REO Contractor

Do anyone know how to bid on REO properties as a contractor to get the property ready before the bank list them for sale. :shocked

Are you talking about contracting to actually fix them up or just clean them out? My experience has been that a lot of times the properties will get cleaned out and winterized if applicable, but I’ve never seen a REO property get rehabbed to market. One of the banks we’ve bought several properties from has an employee who is in charge of running the REO aspect of their business. At one time, they had over 20 sfhs that he was contracting the managment and repairs on. They were rentals that someone lost to foreclosure and the bank kept running them as rentals until they could sell them. So I’d talk to the banks in your area and let them know you would be interested in cleaning the houses out.

You’d probably be better to be asking the question on a trade forum. I’d just as soon buy the things trashed for less $$ but that’s not the way it works around here.

There are often ads on craigslist looking for property preservation contractors.