Are any investors actively buying at trustee sales?

[John G.]

Are you buying at trustee sales? I'd like to hear your story. I'm sure a number of other BP folk would too.

I'm hearing that this where the deals are, but I'm unfamiliar with them. How are you funding your trustee sale purchases? what kind of pricing are you getting? What is your success rate at the sales?

Horror stories accepted too. :D

Thanks!

[Will Barnard]

At least for Los Angeles County, the spreads at trustee sales are very tight these days as price points are high and lots of them get bid up higher than I would ever pay. As such, many investors are experiencing fierce competition and very tight spreads, so I would have to disagree with the statement that the good deals these days are being found there (of course that is not to say that no deals are available, just to say they are few and far between).

95%+ of my deals come from the relationships I have built with REO brokers, asset managers, and other contacts. As with most businesses, it is a "who you know" thing.