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Entering the REO Market

We have made the move and are starting to contact asset managers and banks about listing their REO's. This is a new adventure for us and anyone with any advice is welcomed. We are still in the infant stages of this, but hope to report weekly on our progress. Our searches on the net have been hit and miss, mostly its ad's to join their site (for a fee) and they will show you how to get REO listings. The best luck so far we have had is this community of Real Estate Professionals here on Active Rain that has helped the most. Thanks to all who post and help fellow up and coming agents succeed at this.

Talk to you soon and Happy Monday to all

Bryan & Neilla Vargem

thevargems@comcast.net

Posted by Bryan and Neilla Vargem on 06/29/2009 08:25 PM

Comments (9)

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9 Comments on Entering the REO Market

JUN

Bryan good luck stay persistent it will happen the banks have been slow so hopefully with the inventory coming they will start to pick up a few additional people.

Thanks for the support, do you have advice on how to get in touch with the asset managers in Northern CA?

JUL

REONetwork is expensive but has worked for us. Are you out there doing a million bpos?

Hello Brian,

REOs are a good niche to get into. Good luck to you in finding those asset managers and banks that are giving out those listings. I have been looking for those resources myself so if you can share any info you find, that will be greatly appreciated.

JUL

Lucky Star

Where are you located? Our goal with this is to give our direct success to others here on Active Rain. Every thing I have read always takes us back to a site that asks for the cash to get any information. Then most of them just give you a generic list with contacts (general numbers) and not direct lines to the decision makers (asset managers). We will report weekly on our progress so please check back

Bryan & Neilla

Hi Bryan, You'll need to sign up with Res-Net. They are an online management platform that all of the asset management companies are going to. Next try sending your resume to: Corporate Office: LPS Asset Management Solutions 10385 Westmoor Dr., Suite 100 Westminster, CO 80021 800-430-3320 720-566-8100 Fax Office Directions Hotel Directions Other Phone and Fax Numbers: 720-566-8100 Fax 720-566-8960 W-9 Fax 720-566-8132 Resumes or AMS-Resumes@lpsvcs.com This company was slated to get about 700 BofA REO's per month to dispose of when the lenders decide to finally open the floodgates. You can go to their website and under the contacts tab click on asset marketing and you will see about 200 asset managers along with their phone, fax and email but I caution you that directly contacting these people is generally counterproductive. They are extremely busy. They get dozens of agents daily trying to do what you are doing. Your emails will be deleted or go to spam. It is better to contact them by phone and email your resume to the appropriate address; in this case, AMS-Resumes@lpsvcs.com. The point I'm making is it is not hard to get asset managers names and contact info. What you really need to do is get your name into their systems as an agent and offer to do BPO's, bi-weekly inspections, or whatever. You'll eventually get a listing.

JUL

Good luck,

Be prepared to work 24/7...and I mean that. I would sign up with reotrans and resnet.

Shayne

Thanks to all for your comments, (especially you Rudy Detgen) I will take all your advice and apply it. I know I have the right team in place to handle the work. As far as 24/7 I work them hours now so that should fit right in....

Bryan & Neilla

Happy 4th of July

Bryan,

I'd like to introduce you to my company...REO Intelligence. We have all of the direct contact information (direct email addresses and direct line phone numbers) that you will ever need.

You can check out our website here: www.reointelligence.com

Our AR blog: http://activerain.com/blogsview/821094/lets-discuss-generating-reo-and-bpo-business

To grab some free bonuses including a 400+ REO company list and to join our weekly audio REO newsletter: http://www.reointelligence.com/Free_Bonuses.html

And

To check out some of our testimonials: http://www.reointelligence.com/testimonials.html

PS. We also provide an in depth Prospecting Manual and One on one coaching.

If you have any specific questions contact our support by phone or email or post on our blog that i gave you above.

PS. Remember that we provide free updates for any company contact lists we sell. Nobody else can offer this.

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