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Updated almost 13 years ago,

User Stats

475
Posts
141
Votes
Ed L.
  • Residential Real Estate Agent
  • Hattiesburg, MS
141
Votes |
475
Posts

Buying shadow inventory???

Ed L.
  • Residential Real Estate Agent
  • Hattiesburg, MS
Posted

There is a avenue near campus that has 5 vacant homes complete with the winterized notices.

I'm pretty sure they have gone through the foreclosure process and are being held as REO.

The properties were previously used as rental property. I'm guessing investor bought at market peak, and couldn't rationalize the needed interior renovations on underwater properties.. They are worth 25-30K as REO, and will bring 750-850 with light interior renovation.

I'd really like to buy multiple homes on the same block so that I could control the neighborhood.

What would be the most effective method for procuring these homes???

I've got the name of the PO's LLC off the online tax records.... Would the current owners info be available at the tax office???

Just don't know where to start, or if I should just save my time and wait for them to go Retail... Which will probably lead to being **** blocked by incompetent realtors, owner occupants, etc.etc.

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