Buying foreclosures for pennies on the dollar from banks

     Everybody that is looking to buy a foreclosure is trying to get a great deal, right?  That’s the goal at least, and a lot of people are finding it frustrating to actually find the "deal" hidden amongst the overpriced dreck that’s saturated the market.

    What most people don’t realize is that the opportunity to buy wholesale foreclosures DOES exist, if you know where to look.  People CAN and ARE buying for as little as 36% on the dollar for foreclosed homes.  The challenge in doing this successfully is two-fold:

1) They’re not selling properties off individually this way.  This is a concept for investors, willing to spend millions or even billions at a time

2)  There are a lot of people claiming to have a viable product to sell.  The lists, also known as "bank tapes"  are difficult to legitimately find.  The risks are numerous, and it’s hard to know if you’re dealing with genuine individuals or not.  The last thing you want to find is that their "tape" has secondary loans, credit card debt and other misrepresentation.

    I’ve been working for months now to try and find genuine sources of product for buyers.  We’ve met with some success, and plenty of inconsistency, false product, and other shenanigans.  Finding a legitimate source of homes for sale in this manner can be a goldmine for a buyer.

    Consider it like this:  If you have $20m to spend on foreclosures in bulk, and you can buy them for $.45 on the dollar, taking on the task of reselling them, even at only 80% of market value can potentially earn a huge return on your money.

    I’ve been able to find legitimate sellers, if anyone is interested in finding legitimate bank tapes and platforms, give me a call and I can put you in touch with them.  Or, if you have any questions about what the process of buying property this way consists of, I’m always more than happy to answer them for you.

~Jonathan Benya

Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-653-8116
Waldorf and Southern Maryland Real Estate
www.teambenya.com