Hi everybody from www.cheapREOhomes.com

[SweetHomeSeller]

Hi everybody. My name is alex and I am a Virtual Real Estate Investor . Specialize in REO/ Bulk REO properties but also do Short Sales, Lease Options, etc. You name it - I do it and do it virtually - w/o leaving my home computer (Ask me how?)

Please contact me if you are looking for the investing ideas or looking to buy / sell properties in Florida, Geargia, North Carolina and/or Utah.

[jackjeffries]

Hi everybody. My name is alex and I am a Virtual Real Estate Investor . Specialize in REO/ Bulk REO properties but also do Short Sales, Lease Options, etc. You name it - I do it and do it virtually - w/o leaving my home computer (Ask me how?)

Please contact me if you are looking for the investing ideas or looking to buy / sell properties in Florida, Geargia, North Carolina and/or Utah.

Hi alex,

Welcome to the forum! I'm interested in learning about how to become a Virtual Real Estate Investor. I'll be following your posts to see how you do it. I'm promoting a new product that will be released soon which will go into some strategies in detail as well. It seems like a very profitable time to be in your line of work!

[Jenie0109]

"Virtual Real Estate Investor" - WOW! That's something new.
Ok I will be asking you now - "How?"
Welcome to the forums BTW

[philippine_real_estate]

Hi alex welcome to real estate forum it's nice to have you here hope you share some info on how to become a successful Virtual Real Estate Investor like you..

[SweetHomeSeller]

I know - this is a stupid quote - I do not even remember where it's from. But anyway - Virtual Real Estate Investing - this is the internet technology being applied to the buying and selling Real Estate.

According to the latest poles - 75%-80% people who began looking for house to buy started their search on the Internet. This is incredible phenomena that many web enthusiasts interpreted as the sign to optimize their web sites in the way that when buyers start their search (let's say on Google) the result will bring their listings and above and before anybody else.

Well this is just one (but the most obvious aspect) of the Virtual Real Estate Investing. In short: the business of Real Estate is the Marketing Business. Hence add the Internet (and Internet Marketing) and you get Internet-based Real Estate business.

In the nut shell any investing consists of that old adage "Buy Low and Selll High". So all you do is you buy low on the Internet and sell high on the Internet. Very simple transition but the result is nothing less than Spectacular.

Just think of it - almost all MLS listings (for all states) are accessible on the web. All you need is the computer with the Internet connection and the phone (which BTW can be eliminated by using Skype on your laptop)

I am specializing in bank-owned properties (REO). Current economical conditions created incredible buyer's market in REO in many parts of the country. All (almost) REO properties are being sold through the real estate agents. Agents advertize these properties on MLS and other free (or almost free) websites (zillow.com, trulia.com, moveto.com, etc.)

I personally live in the area that has not been affected by the foreclosures (yet) but by virtue of the Internet - I can look for and find all kinds of bargains in the different parts of the country as far 2000 miles away from where I live (Salt Lake City, UT.)

I do my home work running comps on the property I find advertized, call the listing agent, ask a couple of questions about the property, and I am ready to make an offer. The rule of thumb is that I am looking for the properties that I can buy for 40% of the Retail Market Value or lower. And also, my offer to the bank never goes higher than the 82% of the asking price.

If i find the property that fits both of these numbers I make an offer. On average I make at least 10 offers a week. Most of the offers will be either ignored or denied or contra-offered with some really ridiculous concession. So this is a number game.

While I am looking for a deal I am actively advertizing for the potential buyers using cutting edge social networking tools (most of them are still free - Facebook, Twitter, MySpace, YouTube, Ning, etc.) Ideally I have a group of people who pays attention to what I do - my buyer's list - some cash buyers ready to buy - some just newbies and some retail buyers - people who need to buy a home for themselves.

Once one of my offers accepted and property is under the contract - I am contacting local realtors in the area (if I am totally new to the area) and have them do quick BPO inspection (cost $50 - $65) They fill out the checklist that I provide to them.

Meanwhile I send the property to my buyer's list as well as using multiple optimization techniques on my web site - to show up on the first page of the Google search so people who are looking for houses in this area are finding me.

The last piece in this puzzle is to get transactional financing so I can sell the property under contract to another investor or end-buyer in the course of the two distinct transactions but both happening on the same day. The transactional financing is when the Hard Money Lender lends you money just for one day and charges me 1%-3%. They do it without checking my credit or anything else as long as I have both the seller and the buyer.

My value proposition to the person who buys from me is that I negotiate with the bank the price down from the listed price. When I turn around and resell the property - it's obviously higher than my negotiated price (my profit) while it's still lower than price the bank originally listed for. Plus , I usually pay all buyers closing costs. So it makes more attractive for the buyer to get the property from me rather than circumvent me and go straight to the bank.

[COLOR=black][FONT=Verdana]This long explanation is still the short description of how I do things. The devil as you know is in details. However, most of the obstacles can be worked around. Yes, there are some seasoning issues with the FHA buyers

[tylerbabe]

I am Sandy from Turkey just introducing myself. I am trying to sell my apartment in Hisaronu Ovacik if any tip,s all welcome.

[whitesidest]

Welcome Tyler, you have picked a great online resource for information. Best of luck on selling your place.