In Jeff Adams hot new course entitled Foreclosure Profits and REO systems he discussed how to take advantage of the growing trend to purchase REO properties for pennies on the dollar. In this course, he provides a framework that will walk the investor through the entire process.
One of the things Jeff stresses in his course is having all your ducks lined up AFTER you buy your first investment property. Here’s 22 critical things you should consider as part of your checklist.
1. Get insurance.
2. Contact municipality and make sure that all permits are covered
3. Transfer all utilities to your name
4. Contact all tax collectors and tax bureaus and have all tax information transferred to your name
5. Address any safety and maintenance issues
6. If the property comes with a tenant, make sure you educate yourself on the necessary eviction proceedings and move forward accordingly
7. Know the laws regarding the rights of redemption for the state that the property is located in
8. Make sure you receive confirmation from your attorney or escrow company on all of the necessary documents and paperwork
9. lso enlist his/her services to accommodate any unnecessary legalities
10. Understand that the property is not officially yours until all of the necessary paperwork is done, legal obligations have been fulfilled, and the property is paid in full
11. If the property is currently being occupied by a tenant, make sure you know the rules, regulations, and proceedings required for the actual eviction process 34
12. If you are planning to keep the property as a rental
13. Cooperation with tenants is key
14. The transition between landlords should be as smooth as possible
15. Maintenance and repairs
16. Electrical is first on the list
17. Heating and chimney
18. Structural damages (holes, leaks, major cracks in walls or ceilings)
19. Kitchens and bathes
20. Major selling points, so make sure they are updated and fantastic
21. Doors and windows
22. Fix if necessary as they provide added protection and heat commodity Jeff Adams Real Estate Millionaire Blueprints
Jeff Adams Foreclosure System Contents
Jeff Adams Real Estate Millionaire Blueprints
Jeff Adams is one of the top Foreclosure Systems experts in the country. To get tons of FREE stuff such as Foreclosure Blueprints and other killer information please visit the Jeff Adams Review and FREE Stuff website.