Are there any wholesalers still flipping REO's in today's market?
I don't know about flipping but we started looking for a house the past few months and most of the ones we liked ( value- wise) werer mostly either short sales or REOs. I don't think you are too late !
@Adrian Rice , while you may not have missed the REO wave, if you are looking to wholesale, I would recommend you look to a different strategy for finding deals. If a property is listed (REO or not), chances are your end buyer has already seen it so you would have to have some sort of remarkable negotiation skills to be able to get it under contract at a price that you could make your fee and the end buyer would getting a deal they would be happy with.
Judging from the REOs the come on the market here in South Orange County, I don't think wholesaling REOs would be an option for me.
Most of the REOs are being listed at or above ARV. Crazy. As such, these properties are languishing on the market but the banks don't seem in a hurry to cut prices. I find this especially true if the lender is an out of state lender.
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