales. But in his words, “if I can get just one new tip from a course it pays me back many thousands of dollars.”

Unfortunately, the step-by-step process for doing these secret REO “double closes” would take much more than this article to explain. But a more in depth tutorial is on the way to you soon. Keep your eyes peeled.

Does the old way of “motivated seller marketing” work? Absolutely. We still do it every day. We have direct mail campaigns, and classified ads, and ppc ads, and a host of other strategies in place at all times. But we are also doing some REO’s. We are “both/and” kind of people. Either/Or thinking is for the small minded. Large souls want it all.

You can have it all.

Starting right now.

Pick Up Your Own Free Copy Here Right Now- Just tell us where to send it….

What Kinds Of Flip Houses To Look For

You want the type of house that your buyers will want, the ones that, for
them, sell the fastest, and, of course, ones they can make a profit on.

Following are some tips on what you should be
looking for. In general, especially if you are
just starting out, avoid houses in the high end of the market.

Yes, they can look beautiful, and clean up real nice, but most
retail buyers will not be able to afford to live in them. And as
rentals, they are murder when investors are trying to cover the
mortgage payments.

* You want to work mainly with houses in working class
neighborhoods. Investors will be interested in these types of
homes for rental purposes. And a majority of reliable renters
will want to live in these neighborhoods.
* Look for houses in need of repair.

* Look for peeling paint, broken windows, unmowed grass, general disrepair.
Especially in the beginning of your career, deal mainly with
houses that do not need structural repairs, like foundation work.

You will receive your fees quicker because any needed repair work
can be done relatively quickly. In the neighborhood you are
working in, you want houses that are most affordable for
first-time buyers. Those are the houses your buyer will want to
rent out.

Put another way, you want houses in the median price
range for your area.

* The ideal house investor will want to buy will have 3 bedrooms and 2 baths, although
you can get away with 1 ½ baths. This is the bread and
butter rental house for your buyers. If your area has only 2
bedrooms and 1 bath, you may have to go with that. Or, go
50-60 miles out to do your farming for good deals.

What about war zone houses?

* Generally, you will do better in working class neighborhoods.
However, if you have buyers on your buyer’s list who want war
zone types of homes, go for it.

* Avoid houses with weird floor plans. For example, houses
where one is required to go through a bedroom to get to a
kitchen, etc. They will be harder for your buyer to rent or retail.
* Avoid houses that are too small.Medium size houses are what
you are after. Medium square footage for your
area, that is.

The more equity your deal has in it, the better your chances of
unloading it to a buyer for fast cash.
More equity means there is plenty of room for your buyer’s
profit, not to mention your fee.

* You, of course, want to be dealing with motivated sellers
who are willing (or forced) to take a discount from their
asking price.

Need some more free tips and ideas? Check this out…

FREE “House Flipping Basics” e-book

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