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Updated about 16 hours ago on . Most recent reply

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Andrew Einsmann
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REO Apartment complexes

Andrew Einsmann
Posted

Any ideas on how to establish relationships with banks so that you can buy Apartment complexes before or after they get foreclosed on?

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Corby Goade
#4 All Forums Contributor
  • Investor
  • Boise, ID
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Corby Goade
#4 All Forums Contributor
  • Investor
  • Boise, ID
Replied

I think your thread is quiet because not many banks do this anymore. In most cases, they hire a real estate agent to list a property, just you like and I would do. If they aren't doing that, they hire an auction comany to dispose of the property. It's pretty uncommon these days for banks to hold on to REOs and wait for someone to come along and take it off of their hands. 

The way most people execute this strategy these days is by tracking notices of defaul and attempting to buy properties from the owners before the lender forecloses, but that's a VERY competitve field. 

  • Corby Goade

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