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Updated about 11 years ago on . Most recent reply

User Stats

18
Posts
3
Votes
Alex Huegle
  • Flipper
  • Hamilton, OH
3
Votes |
18
Posts

Capital One Bank REO Help

Alex Huegle
  • Flipper
  • Hamilton, OH
Posted

I'm wanting to see if anyone can point me in the direction of the best way to purchase an REO from Capital One Bank. I'm having trouble finding contacts, or listing pages online or here on BP.

I went and looked at a woman's house for a potential retail flip, but in the end she owed too much to the bank and in liens that the numbers wouldn't work out. I offered for her to use my realtor and fire-sale the property since it needed little repairs and she could end up being debt free, but for some reason she passed on that offer. She also wasn't interested in attempting a short sale and just wanted to go through the process of the bank taking it back. 

I've been following the court case on my local Clerk of Courts site and see that it is now officially in foreclosure. I assume it will still be awhile until this goes through the banks process, but I'm hoping to position myself to purchase this property from the bank since I've already inspected it, know the repairs needed, researched the comps and feel I can make a pretty solid return on my investment. 

Hopefully someone here has experience dealing with Capital One Bank and would be willing to lend any pieces of advice they have. I would greatly appreciate it.

Thanks!

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