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BULK SALE FORECLOSURES

By
Mortgage and Lending with United American Mortgage Corporation 407952

The truth is BULK REO does exist! For most it is like trying to find a needle in a haystack. What makes it difficult when you are really doing it is to establish trust. Many true investor have been lead down the road nowhere.  Most of the actual sellers are clearinghouses because the banks do not want to move REOs in BULK direct to the investor/consumer.  The first strategy is to localize and capture the highest price through Realtors that are able to perform. When this doesn't work they may consider selling in bulk.  I encourage you should you stumble on this blog to try, just be upfront.  Work indirect with someone who you can confirm is working in BULK REOs.  It is a hard thing to do.  Soon I will be publishing with consent testimonials and maybe grant direct contact with my most solid buyers.  It is my hope in the short time this arena exists in its magnitude to set a standard for an ethical process model.  You are welcomed to read my blogs for tips and advice.  I have become overwelmed lately so call or e-mail only if you are an investor or investors rep. looking to buy. 

Thank you and Goodluck!
 Andrew Clemente
 mme2000b@yahoo.com
 cell: 949-677-6394

Comments(3)

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Maya Thomas, Broker
Tampa, FL
Please see my client recommendations.

What do you consider bulk?

Mar 14, 2009 08:11 AM
Andrew Clemente
United American Mortgage Corporation - Anaheim Hills, CA

That's a good question!  For our consideration Bulk is typically multiple properties coming from one seller, either institution or private.  We deal in mostly transactions of at least $1M or higher.  Some sources will permit only $5M or more.

Mar 15, 2009 06:25 PM
Jimmy Cooper GRI
Carousel Realty - Dyersburg, TN
Real Estate Broker, Dyersburg Tennessee

So I had heard that a local community bank was considering a bulk sale of 30 vacant homes.  Of course, my ears perked up.  Still networking with all my connections to get involved as a potential buyer or broker.  Got advice for me?

Mar 22, 2009 04:40 PM