Locating REO Owners

fire580 profile photo

I subscribe to one of the popular REO sites here in Florida - It seems that most of the properties do not list any owner information, or sometimes only a MTG. Co. name - so how do I find out who to submit my offer to, or even if the property is still available or not confused

Comments(2)

  • davehays2nd March, 2004

    go to public record online

    search history of that property address and you will see the foreclosing lender

    that is the owner

    find out which real estate agents faciliate REO sales

    make relationships with them

    you cannot wholesale/assign REO properties, unless you form an LLC, have the LLC get the property under contract, and then you assign your ownership in the LLC to the end investor, who you better make sure is a cash buyer. Even then, it can be tricky. I personally have not and would not do such transactions, but that is only my opinion. Others have done this with success.

    REO investing is generally a cash game

    good luck, Dave

  • fire5802nd March, 2004

    thanks for the response davehays - how long does it take the public record people to update - in other words how long does it take the new owner to show - couple days? - couple weeks?
    your right about REO cash deals - seems the only way to go

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