Bulk REO Properties

17. Nov, 2009 20 Comments

Occasionally bulk REO property lists will fall into my lap. And because you know me, your lap better get ready too.

Here’s what I got:

My friend Trace has a list of 199 bulk REO properties that a hedge fund is offloading. It looks like they’re in Alabama, California, Arkansas, Florida, Georgia, Iowa, Illinois, Indiana, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Missouri, Mississippi, North Carolina, Nebraska, New Jersey, New York, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and Wisconsin.

Click here to download the list.

If there’s a lockbox on the property, the code is “AMER”. If there’s no lockbox, then feel free to break in.  :-)

Give Trace a call when you or your buyers are ready to close at 513-923-6439.

Now, to answer some of the questions that I know I’ll get:

1) I know nothing about the properties other than what’s on the spreadsheet.

2) I’m not keeping this for myself because I only want multifamily deals. Notice how you never see any apartment leads around here?

3) No, I don’t want to partner because see #2.

4) The seller is a hedge fund that I do not know personally and I don’t know why they’re selling.

Do your due diligence and make a deal! If you build in a $2K profit on each house in a flip you just made $398,000.

Have fun! To learn the bulk REO secret language and get a free proof of funds letter, click here.


Bulk REO
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20 Responses to “Bulk REO Properties”

  1. Lynn Reply 17. Nov, 2009 at 2:47 pm

    Bulk REO …… many to do, lots to do, money to make. Thanks, Lynn.

  2. Gwen Reply 17. Nov, 2009 at 3:09 pm

    Thanks for the heads up Susan! Like you, I am inerested in multi family deals as well. Your a gem!!

  3. S, Lee Reply 17. Nov, 2009 at 4:16 pm

    Your Intelligent and give great info always

  4. Jasmin Reply 17. Nov, 2009 at 9:45 pm

    Thank you so much Susan for your support and info!! Sometime rare in this industry! May you continue to inspire and help other people get into this business!!

    Much Appreciation

  5. Marv Reply 19. Nov, 2009 at 10:09 am

    Thanks for info on the REO List. Your site and service
    are quite exemplary. Very informative.
    Any idea who/or how to reach/negotiate with Agent for the
    properties in the REO List?
    Thanks again.

  6. Gordon Reply 27. Nov, 2009 at 7:16 pm

    I am wondering on how I can find the true end buyer for bulk reo deal. I always a friend of a contact of a guy who knows the bulk buyer.

  7. Dave Reply 26. May, 2010 at 2:18 pm

    It’s not your a gem it is you’re ( you are )a gem…

  8. Rob Reply 20. Jul, 2010 at 1:31 pm

    Is this still an active list? If yes, any way of knowing what is still out there and how to establish contact for future lists and buys. Have note/bulk buyers looking for larger packages.

  9. Shiya Umpant Reply 27. Sep, 2010 at 3:28 pm

    Hi Susan;
    Do you know any other seller beside Trace? I also contact him already. I have a buyer with hard proof but we have a hard time getting to real seller for big bulk up to $500 million.
    Thanks for all your help and information you have given us.
    S

  10. LL Reply 07. Jan, 2011 at 9:16 am

    Question pertaining to Bulk REO’s.
    Specifically non-performing notes. Are these notes offered free and clear? Or do you have to foreclose once you purchase for buy and hold?

    • Susan Reply 07. Jan, 2011 at 9:26 am

      Not free and clear. If they are non-performing they are just past due by varying degrees. If you purchase you’ll need to do a workout or foreclose.

  11. LL Reply 07. Jan, 2011 at 10:07 am

    Susan appreciate your fast response! Briefly explain what you mean by the “workout” is on a non-performing note?
    Thanks!

    • Susan Reply 07. Jan, 2011 at 10:24 am

      You caught me having my morning coffee and blogging. :-)

      Workout means you “workout” something with the borrower. Can be a principal reduction and payoff, defer past due payments, etc. Just trying to bring it current and/or get them to start paying/performing again.

  12. LL Reply 07. Jan, 2011 at 11:51 am

    Thanks! Also was do’n the same. Quick two questions.
    1-How do i get the down payment in a Bulk REO deal?(Don’t have the large Down Payment)
    2- “Workout” as in also working out a Short Sale with the borrower?

    Note: Cross referencing and checking some of Ken Rushing’s material in some of these questions. Interested in purchasing your material, impressed what you’ve accomplished and made available at a good value!

    • Susan Reply 07. Jan, 2011 at 12:09 pm

      1. Usually from private investors. Unless you flip or broker the packages then you don’t need any downpayment.
      2. I wouldn’t call a short sale a workout.

  13. LL Reply 07. Jan, 2011 at 2:53 pm

    Thanks again Susan! Last for today, do you instruct(show how?) in your Bulk REO material/coursework how to secure down payment if needed?