Local Bank REO Departments Aim To Please
I have recently contacted my local banks and got in touch with there asset recovery division. Most of them were very informative and gave me all the info that I wanted and are sending me there property lists and bidding requirements. I did find one that said they had nothing right now wich I found hard to beleive but hey you never know. Obviously when purchasing an REO you get a clean title and other obvious benefits but you arent getting much of a discount to m/v but if you have a few clients on the ropes this may be a good way to solidify those relationships and prove your ability and that you have the market savvy to locate and find a good deal. I have just sent out my first round of intro letters to preforclosure list of about 30 names in about 3 days im going to start calling and knocking on doors in my quest for the "MOTIVATED SELLER" lol. I`ll keep you informed and other comments on reo`s as a supplement to your business whatever "niche" you specialze in please post your experiences or war stories about reo investing .
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