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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Other ways to source REOs? Posted by Dennis on January 10, 2010 at 2:32 PM In Reply to: Re: Other ways to source REOs? posted by Buyer on January 09, 2010 at 4:25 PM : : I've made over 20 offers in the last few weeks on REOs in LA county through a few different Realtors. None accepted. The competition is unbelievable. One REO came on line and within 2 hours the selling broker already had 38 offers! Is there any other way to access REOs other than through the brokers that the lender's asset management departments are working with? Any one willing to give a strategy or insider tip? : Alfred, : Its very competitive now that the RE recovery is obvious as prices had overcorrected to half their replacement value. I hope you loaded up your portfolio early last year when all the amateurs were too scared to buy and when there was little or no competition. What was your position on the market 10/08 to 10/09? Forget REO's and find a money partner and work Trustee Sales. There are far fewer morons paying too much. If you can only raise $200-300k go work inland counties from San Joaquin Valley to Imperial. Alfred, a price recovery is far from obvious considering the number of foreclosure that will be this year, they are tightening lending even more, and the debt levels and unemployment levels are staggering. I don't think that spells "appreciation" Follow Ups: Thanks Dennis... Alfred -- SoCal 5:57 PM, 01/10/10 (1) partner in crime Swan 6:51 AM, 05/29/10 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : : I've made over 20 offers in the last few weeks on REOs in LA county through a few different Realtors. None accepted. The competition is unbelievable. One REO came on line and within 2 hours the selling broker already had 38 offers! Is there any other way to access REOs other than through the brokers that the lender's asset management departments are working with? Any one willing to give a strategy or insider tip? : : Alfred, : : Its very competitive now that the RE recovery is obvious as prices had overcorrected to half their replacement value. I hope you loaded up your portfolio early last year when all the amateurs were too scared to buy and when there was little or no competition. What was your position on the market 10/08 to 10/09? : Forget REO's and find a money partner and work Trustee Sales. There are far fewer morons paying too much. If you can only raise $200-300k go work inland counties from San Joaquin Valley to Imperial. Alfred, a price recovery is far from obvious considering the number of foreclosure that will be this year, they are tightening lending even more, and the debt levels and unemployment levels are staggering. I don't think that spells "appreciation" [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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