Jul 01 '09, 11:56 AMAs we all know, most of us regulars are looking for a TRUE source to scrape up a few deals. I have been searching for product since the beginning of January with little success. I have only found 3 real sellers out of the 116 I have spoken to. Out of those 3, 2 have been hedge funds. Now I realize that the deals are not as good as if I were a real player with a mountain of cash, enabling me to take down say 300 properties directly from the banks. But for us smaller guys (under $1M), it seems to be the only source out there. I challenge every buyer to seek out these funds that hold REO assests and share with the community. I really don't think that we will be tripping over one another, as the community is spread of the entire US. Reason 1, we can all share in the wealth that won't be around forever. Reason 2, less headaches and frustration for all. Reason 3, no more wasted time dealing with daisy chains. Reason 4, the end of the +3'ers on this site unless they can prove that they actually are worthy. If you are a buyer, please give me some input. Another thing, I will start another group that will share any information that we can put together to ease the pain. I will moderate the group, and will guarantee that daisies will be removed from the group. :nono:
UPDATE: New group named "True REO Sellers" has been formed. The group is private. If you wish to join, send me a PM and comment on why I should let you in.
