America is warming up to a new foreclosure boom. So where is the unlimited funding for wholesaling higher volumes of distressed property deals? How can new cash buyers be found for your list, on autopilot?
Out of the Shadows… New Wave of Zombie Foreclosures On the Loose
Real estate entrepreneur Brecht Palombo recently packed his family up in a metal RV and hit the road, heading from New England, to the West Coast, in hopes of making it to British Columbia.
He’s not a survivalist escaping the walking dead, but a member of a new tribe of location independent real estate CEOs. Armed with a 20GB mobile data service, Bank Prospector software for tapping into non-performing mortgage loan statistics, and having put his real estate business on autopilot Brecht is on a yearlong exploration of US real estate markets.
So far he has uncovered libraries with blazing fast Wi-Fi hotspots, obsolete commercial real estate obstacles, mountain biking trails built by the Army Corp of Engineers, and is surveying large swathes of the $250B in defaulting mortgage notes and REOs held by US banks.
While the media is just beginning to catch a glimpse of the tip of the iceberg of this new wave of foreclosures, there is far more distressed property inventory behind the scenes for aggressive real estate wholesalers to bank on, if they are willing to reach out and make the effort.
Several New York towns have turned to tearing down thousands of zombie foreclosures to makeover neighborhoods. The Palm Beach post just reported new foreclosures rising by 74% in August 2014, even though FL is pegged as one of the strongest investment markets in the country.
In order to land more wholesale deals Brecht advises “The best way to succeed in this game is to get yourself informed about the challenges and opportunities with the lender by reviewing their reports. Next you call in at as high a level as you can muster and you have a real conversation about what you see. After that you let them know how you can help and you do it persistently. I go in depth in the academy (DistressedPro.com) with what a good prospecting plan looks like, what's important to banks, how to identify the right ones etc. When you're informed you'll spend less time prospecting and more time working with real decision makers doing deals. Blind prospecting and uninformed cold calling is about the worst business plan there is in today's environment.”
Creating Your Own Mobile ATM: Access Unlimited Cash and Cash Buyers
There is no shortage of cash or cash buyers in the current US real estate market. CoreLogic recently reported South Florida transactions were now almost 60% all cash. More individual and institutional investors are experiencing increased liquidity as they turn to fixing and flipping houses versus buy and hold, to benefit from recent rises in equity and avoid property management drain. New reports have also shown that nonprofits are hungry for deals after having been blocked from buying at foreclosure auctions by big for profit equity funds.
BestTransactionFunding.com provides unlimited funding for wholesalers need Proof of Funds letters and acquisition cash for back to back wet closings. Wholesalers may also benefit from hooking up their buyers that need financing with new lenders like B2RFinance or RentalHomeFianncing.com which provide long term end financing and credit facilities for buying and holding rentals.
While there may be no lack of cash or wholesale deals to be done those investors that want to still be able to enjoy the freedom and rewards will find using the web and tech tools essential. Mr. Palombo recommends ensuring you are using a professional email address, and harnessing the power of email marketing, while The Agent Institute just launched a new PPC coaching program and series of free videos on using Google Adwords for marketing for buyers on autopilot.
In summary; there are no more excuses for not enjoying more mobility, freedom, finding distressed property deals, cash buyers to flip them to, or the money you need to hit your goals…
"I want thank you for the excellent service I received from Best Transaction Funding.The quick response I received from your company from the beginning of the transaction and to the end was unbelievable. I also want to give a special compliment to you as well. You went to great lengths to keep me informed and gave my title company all the information they needed to complete a successful closing. I cannot express how thankful I am. Such service builds great working relationships. I will definitely recommend Best Transaction Funding to all my fellow investors. Thank You."
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"....a few months back, I happened upon a video, on your site, regarding the use of transactional funding with Hud properties; and I found myself replaying the video over and over because of the value that I saw in the message...it actually explained the process, step-by-step on how to submit a Hud deal by using transactional funding. Once I completed the video, my initial response was to take immediate action by duplicating what I had learned from the video into real time. So I did some research on properties in a market where I knew I had buyers; and put together a hud deal. I then located a realtor able and willing to submit my bid online and within a couple of days, to my surprise, received a call telling me that I had won – my very 1st Hud bid."
"To you I say, ”KUDOS to Best Transactional Funding and Thank you for providing the education and services to Real Estate Entrepreneurs like me. Please keep up the good work!'"
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"You each deserve high marks for your wonderfully quick response time to each of our questions and requests! You hit home runs with us! Your application system was easy to use. Our deal met your qualifications and every time Rob Kozak or any member of Mystic Properties, LLC phoned, we received a "real" person dialing back to speak with us.
Your patience and persistence were exceptional in dealing with our business interests. Thank you for such great customer service! We look forward to working with your staff, again, in the future. We like referring people to you, as us, our team would have missed-out on an excellent earning opportunity.
Your help negotiating with our title company made our back-to-back deal, finally happen. People noticed on settlement day how effectively and efficiently your part of the transaction was organized and executed. Again, thank you for truthfully being the "BEST" at what you do!"
- Diane McAdams, Mystic Properties, LLC, Real Estate Investor, Pennsylvania
"Boy, you guys are impressive! I can’t thank you enough for scrambling and getting my deal done at the last minute like that. You and your team were awesome!"
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- Ericka B., Real Estate Investor, CA