How do you find the REO Asset Manager

In the Minneapolis/St. Paul, there are about 5 Realtors that have 90% of all the REO listings. They developed relationships long ago with the asset managers at the banks and simply have new listings faxed to them every day.

I am understand selling REOs are tough because of the upkeep of the property during the listing, but if I could get 1-2 per month, my kids could get that GI Joe action figure they always wanted :roll:

How can I find the REO Asset Managers at the bank and get them to give me shot at listing/selling one of their properties?

Edited: 06/26/2010 at 03:55AM

Neil Palmer

25 posts

Icon_minipost Aug 31 '07, 06:47 AM

Scott, you can go to a data base site such as jigsaw and pay a $ for contact info. Look carefully under Financial Institutions, then Banks, and look for Special Asset Mngrs or Reo Mngrs. You get full details including phone and email. For small nos go for the small to medium banks. Believe it or not lots of small banks have Reo's, but may not have dept managers...Guess what. Get the Ceo info and ask for his/her exec asstnt.

best of luck.
Neil P

Edited: 06/26/2010 at 03:56AM

Account Closed

3396 posts
-103 Influence
3 Awards

Icon_minipost Aug 31 '07, 10:14 PM

Originally posted by "cricket11"

Scott, you can go to a data base site such as jigsaw and pay a $ for contact info. Look carefully under Financial Institutions, then Banks, and look for Special Asset Mngrs or Reo Mngrs. You get full details including phone and email. For small nos go for the small to medium banks. Believe it or not lots of small banks have Reo's, but may not have dept managers...Guess what. Get the Ceo info and ask for his/her exec asstnt.

best of luck.
Neil P

Neil,

Great suggestion re: Jigsaw. If others are interested you can reduce the cost to zero or a trivial amount by contributing contacts. Just check out the rules on the website.

Jigsaw is more similar to LinkedIn than BP. Not designed for RE investing but definitely an effective tool if someone has put in the contacts you need.

John Corey

Edited: 06/26/2010 at 03:56AM

N/A N/A

2 posts

Icon_minipost Sep 06 '07, 12:47 AM

Should you find one can you add me to your list?

Thanks.

Edited: 06/26/2010 at 03:57AM

Mark G.

Hard Money Lender · Calabasas, California

10 posts
-25 Influence

Icon_minipost Sep 20 '07, 04:39 AM

Did enyone ever get this list of asset managers?? I could use it! Let me know!!

Edited: 06/26/2010 at 04:01AM

Scott Ficek

Real Estate Agent · Minneapolis, MN

194 posts
99 Influence
1 Award

Icon_minipost Sep 20 '07, 07:36 AM

Nope.

Edited: 06/26/2010 at 04:01AM

Mark Azevedo

Residential Real Estate Agent · CA

22 posts
1 Award

Icon_minipost Sep 20 '07, 02:23 PM

Hi ScottFicek,

Nice to meet you.

Another avenue you might approach is seeking out local wholesalers and get to know one or two. Build the relationship, ask questions and you might be surprised at what develops.

Do you have a local REI club you can attend? If so, attend! Ask around about who is doing what you want to do. The people doing well are known and shouldn't be to hard to find.

Good luck!

Mark

Edited: 06/26/2010 at 04:01AM

Mark Azevedo

Residential Real Estate Agent · CA

22 posts
1 Award

Icon_minipost Sep 20 '07, 02:46 PM

Whoops! I didn't realize you were a Realtor. I misunderstood. I thought you were purely an investor looking to buy REOs. In reality, you are looking to pick up listing inventory.

EDITED BY MODERATOR

Mark

Edited: 06/26/2010 at 04:01AM

Alex Hardy

· North Hollywood, California

10 posts
62 Influence

Icon_minipost Oct 09 '07, 10:47 PM

i began my search for asset mgrs yesterday. let's see how far i can get...

Edited: 06/26/2010 at 04:05AM

Josh McIntire

Real Estate Consultant · Los Angeles, California

9 posts
25 Influence
2 Awards

Icon_minipost Oct 17 '07, 06:51 AM

if anyone finds a contact or a list of contacts i would also be interested in building that side of my network

thanks,
Josh

Edited: 06/26/2010 at 04:07AM

Calixto Urdiales

Residential Real Estate Agent · Los Angeles, California

1466 posts
57 Influence
4 Awards

Icon_minipost Oct 17 '07, 07:00 AM

dbforum29-

Do you think you could get anything in Los Angeles CA?
As I have many investors that want to purchase in this area!

Edited: 06/26/2010 at 04:07AM

Josh McIntire

Real Estate Consultant · Los Angeles, California

9 posts
25 Influence
2 Awards

Icon_minipost Oct 18 '07, 12:20 AM

Originally posted by "loki005"

dbforum29-

Do you think you could get anything in Los Angeles CA?
As I have many investors that want to purchase in this area!

I am in LA, are you looking for REO property in the Area? i may be able to help you put something together

Josh

Edited: 06/26/2010 at 04:08AM

Jonathan W

27 posts
1 Award

Icon_minipost Oct 18 '07, 03:15 AM

Originally posted by "jwmcintire"

Originally posted by "loki005"
dbforum29-

Do you think you could get anything in Los Angeles CA?
As I have many investors that want to purchase in this area!

I am in LA, are you looking for REO property in the Area? i may be able to help you put something together

Josh

I am looking for REO properties in Los Angeles. What is your contact information? Not in profile.

Edited: 06/26/2010 at 04:08AM

Josh McIntire

Real Estate Consultant · Los Angeles, California

9 posts
25 Influence
2 Awards

Icon_minipost Oct 18 '07, 03:28 AM

i updated my signiature, i'll double check it now...i guess we can't put contact info in threads...updating now

Josh

Edited: 06/26/2010 at 04:08AM

Peter Mitchell

Real Estate Investor · Ladera Ranch, California

31 posts
162 Influence
1 Award

Icon_minipost Oct 21 '07, 10:05 PM

Originally posted by "jwmcintire"

i updated my signiature, i'll double check it now...i guess we can't put contact info in threads...updating now

Josh

I'd be interested in talking with you about your contacts, as well. I am interested in properties in the LA area

Edited: 06/26/2010 at 04:09AM

Julie Sabine

Residential Real Estate Broker · Palm Coast, FL

4 posts

Icon_minipost Jan 09 '08, 11:39 PM

Would love to get any help on finding contacts in Flordia.

Edited: 06/26/2010 at 04:30AM

Skylar Howard

Real Estate Consultant · Siesta Key, Florida

423 posts
1540 Influence
3 Awards

Icon_minipost Jan 15 '08, 11:36 AM

Julie,
Call or email me.

Edited: 06/26/2010 at 04:31AM

Susan Flowers

Residential Real Estate Agent · San Bernardino, California

7 posts
35 Influence
1 Award

Icon_minipost Feb 06 '08, 05:46 AM

Concerning REO listings,I have a friend who is receiving about 5 listings a week, she started with BPO's and decided to try alternative avenues in creating REO business.One way she has produced business is through attending REO Conferences where asset managers network,this is the REOMAC and the FIVE STAR conferences I plan to attend the REOMAC which is coming in the spring this year in CA and hope to network with success!

Edited: 06/26/2010 at 04:39AM

Remy Garcia

Banker · Lyndhurst, NJ

18 posts
1 Award

Icon_minipost Feb 07 '08, 10:58 PM

I am also in the need to find some asset managers. Have investors looking for nationwide properties... Any help or pointers are greatly appreciated.. :groovy:

Edited: 06/26/2010 at 04:40AM

Ken Leon

Real Estate Investor · CA

4 posts

Icon_minipost Mar 04 '08, 03:07 AM

I represent clients in the acquisition of bulk REO. I would love to be able to get in contact more with the Assett managers.

Let me know how your experiences are.

Or if you have any product to offer me and my clients, feel free to contact me.

Edited: 06/26/2010 at 04:48AM

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