Broker price opinion to weather the storm?
Honestly? That's your choice?
Listen up. If you're a realtor, you need to listen to me. I am a broker so I get it. As an agent, you might as well have gone into hibernation the last few yrs. My team of buyer agents has made very few sales and even then can close on a small percentage. 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. Everyone is saying this market was unforeseeable. That's not true if we're honest with ourselves. We knew that third quarter late pays for 2006 were a record breaker.
Like everyone else, I thought broker price opinions were a great option to ride out the storm. The more I considered it, however, the more I found problems with it.
The first problem is the big lie. No, you won't get listings from banks for doing bpo's for them.
Next, you don't really make anything when its all said and done.
And of course there just aren't enough bpo requests to make the kind of cash that you really need.
As a realtor, your skills are not exactly an excellent resumee stuffer. The good news is that I do have a real option for you. An option that makes really big money. A lucky discovery has a led to a money making system that is perfect for realtors and can make you crazy income.We're talking huge money. And the money is created at foreclosure auctions. Let me take a step back, first.
All this started in '05 when an investor and I were deed flipping like mad. We had a situation where we had purchased a deed and thought we'd be able to flip the deed at the courthouse steps and make a good hit. Instead, we got no takers. In this instance, the only debt against the property was a single mortgage. Our research told us that the home was going to sell for far more than the debt at the foreclosure sale. 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. The bidder would save quite a bit because the home was bid above the total of the deed cost and the payoff of the mortgage. We couldn't sell the deed at the foreclosure sale. Of course we had the option of paying off the mortgage and owning the home outright.. We had too many irons in the fire. We let the deal go and then opened up the file to see what happened in these situations.
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. After some inquiries, we found out that this was the norm. 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. Finally, after asking the right question we got the list for the county. And it was crazy money.
After more research, we figured out how to get around finder laws and make much more money.
Don't delay. Click the link directly below:
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"Knowing is not enough; we must apply. Willing is not enough; we must do."
Johann von Goethe
The secret of success is constancy to purpose.
- Benjamin Disraeli
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