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Optimal Practices for REO Liquidation Jesse Loomis CEO, Bid4Assets, Inc.
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Multi-Faceted Marketing
There are many ways to transact real estate: Real estate agents Online auctions (Bid4Assets, eBay, etc.) Live auctions FSBO / Your own REO sales team Internet marketing (Zillow, Craigslist, etc.) Flat Fee MLS listings Bulk sales Owner-financing
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Bid4Assets.com Auctions
Auction types Absolute Auctions - $1 Minimum Bid & No Reserve Non-Absolute Auctions Higher Minimum Bid Reserve Price No fees to Sellers *NTLA members pay no listing fees *Buyer’s premium passes on completion fee to buyer
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Agents, Auctions, or Internet Marketing?
Yes, yes, and yes! Use a fully integrated approach and have a “race to the buyer” 3-Pronged Approach: Higher minimum bid auctions on Bid4Assets Agents feeding offers (pocket listings, DispoSolutions) Real estate ads (Zillow, Craigslist, LandWatch)
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The Good, the Bad, and the Ugly
What’s the difference between a good auction vs. a bad auction? Good pictures and GIS imagery The “right” property data Appealing description Logical pricing strategy Easy process and terms
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Tax Deed Investing What are the key things to research when bidding on tax deeds? Status of title (what isn’t expunged, quiet title needed?) What exactly is the property? (reportallusa, taxdeed360) Development potential (access, zoning, gradient, utilities) What’s it worth? Zillow, realtor.com, Bid4Assets power search What’s your exit strategy?
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Tax Deed Ethics A few tips for selling tax deed ethically:
Occupied properties: houses vs. homes Blighted properties: buyers who will restore properties & pay taxes Accurate descriptions: make sure buyers understand what they are getting Deeply underwater? Consider donating property
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Chief Executive Officer
Questions? Jesse Loomis Chief Executive Officer Bid4Assets, Inc. (301)
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