Here’s A Great Tip on REO’S
I recently received a call from a personal friend. He knows that I invest in real estate. He also is aware that I have some connections that he was looking for. Now the reason for his call is the most important part. He was looking for a connection that would be interested in and would have the ability to purchase a large portfolio of REO properties. He told me that the purchase would provide properties for $.40 to $.50 on the dollar. The only catch was that they had to pay $10,000,000,000 for the portfolio and they had to provide proof that they could purchase it within 5 days. Yes you saw the correct number of zeros that is 10 billion dollars (thats right BILLION with a B).
Well, I don’t have connections like that but it did get my mind racing and trying to figure out how to get a piece of that action. So I started to do some research on who could make a purchase like that and how could I find them. By the way someone did provide proof a ability to make the purchase and I am waiting to see if it goes through. I am still researching how to find these portfolio buyers because they will definitely want to be selling some chunks of that portfolio to others and it will eventually get down to my personal level.
So you are probably wanting me to give you the place you can go to purchase one or two of these right. Well that isn’t what we do here. But if you will think this through and do some research, you can find these people and make some deals of your own by purchasing some REO’S from them.
Just so that you know, These buyers are selling their portfolio’s out in blocks of 1 to 10 Million and those are all over the place. Perhaps you fit into this purchase profile.
If that doesn’t suit you then try finding those smaller portfolio’s and a cash investor who doesn’t know about these deals. Put them together and get your money bringing the connections together. Perhaps you could get a couple hand picked properties out of the deal.
This is going to be happening for the next few years. Don’t miss out on the opportunity because you weren’t willing to dig a little and find these people.
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