Bank owner Reia foreclosures

Atlanta, Georgia
General Landlording & Rental Properties
1dFollow

Bank owner Reia foreclosures

Gp G.
Investor · Atlanta · Member since 2019 · 529 posts · 89 votes

hi,
I heard bank owner Reia foreclosure are safe without any issues for my long term buy and hold rental purchase at cheaper price. What are pros and cons of this approach. Please advise

0Reply
158 views

4 Replies

Jump to latestLatest
  • Jeremy White
    Member since 2026 · 17 posts · 9 votes
    13h

    REO homes can be a solid way to buy below retail, but they are not issue free. Banks usually sell as is, so inspect carefully and budget extra for repairs and holding time. Work with an agent who has closed REO deals in Atlanta, because bank paperwork and timelines differ from a normal sale. Are you planning to use cash or a loan?

    0Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    12h

    What is a REIA foreclosure?

    7e investments53 Reviews
    WebsiteView Page
    0Reply
  • James JonesPro Member
    Investor · Collierville, TN 38017 · Member since 2017 · 748 posts · 550 votes
    10h

    Short answer: no house is safe just because of where it came from — general education only, not legal advice. A bank-owned house is still an as-is house until you prove otherwise. I run every deal through the same box whether it comes from a bank, a wholesaler, or an auction list: single-family in Memphis under $100K, rehab that gets me to an ARV of $180K to $265K, finished rent that clears the 1% rule, with 3BR+ Section 8 rent at $1,395 to $1,950, and a DSCR refinance at 70 to 80% LTV that works on paper before I buy. Do your own title and condition homework on any foreclosure, because the discount is not real if the house eats it in rehab. The channel does not make the deal. The numbers do.

    0Reply
  • Richard (Ryszard) Cieplechowicz
    Member since 2026 · 108 posts · 30 votes
    10h

    Plan on the house being worse than the listing photos. Bank-owned means as-is, often with deferred maintenance, sometimes with water damage from sitting vacant. Get a full inspection with the roof, plumbing and HVAC checked, and a sewer scope if it is older. Price your repairs with a contractor bid, not a guess, then add a cushion for the weeks it sits empty during the rehab. Also check the title and any city liens before you close. If the numbers still work after all that, it can be a good buy.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free