All Forum Posts by: Anson Young

Be very careful on non MLS private party deals, disclose you are an agent every time.

Some banks wont pay commission to an agent/buyer when buying an REO. They figure getting to buy the property is good enough for you. Like I said, some, not all.

Best of luck!

Anson

I have never heard of anyone getting listings just by signing up (and paying) with REOTrans.com.

REO is hard to break into, the team I'm on only does REO, and alot of them. Relationships, perseverence and determination are the name of the game. Asset managers dont want to work with inexperienced agents who have never even done a BPO, let alone who are broke and wont pay costs for reimbursement. Its a tough game, right now even tougher with lower inventory and more and more agents trying to break in.

All the best,
Anson

Depends on the state rules, I'm licensed in CO and AZ. In CO we dont have to accept verbal offers, in AZ we do.

Check your TX laws, or ask an agent.

Their standard practice will be to refer you to the agent who will be taking the listing and selling it for the bank. They hire the agent so they dont have to talk to guys like you and me directly. Also, you dont know if Fannie transfered the asset to one of 10 different outsourcers (Old Republic, etc etc). If you are persistent enough, you might be able to get somewhere with an asset manager.

CO and AZ have no minimums, I saw just this week an offer come in with $150 EM. I called the agent to find out if they left off a zero, they didnt....

Wholesale them to me! Looking for SFH, or multi, decent ARV, good LTV, etc. Send me what you got!

Also bulk tapes!

PM me here on BiggerPockets!

Lets create abundance!

I was in IT for 5 years, bartender, then found REI. Became an agent and now an REO agent on a team in Denver. Investing in Denver and Phoenix, hoping to go full time soon...

My real estate office is downtown, I live in SE aurora. I have done a few wholesales, am about to sell my first fix and flip. I personally work with a few investors who are having great luck with turnkey rental flips, and another who just buys and holds. Everything is currently working in our market. Now that inventory is down, MLS deals are much harder to find however.

Best of luck! I will keep you and John Klahn on my wholesale list!

Anson

My grandmother said the same thing, then again I was doing door knocking on foreclosures. She has nothing but support now that I am mostly buying REOs. I honestly felt a little awkward with the foreclosure deals, my concience is clear these days.