212: Receivership Real Estate: The Hidden Inventory Only Experts Know About w/Jake Flothe
On The Market
Shownotes Transcript
When housing inventory) is low, where do you go? Foreclosure rates are down, short sales are a hassle, and the open housing market has barely any sellers—is there a better way to find deals? Yes! Enter real estate receivership—the hidden housing inventory that our own James Dainard has been using for years to get better deals than what’s on the market. How do they work, and what’s behind these discounted deals?
Attorney Jake Flothe works with receiverships daily and has seen the inside and out of these transactions that most real estate investors know nothing about. In short, receivership is when a court-appointed receiver takes control of a property in order to sell it to pay back creditors on the borrower’s behalf. This **alternative to foreclosure) and **bankruptcy) helps many real estate investors and everyday Americans escape a financial bind and can bring better properties to your investment portfolio).
Jake gets into the nitty gritty of why someone would go into receivership,** how to finance these discounted deals**, the vast benefits of receivership over foreclosure or short sales), what the bidding and buying process looks like, and the **one clause that could kick you out of an amazing receivership deal. **
In This Episode We Cover:
The hidden inventory of “receiverships” that most investors have no idea about
Why receivership real estate may be an **even better deal than foreclosures **
The** bidding process and how to start putting in offers** on these discounted deals
A BIG reason why foreclosures are down and receiverships are “ramping up”
One clause that could completely** ruin your receivership deals **
Why YOU may need to **consider receivership if your deal goes sideways **
And So Much More!
Links from the Show
Join the Future of Real Estate Investing with Fundrise)
Connect with Other Investors in the “On The Market” Forums)
Subscribe to The “On The Market” YouTube Channel)
What is a Foreclosure? The Complete Guide)
HousingWire CEO: This Inventory Shortage Could Last Decades)
Connect with Jake: Jake's LinkedIn) Jake's Website)
Jump to topic:
(00:00) Intro
(01:50) What is Receivership?
(06:05) Can You Finance It?
(07:40) Better Than Short Sales?
(11:54) Bidding and Buying
(16:36) Receivership is “Ramping Up”
(21:20) The “Bump” Clause
(23:33) Fewer Foreclosures?
(24:36) How to Buy Receivership Properties
Check out more resources from this show on BiggerPockets.com) and https://www.biggerpockets.com/blog/on-the-market-212)
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