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Re: Bulk REOs

Posted by CC in OC on May 08, 2009 at 2:38 PM

In Reply to: Bulk REOs posted by JK (the other JK) on May 08, 2009 at 12:22 AM

I receive an offer of bulk REOs by email every day. Bundles of REOs are out there by the hundreds. Here's an example:

15 CALIFORNIA PROPERTIES
BPO $3,081,000
PRICE $1,047,540
LTV 34%
BUYER PAYS 3 POINTS
SEE ATTACHMENT
AT THIS PRICE THIS WILL SELL FAST!!
CALL FOR ADDITIONAL CALIFORNIA PACKAGES
PLEASE FORWARD TO AN INVESTOR FRIEND

Larry Albert
Innovative Realty Professionals
(7X6) 3X5-1X2X (Cell)

You've got to be careful, though. I checked out two of the alleged deals in the above package. One house is down the street from me. If its current value represents 34% LTV, then I'm the Queen of England.


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