I am a new investor that just relocated to South Florida. Ideally looking to house hack a multi-family unit in the Fort Lauderdale / Miami for my first property. The inventory is not great down here right now so also open to a deal on a SFH. Not much luck on the MLS...
Anyway, I was at a BBQ last week and met a real estate investor from Louisiana and he said to try calling around to local banks and getting on a distribution list for their REO properties. Does anyone have any experience doing this? If so, any tips??
No value. They all are already on or will either hit the mls or the large REO auction sites. Most won’t put you on an update type list.
I’m not any distro lists (though good idea), but have come across this on BP: https://www.biggerpockets.com/rei/bank-owned-reo/ It’s a nice start and has all across the US
Thanks @Aaron Winters
There is not going to be a bank REO list. You can get on some wholesaler lists but they are generally in C / C- areas as the market is a bit overheated at the moment. Candidly, if I was going to house hack, I would work this backwards. Figure out where you want to live exactly. Drive for dollars. Send out letters multiple times . See what you can do.
If that doesn't work, you may just want to find something that you like (home first) and as long as it net cash flows get your feet with something like that.
Whether house hacking will work down here really depends on what you want realistically.