hope all are doing well. What is the best way to find reo's, we are just starting out, we have money but want to find out how to start. Any help out there?
READ READ READ. The forums on this site are awesome! Also, find a realtor who understand the needs of investors. Find one who could care less if he puts in ridiculously low bids and will e-mail REO's to you on a daily basis. My realtor sends me REO's that fit my needs(price, type of rehab, etc.) They can be priceless.
Best of luck to you!
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READ READ READ. The forums on this site are awesome! Also, find a realtor who understand the needs of investors. Find one who could care less if he puts in ridiculously low bids and will e-mail REO's to you on a daily basis. My realtor sends me REO's that fit my needs(price, type of rehab, etc.) They can be priceless.
Best of luck to you!
Contact loss mitigation department at banks. You will get the run around so be patient. Cash is king.
thanks let me try the banks first (cash we have) I will try to contact a realtor in the morning to se what they say. thanks
I have found RE agents quite helpful in locating REOs in areas where foreclosure rates are high.
now this brings up a new question? does the realtor get paid to do this???
Finding REOs is easy. Form a relationship with just about any realtor.
Making a profit is the tough part.
If the REO is "aged". You have a shot.
YMMV...(your market may vary)
The realtors are paid commission by the banks (sellers).