What is the best way to buy REOs

[Manolo D.]

Hello BP, I have been to a couple of walks for some potential clients, I do like the thought of buying REOs, the more years they held it, the better for me. The worst house that needs the worst rehabs is what I am looking for. Since I am a licensed GC from Los Angeles, I would like to break my grounds on investing by buying REOs and rehabbing them, normally I could do everything with 100-150k by doing everything in-house and most REOs have a cushion of 200-250k from ARV. So it might be a good start for me.

Can anyone shed light on purchasing REOs? Maybe I could shadow someone who is constantly buying REOs here, I may not have enough time to shadow full time since I have many projects running at all times, but we can work on the schedule.

Is there someone who regularly purchase REOs or is there an RE group that does that. I am also open to ventures, who/what type of investors am I looking for on this journey?

Thanks.