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Forums » Bulk REO Discussion and REO Dealmaking » Bulk REO's

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Brian Colbert

Contractor · Dana Point, California


Forum_avatar_avatar-colbrooksinc

Feb 26 '11, 10:25 AM

I have been putting some thought into bulk reo's lately. However I have found that in the tapes that I have been told about, the deals are really not any better than what is listed on an mls! Well baybe a tiny bit better but not anything major. Am I missing something here? Does anyone have a real world example of what a tape may be looking like. I had one guy trying to offer me a tape for Georgia with homes around 9K, I see tons of them on craigslist.


Greg Schickedanz

Real Estate Broker · Highlands Ranch, Colorado


Forum_avatar_avatar-greg_in_denver

Mar 05 '11, 12:01 AM

I hear this a lot lately. What is happening is; many institutions and secondary buyers/funds are selling both bulk and through the MLS to 1st come 1st served buyers.

So in many cases now, just because a property is "listed", does not mean it's retail pricing. I hear a lot of complaints from buyers that we are asking retail simply because a property is listed - not the case (from the sellers we work with anyway).

Buyers are going to have to get a grip on the fact that all sellers now are utilizing all avenues of exposure to sell their product. Just because it's on the MLS doesn't mean the pricing is retail. While I'm on it - it also doesn't necessarily mean you are going to get a full closing with pro-rations and clear title either. Depends on the seller, price and deal details.

Have fun!


Andy D.

Real Estate Consultant · Indianapolis, Indiana


Forum_avatar_avatar-eclipsereo

Mar 05 '11, 02:27 AM

The world of Bulk REO buying can be tricky and you're right, not every deal is a great deal. It often depends on a variety of factors, such as if you're buying directly from a financial institution or if you're buying from an investment group that bought a large tape and are now re-selling it in smaller parts.

The size of the tape that you buy has a direct impact on the discount you receive in most cases. If you're buying $10M you're going to get a bigger discount than if you're buying a small $500,000 tape.

I have learned a lot about bulk buying and selling over the past three years and would be glad to share what I know and answer any specific questions, but don't want to take up a ton of space here. Please feel free to e-mail me at the address in my signature?

Good luck everyone!!!




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