Which one, Investor's or Products first?

In the REO world, do you find the Products first or the Investors? Because, I had 2 Buyers/Investors asking me to find them some REO's (within 2 weeks) and when I found the REO packages (through an Agent and the Government) and now my Buyers said they're not ready to buy, and now I'm left on the curb with 2 ready packages from these sources with no Investors, and it's making me look bad to these sources (they're pro'lly thinking that I don't deliver and a person of my word)... Any suggestions and help would be greatly appreciated...

Thank you,
Flo

Edited: 06/26/2010 at 09:41AM

James Hiddle

Real Estate Investor · Altus, Oklahoma

2515 posts
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Icon_minipost Sep 11 '09, 03:41 PM

If it was me regardless if it's an REO or not I would find buyers first. I like to have options in place just in case one buyer doesn't come through.

Edited: 06/26/2010 at 09:41AM

Steve L.

SFR Investor · Rancho Cucamonga, California

828 posts
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Icon_minipost Sep 11 '09, 03:44 PM

We look for great deals only. If it's not good enough to buy myself, I don't put it under contract at all.

If I am turning it to an investor and they end up backing out, I just close it myself.

Edited: 06/26/2010 at 09:41AM

Account Closed

831 posts
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Icon_minipost Sep 11 '09, 03:46 PM

It's probably easier to find properties for buyers, than buyers for properties.

I stole that from a book I just read "Equity Happens".

Tom

P.S. I'd rather have a bottle in front of me, than a frontal lebotomy!

Edited: 06/26/2010 at 09:41AM

Jaime Vasquez

Real Estate Investor · San Antonio, Texas

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Icon_minipost Sep 12 '09, 04:28 PM

Florence,
When you say packages, are you talking about a single REO house or REO bulk/tape/etc?

Edited: 06/26/2010 at 09:41AM

Florence Tauese

Real Estate Investor · Georgia

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Icon_minipost Sep 13 '09, 08:15 AM

Originally posted by Jaime Vasquez

Florence,
When you say packages, are you talking about a single REO house or REO bulk/tape/etc?

Hello,

These are Bulk REO's from 2 sources (through the Government and Attorneys/Real Estate Agents)... I'm currently seeking Buyers to take down these ready packages...
Thanks,
Flo

Edited: 06/26/2010 at 09:41AM

Jaime Vasquez

Real Estate Investor · San Antonio, Texas

45 posts
433 Influence
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Icon_minipost Sep 13 '09, 08:26 AM

Ok, I know nothing of bulk or tape. There is a category for that subject...heres the link:

http://www.biggerpockets.com/forums/97-bulk-reo-discussion-and-reo-dealmaking-forum

Edited: 06/26/2010 at 09:41AM

Joshua Dorkin

BiggerPockets Founder · Denver, Colorado

10630 posts
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Icon_minipost Sep 13 '09, 08:55 AM

Thread moved to Bulk REO forum.

Edited: 06/26/2010 at 09:41AM

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Paul Cordero

· Scottsdale, Arizona

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Icon_minipost Sep 14 '09, 03:13 AM

In the REO world, it's much more beneficial to have investors with inventory. Everyone wants to buy right now.

Edited: 06/26/2010 at 09:42AM

Rodolphe Brun

Real Estate Investor · Pittsburg, Pennsylvania

65 posts
198 Influence
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Icon_minipost Sep 17 '09, 01:31 AM

We are the seller so we don't worry when a buyer back out with have 10 more coming.

Edited: 06/26/2010 at 09:44AM

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4293 posts
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Icon_minipost Sep 17 '09, 04:55 AM

My answer to the original question posed. Product first. If you actually have a good product, you'll find a buyer, either investor or owner user. You may have a buyer, and they won't normally wait. They're impatient and want to buy now, or they'll go somewhere else. Rich

Edited: 06/26/2010 at 09:44AM