HUD Foreclosure "Listing Errors" Equals $10,000 in Your Pocket
On this Systems Saturday, John Cochran will show you how HUD Foreclosure “Listing Errors” can make an EXTRA $10,000 or more. This video will show you how to research and bid on them; you will also learn what factor TRUMPS a Listing Error. These are hidden goldmines and they’re easy to spot out.
0:00Now if you dig these System Saturday's you haven't seen anything yet you gotta 0:03get one to my live events where I can deliver to you a blueprint that is 0:06proven 0:07so that you can see it in person and take that prop 0:10. . . . . 0:17I did everything myself in here that is not 0:20how'd you do the business and that right there is a house that I have already 0:24flipped 0:25as well and I already know that I can flip this house to a buyer on my buyers list 0:29coz I got a strong buyers list in this area 0:35Hey guys John Cochran here and today is System Saturday the day that I bring you a 0:39system that I use my business 0:41you can rip off duplicate using your own local market 0:44now if you dig these System Saturday's you haven't seen anything yet gotta get 0:48to one of my live event it's nothing but two full days 0:50of System Saturday content, you can meet my team where we can deliver you a blueprint 0:54so you can go home 0:56and have that blueprint for success so on today's 0:59system Saturday session I'm gonna show you how you can make it extra ten 1:03thousand dollars from what's called listing errors 1:06that HUD does now what is a listing error so exactly when 1:10HUD will go through and they will put a property up into the market and they 1:14will list it at a two-bedroom home 1:16and then you find out that it's a three bedroom or a four bedroom home they do 1:20this a lot 1:21now how in the world do we find these listing errors? It is very simple 1:25all we need to do is go to HUD home store dot com 1:29now when you're at HUD home store dot com it's going to take you you're gonna look 1:33you're going to be searching for all the properties okay all the properties that 1:37you're gonna betting on 1:38what I want to do, I just want you to search for your own state search for 1:43the county that the properties that you are going to be bidding on 1:46today and then the buyer types choose that as an investor so that you can bid on those 1:50as a real estait investor unlocking the deed restriction so 1:54this is going to show you all the properties in this case 1:57and Montgomery Ohio, Montgomery County of Ohio 2:00that investor can buy now in order to find these listing errors, it is very 2:05simple you can just see these 20 properties and you can see the addresses 2:09right here 2:09okay and then right beside that you have a price and then you have where we call 2:14this the listing air 2:15here the three-bedroom the two bedroom the three bedroom three bedroom three 2:19bedroom all the bedrooms are 2:21are right here on this column now in order to find this 2:25error you need to do there's two ways to do this the first way is to go into the 2:29local MLS and find out what they have 2:32as the bedrooms in the local MLS so I'll just run through this real quick 2:36and I'll show you one of them 2:38I'm so il just fo in to our local MLS right here 2:41and I will let me just click on a property right right here 2:4553 Bond Street will click on that property 2:48and I will search into our local MLS at 53 2:52bond and I will find out how many bedrooms 2:55this property is so right here at 2:5953 Bond Street it showing, it as a three-bedroom 3:02one full bath okay now I do wanna show you hear that it hasn't listed as a 3:07three-one 3:08now notice that it has sold in 2002 as a 3:11three-two so it's a three bedroom one and a half bath 3:15that's what we call it a listing error so if we find this 3:19okay if we find this we will go out to this property 3:22and then we will find out the true if it is a three bedroom one bath or three 3:26bedroom two bath or is it a four-bedroom 3:29one bath or four bedroom two bath that's how you're going to be able to pick up 3:33an extra ten thousand dollars on 3:35on every single listing error that you find the second way to do this 3:39is to go to the county auditor okay so for this 3:43example on the one on 53 Bond Street I'm was gonna Google 3:47Montgomery County Auditor I'm gonna go to their website click on the 3:51real estate section right here so obviously you do the room uh 3:55the the auditor that you were county the the properties in your county is 3:59located inand I'm gonna go here and I'm going to do a property search 4:04for 53 Bond 4:08Street okay and I'm going to click Search and I'm going to click this 4:12obviously HUD owns this probably I'm gonna find out what the 4:15auditor says that this property is in three bedroom one bedroom 4:19because typically the MLS will be the first area that you want to search 4:23and then the auditor's website where the taxes get calculated that is basically 4:27going to be the best 4:28source up if it is a three bedroom four bedroom one bath two bath 4:32how many is this, so I'm just gonna look right here 4:35and it is a two, lets see here is a three-bedroom 4:39one full bath so you can see here 4:43that it has on the HUD's website a three-bedroom one-bath 4:46and the MLS has it as a three or it is has it as a 4:49three what was that, a three-one and a half and 4:54then the auditor has it as a three-one so 4:57it's clearly going to be a three-one because that's what the auditor's website is so 5:01that's exactly how we find listing error now 5:04if we find a listing error and when we do find a listing error 5:07we are able to bid more on that property because it is more valuable to us 5:11so that we can make in get that property accepted end up buying a property and 5:16make more on it so we will bid higher 5:18on all of our listeners the second thing that I want you to know is that 5:22if we find a listing their and into other properties 5:26and we find out that also the price has been reduced that reduced 5:30price will trump the listing error and we will still not buy that property so 5:34check out the last system saturday that I've shot 5:37and on the price reductions on how their toxic because we do not buy this home 5:40regardless 5:41so on that's exactly how we do it comment on this video below let me know 5:45what you think 5:45and I'll see you on the next system saturday