REO Dealmakers | Part TwoLast time, we began discussing REO’s and the place they cover in the real estate market.  Real estate comps are a reflection of the money to be made in a given market. Today, let’s continue the conversation.

Every once and a while you may come across a bulk REO package. These generally consist of properties that have been sitting, unmaintained for a long time. Banks group these unsold homes together into a package, create a large discount, and offer them for sale as ‘Bulk REO.’

Here’s an awesome opportunity to do your homework. We see packages on a regular basis that request your best offer, and it appears that it may be a great deal. But one must take account for everything before jumping into a deal.  Remember, there will likely be delinquent taxes, HOA late fees, any liens, property repair/maintenance, and pest removal/control.

I hope this information has been beneficial. Come back tomorrow and we will discuss making REO deals happen state to state.

Categories: Real Estate Comps