:banghead Does anyone know how to contact and build a relationship with the REO asset managers?
Call the lender and ask them…then be honest. Tell them what you’re doing. They are in the business of sellin the REO properties. They are lenders not real estate institutions.
Keith
As Keith said, call them and talk to them. Also, they might brush you off initially and not take you seriously. You probably won’t be the first one that has asked them about REO’s, and they might think you are just a wannabe talking.
After you talk to them, the best way to build a relationship with them, is probably to BUY a property from them. Once you actually close on a deal with them, they will realize you aren’t just talking and take you more seriously…
Just a thought…
You also might want to find your suit, shine your shoes and go visit them!
Don’t be afraid to call people on the phone or visit them in person. THis is very much a “people business”, not an internet business!
Keith
I second what stevie-o said- the best way to get on their good side is to actually close a deal with them.
Lots of investors are trying to schmooze the REO realtors, however, actions speak louder than words, ya know?
Steph :cool
Most of the banks in our area work with realtors when they finally end up selling properties, I have had much more success contacting the realtors who are in with the asset managers, one of the recent deals I picked up this way went into foreclosure at $95,000 and the realtor had it listed at $40,000, when the asset manager needed to move the house he called the realtor who then called me and I got the house for $12,000.
with foreclosure rates escalating to all time highs asset manager typically don’t have the time, nor the want to work with investors directly otherwize their phones would be ringing off the hook all day.