I’m VP of Sales for a Real Estate Investment company where we buy bulk REO’s, then redistribute and manage the properties for our partner-clients. In lieu of our position with REO agents and the hold status on many of the properties we aquire these days; we decided to facilitate bulk REO purchases for other investors. Easier said than done… Every buyer we were not currently doing business with has proven to be undependable at best or complete charlatans at worst. So I ask, are individual bulk REO investors out there, fact or fiction? And what is the best way to locate serious buyers? Thank you in advance.
What part of the country are the properties located in?
What type of discounts are you getting?
There are neither buyers nor sellers of bulk REO’s. It is a fairy tale, fueled by the proliferation of internet websites catering to such nonsense. Do you really think that someone who has the ability to purchase $100,000,000 of real estate needs to go online to find a supply?
Do you really think someone who has an inventory of $100,000,000 of real estate, and who is selling at 40% LTV no less, needs to go online to find buyers?
Too much Kool-Aid in the water these days.
We can secure properties nationwide with discounts depending on the size of the package, condition of the properties and property type. Usually .45 - .65 cents on the dollar.
I’d be inclined to believe AJ’s “Too much Kool-Aid in the water these days” if we hadn’t purchased bulk REO’s ourselves or facilitated transactions for our clients…but we have. Finding new business however has remained the pipedream. We deal with banks that have inventory verified in escrow, but where do I find bona fide buyers?
Hmmm. WRONG! :bs
Yes. Qualified potential buyers of REO portfolios DO exist and more over, they DO search for these properties online. :bobble
At the same time, YES. Asset Managers with portfolios of hundreds if not thousands of REO’s DO search online for potential bulk REO buyers. :bobble
Review THIS THREAD to see a list of properties from 2 different Asset managers portfolios in CA.
GooD LucK! :beer
bulk REO buyers? seriously? big time investors aren’t posting on forums.
:bs Why? Is it above them or something? Or perhaps we should start with defining “BIG TIME INVESTORS”.
GooD LucK! :beer
For bulk sales to close you need to be direct to either buyer or seller.As easy as this transaction sounds it is the hardest thing to do.However,once established it is very rewarding.