For sale, I have a portfolio of Bank REOs in Detroit consisting of 100 properties for $1M. This equates to $10K per REO and for investors this a great opportunity to turn a profit, as the stock market is not performing. There is also a lot of potential to help improve major cities facing economic distress.

Bank REOs in major cities with a high rate of foreclosures are being offered at greater discounts. This is after the foreclosed properties have been priced to sell below market value. On the other hand, most banks expect their REOs to be sold at market value with no discounts. With a little rehab REOs can be sold for a quick profit. Investors are encouraged to place small orders to gain confidence with their REO purchases.

The necessary documents to begin the process include:

Mutual Non-Circumvention/Non-Disclosure Agreement
• Letter of Intent
• Buyer Profile
• Proof of Funds

As there is a high demand for Bank REOs, investors need to take immediate action. Some have seen their REOs under contract by other investors while delaying the process by only 48 hours. Laws are being passed to prevent the escalation of foreclosures and soon this investment opportunity with a high yield potential will not be available. Or not available at the volume discounts currently available in declining markets.

Please contact Imran Khan, Chief Marketing Officer with Property Research and Resolutions for additional details.

Imran Khan
651-230-4889
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Related posts:

1. Nationwide REOs at Volume Discounts
2. Realistic Pricing for Bulk REO Investments

However, investing in REOs can be a simplified process when dealing directly with the banks and other lenders. The majority of banks and lenders don’t allow for the sale of REOs in bulk. That is why working with a seller’s agent is instrumental as they can offer greater discounts (15% or more), Nationwide REO portfolios, and quick responses.

The problem is that finding a seller’s agent is nearly impossible and there are a lot of imposters on the Internet. In addition, some agents only want to deal with REO portfolios in the $10M or greater range. This provides a strain on some investors who then have to go back to purchasing foreclosures on an individual basis.

As a seller’s agent, I have direct access to Nationwide REOs at volume discounts throughout the United States. After an investor provides the necessary requirements, within 24 hours an email with the REOs is delivered for review (Please allow for a minimum order of 5 REOs and $500K). Upon receipt investors identify the REOs that are of interest and they get presented directly to the bank or lender.

Indeed, investors can select foreclosures throughout the United States, place small orders to feel comfortable with the process, and actualize greater discounts than on an individual basis. This is a simplified process that should be taken advantage of by Nationwide REO Investors.

Please contact Imran Khan, Chief Marketing Officer with Property Research and Resolutions for additional details.

Imran Khan
651-230-4889

See also: Bulk REO Investment Requirements

Related posts:

1. Bank REOs – 100 Properties for $1M
2. Realistic Pricing for Bulk REO Investments

Banks are receiving on average 85% of the list price (which is the market value established by the REALTOR listing the property) for an REO property selling on an individual basis. As a result, most of the leading banks don’t offer their REOs at bulk discount pricing.

On the other hand, banks that I work directly with are willing to offer REOs in Bulk (Four or more properties and a minimum purchase price of $500,000) at a rate of 70% of the list price.

The misunderstanding is that REOs sold in Bulk are selling for less than 70% of the list price. These deals are being advertised, but the there are no results. Investors are disappointed by misguided expectations for pricing of Bulk REOs. This process becomes agonizing as prices are promised, but the investors end up waiting and given multiple excuses as to why there are no properties. The investors eventually move on and expect the same pricing offered by those that didn’t have any access to REOs.

On a positive note, I have direct access to REOs throughout the United States owned by two of the leading banks in the world. If you are seeking to purchase REOs within a geographically specific area or a variety of states, I can facilitate the process. Basically, I put together an REO portfolio that meets your requirements and then you have an opportunity to select the properties that are of interest to you. After that, I present the offer to the bank and they will accept at 70% of the list price.

From my experience, the banks’ goal is to work with the buyer(s) and make this process as transparent as possible. They want the buyers to be satisfied as the banks have reputations to uphold. As a result, the banks provide an opportunity for due diligence to reassure the buyers and allow for the cancellation of the contract.

The profits are there to be realized and investors are receiving a 15% discount price on average per property by purchasing in Bulk. Again, the portfolios are direct from two of the leading banks in the world.

If you have any questions regarding the purchase of REOs in Bulk, please feel free to contact me at any time.

Thank You,
Imran Khan, CMO
Property Research and Resolutions
651-230-4889

Related posts:

1. Nationwide REOs at Volume Discounts