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Bulk REO Packages

Posted on: Tue, 03/08/2011 - 01:22
Bulk REO Packages

So I have 4 Bulk REO Packages and I am in dyer need of a buyer! I have tried marketing it to a hedge fund but they got all excited and has been dragging their feet on paperwork! I am really lost guys I really need to get these things gone asap! They are nationwide tapes that can be taken down by region. All the properties are priced at 30 cents on the dollar! Any advice as to how to get these gone?

__________________


Posted on: Tue, 03/08/2011 - 01:42 #1
ShieldedFuture

Walk away is my advise. No real investor will purchase. Read it's a waste of time. You usually get one good property an the rest are burned out or in areas that AK47s can be heard or trains, or semi trucks on the highway 3 feet away. This is just reality.

Michael Mangham
MD Home Acquisitions LLC

__________________

Knowledge is power, but execution trumps knowledge. Tony Robbins

http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site


Posted on: Tue, 03/08/2011 - 01:44 #2
I forgot to ask

So you have these properties under contract, signed, earnest money down?

Michael Mangham
MD Home Acquisitions LLC

__________________

Knowledge is power, but execution trumps knowledge. Tony Robbins

http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site


Posted on: Tue, 03/08/2011 - 02:00 #3
?????

You were able to get tapes and have no buyers???

Are you the direct contact to the bank........or the man next to the next man next to the man???

PM me what you have


Posted on: Tue, 03/08/2011 - 02:06 #4
Michael is right

Run from bulk reo tapes ~ I tried and got nowhere but the man, next to the man that knows the other man, who represents the another man. lol

elixbrown wrote:
You were able to get tapes and have no buyers???

Are you the direct contact to the bank........or the man next to the next man next to the man???

PM me what you have


Posted on: Tue, 03/08/2011 - 02:11 #5
Not always true

thishousebuyer wrote:
Run from bulk reo tapes ~ I tried and got nowhere but the man, next to the man that knows the other man, who represents the another man. lol

elixbrown wrote:
You were able to get tapes and have no buyers???

Are you the direct contact to the bank........or the man next to the next man next to the man???

PM me what you have



My last two deals were REO tapes. Very profitable. But you do have to get to the direct contact so you don't waste your time and have your financing risk being used by others for their deals.


Posted on: Tue, 03/08/2011 - 02:24 #6
Too many middle people, and restrictions...

I ended up with greedy people on 1 deal that went bust (12 intermediaries), where me and another partner were only gonna get what seemed like peanuts, compared to the rest of the high rollers, lol. Then you had sellers would wouldn't release anything without LOI's/POF's and buyers who wouldn't release anything without LOA's ~ it became a challenge. Now, I'm next to maybe 1 buyer rep and that's about it, eventhough I'm not activly doing any business with her. Now, if it were a good commercial pocketed deal, and I had all the info, it would be a different story.


Posted on: Tue, 03/08/2011 - 03:05 #7
Elix

Did you get a PM or BM?

Michael Mangham
MD Home Acquisitions LLC

__________________

Knowledge is power, but execution trumps knowledge. Tony Robbins

http://www.mdhomeacquisitions.com Seller site
http://www.mdhomeacquisitionsbargainhouses.com Buyer site
http://www.mdhomeacquisitionshousehunter.com Bird Dog Site
http://www.mdlodeals.com Tenant/Buyer site


Posted on: Tue, 03/08/2011 - 15:22 #8
I did not.....

michaelmangham wrote:
Did you get a PM or BM?

Michael Mangham
MD Home Acquisitions LLC

you know how that goes


Posted on: Tue, 03/08/2011 - 15:56 #9
What I do....

thishousebuyer wrote:
I ended up with greedy people on 1 deal that went bust (12 intermediaries), where me and another partner were only gonna get what seemed like peanuts, compared to the rest of the high rollers, lol. Then you had sellers would wouldn't release anything without LOI's/POF's and buyers who wouldn't release anything without LOA's ~ it became a challenge. Now, I'm next to maybe 1 buyer rep and that's about it, eventhough I'm not activly doing any business with her. Now, if it were a good commercial pocketed deal, and I had all the info, it would be a different story.

I've done 5 tapes out of 17 that have come my way

All but two were daisy chain listings. On all I let them know "I absolutely would not sign an NCND that required me to pay you as your fee should come from the seller and that I will not present my buyer financial info if you are not the 1st direct contact to the buyer themselves."

Like I said, 5 out of 17, but those 5 were completely worth it.


Posted on: Sat, 03/12/2011 - 21:53 #10
Pm me what you have I may be

Pm me what you have I may be interested...


Posted on: Wed, 11/16/2011 - 20:13 #11
Where do I locate this Deal Type?

Any idea or nobody does them anymore?

Kunlesky


Posted on: Wed, 11/16/2011 - 20:22 #12
Asset Manager

Basically you need to build a relationship with someone from the distressed assets from a local bank. Once that's established and you can get them to send you a few properties they have on the books and you can get 'em sold, you go from there. That's how you get "Direct" with the source.