Written By: Karen Deis with Toni Honer
There has been a lot of talk about real estate investment clubs, why loan officers should get involved, and seminars on how to start a club yourself. What I’ve found is that those LO’s who are involved in investment clubs, don’t practice what they preach--they don’t buy real estate—they just talk about buying it!
Okay! Maybe the right deal just hasn’t come along, but with HUD Home offerings and thousands of foreclosed properties auctioned every day, you’d think….
If you are looking to diversify your income and not rely soley on commissions as your sole source or revenue, read this interview on how one loan officer took advantage of knowing the local real estate market, and created an investment club that only buys homes at real estate auctions.
What makes this interview especially worth reading is that this investment group, with a loan officer taking the lead, has participated in an estate auction; a mega-foreclosure auction and the phone-in-a-bid auction. They share both their successes and mistakes.
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