Hi, I'm a relative newbie from Canada thinking about trying to purchase an REO single family home in the Atlanta area as part of a buy-rent-hold strategy.
I'm just wondering what the Atlanta REO market is currently like - is everything receiving multiple bids now? or are there still deals to be had?
From what I've read on the site so far, it looks like my best option is to find a good broker who deals with REO's. Any thoughts on where to start?
If you contact the banks in Georgia (or surrounding states which may own Atlanta, Ga properties too) they'll give you the direct name & number of the agent that they work with to unload their inventory...
welcome to the site Steve
To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what sides of the city they like/dislike and why. Ask what they see them selling for and what expenses are by category. Ask if they know anything coming up for sale.
To find out the REO brokers search Zillow.com filter lowest price to highest look for keywords vacant, bank owned and corporately owned they are likely REO's. Notice the brokers they usually handle a bunch in the area. When you see the same names they are the bigger ones. Call them ask them who on their staff they want you to work with.
Thanks for the insight Paul!
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