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Updated almost 13 years ago on . Most recent reply
Where Are You Finding Your Investment Deals?
One of the most challenging things in our business is to find properties we can buy in a consistent bases. I was wondering how are you guys finding the majority of your deals?
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#3 Guru, Book, & Course Reviews Contributor
- Investor, Entrepreneur, Educator
- Springfield, MO
Tell some small banks (even regionals) that you will buy all of their ORE/REOs at 90% of PAR (outstanding loan balance) and see what happens. Now that depends on your market and I don't suggest fooling with an agricultrual banks, but saying the SFRs.
Also, A bank can SUGGEST that the borrower contact you, do the deal with the borrower. They simply say, Mrs. Jones we won't have much choice in this matter in another month. We do know someone who you might contact that might be able to help you but that would be between you and them, but they have solved similar problems like yours in the past...would you like his/her number? Just get the bank on your side, it can be a win-win-win....not a short sale.