Purchasing REO Properties

[Nathaniel Sconiers]

Is it possible to purchase REOs soon after the loan servicer has taken possession, but before it hits the general public?

[Chris Seveney]

Nathaniel Sconiers
Absolutely yes. There are thousands of off market REO’s out there. Last week in my newsletter I discussed why an investor or wholesaler should be best friends with a note investor.

I invest in notes and for my non performing notes there is a decent amount we end up foreclosing on. If I foreclose on a property I am in contact well in advance with investors on trying to work a deal to sell it to them off market (and in some instances even finance some of the acquisition for the investor as well).