Looking for advise on buying my first REO Bulk Package.

[Eran Matalon]

Hi Bigger Pocket Community,

I heard about REO Bundles than can be purchased in bulk from banks and started looking into it. I live in The NYC area and was wondering if anyone can share their experience in buying one (either in or out of the state). I would prefer for the properties to be located somewhat close to each other as well. Would anyone recommend doing this? Is there anything specific i should look for when inquiring?

Thanks!

[Dan Barli]

@Eran Matalon that is certainly a good strategy and good way to scale. What market(s) are you looking to do this in? In my experience with REO properties, they are sold strictly as-is and sometimes who "who is." Meaning if there's a tenant/squatter in the property, they will become your problem after you close. Getting inspections on REO properties can be difficult and often the banks don't even own the properties they are selling. So you'll have to be patient while they clear up title issues. PM me and we can talk further =)