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BPOs = REOs Myth "?"
Ok, now that I have your attention, let me share some valuable insight into the BPO = REO myth.Not every BPO gives you the opportunity to get the REO. Truth is, it rarely does. To understand this, you need to understand the BPO process. BPO's are generally ordered after an offer has been submitted on a REO or Short Sale. That's right, after the offer so, obviously you have no chance of getting that property as a REO.So, some argue that the BPOs get your name in front of the Asset Manager....ok, yeah it does but, how many people do you think your are competing with to get the attention of the Asset Manager by using their BPOs? Not the best way to get their attention, if you ask me.Lastly, BPOs give you invaluable experience that REO Asset Managers require. Now this is actually very true. Most of the time, if you are lucky enough to get an interview with an Asset Manager, one of the first question you'll get is, how many BPOs do you do? This is because it tells the Asset Manager how active you are in a particular area and therefore, sheds some light on just how ... more

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