My "Bulk REO" rants
Everybody claims to have access to "Bulk lists" at 20%-35% of the current "value" and they are just looking for investors. What's funny about this is the people who are willing, able, and aggressively looking to buy a bulk REO list can't find a real one that lives up to the hype.
I like the brokers of brokers that have friends that know the cousin of the CEO of a bank, but fact remains is I'd be stupid to try and go into business with them. Maybe a strip club yes, but not business.
Oh and stop sending me lists and asking for 35% bid, when the houses on the lists are LISTED ON THE MLS for 25% Of what your EXCEL file shows =)
I have officially stopped looking for bulk REO lists as I don't believe they exist.
The money is out there, the lists are not.
If any large banks are out there and are really looking to sell in bulk directly to an investor, I will put money into an escrow account to show how serious I am.
And to the brokers out there, let me know when you want a beer.
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