How to find REO by banks

2 Replies

I’ve been getting leads coming from wholesalers I work with, one interesting detail one brought to my attention is that the leads they get come through another investor who stricktly buys bank owned properties and he only wholesales them to other wholesalers. If anyone has had experience with these properties how can I manage to find these myself? 

Any luck with finding the REO bank contacts? Where are you currently flipping? I work with some wholesalers in South Jersey but would like to find reliable wholesalers in North Jersey.

I doubt someone's business model is to only wholesale to other wholesalers.  It's easy to find cash buyers in this market, there's no reason to have some sort of multi-level wholesale marketing campaign to try to find an end buyer.

What's probably happening is that your wholesaler is just telling you about another wholesalers deals in hopes to add a finders fee.  There's nothing wrong with that, but I'm sure it's not the business model of the investor with the contract, he/she just wants a buyer.