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Effective Strategies for Acquiring Real Estate Through Financial Institutions

Hello Ring Members,

Do you know how to get some good deals by working with local banks, credit unions, and finance companies?  These smaller lenders are a lot easier to work with thanthe big banks.

If you understand their needs and challenges, and the limitations they have to workaround you can offer them very attractive solutions to their problems.

Depending on which stage of the foreclosure process a property is in, you may beable to work a short sale or buy the defaulted note, or buy the property directlyfrom them if they have taken it back.

Remember that they are not in the real estate business, they are in the lendingbusiness.  So your expertise could help them out of a tight situation and putyou into a profitable opportunity.

Our monthly meeting is coming up on the 2nd Tuesday of November!

That's going to be on November 12, 2013. 

Our guest speaker this month is a Fellow Ring Member, Longino Richardson.  Gino served as a bank officer dealing with defaulted loans at a local Louisiana lender and has first hand knowledge of how and who to speak with.

Here is some of what he will cover:

  I.  Financial Institutions        a.  Developing Relationships        b.  Understanding and being empathetic towards their position        c.  Negotiating, timing, and how it impacts their decisions

 II.  Pre-foreclosures        
        a.  Collection activity/Notice of Default
        b.  Short Sale Opportunity
        c.  Being in position as an investor to act quickly

III.  Foreclosures       
        a.  Understanding the impact on the lien holder
        b.  Sheriff Sale
        c.  Opportunity for sneak peek at property before it goes to market

IV.  Post foreclosures (REO)       
        a.  Additional fees at stake during this stage
        b.  Open competition
        c.  Monitoring activity, placement and adjustment of offers as necessary

 V.  Establishing a Game Plan       
        a.  Targeting specific institutions
        b.  Develop a niche
        c.  Effective Follow up

Mark your calendars for Tuesday, November 12th.

Here are the details...  

Tuesday, November 12th at 6:30pm!

We'll be meeting at Burk Baker School of Real Estate on Sherwood Forest Blvd.

Burk Baker's School of Real Estate
2834 S. Sherwood Forest Blvd. 
Baton Rouge, LA 70754

Happy Investing,


Richard McCray
Organizer, The RING
Real Estate Investor Network Group

Join or login to comment.

  • Brandon C. G.

    I left early because I was not aware of the $5 admission fee, but what I did see was very organized and professional. Next time I am able to attend, I will be sure to come early and bring some cash.

    November 13, 2013

  • Alison E.

    Hey everybody, this was my 1st meeting. I loved it! I look forward to getting to know each and every one of you. Thanks Richard for organizing this group. Also big thanks to Gino...great info!!!
    I am a CPA here in Baton Rouge specializing in the field of tax.
    I am interested in partnering with someone to wholesale reo properties. What I can bring to the table is doing the research to find great deals, making the offers and finding a buyer. I spend hours & hours researching properties and can identify money makers. I can run the numbers for return on investment, net profit, rental income, tax advantages, and more!
    If you are interested in discussing a joint venture with me please call Ali @ [masked]

    Alison Edmonson

    November 13, 2013

    • Savalas N.

      Alison, We are very interested in a potential partnership. I will give you a call on tomorrow.

      November 13, 2013

  • Savalas N.

    Hi everyone, my name is Shannon R. Williams and I can put your scope of work together for a small fee in a short amount of time. You can contact me via email or by phone. I can also hello you find and interview contractors. Thanks [masked][masked]

    November 13, 2013

  • Chance D.

    Geno had some great info!

    November 13, 2013

  • Richard M.

    Fantastic turnout and great discussion on understanding the motivation of lenders with non paying mortgages and how investors can play a vital role in helping them solve their pain.

    2 · November 13, 2013

  • Robert L.

    As usual, very informative!

    November 12, 2013

  • Malcolm S.

    Very effective and informative presentation. In that I am just starting out, I found it to be a rewarding experience to meet other novices as well as the seasoned investors.

    November 12, 2013

  • Savalas N.

    Very good information, thanks again.

    November 12, 2013

  • Mathew L.

    Hi Everyone,

    I left the meeting early tonight, but then returned at the very end. I know there were a few people that I wanted to talk to, but I missed them. If any of you have interest in one of the deals listed below please contact me at[masked] or [masked]. All the deals below are in low income areas, distressed, and bank owned (or about to be).


    Deal 1) Duplex in New Orleans off of Elysian Fields

    Deal 2) Three different apartment complexes in Opelousas (they can be purchased separately)

    Deal 3) A portfolio of 14 single family homes scattered throughout North Baton Rouge

    Mathew Laborde, CCIM

    Beau Box Commercial Real Estate
    8710 Jefferson Hwy
    Baton Rouge, LA 70809, USA

    Broker of Record, Beau J. Box
    Licensed by the Louisiana Real Estate Commission, the Mississippi Real Estate Commission, and the Alabama Real Estate Commission

    1 · November 12, 2013

  • Robert L.

    Last minute invite, some of us are going to do a walkthrough of a property for sale at 3312 Toulon Dr, Baton Rouge, LA at 4:00PM and then we'll grab a coffee or a sandwich at Starbucks on Sherwood Forest Blvd at about 5:00PM. All locations are right around the meeting place for the meetup and anyone is welcome to join us.

    November 12, 2013

    • Savalas N.

      Shannon and I may just come and meet you at the property today.

      1 · November 12, 2013

    • RaShaan Rush G.

      On my way

      November 12, 2013

  • Delaria W.

    Smaller lenders are much easy to deal!

    November 11, 2013

  • Alex H.

    We have made attempts to buy real estate from Banks but, ifthey have insured FHA Loans that may be impossible.Smaller Lenders
    lenders may have a need to deal. However the speaker at the new meet up may have more industry knowledge, as I have been out of the industry since about 1990

    October 29, 2013

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