I recently post a blog about what it is I have been up to lately and it generated a few nice responses. I asked myself well why only a few people responded? Well I think I have it. I have been in or around the real estate business most of my adult life about 14 years now. I spent a good part of this time as an investor looking for great deals. Now yes other agents out their reading this I'm sure you just laughed. Why? Well we as agents hear all the time I want a great deal. So in response we always ask the client "so to you what is a great deal" only to have the look of a deer in headlights from that client and what seems like an hour of silence.
Yes most people want a great deal but no one can usually define it well I'm here to say I have been running across great deals left and right. Now the people that will invest in these great deals are not your average home buyer looking for a single family home but the investors looking to make money in the down market. I have been involved with bulk REOs (let me define this for some Real Estate Owned) properties foreclosed on by the bank and now the bank owns them.
I have been doing working with seveal seller mandates for about 8 months (at the time of this blog). I have and still am an investor so I used to define a great deal to me as something I could buy at .65 on the dollar or less. I think most every investor would agree this is a pretty good deal one that you could turn a profit to say the least. Now time has turned and I even think that .65 on the dollar will just not cut it unless I'm in it for the long term 60 months or more.
So when I stated to work on these bulk REOs .65 on the dollar was a great deal and I'm only talking about 8 months ago. Well to get more of you out their to raise your hand and start beating the bushes to find your investor clients that have the deep pockets to buy large deals I'm going to post what is currently available. So here is what is available as of today (12-10-08) now these will disappear in less than a weeks time and of course new stuff will then be available but I want you to see what the deals look like.
I can attest to the deals I have seen them close so I know that once someone responds they can close and close quickly. I have seen many emails of these deals and yes I called or replied to see if we could get them only to find out after trying 25 people at the bank that no one had a clue as to what I was talking about. So if you have interest call 813-943-8983 or reply to this and lets see if we can get one of these done for you.
We have several other REO packages available throughout the U. S. spend a few moments to take a look at the list, and if there is a particular package you or anyone you know would like more information on please call and submit proof of funds along with a letter of intent and we will gladly get you the list with additional information.
1) 27 homes in Florida
BPO 2,017,970
(BPO = Brokers Price Opinion; translations this is what the bank deems the value of all these homes together, TIP - Remember that most REO properties that banks are selling are usually a good deal to start with. Why? Banks want to sell them quick)
Price 850k
2) 481 homes in Florida
BPO: $72,996,019
Price: $30,198,407
3) 105 homes Nationwide
BPO: $6,648,170
Price: $2,750,000
4) 114 homes Nationwide
BPO: $7,033,914
Price: $2,295,768
5) 138 in the Midwest
BPO: $11,040,000
Price: $2,294,472 + 3 points
6) 24 homes in S. C. (SFR, duplexes, triplexes, quads)
BPO: $960k (income-producing @ $6k per month)
Price: $450,000
7) 24 homes in the Atlanta area
BPO: $2,823,000
Price: $899,000
8) 44 homes Nationwide
BPO: (no bank assessment available)
Price: $591,000 + 3 points
($13.4k per home)
9) 91 homes Nationwide
BPO: (no bank assessment available)
Price: $984,722 + 3 points
($10,821 per home)
10) 249 homes Nationwide
BPO: (no bank assessment available)
Price: $3,000,000 + 3 points
($16k per home)
Now this is what is current but I wanted you to see real figures of what is taking place today and you can get closed. So reply now call 813-943-8983.
Joe Ignat People's Choice Realty Tampa, FL
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