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The New Foreclosure Boom and How to Find Cash Buyers on Autopilot

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on Thursday, 18 September 2014
BestTransactionFunding

America is warming up to a new foreclosure boom. So where is the unlimited funding for wholesaling higher volumes of distressed property deals? How can new cash buyers be found for your list, on autopilot?

Out of the Shadows… New Wave of Zombie Foreclosures On the Loose

Real estate entrepreneur Brecht Palombo recently packed his family up in a metal RV and hit the road, heading from New England, to the West Coast, in hopes of making it to British Columbia.

He’s not a survivalist escaping the walking dead, but a member of a new tribe of location independent real estate CEOs. Armed with a 20GB mobile data service, Bank Prospector software for tapping into non-performing mortgage loan statistics, and having put his real estate business on autopilot Brecht is on a yearlong exploration of US real estate markets.

So far he has uncovered libraries with blazing fast Wi-Fi hotspots, obsolete commercial real estate obstacles, mountain biking trails built by the Army Corp of Engineers, and is surveying large swathes of the $250B in defaulting mortgage notes and REOs held by US banks.

While the media is just beginning to catch a glimpse of the tip of the iceberg of this new wave of foreclosures, there is far more distressed property inventory behind the scenes for aggressive real estate wholesalers to bank on, if they are willing to reach out and make the effort.

Several New York towns have turned to tearing down thousands of zombie foreclosures to makeover neighborhoods. The Palm Beach post just reported new foreclosures rising by 74% in August 2014, even though FL is pegged as one of the strongest investment markets in the country.

In order to land more wholesale deals Brecht advises “The best way to succeed in this game is to get yourself informed about the challenges and opportunities with the lender by reviewing their reports. Next you call in at as high a level as you can muster and you have a real conversation about what you see. After that you let them know how you can help and you do it persistently. I go in depth in the academy (DistressedPro.com) with what a good prospecting plan looks like, what's important to banks, how to identify the right ones etc. When you're informed you'll spend less time prospecting and more time working with real decision makers doing deals. Blind prospecting and uninformed cold calling is about the worst business plan there is in today's environment.”

Creating Your Own Mobile ATM: Access Unlimited Cash and Cash Buyers

There is no shortage of cash or cash buyers in the current US real estate market. CoreLogic recently reported South Florida transactions were now almost 60% all cash. More individual and institutional investors are experiencing increased liquidity as they turn to fixing and flipping houses versus buy and hold, to benefit from recent rises in equity and avoid property management drain. New reports have also shown that nonprofits are hungry for deals after having been blocked from buying at foreclosure auctions by big for profit equity funds.

BestTransactionFunding.com provides unlimited funding for wholesalers need Proof of Funds letters and acquisition cash for back to back wet closings. Wholesalers may also benefit from hooking up their buyers that need financing with new lenders like B2RFinance or RentalHomeFianncing.com which provide long term end financing and credit facilities for buying and holding rentals.

While there may be no lack of cash or wholesale deals to be done those investors that want to still be able to enjoy the freedom and rewards will find using the web and tech tools essential. Mr. Palombo recommends ensuring you are using a professional email address, and harnessing the power of email marketing, while The Agent Institute just launched a new PPC coaching program and series of free videos on using Google Adwords for marketing for buyers on autopilot.

In summary; there are no more excuses for not enjoying more mobility, freedom, finding distressed property deals, cash buyers to flip them to, or the money you need to hit your goals…

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