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View the entire “How to Buy” series from Lance Young.

Learn To Make Smart Investments With Our Real Estate Foreclosure eBooks.

Take advantage of the methods that successful investors use to locate, purchase, and sell foreclosure and probate homes with these informative eBooks. They can be purchased and downloaded today, so you can start learning about this profitable market immediately!

"How to Buy Bank-Owned Homes"
Written exclusively for RealtyTrac

  • Author: Lance Young
  • Course Format: eBook download
  • File Format: Adobe PDF
  • Pages: 46
 
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About the “How to Buy Bank-Owned Homes” eBook


Learn to cash in on bank-owned foreclosure properties (REOs) by knowing answers to these questions: Why don’t banks want to be in the real estate business? How do you identify the houses banks prefer not to own? What are the keys to negotiating confidently with bankers? What are the ways to ensure you'll have a comfortable profit margin? How do you wrap up the deal?

The information included in this title – in addition to your RealtyTrac subscription – will give you the competitive edge over less knowledgeable buyers and investors.

Topics:

  • Three methods for finding bank-repossessed properties.
  • Key characteristic of REOs you should pursue AND those to avoid.
  • Three steps you must take after identifying a promising REO before making an offer.
  • Should you use an appraiser and/or a real estate agent? The surprising answers.
  • Easy-to-use formula that reveals whether or not a certain REO will be profitable.
  • Five factors that help you make an attractive offer to the bank.
  • Helpful language to use while negotiating with the banks.
  • Sample sales contract including explanations of key clauses.
  • Critical “weasel clause” that prevents you from getting stuck with a deal that isn’t right.
  • The cheapest and easiest four steps for getting started using just $10 of your own money.

Don’t let others snap up and resell the REOs in your area when you could be doing it and pocketing the profits! Get started today! This title is one of several new titles in RealtyTrac’s series of instantly downloadable eBooks. Invest for profit with these powerful resource materials.

For the best value and savings, order the complete "How to Buy" Real Estate Investing eBook Series - four eBooks for one low price - and you’ll also receive the "How to Buy" Property Liens eBook as a bonus ... FREE! Click here to view the complete series.

About the Author

Lance Young's expertise in real estate investing is grounded in more than 17 years of independent real estate deals and mentoring of novice investors.

His first success came with buying and selling preforeclosure houses. Later, he made tremendous profits in the probate house market.

In 1996, Lance wrote down what he had learned in a one-of-a-kind, step-by-step program for beginners and seasoned investors that shows how to make money buying preforeclosure and probate houses. His investing techniques require just a $10 contract deposit and 10 hours a week finding the most profitable opportunities. Testimonials from his students show that with no experience, people have made first-time profits of $11,000, $31,000 and even $80,000 just by following his simple guidelines.

Lance Young has shared his simple, yet powerful investing methods with thousands of students while continuing as an active investor himself. His motto is: To teach others to become successful, you must be active and practice what you preach.

Table of Contents For “How to Buy Bank-Owned Homes” Standard Edition

Introduction ............................................................................................................. 1

Chapter 1 .................................................................................................................. 3
Why Make Money In Real Estate?

Chapter 2 .................................................................................................................. 4
What Is Foreclosure?
Why Homeowners Get Into Foreclosure
Why So Many Homeowners Fail To Save Their Properties
What You Need To Know To Get Started

Chapter 3 .................................................................................................................. 7
What Is An REO?
Why Banks Get Stuck With REOs
Why Banks Want To Get Rid Of REOs As Quickly As Possible
How You Can Profit From REOs

Chapter 4 ................................................................................................................ 12
Four Methods For Finding REOs
REOs You Should Not Waste Time On
REOs You Should Not Buy
What To Do After You Have Found An REO

Chapter 5 ................................................................................................................ 19
How Do I Find The Fair Market Value Of An REO?
Appraisers
Real Estate Agents And Why You Need One
How Can I Find A Good Real Estate Agent?

Chapter 6 ................................................................................................................ 23
An Easy-To-Use Formula To Find Out If An REO Will Be Profitable

Chapter 7 ................................................................................................................ 28
Negotiating With Banks
Five Factors That Determine The Bank's Willingness To Sell
Price Or Terms?
Three Important Negotiating Tips
An Example Of How To Negotiate With A Banker

Chapter 8 ................................................................................................................ 34
How To Write Contracts To Your Advantage

Chapter 9 ................................................................................................................ 40
A Powerful Way To Make Big Money Fast -- "Flipping" REOs
Steps In The Flipping Process

Chapter 10 .............................................................................................................. 45
Getting Started

Conclusion .............................................................................................................. 46

Table of Contents For “How to Buy Bank-Owned Homes” Condensed Edition

Introduction ............................................................................................................. 1

Chapter 1 .................................................................................................................. 2
What Is An REO?
The Advantages Of Buying REOs Vs. Pre-Foreclosures And Auction Properties
The Best Type Of REO To Pursue
Why Banks Get Stuck With REOs
Why Banks Want To Get Rid Of REOs As Quickly As Possible

Chapter 2 ................................................................................................................. 7
Four Methods For Finding REOs
REOs You Should Not Waste Time On
REOs You Should Not Buy
What To Do After You Have Found An REO

Chapter 3 ............................................................................................................... 14
Negotiating With Banks
Price Or Terms?
Three Important Negotiating Tips
An Example Of How To Negotiate With A Banker

Chapter 4 ............................................................................................................... 19
How To Write Contracts To Your Advantage
Five Valuable Clauses
Home Inspection Addendum
Ratification

Chapter 5 ............................................................................................................... 31
Flipping REOs

Chapter 6 ............................................................................................................... 33
Setting Goals

Conclusion ............................................................................................................. 35

Reader Comments
"The very first time I looked in the newspaper I found a property that fit your description, "bread & butter." I immediately contacted the owner who said he was interested in selling. "After two days we closed and I netted $31,463.12 on my very first deal. I cannot believe how easy this is. Your books have changed my life.”
Derek O'Leary
Bloomfield
New jersey
"When I first read your preforeclosure course I wasn't sure I could do it. So far I have bought 4 houses and made $11,650, $12,500, $8,660 and $6,300. Your course should be used by anyone who wants to make a lot of money.“
Karen De Loy
Hyattsville
Maryland
"I purchased your book about 2 years ago and have made a ton of money utilizing your techniques. In my most recent transaction, I put the property under contract with $1 as my earnest money deposit and the owner and his ex-wife each $500. I flipped the property within a few weeks to another investor for a net profit of $11,214.40. Not bad for about 6 hours of work.”
Stanely Marshall
Marietta
Georgia
"I bought your book a few years back. I used a technique in your course. Funny thing is, I used no money to secure a few deals I did. I have made money many times using your methods. I would like to thank you for getting me started."
Clyde Gray Jr.
Dorchester
Massachusetts
"I began on this journey on a full-time basis in January and just got my first deed to a property. It was a text book case – a vacant property in the foreclosure process, owner who abandoned the property is living in New Mexico and had to be tracked down (unlisted phone number, etc.) and best of all, she turned over the deed for $100 just to be done with the whole thing. My investor and I will realize about $20,000 apiece upon sale after all expenses are taken care of. Not bad for a first deal!!!”
W. Davis
Philadelphia
Pennsylvania
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