Bulk REO Portfolios – Bank Owned Properties
When lenders foreclose on real estate, the property must first be placed
for sale through a foreclosure auction. When no one bids on the property, it
reverts back to the bank. Once the bank has ownership, the property becomes
known as bank owned/REO property. Due to the current market, financial
institutions are taking these properties and bundling them in packages called
Bulk REO portfolios. They then sell these portfolios for one flat price. Depending on the states and cities the properties are in, these packages can sell between fourty and seventy cents of the current market values.
REO Direct Buys, LLC works directly with several major banks and trust funds providing our customers direct sources for both REO and Non Performing Notes. Our packages range in price from two million dollars on up to what ever dollar amount you may want. We can handle $500Mil and even 1Billion dollar packages. We work directly with banks and institutions and do not work with broker chains; we prefer to work directly with real buyers. If you are interested in buying REO portfolios you must have liquid funds to invest and be able to move quickly when a portfolio fitting your needs becomes available. We can also pull a custom tape for you based upon your demographics, BPO Values and amount of rehab required.
Many investors are new to this type of real estate investing and therefore may be unfamiliar with the procedures required to purchase portfolios. We try and simplify the buying process for our clients, by providing straight forward information that's easy to understand.
Should you need assistance in remarketing your properties, we will be happy to assist you and have many different options for reselling them at a profit. We can remarket the vacant single family homes for you on our website for immediate cash sales. It is not unusual to be able to sell off 65% to 75% of the property and get your entire investment returned. If you purchase a portfolio that still has some homes occupied, we can assist you with working with the tenants in reselling the property back to them through a three to five year lease option program where they will have the opportunity to work with credit counselors to rebuild their credit. This option would provide you not only with a steady monthly cash flow but with the greatest return on your investment.
If purchasing a Bulk REO Package is something you would be interested in please contact us directly. We can put together mini REO packages for a selected area or larger packages of 100 or more homes.