Wholesaling Bank REO's. ..how not to get caught in a scam?
Hello BP community,
I was approached by a local broker to help her with some bank reo's in Texas, Florida, and California. I am trying my hand in virtual wholesaling I was trying to get an idea as to where are these properties coming from? The list is about 1700 properties strong and the guy who the realtor got them from is asking for the NDA and deposits as high as $25k. I am not finding any info on the company Getter Done flips, llc. Has anyone heard of them? Bssed out of California? The realtor she is clueless and says she was contacted by the asset manager personally. She in turn reached out to me and a couple of wholesalers to help her with the REOS. My question is how can you tell if you have real reo's from the actual banks? I don't like dealing with daisy chain deals. Some guidance from more experienced investors is greatly appreciated right now .
Z