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reo info for real estate pros: REO Site combines Education with Resources - 08/19/07 11:50 AM
About a year ago, I had a stellar idea to start a website that would teach REO Education and also provide a list of companies to apply with for BPO work and listings. Alas, I'm no computer genius nor did I have the time to pursue the idea.
But someone else did! Dan with UniversalREO.com has created a terrific website that will teach you how to do a BPO and also provides a listing of lenders and 3rd party servicers to appy with.
Yes, you'll pay a fee to join the site - however, in my opinion, it's WELL WORTH the … (28 comments)
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reo info for real estate pros: The Upside to REO - 07/19/07 10:21 PM
After reading through my posts about becoming an REO agent, I've had several people ask me why do I do it.
I thought I'd give you my Top 10 List:
1) Steady source of inventoy
2) All the wonderful finds during a trash out
3) Building a business that supports several families
4) Helping a bank/lender/3rd party sell a challenge house ( I LOVE challenges!)
5) Figuring out how to creatively describe a property in the ads, when really I want to say "Buy this dog, PLEASE!"
6) Getting as excited as my Investors when they talk about their plans for flipping
7) Helping investors build their portfolio of … (15 comments)
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reo info for real estate pros: Representing a buyer of an REO property - 07/11/07 06:05 PM
So your buyer wants to buy an REO? I have put together some common need-to-know items for you to inform the potential purchaser. If I've missed something, please feel free to add it! Also, please understand this list is common to MY neck of the woods - it might not apply to yours! :)
(1) Nope, I don't have a PCR ~ The previous occupants did not stick around long enough to fill out a property disclosure report and the current owner (bank, gov't or 3rd party) hasn't ever lived in the house so they won't fill one out.
(2) The property is being … (13 comments)
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reo info for real estate pros: Who's the Seller Behind Door #1? - 04/19/07 08:44 PM
After my postings on So, You want to be an REO agent and How I got Started in REO, I have been bombarded with private emails asking me to share the names and contact info of the companies I work for. Basically, you are asking me to provide you with my seller's name and phone numbers. Can you see how that might make me squeamish? Another REO agent posted her take on this in the REO Group.
I understand where she is coming from. I also don't know you nor do I know the quality of your work. I don't know if … (9 comments)
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reo info for real estate pros: You Don't Scare Me.... How Do I Get Started?! - 03/29/07 12:48 AM
If you read my last post and are still interested in becoming an REO agent, here's how I got started.
I was talking to an agent one day and he said that there was money to be made in doing BPOs. I was brand new and really needed some money fast, so I asked him what was a BPO, how do I do one and where would I find BPO work. Okay, that wasn't the smartest move on my part because that's like asking any agent who their seller is and how to contact them. DUH! He was kind and told me that I probably wouldn't … (115 comments)
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reo info for real estate pros: I want to be an REO Agent... How do I get started?! - 03/28/07 10:37 PM
Based on the volume of private emails I've been receiving, answering this question here will save my fingers a lot of work!! But, before I answer the burning question, let me give you some food for thought.
Do you know ALL that is involved in being an REO Listing Agent? Here's a sample of what we do:
Accompany the Sheriff on EvictionsSecure & Re-key the propertyTurn utilities on in our name Have property winterizedCoordinate the trash out (Some AMs have us store the personal belongings / trash for 90 days+)Ready the property for marketing including making repairs and improvementsPay the bills on all … (148 comments)
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reo info for real estate pros: Marketing REO Properties... Why Bother?! - 03/10/07 11:56 PM
Three years ago as a newbie to BPOs and REOs, I saw a trend in the marketing of REO properties that I didn't like, so I decided to do something about it.
As a starry eyed, seize-the-tiger-by-his-tale kind of agent, I just knew I could do a better job of marketing these properties than the current practice. In 2003, in our market, most REO agents were just submitting incomplete MLS listings and placing signs in yards. That's it - nothing more, nada! Not even a photo in the MLS!
As I would show the properties to the buyers, I wondered why in the heck wasn't … (27 comments)
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Melissa Schnieders
Wichita,
KS
More about me…
Melissa Schnieders Photography
Address: 121 N Mead St, Suite 103, Wichita, KS, 67202
Cell Phone: (316) 390-8397
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