InvestFourMore Real Estate Podcast
About This Show
The InvestFourMore Real Estate Podcast is hosted by Mark Ferguson, a successful real estate agent and investor. Mark owns 16 rentals, flips 10 to 15 homes a year, and runs a real estate sales team of ten. Mark also created Investfourmore.com, a real estate blog that gives advice and chronicles his investing.
On the podcast Mark interviews successful investors, successful agents, and many other people who are in the real estate business. Mark also does solo shows where he goes in-depth on his own real estate investing and strategies like switching his focus from Colorado for rental properties to Florida. Mark also interviews new and beginning investors. This practice allows a new investor to get direct advice on how to get started, how to overcome roadblocks and helps the listeners as well.
Mark has been featured on the Washington Post, Time, Yahoo, Zillow, Realtor.com, Huffington Post, and many more major media outlets. Mark has written multiple best-selling paperback and Kindle books and loves hearing from his listeners and readers.
Most Recent Episode
078 How to Buy REOs, Short Sales, and HUD Homes
4 days ago
On this episode of the InvestFourMore Real Estate Podcast, I discuss how to buy distressed houses. The market may be hot in many areas of the country, but there are still great deals out there. If you can learn how to buy REOs (bank foreclosures), Short sales, and HUD homes it will give you a competitive advantage. I have been a listing broker for REOs and HUD homes since 2008, so I know a fair bit about how to get good deals with them. There are many different strategies for how to make offers, when to make offers, and when investors can buy these homes. What are REO properties and how can you buy them? REO stands for real estate owned and is the term most banks use for their foreclosures. When a borrower gets behind on their payments, the bank can take possession of the home by foreclosing on it. Once the bank completes the foreclosure process the, bank owns the house. Before the bank can take possession most states have a foreclosure sale that is conducted by the sheriff, the trustee, or a court. The general public can buy homes at these sales, but it is very risky. I talk more about buying at foreclosure sales here. Once the bank take possession of a foreclosure they call it a REO. They assign a REO real estate agent to list and sell the property for them. Many investors ask me how to buy REOs before they are listed so that they can get a better deal. Unfortunately, 95 percent of banks will not sell their REOs before they are listed except in giant pools. Some banks and HUD will sell thousands of homes at once to large hedge funds or institutional buyers in pools of properties. If you are not buying hundreds or thousands of properties at once, you have to wait for REOs to be listed in order to buy them. Once a REO is listed, many of the banks have put in place rules for who can buy them and when. Many banks like Wells Fargo, have owner occupant only periods. That means only people who are going to live in the home can make an offer in that period, which may be the first 10 days of the listing. Once that period is over, investors can bid on the homes. Once investors can bid, I would submit an offer as soon as you can. In some cases the listing agent will let you submit an offer during the owner occupant period and they will submit it as