Finding Buyers For REO Deals

By Jerome Pennix

The procedure is a tedious one after a home is foreclosed by the bank. The mortgage companies take weeks if not months after foreclosure to get their paperwork done, do evictions and minor repairs and make the assignments to the real estate brokers who they have hired to sell their properties. But the time of clean up and eviction is not a concern for the savvy investor, it is an opportunity to get buyers so that these houses sell almost immediately as you get them under contract.

REOGoldMiner.com is the premier site to find and valuate these REO properties. In order to change these deals into profits, we suggest an investor start the steps of rounding up buyers as soon as the property is under contract. Videos, photos and massive email lists are several ways to bring your potential buyers.

Whenever you advertise your properties use photos or better yet video. Ill get to more video in a minute. This tends to get the buyer serious before they visit the property. Even for buyers of a 100K home, they like to see pictures and it helps the buyer make an emotional connection. Investors and the individual buyer now search the internet to find homes that they can get serious about buying. It is very important to give them enough information to make a decision.

Another effective tool REOGoldMiner.com recommends is videoing the house. Taking video has expanded on the process for purchasers when they are searching the internet. If you can show the buyer the house in detail by exposing the floor plan that photos can not, then the buyer can form a more qualified opinion on what they need to examine when they visit the property to make the decision process of a yes or no quicker. Video on the web is the newest, latest and greatest mode of advertising your houses for sale.

Finally, collecting a list of potential buyers is also another must in the world of REO houses. Creating the action before the house sits on the market for an extended amount of time is powerful for the REO investor. If you consider about 10 years ago in real estate, buyers came to real estate brokers to see what they had listed. Many buyers still do the same thing even though they have access to the web and the inventory. But, if you have a list already collected of potential buyers it will help your house sell much quicker. - 23309

About the Author:

REOGoldMiner.com not only offers the ability to find the REO deals but we also offer a community of investors that our members can also advertise their deals to. REOGoldMiner.com finds you the REO deals and even gives you an avenue to find buyers right through our site. Helping you get your deals sold as quickly as possible.

Protect Your Investment Property"Conduct Move-In Reports

By Dana Powell

When the time comes for your tenant to move out of your rental property, you will need to be prepared to complete a security deposit reconciliation; which is when you compare how the tenant left the residence versus the condition it was rented to them in.

That is where the move-in report comes into play. Having a detailed move-in report will save you in the long run. You will have written documentation to hold the tenant accountable to.

Don't be too hasty when performing the move-in. A little time allotted for precise and meticulous documentation, will go a long way in the end.

When conducting the move-in, it is best to start in one room of the house and move fluidly throughout the home. Often times it will be the living room, because it is typically the first room you enter. Remember the more detailed the better. Marking the living room as good just will not cut it.

Start from the ceiling and work your way down to the floors. Are there hooks or cracks in the ceiling? Is the popcorn crumbling in some areas? Check to see if the ceiling fan works properly. Make sure all the lights are all working properly

As soon as you finish one area (ceiling, walls, ceiling fans, etc.) move on to the next. Does the room have a sliding glass door? Is it in proper working order? Are there any blinds or drapes? Is the screen door free from dents or holes?

Now continue on this path throughout the house, make sure to check all the bedrooms, bathrooms, kitchen, dining room or area. Don't forget basements, garages, and utility or laundry rooms as well.

The exterior of the home often gets over looked but it is imperative that the exterior condition gets acknowledged. They say a picture is worth a thousand words; as such, it is a tool that a savvy landlord would be wise to implement; during all move- in and move out reports.

Allow your tenant to review the move-in report; answer any questions they may have. Arrange for convenient times to make any repairs that may have arisen during the move-in. Have your new tenant sign and date the report with the understanding that this IS the move-in condition. Mail or give them a copy of the report, and allow them three to seven days to make notes of anything else they may find needs documentation.

Hopefully you can see why conducting a complete and comprehensive move-in report really is crucial. You wont mistakenly charge your tenant for damage that was already present; and you wont have to bear the costs of any new damage when they leave. - 23309

About the Author:

Looking for a wonderful Redding Area Rentals or Red Bluff Rentals? Northern California Property Management is the premier property management in the area. To learn more about us and our available listings, click on the previous links