REO isn't Over and I have the Proof.

I have written articles on the drought of REOs and many of you are experiencing the drought personally and have shifted your business but, make no mistake, it isn't because foreclosures have slowed, stopped or the economy is getting better. In fact, most of these banks are moving their REO inventories off their books to hedge funds, bulk portfolio buyers or even worse, shell companies like (fill in the blank) which then dispose of the property directly. Don't believe me? Well, here ya go, read this!

 

http://www.inman.com/wire/share-of-unlisted-vacant-homes-hits-highest-level-in-13-years/

 

Now, after reading that inman.com news article, tell me how great this economy is.

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Comments

  • Yes im seeing the hedge funds are buying REO ....Which that leads me to search for hedge for REO...Any one know how to search for the Hedge funds that are buying REO?

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    Jesse

     

    This very true.  I see this all the time in and around North Carolina.

    Several Investors and myself have attempted to buy many of these defaulted and vacant homes for CASH, but no luck.

    All we seem to get is the so called "facilitator" who want a signed ND agreement and Proof of funds before they send us properties to look at. 

    Not a chance. 

     

    Still looking to buy properties in bulk,  We have the CASH, but the properties must have a clear title ( Special Warranty Deed) and vacant. Otherwise, we might go as High as 30 cents on the dollar.

     

    Show us the properties and we will show you the cash.

     

    Tom

     

     

     

     

     

  • Seeing a lot of this.  There are a couple of Hedge funds buying at the courthouse steps here.  They renovate and rent.

  • Yeah, several large hedge funds are buying up the homes in bulk, rehabbing and renting them.

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