How to Start Your REO Business

If you are wondering how you can start earning from the real estate industry, then think REO. REO stands for Real Estate Owned. These are the properties that were not sold in the short sale. They were not also sold at the foreclosure auction.

This becomes part of the lenders inventory of REO foreclosed properties. The number of foreclosed properties continues to rise.

Many have also chosen to foreclose their properties because they are upside down in their mortgage. The problem with this is that lenders are not trained to neither maintain nor sell properties. If they do not sell these properties, they will not recover from their losses. Starting the business: Before you start your REO Business, grab a copy of the REO Boom.

This is a book written by Aram and Tim Shah. They have carefully laid out all the information you need to know to start the business. You will even have a copy of an action plan that will guide you to get started. Aside from REO listings, you will also learn about different strategies to start earning and continue earning from the market. It would be ideal to link yourself with an asset manager. They compile information on REO listings. Getting hold of the listings will be a great start for your business. Make sure that you master the different ways to earn from the business. This includes BPO, property preservation and selling.

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