REO foreclosure investing is just one of the myriad of ways one can make money in the real estate market, the information that is out there on this most profitable endeavor is an ever-growing and ever-expanding lucrative market.
REO foreclosures are the bank-owned property that has been repossessed by the banks on those homes that have went into foreclosure when the owners of the property can no longer pay their mortgages, when the banks reclaim them they then will sell them to other home owners and/or investors at dramatically reduced rates.
When banks repossess a house, they want to sell it and get some money back as some money is better than no money at all, so they will sell these reo homes for cheap and recoup some of their losses.
With REO investing, if you know how to do it, can be a wealth making idea for those savvy in the real estate market and can make you a nice income as there are many, many houses coming on the market every single day.
There are sites on the net that can help you with all kinds of general tips and information on REO investing to the step-by-step guides that will hand hold and walk you through how to make the money discussed here from beginning to end.
Buying REOs can also be quite enjoyable, some people buy such properties so that they can fix them up and move into them themselves, say in the case of someone wanting to downsize may look into a property that is smaller than what they are currently living in, they sell their home and fix up the reo and move right on in.