In this edition of Broker and CEO of Choice Home Mortgage Greg Toussieng’s REO Listings Feature, the seasoned expert shares the top resources for finding an REO for purchase:
So, you want to purchase an REO. As a seasoned Broker in the industry, Greg Toussieng certainly can understand why you would be interested in REO listings. The profit potential of these properties is often well-worth the investment. With the right insight and guidance from a RESNET REO Certified Professional, you can draw together the finances and planning power to make the purchase of an REO property truly worthwhile. That’s why Toussieng is here to help! Fully RESNET REO Certified, the professional is up-to-date on the latest (and greatest!) places to find your next property purchase. The following are his recommendations of where to start:
Connect with a RESNET REO Certified Professional
RESNET REO is a powerful tool utilized by REO investors, professionals in the industry and parties interested in selling off their recently acquired and/or updated properties. A professional on this network is most likely familiar with the process overall. These individuals are typically seasoned professionals in the industry of buying and selling properties. Greg Toussieng is certified within this network and enjoys extending his knowledge and expertise to anyone interested in diving into this territory of property management. Toussieng and his team can assist you in the process of locating available REOs and in the much greater value experience of determining what your profit margins are within a certain purchase. The best part is, Toussieng and team can even notify you of qualifying lots and buildings, before they hit the market!
Search Public Property Listing Websites
Without the assistance of a professional who specializes in REO properties, you can still conduct your own research. While Greg Toussieng’s guidance is invaluable, you might want to take a look at the options available in your area before taking any steps forward. Toussieng recommends checking out the MLS (Multiple Listing Service), bank websites and public records. All of these resources will be able to isolate searches on recently foreclosed properties, which are likely to qualify for this type of purchase.
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