The whole time I've been watching the active agents roster fall, thinking there would be a point where you could make a good living again. The point was that even a tiny buyer pool could sustain a tiny broker pool. We could have seen this coming. We all chose not to.
Like everyone else, I thought broker price opinions were a great option to ride out the storm. They are not what you think, though --
1. Doing price opinions for reo's will not result in you getting any listings from that bank.
2. Factor in your time and expense, and you're making less than you would in a part time job.
3. Even with the number of foreclosures now and coming up, you can't make a living with this.
As a realtor, your skills are not exactly an excellent resumee stuffer. Well, I have your answer. A lucky discovery has a led to a money making system that is perfect for realtors and can make you crazy income.The shocking truth is that the funds are a result of mortgage foreclosures. Let me take a step back, first.
In 2005, my investor friend and I were doing an amazing amount of deed flips. My investor and I bought a deed from an owner just before foreclosure. We were going to later sell the deed to an investor at the foreclosure sale. For the first time ever, no one bought the deed. In this instance, the only debt against the property was a single mortgage. The property was going to sell for quite a bit more at the auction. The point was to sell the deed to one of the bidders. That bidder would then be able to redeem the deed for just what was being foreclosed upon and own the property. This would save the bidder a lot of money. Because the payoff and what they paid us totaled less than the total bid on the property. No one wanted to buy the deed. We could've simply redeemed the deed and owed the home for the deed owed.. But we were stretched on other deals. So after the foreclosure we checked the file to see what happened.
What we found blew our minds. The property had sold for way over the debt. The surplus funds were sent by the foreclosure attorney to the county courthouse book keeper. We soon were told that the clerk always ended up with the overage. Further inquiries revealed that, as the deed holders, we were entitled to the funds.
We had paid $3,000 for a deed and now could collect $50,000 for our trouble. WHUT!
As you can imagine, this got us pretty fired up. We spent the next few weeks trying to get a list of all the surplus funds that the clerk had collected. After an incredible amount of dead ends, we got our hands on the list. And it was a really big list.
After more research, we figured out how to get around finder laws and make much more money.ey.
Don't delay. Click the link below:
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"Every time I learn something new it pushes some old stuff out of my brain." - Homer Simpson
Entrepreneur. Home Investor. Innovative
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