Buying from banks with loss share agreements
Hello!
I have recently done some work as a broker for a bank that has taken over another through the FDIC back in 2009. In talking with my point of contact at the bank he explained that they have a loss share agreement with the FDIC and they need to "unload" some asset types before the loss share agreement expires.
I own a few commercial properties and would like to buy more. Does anyone know if there is a good way to seek out banks that have loss share agreements and try to strike deals with them that can be flipped ?
Thanks in advance for your input!
Jason