Bulk REO's

[Jay Neil]

Okay so I call a number from a bandit sign for rental homes. I figured it might be a potential motivated buyer so I made contact. Ends up being a Real Estate agent. I shoot him my spiel about being a local investor looking for a good title company and some cash buyers. We exchange email addresses and its all cool. Later on he sends me an attachment with a few pages of properties, a rental application and a criteria form for approval. So not trying to look green I say "are these "INVESTMENT" properties?" He replies "they do sell packages for investors". Now I'm still new to the real estate culture so i don't really know what this means. Is this a bulk REO type of opportunity that fell in my lap or is dude just sticking to his own agenda?

[Steven Stokes]

Some Realtors sell packages, as in, 5, 10, 15 houses at a time. He's probably feeling you out to see if you're serious or a time waster.

I'd say pay him a visit, have a solid reference sheet with you that has deals you've closed, investors you've worked with and of course your current POF.

What you don't have, partner with someone you know that does have it. The more solid you look the more attention you will receive.

Agents like working with people who have their ducks in a row and who they feel can close. That's the only thing agents want to know when working with you is CAN THIS PERSON CLOSE! If you show them you can close you will have a best friend.

If you look like a newbie or a tire-kicker you will barely get a call back.

Hope this helps and good luck.