Who is interested in purchasing REO Properties

By
Real Estate Sales Representative with Distinctive Homes Group

REO properties can be purchased in many different ways.  Typically done with a Real Estate agent in your local market who represents a bank in the sale of the home.  There are some excellent deals to be had in this current market. 

Our company sells houses that have not sold using the above methods and the banks just want to get rid of them.  We purchase them as-is at commodity pricing, average 8K per house about 10 cents on the dollar.  We then sell them at 40-50 cents on the dollar.  These houses sell very quickly, usually within six months returning the investor about three times his investment in as little as 30 months.  These homes are typically purchased regionally in bulk from 100-500 at a time.  The cost typically ranges from 1m to 5 m dollars.  We also have an optional hands off exit strategy which is a very experienced institutional property management firm. 

If you are an investor at this level or know of one contact us.  We will send more informaiton.  This is very safe with very high upside.  This opportunity will be here for the next two years of so.  Now is the time!  Looking forward to hearing from you!

Posted by

Dan Farrell - www.dhgfla.com - dfarrell@dhgfla.com - Bulk REO Nationwide Turnkey Program

Comments (14)

Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

Intersting post. I wonder if we can do the same thing here and maybe if we can work with investors in both areas. If you think theree is an opportunity for us both giuve me a shout. Nice post

Jan 04, 2009 04:41 AM
Konnie Mac McCarthy
MacNificent Properties, LLC - Cobb Island, MD
Broker/Owner - VA & MD "Time To Get A Move On!"

My company is trying to do the same thing, yet they are trying to take the homes already purchased by these investors, and listing them not on the MLS, but on a website...for investors to purchase....the only flaw in the plan is that before they will be able to list the homes for his investor, they have to show him 200 DU underwritten approved buyers....

Jan 04, 2009 04:54 AM
Anonymous
Dan Farrell

Charlie, I would love to work with investors anywhere.  We should talk and see if we have some common ground.  Thanks for the words of encouragement.

 

Konnie, Looks like your company is on the right path.  Finding the investor buyers is the challenge but they are out there.  Keep an eye on the REIA groups in your area.  We moved from Manassas to Florida in 1987. 

Our program works on commodity pricing where the market value is not an issue.  We have a company that does the selling nationwide.  They put a sign in the yard for rental rate and 800 down and you can own.  These are most are gone in a few months.  We buy in 100-500 house pacakges.  The firm we use manages institutional investor properties.  They take the rent rate back it into a 15 yr 11% first mortgage that comes back to us as the investment.  This principal also becomes the selling price no matter what the market says.  It typically comes out to about 40-50% value.  Great deal for everyone. 

Let me know if you have any investors that might be interested, we can take care of you too.

Jan 04, 2009 05:12 AM
#3
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hello Daniel,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to you!

-Keith

Jan 04, 2009 02:29 PM
Everard Korthals
---Preferred Lifestyle Advisors--- - Lancaster, PA
Mountain Realty

Welcome to Active Rain. This is a great place to learn and share with others. IF ever you were to have any questions then feel free to contact us and we'll try to help. Please take a look at our blog for links to valuable information in our sidebar that you can use to navigate this extensive network. Subscribing to our blog is also a great way to read our blog straight from your home pages. We also suggest taking a look at the Active Rain Wikipedia group for resources that may be valuable to you. We hope you have a great day in the Rain! All The Best-

Sincerely, Active Castellum ( Castellum Realty llc - Lancaster PA Real Estate )

Jan 04, 2009 03:53 PM
Sasha Miletic - Windsor Real Estate
RE/MAX Preferred Realty Ltd. - Windsor, ON

Hi Daniel, Welcome to AR, Be a Blogholic and start writing your own blog soon on AR. All the best for your RE business. This is the right place for customers, friends, realtionships etc.

Best - Sash

Jan 04, 2009 10:26 PM
Vicente A. Martinez
Prudential Douglas Elliman Licensed Real Estate Salesperson - Woodhaven, NY
Realtor, Brooklyn - Long Island - Queens Homes

Hi Daniel and welcome to active|rain.

I hope you're ready for the foreclosure tsunami that is headed our way in '09. Sounds like you're the right guy for the job. 

There are thousands of tips, tools, and tricks of the trade here. Be sure to check them out. Best of luck and see you around.

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Jan 05, 2009 05:44 AM
Daniel Farrell
Distinctive Homes Group - Sarasota, FL

Everyone has been so kind.  Thank you for such a warm welcome. 

Vincent is right the foreclosure tsunami will be coming hard in '09 and we should see it continue into 2012 as the Alt-A loans go down.  They were much larger than the sub prime situation.  Hopefully we will see some positive market activity (buying) that will stem off some of the decline. 

Our program helps the banks move the properties into the hands of people displaced by the foreclosure problem.  We get the properties off the banks books and owner finance selling at 50% or less market value.  This is a great win/win for everyone. 

It is good to be in a place that is sooo nice!

Jan 05, 2009 05:53 AM
Yvette Gardner
Keller Williams Realty, Spartanburg, SC - Spartanburg, SC

Welcome to the Active Rain community. This is a great site with lots of information.  Have fun with it and hope to see more of your blogs soon!  We have a team of three outstanding full time agents to assist your buyers and sellers in Spartanburg/Greenville, SC.  Let us know if we can ever help. Again, welcome to AR!!

Jan 05, 2009 08:30 AM
Sergio Rebollo Jr.
Real Estate TeamMates - Miami, FL

Daniel....Welcome to ActiveRain.  This is a great community to network with others as well a great place to learn from other's experiences and knowledge.  I've enjoyed it; I hope you enjoy it as well.

Sergio Rebollo Jr.
Exit Prime Realty
Coral Gables, FL  33134
305-582-4062

Miami Short Sale Specialist - Profile

Jan 05, 2009 10:00 AM
Dan Magstadt
Paramount Residential Mortgage Group, Inc - Lake City, FL

Congrats on your first post - Welcome to ActiveRain!!

DM

Jan 05, 2009 02:20 PM
Jean Terry
Keller Williams Realty Spartanburg, S.C. - Spartanburg, SC

Hi and welcome to Active Rain, a great site to network, share, learn and have fun. Good Luck.

Jan 05, 2009 04:31 PM
Morris Childs
PEP source - Spartanburg, SC

Welcome to Active Rain. It just gets easier after your first blog. Just write about what interests you. Give us a call or an email if we can be of service to you! Given enough time and money we can fix most anything!

Jan 08, 2009 09:45 AM