Bank owned Commercial Properties...How to...

4 Replies

Hey BP. I was speaking with a partner/friend and got on the subject of

Bank Owned properties. I have never gone the route of trying to nail

down bank owned properties (specifically related to commercial).

However, I wanted to see if someone had insight on how to go about it or

thing I can do to possibly get into Commercial Bank owned deals. Any

insight helps. Thanks!

Some of the larger banks have an REO section on their website. Check there. You could also develop relationships with the people at smaller local banks that handle the REO properties. They would probably be easier to deal with than someone like B of A because you are closer to the decision maker. There could be some great opportunities. Best of luck.

Lot of it is commercial land or small mom and pop stuff. Larger stuff banks try to workout or work with owner to sell pre-foreclosure.

The banks often push to auction websites to sell.

Originally posted by @Jonathan Orr :

Hey BP. I was speaking with a partner/friend and got on the subject of

Bank Owned properties. I have never gone the route of trying to nail

down bank owned properties (specifically related to commercial).

However, I wanted to see if someone had insight on how to go about it or

thing I can do to possibly get into Commercial Bank owned deals. Any

insight helps. Thanks!

You want to talk to the REO department and special assets manager at the local and regional banks. REO is bank owned special assets is the pre foreclosures. Banks like to get the property sold before it goes to foreclosure.