Comments on: Bulk REO Properties – Is the “bulk” REO deal a myth?

By: George Wagner

George Wagner — Wed, 31 Dec 2008 03:22:28 +0000

Need a direct Bulk REO Source? Take a look at my site >> http://www.BulkREOTape.com

You are right – Most of the product releases are 5MM or less on average. Bigger pools do happen, but the institutions usually shed their excess inventory as soon as possible. I have recently seen a @ 370MM PBO all CA tape, for example.

Great name Trevor .. same as my son

By: John P.

John P. — Mon, 03 Nov 2008 23:30:56 +0000

Great article. Similar to and REO, I own a 400 semi custom home subdivision in CO. We currently have 160 lots left to sell. I am a commercial developer, and have projects waiting to be completed but I am tied into my subdivision waiting for a bulk sale. My subdivision is uncumbered by any bank debt and I am looking for serious offers only. Retail market = 9 – 10 million, willing to sell in bulk for 60% +/-. Owner finacing available. skybuild@msn.com

By: reibrain

reibrain — Wed, 13 Aug 2008 17:24:27 +0000

Hey Dan and Danny (not sure if you’re the same person)… thanks for the comments.

Are all of those 115 houses owned by the same bank or is it a mish mash of properties? I’d be interested to see how the deal progresses… keep me updated.

– Trevor

By: DANNY ENGRAM

DANNY ENGRAM — Wed, 13 Aug 2008 04:45:17 +0000

HEY HENRY B.,

DANNY IN HOUSTON. IF YOU ARE STILL INTERESTED,I’M IN THE MIDDLE OF TRYING TO BROKER A DEAL RIGHT NOW THAT MAY TICKLE YOUR FANCY.
115 HOUSE PACKAGE
ALL IN SAME NEIGHBORHOOD-(HERE IN HOUSTON)
WORTH 9M
PURCHASE PRICE- 6M
CHERRY ON THE SUNDAY………………..ABOUT 75% OCCUPIED
DANNY
DKL INTERESTS
DANNYDKL@YAHOO.COM

By: Dan

Dan — Tue, 12 Aug 2008 20:53:17 +0000

would it be possible for you to contact me about this specific issue please?

By: reibrain

reibrain — Wed, 23 Jul 2008 16:58:48 +0000

Hey Henry, Thanks for the comment.

Finding direct sources is the problem that most of us have… just the name of the game I guess.

I got a hold of my client who handles these and right now they are focusing on Bulk REO purchases of between $500,000 and $5,000,000. The bigger deals are just few and far between and like you say… there are too many daisy chains to deal with a lot of the time. Right now, banks (as far as I’ve seen) aren’t making these huge bulk REO deals… it’s middlemen who are putting together packages from multiple banks and packaging them as one big ol’ bulk REO deal.

So, right now I can’t help you… but I’ll definitely keep my eye out!

Thanks again!

– Trevor

By: Henry B. Torn

Henry B. Torn — Sun, 20 Jul 2008 16:04:12 +0000

Great and accurate info. My trouble is finding DIRECT SOURCES of Bulk REO’s up to $50 Million. I can prove the buyers by submitting their names, websites, PR News clippings, Trade Journal quotes to offer instant credibility. These are real buyers with NO BROKER CHAINS!

Can you help?

By: reibrain

reibrain — Thu, 17 Jul 2008 20:22:43 +0000

Hey Jp, thanks man! I’m w/ ya as far as having a bunch of houses in your pocket at once… if you don’t have a solid buyers list and/or marketing… the holding costs on those houses could kill ya.

Working up in steps would prob be the way to go (buy 2 at once, then 3, then 5, etc.).

Hey, thanks again!

- Trevor

The REI Brain

By: jp | REI Tips

jp | REI Tips — Thu, 17 Jul 2008 13:30:44 +0000

Hey, Trevor — excellent article — thanks! I’ve done quite a few REO deals, but not yet ventured into the bulk waters. Often intrigued by it though. I guess having a bunch of houses in my inventory at once intimidates me a little…but I need to get over that fo’ sho’.

Thanks again, man!

…jp
http://REItips.com