If you have done any real estate investing, you understand how difficult it can be to find motivated sellers. So being able to find distressed properties like VA foreclosures can really help you get started. The Veterans Administration list properties with a website online that anyone can access, not just a realtor. Not to mention, this site also lists bank owned properties as well. It is an excellent resource for acquiring leads on distressed properties in you area. Are you ready for this resource?…
The Ocwen Foreclosure Site
That website is Ocwen’s REO spot for bank owned and VA foreclosed properties. Now, before we move on, I just want to say that Ocwen does have commercial properties, however they have a lot more residential properties for sale than they do commercial. You’ll want to click on the Properties for Sale link provided on the home page to access the foreclosure lists.
Now, for the residential home foreclosures, you’ll want to click on the residential properties link. This will pull up a map of the United States, which is clickable, and then click on your state. Then click the View Property List button to get the full details of the available properties for your state. Now the list they provide to is in alphabetical order by city. So you should be able to easily scroll down to your city to see the available properties for sale.
Getting the Property Details
Once you have found a property of interest, click the link in the “ID” field for more details. Here you will see all the appropriate information you expect to see, including square footage, bedrooms, bathrooms, and whether it is a single or multifamily property. More importantly, it will give you the contact information for the listing agent on the property.
What to do After You Find a Potential Ocwen Deal
From this point, you will simply contact and work through the listing agent (or your own agent), put the offer together, and send it to the Veterans Administration or Bank for approval. I recommend offering extremely low, according to the key to real estate investing. Remember, these agents are not in the game to make you money, they are in it to make themselves money, and they want to get the highest price possible. So don’t even listen to them, just make your offer, and see what happens. Leave emotion at the door, and you are much more likely to end up with a deal that will make you money.
So there you have it, another tremendous resource you can put in your back pocket on how to harness the power of the internet in finding those discounted and distressed properties. So don’t delay, hit the Ocwen site now, and find that next great deal!