60 min listen
212: Receivership Real Estate: The Hidden Inventory Only Experts Know About w/Jake Flothe
FromOn The Market
212: Receivership Real Estate: The Hidden Inventory Only Experts Know About w/Jake Flothe
FromOn The Market
ratings:
Length:
35 minutes
Released:
Apr 29, 2024
Format:
Podcast episode
Description
When housing inventory is low, where do you go? Foreclosure rates are down, short sales are a hassle, and the open housing market has barely any sellers—is there a better way to find deals? Yes! Enter real estate receivership—the hidden housing inventory that our own James Dainard has been using for years to get better deals than what’s on the market. How do they work, and what’s behind these discounted deals?
Attorney Jake Flothe works with receiverships daily and has seen the inside and out of these transactions that most real estate investors know nothing about. In short, receivership is when a court-appointed receiver takes control of a property in order to sell it to pay back creditors on the borrower’s behalf. This alternative to foreclosure and bankruptcy helps many real estate investors and everyday Americans escape a financial bind and can bring better properties to your investment portfolio.
Jake gets into the nitty gritty of why someone would go into receivership, how to finance these discounted deals, the vast benefits of receivership over foreclosure or short sales, what the bidding and buying process looks like, and the one clause that could kick you out of an amazing receivership deal.
In This Episode We Cover:
The hidden inventory of “receiverships” that most investors have no idea about
Why receivership real estate may be an even better deal than foreclosures
The bidding process and how to start putting in offers on these discounted deals
A BIG reason why foreclosures are down and receiverships are “ramping up”
One clause that could completely ruin your receivership deals
Why YOU may need to consider receivership if your deal goes sideways
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
James' BiggerPockets Profile
James' Instagram
BiggerPockets' Instagram
What is a Foreclosure? The Complete Guide
HousingWire CEO: This Inventory Shortage Could Last Decades
Connect with Jake:
Jake's LinkedIn
Jake's Website
Jump to topic:
(00:00) Intro
(01:50) What is Receivership?
(06:05) Can You Finance It?
(07:40) Better Than Short Sales?
(11:54) Bidding and Buying
(16:36) Receivership is “Ramping Up”
(21:20) The “Bump” Clause
(23:33) Fewer Foreclosures?
(24:36) How to Buy Receivership Properties
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-212
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Attorney Jake Flothe works with receiverships daily and has seen the inside and out of these transactions that most real estate investors know nothing about. In short, receivership is when a court-appointed receiver takes control of a property in order to sell it to pay back creditors on the borrower’s behalf. This alternative to foreclosure and bankruptcy helps many real estate investors and everyday Americans escape a financial bind and can bring better properties to your investment portfolio.
Jake gets into the nitty gritty of why someone would go into receivership, how to finance these discounted deals, the vast benefits of receivership over foreclosure or short sales, what the bidding and buying process looks like, and the one clause that could kick you out of an amazing receivership deal.
In This Episode We Cover:
The hidden inventory of “receiverships” that most investors have no idea about
Why receivership real estate may be an even better deal than foreclosures
The bidding process and how to start putting in offers on these discounted deals
A BIG reason why foreclosures are down and receiverships are “ramping up”
One clause that could completely ruin your receivership deals
Why YOU may need to consider receivership if your deal goes sideways
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
James' BiggerPockets Profile
James' Instagram
BiggerPockets' Instagram
What is a Foreclosure? The Complete Guide
HousingWire CEO: This Inventory Shortage Could Last Decades
Connect with Jake:
Jake's LinkedIn
Jake's Website
Jump to topic:
(00:00) Intro
(01:50) What is Receivership?
(06:05) Can You Finance It?
(07:40) Better Than Short Sales?
(11:54) Bidding and Buying
(16:36) Receivership is “Ramping Up”
(21:20) The “Bump” Clause
(23:33) Fewer Foreclosures?
(24:36) How to Buy Receivership Properties
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-212
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
Apr 29, 2024
Format:
Podcast episode
Titles in the series (100)
5: Cash Flow is Starting to Disappear: Is It Even Worth Chasing?: Cash flow vs. appreciation has been a fiercely fought debate between many real estate investors for decades. Cash flow investors love to tout the fact that consistent rental property profits allow you a life of freedom, while appreciation investors argue that cash flow doesn’t build wealth, it merely keeps you treading water. There’s arguably no better panel to ask about this topic than America’s best wholesaler, investor, and flipper trio—James Dainard, Jamil Damji, and Kathy Fettke. James, Jamil, and Kathy have a view on the appreciation vs. cash flow topic that most investors don’t possess. All three of these investors have bought, sold, and held real estate before, during, and after the great recession, meaning they aren’t subject to the 2020 and beyond “hot housing market” stigma many new investors fall into. They’ve seen what a good, bad, and ugly housing market can look like, and, unsurprisingly, they reach almost by On The Market