How I Got Started In Bulk REO

Bulk REO Real Estate Investing

It seemed to be a good morning the young real estate investor stood in the flesh in front of the mirror. No wispy spirit, this was a man in the flesh,  bone, muscle, and brain. The morning light shined in his eyes and his eyes shined back.

The man swore; "This is the day it all makes sense! All the hard work is going to pay off!"

His mind wandered as he tied his tie. I'm getting rid of this sport coat! Something much more stylish fits me. Maybe a long over due vacation, back to Colorado he thought.  Still day dreaming on the way to work. Maybe I'll get a new car?  But I'm keeping this Toyota!

The phone rang a voice on the other end said. I'm terribly sorry to call so early but I just wanted to let you know I can't meet you today. This is quite embarrassing and I don't know how to say this but....  I met with a lawyer over the weekend. and, we'll, I'm filing for bankruptcy so I can't go ahead with the Short Sale. I'm sorry but my attorney assures it's the right thing to do. 

The man hung up the phone and pulled over to the side of the road. His head sunk into his hands. "Boy what you going to do now?" he disclosed.

"It can take up to 1 year or more to do just one short sale deal."  And that's if the planets are in-line.

In the last few years it can sometimes feel like you are Indiana Jones searching for some lost antique treasure. Only for many of us its searching for "The American Dream"  As soon as you start getting close you find out "Darn" "Bum information"

Then you get to back track and get back on the trail. Make things solid again. That was me three years ago. I had spent thousands of dollars learning how to hunt down short sales. That when I found out:

"Just like Edison finding out one more way not to make a light bulb. All my work was not in vein because luckily for me I had something to go to."

Back in 1991  I bought my 1st REO (Real Estate Owned By Banks) a 24 Unit Apartment Building From a bank. This was the beginning of a two year buying spree where I bought 3 multi-million dollar apartment properties form banks. This was at the end of the Savings and Loans Crash of the 1980's Looking back, I should have stayed with buying bank owned REOs. But, like all good things, the market recovered and all those good deals got sold off. What I went back to is buying REO properties from banks and lenders at deeply discounted prices. I found out that quickly after I contacted these banks they would ask: "How many house do you want to buy?" I'll send you the tape.
I was just looking to cherry pick one or two houses and salvage some of what I learned taking all those Short Sale classes. Just a few weeks before it was taking me a month or more to bring in short sale leads and even more time finding the right properties to invest in.
But now I was getting these tapes with hundreds of houses that I was encouraged to make a bid on the packages.

Talk About A Reality Shift.

Instead of looking for the sellers of short sales one by one.  Banks were calling me and sending me updates on hundreds of properties.  They were chasing me now! This got me into the Bulk REO Business.  And on this blog I teach people the REO  Business. Don't let the word BULK REO scare you.  Everything I teach can work for you even  if you only want to buy one house for as low as five cents on the dollar and avoid all the hassles of doing a short sale.

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Best Of Success!

Mark B. Bradley

St Louis MO USA

Rad More about Bulk REO   Check out my Wordpress Blog Here http://ultimatebulkreo.com