Hi. My name is Clay and I’m a reality TV addict. Survivor, Shark Tank, The…
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In today’s challenging real estate market where 30 offers on homes out here in Victorville, CA is the norm, (and I’m sure the same applies all over the United States) we need every little bit of information to help our offers stand out from the crowd.
I have made countless offers on REO properties including Freddie Mac deals, and these tips reflect my experience in dealing with them. These are the things that Freddie Mac always counters with and always wants flat out.
When making an offer to purchase a Freddie Mac or Home Steps owned property you should try and follow these guidelines to help your offer stand out from the crowd and help you save a day or two in negotiations with them.
The Top 20 Tips for Making offers on Freddie Mac, Home steps or FHLMC Properties
I was at an investor’s meeting not too long ago talking with a young, idealistic, newbie investor who brushed off one of my real estate suggestions and told me he was looking for passive income. He wanted -in short order- to work only 4 hours per week. Ahh, yes, the fabled four-hour workweek, I’ve heard of it so many times yet I’ve never actually known anybody who had one, not anybody making any money at least. I think it must be next to the pot of gold at the end of the rainbow.
I admit, I’m going a little overboard with the pot of gold bit, but it’s for a much-needed theatrical effect. To be fair, real estate is like any business and there are some investors out there who have worked hard, became successful and were able to build a system that they could back away from a little and turn more operations responsibilities over to others. Make no mistake, however, it took a lot of work to build that system.
When they say passive income they are usually talking about rental properties. They tell you to go buy a property. Rent out said property to a tenant who pays the mortgage and expenses and you keep the difference. Easy right? Maybe if your Donald Trump and you start out with a million dollars to put down and pay management.
Lets analyze a more realistic scenario.