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if baked own property or whats commonly referred to as an REO is a property that has been foreclosed on where no one bought the property at the foreclosure auction and the bank took back the property well banks are not in the business of owning real estate theyre in the business of loaning money so when a bank gets back a foreclosed property they market it for sale with a local real estate agent and they sell it and over the years having flipped hundreds and probably thousands of properties I would say bank owned properties have probably been my best source of deals as a real estate investor if youre not actively going after REO s then youre missing out on a huge source of deals on todays video Im gonna break it down and Im gonna show you everything you need to know specifically 10 tips for getting bank owned properties for cheap coming up hi its Jerry Nora and the nations leading expert on flipping houses even if that is self proclaimed and first and foremost a lot of people