BiggerPockets

So you want to be able to leverage that letter to gain buyers right?

I am direct with a buyer in Fresno, CA. We want sfr, city of Fresno, Max BPO/ unit = $200k. Total BPO at this time is 4M. But we will want more in Jan or Feb. Are u interested?
Peter

Sean,

Yes I am seller direct. First you will need to change the working order. You will have to deal direct with us with negociated terms with your buyer. You can buy our lists or customize a geographic area. POF and escrow follow.

Hi Sean and George,

I am direct to a private seller who primarily deals in Nationwide product, but can do state-specific requests (3-state minimum), and then also gets in portfolios for specific areas, but that is not something you can place an order for. The specific area opportunities come up when they come up. The other NW and 3-state requests buyers can specify what they are looking for.

Only 4 pieces of paperwork are necessary to place an order - an NCND, a Buyer's Profile Sheet, a Fee Agreement, and a soft POF. With submittal of those, I will put you in direct contact with the seller, who performs very quickly and is very easy to get along with. Custom orders placed now would definitely close before the end of the year assuming about 3 or 4 days DD.

Please PM me if you are interested.

Thanks.

I am a direct seller of Bulk REO's nationwide. I have homes across the country, currently most of the homes are in OH and MI but have in other states. My current package has a updated BPO value of (172 homes , mostly single family) 2.8m and looking to sell at 60¢ on the dollar but can negotiate. All via quit claim deed. Let me know if your interested.

Originally posted by George Wagner

What happened to Gary - LOL

Ok Dawn, let's say I want NV, AZ, UT - 5MM - what add on fee can I expect... Tape price +? -

Can your seller supply CA too? ... Will CA cost more, or best to leave it out for an example? Can you send me a sold tape?



Hi George,

This seller will do general NW packages from $5M and up. For the 3-state (minimum) requests, they require purchase prices of $100M and up. They sell those 3-state-specific packages at 45% of BPO value. For purchase prices less than $100M, their general NW packages usually go somewhere in the 40's, but can range in the 30's to the 50's, depending on the exact tape mix. (You can make some specific requests, like "No Detroit" or "Less than 5% rust belt", or even put your state preferences in a general NW request, but those wouldn't be guaranteed.) If you wanted a general NW package of at least $100M, the price would be 37% of BPO value.

That is their general guidelines. That being said, I will ask him tomorrow if he can do a $5M +fees NV, AZ, and UT deal, and see what he says. He is constantly expanding his contacts and sources, so it is ever evolving with what they seem to be able to do.

Commissions would be on top of any/all of those prices above. If you are the buyer, you would only need to pay 1% to cover me in the seller's rep slot. If you are the buyer's rep, then we could do a 2% commission deal, with us each getting 1%. If you are an intermediary, you and any other intermediaries would go into that slot, and the deal would be 37+3, using one of the examples above.

The seller can supply CA when mixed with another 2 states. So you could, for example, add CA to your list of the other states you mentioned, assuming the request would be for at least $100M. He does have very large buyers that he has worked with for many years that he does give CA exclusively to by basically taking down CA with other states and then breaking the tapes up manually to be just CA in one tape and all the other states in the other tape (which he sells to other buyers). But like I said those are for very large and long term clients. He would not do all of that extra effort for someone new coming in, but as you perform, this seller is all about relationships, so it could definitely be discussed after you performed on at least a few deals if everything was flowing nicely.

He will also get offerred on a spotty basis area specific deals (for example he has a FL condo deal currently) that could be for CA, but those just come in when they come available, so there wouldn't be a consistentcy there. I believe that CA product he sells in the 60's, so yes, CA will cost more, either by itself, or it will cause the price of general NW to increase in general.

I can send you a sold tape that I will need to slightly sanitize and an executed Purchase & Sale Contract (with all names, signatures, etc. blacked out), as I do have NCND's in place with all parties, which must be honored.

Hi Sean,

We are seller mandate direct to bank. Due to our strategic banking relationships, you would have the ability to buy REOs in BULK direct from banks at 10-33% of their current market value. Properties are available right now in all 50 states.

Let me know if we can help you.

Originally posted by Lawrence Whipple

you would have the ability to buy REOs DIRECT from banks at 10-33% of their current market value..

Wow!

REO's are now selling for the same discount as a non performing second?

Come on guys........this is getting ridiculous!

Originally posted by Lawrence Whipple

Christopher- Why would I advertise it if it couldn't be delivered? That's a waste of my time and a sure way to ruin rep. We have the track record.

:roll:

Not sure you have been around long enough to know what is real yet so I'll let you continue with fantasy pricing. I'm sure you're doing great so enjoy the fruits of your labor!

I am a direct buyer interested in Bulk REOs in CA. Preferably southern but will look statewide. If this is something you can provide please let me know.

We typically acquire these properties at 48 to 55% inclusive of all fees. I will not work in daisy chains but one sellers mandate is ok. If you can do this let me know.

Dave Woodward
dwoodward@GSPLLC.net