Build Your Vetted Cash Buyer And Motivated Seller List
Don't Be Afraid Of The Bank
It’s absurd to be afraid of banks because they are your partners. Relationships in real estate are key. With social media, you can connect with banks and interact with them on a daily basis.
You should not have an us versus the bank mentality.
Investors love to talk about how they are “robbing the banks”. If you believe that you are “robbing the bank” because the return you earn on your investments is higher than the interest rate on your mortgage you are mistaken. Banks provide the mortgages to your investments. If you don’t pay you will be foreclosed.
You are the bank’s customer. Banks need some mortgages to be paid because that is how banks make most of their money. Banks are lenders. Show banks that you can pay them back.
You are in business with banks. One of the best ways to source real estate deals is with banks. Bank deals are called REO. Mention to Asset Managers that you can help them out with REO. Find buyers for banks. Sometimes banks deal directly with their own buyers, hire REO real estate agents, and use listing websites. Build relationships with banks, close big deals, and bring your deals to the Flock if you run into Daisy Chains and Tire Kickers.
How have you built relationships with banks?
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