Bulk REOs or bank owned properties are netting many investors great profits in this current season. Finding the right REO package can be sometimes the longest part of the process. It pays for you to know how to analyze these deals using your real estate comps found at InvestorCompsOnline.com.
A good source of deals is to start calling regional banks and credit unions. Just like every real estate or financial endeavor, remember that bulk REO investing does not need a huge learning curve to get involved in. You need some basic training on what to say, how to say it, and where to look and how to exit your way out of the deals.
The first thing you need to do is identify good opportunities. As an investor, it is your job to research banks before deciding to approach them so you don’t waste your time. REO property statistics can be found using InvestorCompsOnline with a simple search.
The large dollar figures involved can be intimidating to a new investor along with the fact that perhaps the process for selling REO’s in bulk is not widely known to the general public. When you receive the list from the bank, you need to do some due diligence so you can present it to potential buyers so that it would most match their profile. Understanding the estimated worth, will help you determine your fees. It is up to you to do the research so it is highly recommended that you take your time doing this before making a final deal to be sure you are selling right as well as buying right!