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Forums » Bulk REO Discussion and REO Dealmaking » Are you kidding me?

Are you kidding me? Subscribe to Are you kidding me?

3 posts by 3 users

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Louie Frias

Commercial Real Estate Broker · Las Vegas, Nevada


Forum_avatar_avatar-louiefrias

Aug 13 '08, 07:22 AM

I had an *Amazing* conversation today with an attorney representing one of the bigger banks in this country.

I was looking to place a $10m order for a first time buyer of REO product. Although they want my business, the minimum for take down for this bank is $50m. So, time to set the sights higher.

Price points vary greatly geographically as well. When a buyer wants to pay no more than X% on the dollar and the price point in that particular area warrants Y%, that deal may or may not get made.

If the buyer is flexible and understands value of product, deal chances rise dramatically.

If you have any questions, please use the email. I don't get to check this forum as often as I'd like. Thanks.

Hope everyone has a nice day.

Louie Frias

Edited: 06/26/2010 at 05:40AM


Jeff Tumbarello

Real Estate Investor · Fort Myers, Florida


Forum_avatar_avatar-jeff_tumbarello

Aug 13 '08, 08:55 PM

Originally posted by Louie Frias
I had an *Amazing* conversation today with an attorney representing one of the bigger banks in this country.

I was looking to place a $10m order for a first time buyer of REO product. Although they want my business, the minimum for take down for this bank is $50m. So, time to set the sights higher.

Price points vary greatly geographically as well. When a buyer wants to pay no more than X% on the dollar and the price point in that particular area warrants Y%, that deal may or may not get made.

If the buyer is flexible and understands value of product, deal chances rise dramatically.

If you have any questions, please use the email. I don't get to check this forum as often as I'd like. Thanks.

Hope everyone has a nice day.

Louie Frias


Louie,

Most of the banks do not have the cash to take the losses. Offer to have your client borrow some money from them on the homes, and then pay them off. I am finding thru research when they write new a paper, they are easy to deal with, come down to what the market has to offer. Plus you do not know what BS they are doing on their balance sheet. I emailed the FDIC and asked them about loan loss reserves got back an interesting email. The smaller banks are who to play ball with, they can not step to the old Fed Window. They have to sell stuff to make payroll right now.

It's all about the payroll...........

Edited: 06/26/2010 at 05:40AM


Trevon Wilson

Real Estate Consultant · elk grove, CA


Forum_avatar_avatar-treveezy34

Aug 18 '08, 12:51 AM

Let me know how it works out with your order

Edited: 06/26/2010 at 05:42AM




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