The current conditions of our real estate market provides great advantages for those of us that have decided to jump into the market and take advantage of the low prices. The weakness of the U.S. economy has given rise to the largest epidemic of foreclosures in American history. Yet as always, challenges bring opportunities.
The year 2010 was another breaking year for foreclosures and bank REOs. Over a million homes were converted to REO properties during 2010!, eventhough we experienced a slow down in the fourth quarter of 2010. According to RealtyTrac, foreclosure filings hit 2.87 million U.S. homes in 2010 (in other words, one out of every 45 homes in the US). That represented an increase of 2 percent when compared to 2009.
What is expected for 2011? We should expect a spike on the number of foreclosures, specially in the first six months of the year. The uncertainties to Freddie Mac and Fannie Mae will cause stress in the real estate market, specially on those properties that on the verge of falling into foreclosures.
So how can you profit on this market? One way is to join the group of investors that have decided to focus on the REO industry. As I shared with you in the past, we are not the only ones cherry picking the best deals, there are many intelligent Realtors and investors taking advantage of the situation. This require that you be prepared, as Jack Welch said "If you don't have a competitive advantage, don't compete."
One of the areas of our industry that provides a great opportunity for great profits is REOs. Like many other areas, those that have learned the basics of the trade can profit tremendously in our current real estate market. In my search for new material to continue and improve my skills I have come across of the BPO REO Business Kit
. I have found it to be very educative and easy to read and it is a must for those interested in profiting from this market. This real estate program will show you how to easily, effectively, efficiently, and affordably attract bank asset managers and BPO companies to work with you, and give you endless BPO assignments and Bank REO Listings!
On this program, you will also learn about get access to Short Sales listings on an efficient manner. I found that this program has all the ingredients to start a BPO and REO business. Like anything that is of value—you have to put EFFORT into it, you receive in direct proportion what you invest. If you are serious about the REO Industry, you should seriously consider this program.Learn More