How to Make Money As a Bulk REO Trader

Every day we hear more and more about how homes are in foreclosure and the failing markets, but there is money to by made. Familiarizing yourself with foreclosure and real estate laws can mean an opportunity to make money with properties in foreclosure.

There are three stages in regards to deal with a foreclosure. There is buying from a pre-foreclosure which is buying from the owner. If the owner can not sell the property it will next go to auction. When a property does not make it out of auction, it becomes bulk REO real estate owned foreclosure and can be purchased from the lender. Buying a real estate owned foreclosure has the least amount of risk when you are purchasing a foreclosure. A bulk REO tape will be a listing of several properties that a lender will want to sell.

Getting The Deal

One of the first ways to be able to get a deal is to develop relationships with banks and credit unions in your area. It will provide to be a good resource to have a relationship with one or two bankers in these types of institutions. It may take a while to develop this type of relationship but it is well worth to have someone you can work with. You will also need to have liquid funds that are easily accessible to prove to the lenders with the foreclosures that you are able to close on the deal at a moments notice. Bulk REO are very time critical real estate transactions.

Finding Buyers

The best way to find buyers is through referrals. Ask friends, neighbors, coworkers who their real estate agents were. If that agent doesn’t deal with a bulk REO they will know an agent who does.

Now is The Best Time To Invest in A Bulk REO’s

There is a record number of foreclosures in America at this time which opens the door for this remarkable opportunity.…

Los Angeles Estates & Luxury Homes – Location (1st in Series)

There seems to be growing international interest in Los Angeles’ luxury real estate market right now and asking prices have declined significantly since last year. Many prospective buyers may have only heard of the the famous communities like Hollywood, Beverly Hills, or Malibu that they are considering making their new home. This first in a series of articles is an overview of where you can find the finest properties for sale in Los Angeles.

When it comes to finding estates and luxury homes in Los Angeles, the old real estate cliche in the title holds true. While you’ll certainly find extraordinary luxury homes in all of the areas that will be discussed here, you can also find fabulous listings for these throughout the city. The art of finding great estates with an amazing compound and usable acre or more is easier to define because there are fewer of these magnificent properties and they’re usually grouped in specific areas.

There are two main areas where you’ll find the majority of Los Angeles’ exclusive residential listings. The first is a broad band that includes much of the Hollywood Hills and surrounding communities along the north end of the L.A. Basin which extends for fifteen miles from Griffith Park by Downtown, west to the Pacific Ocean. Predictably enough, the other area includes the beach cities from Malibu to Palos Verdes.

Since true estate properties require a lot of land and privacy, the largest estates are found in and around the hills from Los Feliz to West Hollywood, Beverly Hills, Bel Air, Brentwood and Pacific Palisades by the beach (Malibu is in a category by itself.) These luxury properties and full-blown estates are truly the epicenter of high end real estate in Southern California and there is no shortage of the spectacular, sweeping views from Downtown to the sea that Los Angeles is known for.

Opulent properties built during Hollywood’s Golden Era in the 1920’s & 30’s line the base of the hills and lower elevations, particularly in the older parts of town to the east around Griffith Park & Hollywood. This is also true of Beverly Hills and Bel Air, and there are several charming villages dating from the period along Sunset & San Vicente Boulevards to the west in Brentwood & Pacific Palisades.

Older styles of architecture found in these areas tend towards the Spanish and Mediterranean with a lot of other traditional styles from Chateau and Tudor, to Neo-Classical and Georgian mixed in.

Newer homes and estate properties which were built from the 1940’s and 50’s up to the present tend to dominate as you move farther west and up into the hills. More Ranch homes and cleaner modern and contemporary architectural styles tend to be found here, along with a generous helping of thematic eclecticism and over-the-top excess.

Mulholland Drive runs the length of the Hollywood Hills along the crest which separates these L.A. communities to the south, from the San Fernando Valley to the north. About 75% …

Nemours Mansion and Gardens – Wilmington, Delaware

Just outside Wilmington, Delaware, lies the largest mansion every built in the state. Nemours Mansion and Gardens, residence of the DuPont family, contains five floors of living space. At more than 47,000 square feet, the residence is a acre in size just under its roof. Adding to the beauty and size of Nemours are its grounds, extending another 220 acres, which feature a formal French garden modeled after Versailles.

Nemours Mansion

Following a $39 million restoration completed in early 2008, the Nemours Mansion and Gardens has been restored to its original glory, a mansion in the style of a Louis XVI French chateau. Originally the design of Carrere and Hastings (architects famed for the Frick Mansion in New York, as well as the New York Public Library) and built by Smyth and Son of Wilmington, Delaware, in 1909-1910, the Nemours Mansion’s 102 rooms are filled with French furnishings from the 18th century, as well as a stunning collection of artwork.

Included among those artists on exhibit at Nemours are British artist J.M.W. Turner and American artist James Peale, as well as American sculptor Frederick Remington. Other art objects at Nemours include work by Tiffany and Limoges. Added to these treasures are many more tapestries, statues, paintings (some dating back as far as the 15th century), and oriental carpets, which are incorporated into the mansion to give it the feel of a home, not a gallery.

Nemours Grounds

With the largest French-styled gardens in the United States, Nemours is a very special place. Following from le Petit Trianon design (the gardens at Versailles beloved by Marie Antoinette), the Nemours Gardens may be even more beloved than the mansion. Dominating the garden is the statue “Achievement,” which rises over the gardens’ maze. Designed by Henri Crenier and covered in gold leaf, this sparkling statue draws the eye to the gardens’ center.

Another dazzling spot in the gardens comes from the reflecting pool, set amidst the gardens’ lush landscaping. Beyond the formal French gardens lie the Brandywine Valley woodlands, with indigenous wildlife including red-tailed hawks, white-tailed deer, and fox. The original Nemours Mansion and Gardens was run to be self-sufficient, with its own orchards, kitchen garden, greenhouses, and cattle.

Legacy of Alfred I. DuPont

Nemours Mansion and Gardens was part of the legacy of Alfred I. DuPont (creator of what is today known as the DuPont Company), who named it for the town in France where his great, great grandfather lived. In addition to the Nemours Mansion and Gardens in Delaware, DuPont left a generously endowed Nemours Foundation, which focuses on children’s health and includes the nearby Alfred I. DuPont Hospital (a working children’s hospital). Upholding his belief that, “it is the duty of everyone in the world to do what is in his power to alleviate human suffering,” the charitable Nemours Foundation today works toward the goal of improving the lives of children.

Touring Nemours Mansion and Garden

Today, the only way to visit the mansion and its grounds are …

The Mystery Behind the Winchester Mansion

The Winchester Mystery House in San Jose, California is one of the most beautiful mansions in the world.

It’s also one of the most bizarre. Windows in the floor. Doors that open to a two-story drop. Secret passageways. Stairways to nowhere (which could have been a famous song by Led Zep had they ever written it).

Why such an odd construction? It was built by ghosts.

The mansion was the brainchild of Sarah Winchester, the wife of William Wirt Winchester, who was the heir to the Winchester rifle fortune. After her infant daughter and husband died, Sarah Winchester sought the guidance of a spiritualist.

The Boston Medium explained to her that her family was cursed by the ghosts of all those who died by the “The Gun That Won West.” The only way to appease the spirits and save her life was to move west and use her blood money to build the spirits a house.

Legend has it that Mrs. Winchester literally let the spirits design the house. She would conduct nightly sances where good spirits would give her instructions that she passed to her foreman every morning.

That turned the mansion into a sprawling 7-story maze of 160 rooms, 47 stairways, and 13 bathrooms. In fact, the number 13 appears quite a bit in the house: rooms with 13 windows, walls with 13 panels, chandeliers with 13 candles, even walls with 13 coat hooks.

The unusual design of the mansion was also spawned by Mrs. Winchester’s attempts to disorient evil spirits that were stalking her. She allegedly never slept in the same room two nights in a row and would often sneak through secret passages to deter ghosts… because ghosts can’t pass through walls or anything.

Mrs. Winchester also believed that if construction never stopped, she would live forever. So her crew worked around-the-clock, even on weekends and holidays, for 38 straight years, until Mrs. Winchester died of heart failure in 1922. Today, her eccentric $5.5 million construction (that’s around $20 million in today’s money) still remains in an unfinished state… which I’m sure didn’t look good on the architect’s resume.

The tour of the house was an informative and entertaining look inside the mind of a woman gone mad. And you have to stay with the group because if you get lost, they literally have to send a search and rescue team to find you (if the bad ghosts haven’t gotten you yet). I always had the feeling that one wrong turn would lead us into a portal to nowhere; after all, the mansion is basically a mirror maze away from becoming a carnival funhouse.

Unlike the Haunted Mansion at Disneyland, however, when you leave you don’t hear a man say, ” a ghost will follow you home!” Bummer – that would have been a cheap souvenir.…

Elite Modular Mansion Homes

Modular mansions come in sizes that might startle the average home buyer. Elite modular homes are available in five, ten and sometimes fifteen thousand square feet. These homes are the latest trend among the financial elite. To the wealthy, modular mansions make sense because you get more home for less, receiving all the extras they expect without any sacrifices.

The general public takes longer to catch up with new trends. Some still believe modular homes are just fancy trailers, but nothing could be further from the truth. Just like trucks were once considered just a work vehicle, some trucks are now considered luxury vehicles. The same can be said for modular homes, they are now available in every size with any floor plan that the customer desires.

From their humble beginnings modular homes have evolved to become high precision homes, with built-in fixtures that incorporate the latest advances in automation, cad-cam design, and quality control. From a construction standpoint, the accuracy and strength excels over the traditionally stick-built home. The average modular home contains 17-20% more material compared to the same home built on location.

The additional material comes from the need to strengthen the home for shipment and the crane assembly once it reaches the building site. The added strength and rigidity helps maintain a solid home for generations to come. At the site, most homes are set in place in two to four days, and the finish work which includes electrical, mechanical, septic, garage, driveway, and other architectural details, are normally completed in a 60-120 days. The shorter completion time is an added attraction for many buyers, waiting to see their dream home.

Size has no limit as attested by the 12,700 square foot Cape Cod modular mansion built in Massachusetts that was comprised of 26 individual sections. The owner achieved the appearance of a traditional “period home”, using modern materials giving the feeling of warm and cozy, new antique. The home was designed for its ocean front site, with all the rich details you would expect in a custom high-end home. Skeptical buyers can take a virtual tour of their home plan, room-by-room before it is ever built and see every detail, right down to the placement of their furniture through the use of modern computer technology.

From a financial standpoint, there is an average savings as much as 10-20% for the same floor plan compared to a stick built home. If wealthy buyers are reaching to the modular format to build their dreams, they understand the value in using modern automation for a quality built home, and perhaps the average home buyer should look closer at the modular option when searching for a home builder.…