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Forums » Bulk REO Discussion and REO Dealmaking » Bulk REO's

Bulk REO's Subscribe to Bulk REO's

4 posts by 4 users

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Remy Garcia

Banker · Lyndhurst, NJ


Forum_avatar_avatar-remy24

Icon_minipost Feb 08 '08, 01:06 AM

I have a question for everyone here. Are there alot of people getting the same run around when it comes to producing tapes? In the last 2 weeks I have reached out to sellers (mandates,Direct contacts) and have provided LOi's and POF's, my buyers get hard proofed and no tape. What I am trying to figure out is how do I spot out the wanna bee's and the true Sellers. Can you guys and gals :lol: provide me with some ideas or avenues I can take to head the right direction. Thank You...

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


Shyda Kadar

Real Estate Investor · Houston , Texas., Texas


Forum_avatar_avatar-complier4reo

Icon_minipost Feb 11 '08, 09:06 AM

OH !! Life's experienceing , I'm having a similar experience , you cannot tell if the seller's rep are bluffing , as to how close they really are ?? you just need to keep tracking and like me , you find that next to seller
GOOD LUCK !!!! if you need any help..call me .
This is a industry that we all love first and hate later , but we can't let go....with that said, you'll get there !!! :crying:

Edited: 06/26/2010 at 04:41AM


Christopher Lippincott

Real Estate Consultant · Little Town, Oklahoma


Forum_avatar_avatar-oklahoma1

Icon_minipost Feb 11 '08, 07:06 PM

Why would you proof anything before seeing the product? Even grocery stores give samples of food to get you interested

Simply put.....NEVER PROOF ANYTHING prior to receiving product

It'll weed out 99% of the fake " mandates"

When I get product I immediately create a teaser tape with a removal of info because I know when it gets to the broker chain zoo it goes around the world in 60 seconds

When I get a buyer who has interest I release the whole version

Sellers want to sell........there is no viable reason to not see or get a tape prior to proofing and NEVER EVER release LOI's or POF's to a " broker"

If the schmuck asking for that info isn't an attorney for or the seller direct....PASS IT UP!

There just seems to be a thought process out there that believes that information is OK to shop,

In case nobody here has seen or felt the changes in (lacking) flow....you're in a coma.......but it's a result to the idiocy that infiltrated the secondary market

Hope this helps bro,

Edited: 06/26/2010 at 04:41AM


Rick Goates

Real Estate Consultant · Redding, CA


Forum_avatar_avatar-directreos

Icon_minipost Feb 25 '08, 01:29 AM

You have stumbled upon the number one problem with the whole Bulk arena...who's for real and who is pretending. I feel your pain as we have had similar problems with buyers not coming through! If it were easy there would be 5 Million people trying to do it instead of the 500k that are doing it now!!...might be less just seems that many!!

Good luck!

Rick

Edited: 06/26/2010 at 04:45AM


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