Best way to go about obtaining REO and then what...

[Matthew Rollo]

So I have not yet dove into the REO market as far as investing and wholesaling. I was curious what the thoughts on this would be. Do the banks usually negotiate or is the listing price pretty firm? Do a lot of people wholesale REO properties or is it a better market for actually obtaining and flipping?

Any complaints, comments, concerns would be greatly appreciated!

[Scott Schultz]

I had been an REO Listing Broker for 10 years, a majority of REO, wil not allow "and or Assigns" on the contract, or ant type of assignment, even to another entity the buyer may own. as far as negotiating, some do some dont, and some will at certain times and then wont at others, lots of variables, as for a source for "flips" and rentals, if the numbers meet your needs by all means, and if you need to finance, REO's may be your best option, the best deals are cash deals,, I would say since i became a cash buyer, i have been able to save 10-15% because it opens new markets up, things others cant buy due to the risk, like Sheriff Sales, Occupied sales, and "Cash Only" Deals. Good Luck!