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Updated about 10 years ago on . Most recent reply

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Manolo D.#3 Contractors Contributor
  • Contractor
  • Los Angeles, CA
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Finding Banks who do their rehab

Manolo D.#3 Contractors Contributor
  • Contractor
  • Los Angeles, CA
Posted

Trying to see if there are bankers or former bankers/lenders out there that do their own foreclosure before selling. I am a contractor in nature and not really have the time to look at deals, calculate, and make an offer, truth is I am not interested unless I get a good backup/split equity partner to teach/walk my hand through it. Anyway, I'm trying to ask anyone who has been with the bank/s who does their own rehab, I have a few community banks on my list and trying to be one of their preferred contractors. My goal is, to try and talk to bank representatives and have me on the list, however, I do not know what to tell them and what they want to hear. These are the questions that has been in my mind, how often do they go and rehab, who/which bank has the most probable large inventory at any given time, what triggers them to do a rehab (code enforcement?), do i send them a list of services/company profile? Any help is much appreciated.

Most Popular Reply

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Rick H.#4 Marketing Your Property Contributor
  • Lender
  • Greater LA/Orange County area, CA
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Rick H.#4 Marketing Your Property Contributor
  • Lender
  • Greater LA/Orange County area, CA
Replied

@Manolo D.You are asking the right question but to the wrong audience.

Go mingle where the mortgage lenders and services are found.

Try MBA, the local chapter of United Trustee Assoc, and wherever assets managers go (probably bars). 

You need to be around people who need your skills and services, not people who talk about deals they can find.

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