Investing in Bulk REO 2015 and Beyond...?
Hi Everyone,
Long time lurker here. I've been dabbling in rehabbing/flipping since 06' and even done a bit of wholesaling. I've retired my day job as GP a few years early to allow the younger gen's to come up. I remain a part-time instructor and focus the other half of my days to RE investing.
I've been looking to invest in Bulk REO's (SFR/NPN) and like the idea of picking them up in quantity despite the (calculated) risk. I am open to nationwide investing eventually narrowing down to a few key geo-specific areas once I build up my portfolio. I'd like to re-package and sell off any excess properties in bulk as well.
To be clear: ***I am NOT looking to solicit deals on the forum*** so please hold off on that trigger :) I am just looking to get my finger on the pulse of the market here in 2015.
I do understand that there is a TON of B.S. floating around, a lot of investor's getting burned with fake deals, $1 Billion Trillion dollar packages, broker chains, get-rich-quick personalities, and non-existent product. I am not going to chase dreams and understand that to lock down the legitimate deals will take a lot of hard work that I am willing to do.
I understand that banks themselves are probably not as motivated to sell in bulk in today's market as they were in yester-years (read: 08' downturn) but from what I understand, there seems to always be a consistent stream of inventory liquidation just to get their balance sheets in order - and that's what I am interested in. I am also interested in connecting with other investors for private deals.
I am curious what the take is on the bulk reo market here in 2015? I've read the archived threads on this topic and the conversation seems to have simmered down considerably since 2012-2013.
What about in the meantime 2015? Are the waters just too muddy to lock down good deals? Is the private investor priced out the SFR market by all the Hedge Funds eating up the inventory? Are there any good sources for inventory and bulk deals? Are there any dependable online marketplaces with legitimate product and buyers?
Or is this market all but...dead...at least for the private, non-institutional investor without a connection to the GSE's for bulk deals?
I would love to hear from any members that are currently active in the bulk reo market doing real bon'a fide investing.
Thanks ahead for any replies and my apologies if this is a somewhat polarizing topic here on BP. Again, I am **not** looking for any deals or solicitations. Simply, I just want to get my finger on the pulse for bulk reo investing here in 2015...and beyond.
Thank you!,
Thomas B.