REO packages via Wall Street?

How realistic the buyers and/or sellers expectations are. I.E: I'm going to barf if I get one more request for CA at .50/$ or "I've got a trillion for sale", etc.

How capable (real and have $'s) the buyer is.

Let me know if you have anything specific in mind.

Greg S.

Edited: 06/26/2010 at 09:52AM

Nate Hananger

Renter · Santa Monica, California

39 posts
248 Influence
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Icon_minipost Sep 30 '09, 06:24 AM

Hi Greg,

My question was more general since I have only heard of such transactions about two or three times and I prefer to study a little (i.e.: procedures, laws, etc.) before taking a new avenue.

I suppose one question would be: how would a seller benefit from selling an REO portfolio via Wall Street rather than going straight to a buyer?

Edited: 06/26/2010 at 09:53AM

Jeff Tumbarello

Real Estate Investor · Fort Myers, Florida

949 posts
3130 Influence
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Icon_minipost Oct 01 '09, 06:35 AM

Please define Wall Street?

Edited: 06/26/2010 at 09:54AM

Christopher Lippincott

Real Estate Consultant · Little Town, Oklahoma

690 posts
382 Influence
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Icon_minipost Oct 01 '09, 11:39 AM

Originally posted by Jeff Tumbarello

Please define Wall Street?

I'd get banned

Edited: 06/26/2010 at 09:54AM

Will Barnard

Rehabber · Santa Clarita, California

7238 posts
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Icon_minipost Oct 01 '09, 12:44 PM

That's funny Chris!

Edited: 06/26/2010 at 09:54AM

Will Barnard, Barnard Enterprises, Inc.
E-Mail: info@barnardenterprises.com
Website: http://www.barnardenterprises.com
info@barnardenterprises.com

Nate Hananger

Renter · Santa Monica, California

39 posts
248 Influence
2 Awards

Icon_minipost Oct 06 '09, 05:44 AM

Originally posted by Jeff Tumbarello

Please define Wall Street?

That's basically the same question I'm asking.

Edited: 06/26/2010 at 09:57AM

Nate Hananger

Renter · Santa Monica, California

39 posts
248 Influence
2 Awards

Icon_minipost Oct 09 '09, 04:49 AM

Okay...I finally got someone on the phone to give me a little more info.

He pays $900K a month for a trading seat on Wall Street from which he bids on properties for clients. I believe (but am not certain) that he has a Series 7.

Lenders go through him for the convenience of selling quickly vs. waiting for brokers to deliver. They sacrifice money for time.

His fee is a fixed amount of $500K so the transactions he specializes in are quite large.

That's all I have.

Does anyone know anything about acquiring property this way?

Edited: 06/26/2010 at 09:59AM

Jeff Tumbarello

Real Estate Investor · Fort Myers, Florida

949 posts
3130 Influence
6 Awards

Icon_minipost Oct 11 '09, 10:54 PM

Nate,

All you have to do is call any company that owns/trades securitys and ask to speak to their product desk.
Wall Street also has certain companies which will conduct offerings for other companies as well.

The 900K a month seat to buy houses? Why would you do that when you have a 15 minute advantage on the rest of the stock traders not on the floor.

Edited: 06/26/2010 at 10:01AM

Nate Hananger

Renter · Santa Monica, California

39 posts
248 Influence
2 Awards

Icon_minipost Oct 12 '09, 01:17 PM

Jeff,

I haven't done anything yet. Still reading and asking questions.

And just to be clear - are you saying that all or most of the major companies that trade securities have a product desk that exchanges bulk real estate via Wall Street?

Edited: 06/26/2010 at 10:02AM

Rodolphe Brun

Real Estate Investor · Pittsburg, Pennsylvania

65 posts
198 Influence
2 Awards

Icon_minipost Oct 13 '09, 04:31 AM

Hello Nate,

I don't know about bulk reo through wall street. However I do know that I can help you get bulk reo tape directly through Fannie Mae. Let me know if you want more info.

Edited: 06/26/2010 at 10:03AM

Jeff Tumbarello

Real Estate Investor · Fort Myers, Florida

949 posts
3130 Influence
6 Awards

Icon_minipost Oct 13 '09, 04:34 AM

Hre is a link for Bulk Tapes
http://www.amazon.com/gp/product/B000FP04CO

Nate,
To be brutal. you are chasing dreams. You are dancing around in a world of internet wannabe's. Lots of playahas very few players.

Why are you chasing these deals?

Edited: 06/26/2010 at 10:03AM by Jeff Tumbarello

Nate Hananger

Renter · Santa Monica, California

39 posts
248 Influence
2 Awards

Icon_minipost Oct 13 '09, 04:54 AM

LOL. Great link Jeff.

But with all joke aside, there's a difference between chasing dreams and researching. I can assure you that one thread on BP is the most I've invested in this unfamiliar method of property acquisition.

I compare it to glancing at an advertisement in the paper, when you're really reading the newsworthy articles.

Edited: 06/26/2010 at 10:03AM

Jeff Tumbarello

Real Estate Investor · Fort Myers, Florida

949 posts
3130 Influence
6 Awards

Icon_minipost Oct 13 '09, 04:58 AM

So you are researching closing one?

What is your anticpated outcome at closing 2?

I research everything to a level most would not. I respect what you are doing

Edited: 06/26/2010 at 10:03AM

James Hiddle

Real Estate Investor · Altus, Oklahoma

2515 posts
9267 Influence
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Icon_minipost Oct 13 '09, 05:16 AM

Hey now not a bad price for that tape. I wonder if I can pass that around and get +3 for it :mrgreen:

Edited: 06/26/2010 at 10:03AM

Nate Hananger

Renter · Santa Monica, California

39 posts
248 Influence
2 Awards

Icon_minipost Oct 15 '09, 02:54 PM

Originally posted by Jeff Tumbarello

So you are researching closing one?

What is your anticpated outcome at closing 2?

I research everything to a level most would not. I respect what you are doing

Closing any through the gentleman I mentioned earler won't happen at all if he can't answer my questions. This avenue is more unique that the typical REO or Real Estate sale.

Edited: 06/26/2010 at 10:05AM