Marco Kozlowski
In order to create wealth in real estate, investors seek to find properties that can be purchased well below market value. One of the best ways to do just that is to purchase REOs!
REO stands for "Real Estate Owned" by banks and other lenders. In these cases, the property was foreclosed and went to auction, but did not sell at the auction. At that point, the lender becomes the owner of the property and can sell it to investors!
Why a profit possibility? Because lenders are not in the business of real estate rental or property management. They want to loan money and not to become property managers... They are in many cases receptive to a low offer from serious investors who can be trusted with the new mortgage.
