Bank owned properties can be bought for as little as 15% and then she wholesales them to other investors who rehab them and rent them for cash flow or sell them to retail buyers getting a nice profit themselves. In this type of activity it is crucial to buy low enough and that you check upfront how easy it will be to resell the property.

Working as a wholesaler includes selling more and more times to the same buyers and therefore one must make sure that he provides deal that make money also for the next investor stepping into the deal and that the second investor is able to get them sold fast enough.

The general rule is to NEVER offer more than 82% of the asking price, no matter how low it already is, and rather try to close deals that are in the 15 – to 25% range of current market value, if you plan to wholesale the deal, even to overseas buyers.

Sandra Negron has been operating so far on the Florida market, which is pretty rich of bank owned properties anyway, but now is ready to move also to other states using the system learned from Mark Jackson and Sam Bell on their Virtual REO course.

She is one of the top students of Mark and Sam and she has been invited to the special investing cruise to the Bahamas where she has refined her skills in virtual investing to the point of being able to locale properties and evaluate them directly on the ship and then make offers.

Roberto Mazzoni

P.S. This interview was done for the benefit of my Italian investors who will be using and following VREO. IF you want to know more about the system and its application to international sales, subscribe to this site!

Here we are with another of the top student of the Virtual REO program created by Mark Jackson and Sam Bell. She is from Texas and she has just left a cruise ship where, while sailing between Miami and Nassau in the Bahamas, she has learned how to select bank owned properties from the Web, how to make offers on them and how to automate her business once she will be back home.

She has been a part of a lot of mastermind groups and she says that this was exceptional. So much clarity on the thing that she has been learning that she is just ready to go and become the best REO investor in her area. It was the best ever experience for her.

Virtual REO is a method for locating the best bank owned properties on any market, to evaluate them a compared to their market and to make offers that will produce the lowest possible acquisition costs, while have the maximum upside potential in selling. The whole process can be done from a computer via the web and, as demonstrated in the cruise, anyone can perform the selection, the evaluation and even the first steps of negotiation while being on the sea, far from the location where the property is.

I am personally studying the system right now, so to make it available to Italian investors who want to operate in the US, and I find it very easy to understand also thanks to the availability of 16 video lessons that show every aspect of it in a simple and direct way. And Mark Jackson and Sam Bell are simply the best: very easy to deal with, very responsive, very, very competent in their field.

Roberto Mazzoni