BiggerPockets

Unicorns, Sasquatch, Centaurs, Bulk REO Deals . . . they all seem to be mythical creatures.

I've started this discussion because I'm pretty convinced that we will be terminating the BP Bulk REO forum and will require any Bulk posts happen in the BP Bulk REO Group. That said, perhaps you could convince me otherwise . . .

If you've closed a bulk REO deal, we want to see proof. To be honest, I have no idea how you're going to do that, but I will not be taking people's word that they have closed one without actual physical proof.

So . . .

Here's the challenge:

1 - If you feel like the Bulk forum needs to go the way of the political forum or dinosaurs, jump in and say so. We want to hear from you.

2 - If you want us to keep the forum alive, I don't want to hear from you unless you've closed a real deal; and if you have, you will need to provide evidence and post it in public.

Well, here's your opportunity . . . does the Bulk forum stay or does it go?

I have a friend's wife's cousin's daughter's maid that is direct to the source for a $1T tape. If only I can waste enough investor's time I can make my .001% commission and be living high on the hog!

I would suggest closing the forum Josh, but I don't believe in unicorns or non-cheating OU football teams :-)

Jeffrey - The entire "Bulk REO" industry is just a bunch of spam, IMO. Sure - deals happen amongst institutions, but I remain unconvinced that these deals are happening otherwise.

Bryan - You too?

James - I've been watching this nonsense for years . . . despite the claim by hundreds to thousands of people that they are doing business in the space, none so far has provided me with an ounce of proof.

do i need to sign a NCND and send over my LOI to respond in this thread? i'd be interested if anyone really did close a deal like this as well

That's my thinking, Jeffrey.

If we've got a forum dedicated to something that for all intensive purposes, doesn't exist, aren't we just as bad as the people who are trying to sell folks on the dream that it is possible to do these deals? The last thing I want is for people to think that BP looks at Bulk REO as a viable strategy for the common investor.

The reason that we created the Bulk REO forum was because we had so many people coming to the site and posting their phantom "deals" everywhere else; we needed a place to put it. In retrospect, we should have just put them in the group . . . .

Bulk REO's!
Military Intelligence!
Honest Politician!
A Real Reality Show!

While they all do exist, their relevance to BP is non existent. Time to close it Josh.

Great feedback guys . . . fantastic suggestion, Darryl.

I think the consensus is in Josh - shut it down, that is my vote too!

Our company buys NPN's, and would welcome the chance to buy Bulk REO. As noted,the Bulk REO arena is like a snipe hunt,largely mythical. That said,Realty Note Bid,PennyMac,Carlton Exchange are authentic clearing houses for those assets... and transactions are made daily.If you want real product,establish real personal relationships with Special loan servicers,trustees and NON-tarp lenders...

Counterintuitively, do you think that closing that particular forum withh prevent people from posting bulk REO offers?

Or will those postings find their way into other forums somewhat randomly?