Buyin an REO the day after foreclosure

[John Reaves]

I have several houses that I want to buy that got foreclosed on Tuesday. I called the banks (Cite, Chase, etc) and they have all told me to go through a realtor once they assign them. Is there any way to buy them straight from the bank without the realtor auctions? I know there are alot of investors now buying in large bulk (10s of millions worth).

[Curt Davis]

John,

There is almost no chance for you to buy them straight from the bank or at least that soon after foreclosure. Its like the mafia, you need to know someone or be grandfathered in. Next to impossible. Banks assign the homes to agents and thats just the way it is, lots of red tape.