Willie Sutton was a very productive bank robber for 40 years in the 20th century. Apparently he was asked, ‘Why do you rob banks?’ to which he responded:
“Because that’s where the money is.”
Now we here at Mogul don’t advocate any type of criminal behavior, especially not on the Willie Sutton level. But we do advocate going ‘where the money is.’ Banks can be a real estate investor’s best friend for financing properties at low interest rates or their worst nightmare if they start falling behind on payments.
Read on for a great tech tool to help navigate the bank’s rough waters…
Banks also hold the keys to tons of great deals for investors. After all, let’s face it – these days it’s getting tougher and tougher to find a good deal on the MLS. The real estate market is coming back and there is lots of competition.
Many of those great deals are held by banks in their loss mitigation…
JP Moses
is a real estate investor in Memphis, TN, with experience ranging from land lording to note buying, rehabbing, and wholesaling. However, wholesaling is the area that he enjoys most and where he bring the most experience and expertise to his students.