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By: Shaun McCloskey

The "BPO Underground" Session

A Real Estate Investing Case Study Interview
with Shaun McCloskey and "Bob the BPO Guy"

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Shaun McCloskey is a full time real estate investor and short sale expert who focuses his investing in the St. Louis area.  His business is almost exclusively focused on preforeclosure, short sale real estate investing.  He's one of the best in the nation at it. 

"Bob the BPO Guy" is a full time BPO agent -- an industry insider with 10,000+ completed BPOs under his belt so far. 

Due to the sensitive nature of what "Bob" shares about his industry as it relates to short sale real estate investing, he prefers to remain an anonymous, grey shadow with a question mark on his face.

The complete audio for this revealing interview follows below.  You can either listen online, or download it in MP3 format to your own computer.  It offers a true insider’s perspective on the BPO process and an honest look at how it effects short sale transactions. 

But before we jump into the interview, you may be asking...

“What in the world is a ‘BPO agent’?”

“BPO” stands for Brokers Price Opinion, therefore, “BPO Agents” are sort of like mini-appraisers.  They’re paid by lenders to give their best opinion as to what a property is worth before it goes to foreclosure.  Not a full appraisal, mind you. More of an estimate.

“So why is this even important?”

A BPO is the key ingredient a lender uses to determine how much they’re willing to sell a property for, either before foreclosure (in a short sale) or afterward (as an REO).  Lenders rely on BPO agents to provide them with valuable information relating to how much the property is actually worth in present condition.

So as it relates to preforeclosure real estate investing, the BPO valuation is probably the single most important aspect in determining whether or not your offer to the bank will be approved.

So……for anyone with an interest in preforeclosure investing, if you had the chance to get a true insider’s perspective on the BPO process, take an honest look at their role in short sales, and learn how to be as effective as possible in your interactions with them, wouldn’t it maybe, possibly, kinda be a pretty good idea?  You bet!

Due to the recent real estate market bust and the foreclosure boom, much of the hype in real estate investing lately revolves around short sales.  If you want to learn about one of the most important aspects of why short sales can either be the most frustrating way to acquire properties or the most profitable and fun, this interview will give you a taste as to what you may already be doing wrong.

You'll discover...

• What’s the difference between a BPO and an appraisal?
• What does a step by step BPO look like from start to finish?
• How do BPO agents determine value when there are a lot of repairs needed on a property?
• What can an investor do to get the LOWEST BPO possible so that they can get the BEST deals on the properties they purchase?
• Can BPO agents help investors get their deals approved?
• How do contractor estimates play a role in a BPO agents final decision?
• How do you value older historic properties?
• How can you get a true value of the property if you haven’t even gone inside the house?
• How can an investor ensure that they’re buying properties at the lowest possible price and not leaving any room on the table?

Now listen online or download the entire,  uncut interview right now, compliments of Shaun McCloskey, Flipping Homes and The Short Sale Intensive…

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