Here is a breakdown of the properties by state:  AL (2),  IL (1), IN (3), MI (58),  MO (28), OH (30), PA (1), TN (11).

All due diligence must be completed prior to contract.

Properties wont last at these prices.  We will pay for referrals, but our dealings must be direct with the buyer.  We are the seller on this transaction.

Michigan properties priced at $2,200 per door.  Ohio priced at $1,950 per door.  Other states range from $2,000 to $14,500 per door.   Based upon mortgage.com valuations properties are priced at 10-15 cents on the dollar.

All due diligence must be completed prior to contract.  3% Transaction Fees to be added to each property.

Properties wont last at these prices.  We will pay for referrals, but our dealings must be direct with the buyer.  We are direct to the seller on this transaction.  Email us for more details.

Current inventory consists of over $1.5 Billion of residential &
commercial properties.

Here are the program parameters:

• $10 Million Minimum.  Smaller orders will be considered & compiled with other smaller orders.
• Your order can be statewide or County Specific.  Pricing is dependent on markets & ranges from 30 for the panhandle upwards to 60 for South East Florida.
• Submit your LOI with Soft Proof of funds & Bank will forward you a confidentiality agreements.  All transactions are direct to the bank.  Once Confidentiality is received conference call can be set up with the bank.
• Residential & Commercial Property available.  Hotels, Condo Complexes, etc.
• Tapes are exclusive to you and are not being shopped to other buyers.

If you haven’t completed our buyer’s application, please click here to complete it.  You can email me here for more information.

We currently have access to low priced national product on an ongoing basis.  The properties are priced under $4k per door.  Send us your requests & we will let you know what we have.

Our custom bulk packages has been a huge success.  However, I’m sad to report that we have had to increase our minimum package size from $1M to $10M.

Bulk Reo Packages – Number 1 out of 3 Million!!

Buy Bulk Reos – Number 1 out of 75,100

Buy Bulk Reo – Number 3 out of 65,000

Bulk Reo – Number 16 out of 520,000

Bulk Reo Tapes – Number 10 out of 1.9 Million

Buy Bulk REO – Number 12 out of 65,000

It’s a real problem in today’s market.  My seller’s don’t want to proof up to my buyers because 95% of the buyers can’t perform.  My buyer’s don’t want to proof to the sellers because most of the sellers aren’t real, they are just rehashing old product.

“Seller’s”  are taking existing tapes, marking them up to crazy prices & then trying to market them.  Or, better yet, inflating the BPO values to 2005 levels!  I had one tape come across my desk where some of the homes were listed for sale on the MLS at $39K & the BPO value was listed at $140K!

“Buyer’s” say they want the product, send me the contract, meanwhile they are trying to flip the tape & make double the money.

“Intermediaries” believe they deserve 1% of the package price simply for providing their source, which is their friend Bob that knows the seller, but Bob is really friends with Tim who knows Sam who knows Tom who is the guy that actually works at the bank.

Buyer & Seller Reps play an important role in this business.  They insulate the real sellers/buyers from all the pretenders out there.  It is their job & responsibility to vet buyers & sellers & ensure they deliver real product.  They may go through 10 or 15 “deals” before they are able to match their buyer or seller with what they are looking for.

So the question becomes how do you separate the real from the fake?  How do you succeed in this business?

1. DO NOT BE GREEDY!  GREED KILLS MORE DEALS THAN ANYTHING ELSE!!!
2. Be Honest, if you are not direct state it.  When it’s time for the fee agreement to be signed everybody will know your true role, why not disclose it up front?  Honesty is refreshing in this business.
3. Do your research & your due diligence.  Research that tape when you get it, use available resources to perform quick value checks.
4. Vet your buyers, make sure they are real.
5. Vet your sellers, make sure they can get “real” product.
6. If you are an intermediary, make the introduction & get out of the way.  Daisy Chains do not work & greed will kill every deal.   If you made a phone call or forwarded an email do not expect to be paid 1% of the proceeds.
7. Sellers Rep?  Don’t be greedy & expect to be paid 2% or 3% because you know the seller.  The buyers have the real power and typically will not pay more than 1% to the sellers rep.  Don’t try to hit the grand slam every time, singles will win the game.
8. Buyers Rep?  You hold the power, the buyer decides who gets paid & how much.  Again, don’t get greedy, 1% is fair compensation for your efforts.

More soon……….

Terms:

• NCND & POF Required to view package
• Fixed price for entire package or cherry pick and make offers
• Cherry picking available. No minimums.
• All sales with QC deeds
• Full amount in escrow to secure the property(s).
• All due diligence needs to be completed in advance.
• Must use seller’s title company.
• First come.  First served.
• 3 pt fee for entire bulk purchase. 6 pts for cherry picking.

If you have completed our buyer application please email me for property details.

To complete our our buyer application, please click here

Recent foreclosure moratoriums by some states, the FDIC, Fannie Mae and Freddie Mac have created a shortage of Bulk inventory in some states leading to a big increase in prices. As these moratoriums end more property will come to market restoring the balance between supply & demand.