trying to get back in the game since 08-09 , want to start with reos the maybe foreclosure curious what documents do i need again in my toolbox these days , hard money letters etcs ? thanks
I’ve had the best luck wholesaling with privately owned fixers. Working with banks (REO’s) and sellers facing foreclosures can be futile…
I can offer you a free booklet and the contracts I use. just PM me. Rando
Things have changed quite a bit from 2008-09. Many of the banks will not seller to investors any longer so you may be wasting your time with REOs. I am in Texas and this is the case here. We also do not see many deals on MLS any longer so we are trying to find motivated sellers directly. Its tough but where the market is today.
Everyone is leveraging technology and new tools much more to find deals now. Text blast, RVMs, etc. Remote wholesaling is also more common than it is now. People are tying up property over the phone site unseen, which is super impressive. Faster paced in that sense!
I agree with Rando that the game has changed and REOs probably aren’t the go to right now (that might change if the cycle turns). Direct to owner is where most of the deals are now. As Alex says there are lots of new technology to try and reach those owners. Good luck and let us know if you have specific questions.