BiggerPockets

I am directly connected to private fund mandate

we need billions worth of bulk reo but the Fund is being very strict. The fund will not move a finger unless the get a LOA Directly from the seller/institution.....so i need you guys to pull some strings and get a LOA directly from the Seller.

We want a LOA, bulk reo no more than .48 cents, residential.

[CONTACT INFO REMOVED AS PER FORUM RULES!]

Here is a private letter from my contact:
"I am working directly with a consulting group who represents a private equity fund from California who is seeking the purchasing of large pools of "BULK" R.E.O. properties owned by the banks.

We've had an institution who had "upped the bpo values" in hopes to make a sale, our researchers caught it, and regretfully the sale did not happen.

We've had an allegfed direct rep from one of the institutions attempt a "double escrow", adding 4% to her self personally, and we then cancelled the purchase. - We don't do double escrows, and the fund we represent has closed on over $5 Billion Dollars in REO purchases already, so they know the "tricks of the trade" .

We've had a multitude of brokers promise they could deliver, and have so far been unable to do so.

We base our pricing on the BPO value, NOT THE ORIGINAL LOAN AMOUNT.

The details of packages of REO large pools of properties they are intersted in purchasing include the following:

*Minimum BPO value per property at $100,000.00.

*Single family most preferred. No vacant lots, no modulars, no PUD 's.

*No properties located within the states of Ohio, Michigan, Mississippi, North Dakota, or South Dakota, or Louisiana.

*Most preferred state: California - we're prepared to purchase all REO inventory available here.

*Secondary Preferences: New York, Illinois, Arizona, Nevada, Texas

*All other States are of strong consideration provided the pricing and value criteria are met

*Due diligence runs on small tapes 7-14 days, large tapes, 14-21 days.

*We are all cash - no financing, close in 24-48 hrs of acceptance of due diligence findings.

*If a mixed "Nationwide tape" is produced for sale, (multiple states), the pricing usually falls into the $.30's ranges. ($.30 cents on the BPO Dollar).

*The fee involved is 3%. This can be paid by the Buyer or Seller, it doesn't matter , as long as stipulated in any final purchase agreement,



Our IDEAL scenario: All California, up to $5 Billion - $100k min BPO value - Light to zero rehab - No Pud's, Modulars, or vacant lots, like for like exchange clause, $2 - $5 Billion - U.S. dollars - take down price - $.40 cents on the BPO Dollar - We can agree to close one of these every two weeks - until your inventory dries up.

These investors have grouped together their funding power to take advantage of the sell-offs taking place across the United States, obviously, who are in need or desire liquidity, at a discount, almost immediately.

The Investor, is in control of funds in excess of $15 Billion U.S. All located within the United States, these funds are ready for "hard proofing" directly to an authorized individual/executive in charge of any verified financial institution's REO assets.

*The Buyer and I would hope to enter into a long term, recurring/revolving agreement with your financial institution.

Our needs, on smaller scales, have been met by two national well known banks. We are currently just awaiting the agreements to be inked from the proper officials. 1 package - all California, $40 million take down price and the other, a nationwide tape at a $300 million take down price.

*We are currently in talks with FannieMae. If in fact they are able to engage in contract with us, our offer may be off the table as they alone have more inventory than any one could handle. My suggestion for any instituion is to not allow for slow, lagging decision making, as we're not moving slow, at all. We are puching forward at exterem

My job is to establish a DIRECT CONNECTION TO THE BANK with the individual authorized to make the decisions regarding the disposition of the REO assetts OWNED, OR UNDER THE CONTROL OF any given financial instituion."

I need you to take a chance and actually beleive that i am connected to this fund and get me some bulk reo...

[CONTACT INFO REMOVED AS PER FORUM RULES!!]

Jeff,

It's that new definition of direct - straight from the internet marketing dictionary:

direct (adjective) : 1. Contact who knows contact who knows consulting group who is "mandate" for private equity group who believes they deserve and will command +3 on all deals for CA inventory at .40 on the dollar. See definition of "pipe dream" and "daisy chain" for details!

Good Luck!

Funny Harrison!

So now the guy who loves to bash people is a "direct connect" to bulk REO.
Another joker in the making. Lets see how long this thread gets and how many defense posts are implanted to "convince" us all we are all wrong and he really is direct.

This subject is like watching the same re-run on TV over and over and over and over again!, and again, and again . . .. .

Take some risk? Investors do not like risk. We like reward.
Seems to me we are being asked to take some wasted time, not risk.

Several of the pros in the bulk world have made it quite clear that billions of dollars in bulk transactions do not happen from internet marketers and wannabie direct access claimers. It has not happend and NEVER will.
Think about it, if you had a billion dollars at your disposal, would you ask some wannabie to find you product over the internet? Give me a break. You would walk right into the banks product desk with your billion dollar account value and say I am ready to buy, what do you have. You don't have a bunch of happy broker chains and wannabies search for you. Get real!

i will have a video flashing my money

dont worry i'll come back and rub it in your face

i will have a video flashing my money

Harrison,

I can't stop laughing. That was hilarious. Nothing better than free comedy!
I remember that photo from the drug bust in Mexico (I believe it was).

Send me that photo buddy, I want to use it for my next POF (just for fun of course)

Is my Swiss bank account good enough for the POF?

How about my direct connections at AIG?