Driving For $$$...you find and unlisted REO

3 Replies

When driving for dollars, you find a property that needs some love. Your research reveals it’s owned by a bank but not listed with a Realtor. Is there a way to make an offer on these?

I do not have a specific response to your question but I did encounter that myself in the past. What I did notice is that every single one of those properties had a paper in the windows with info on who to contact in case of a dangerous condition or emergency. At the very bottom it always said- do not call with offers etc. Personally I would start with looking at the tax records to see if taxes are paid and what bank owns the house. Contact their REO department. Who knows? Maybe, just maybe, they will want to get rid of it and you'll be the first one who actually took the time to contact them? It could be an opportunity! I bought a house that nobody wanted because it had mold, and I made out like a bandit. Truth is, it never actually had mold... Everybody just thought it did but nobody bothered to actually test it. I did.

By law REOs are offered to the entire general public when they are for sale.(At least in every state Im familiar with) This can happen through several different means. Sometimes it will be listed on the MLS, sometimes auctioned....sometimes its just listed for sale in the newspaper.

This may sound crazy, I ride my bicycle.

I live in a Smaller town, and I use my phone camera and Google Keep. Works great!

Very convenient, burns calories, saves gas, and just dang fun!

I get a few looks with bike helmet, bright bike shirt, and taking pic's.

Just be careful taking pic's with others around. Police will ask what you are doing!!!!

Safe riding🤑🚴

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here