REO Bulk Packages: Are All You Sellers Full of Crap?

[AndyJ]

I have a buyer wanting to purchase a small $10M package of residential REO's. I have been sold promise after promise from one BS artist after another. Seems everyone is "direct to 40 lenders nationwide", yet not a one of you has been able to produce. :SM077:
So now I find myself with two weeks waiting time thrown out the window with this last con man, and nothing to show for it except a deal gone sour and my lost credibility.
Is there anyone in this biz who is honest and can produce? If so, please do tell. . .and be prepared to prove yourself to me or don't bother.

[SPIVALAW]

Do you often talk to yourself?

[Debbie]

I have a buyer wanting to purchase a small $10M package of residential REO's. I have been sold promise after promise from one BS artist after another. Seems everyone is "direct to 40 lenders nationwide", yet not a one of you has been able to produce. :SM077:
So now I find myself with two weeks waiting time thrown out the window with this last con man, and nothing to show for it except a deal gone sour and my lost credibility.
Is there anyone in this biz who is honest and can produce? If so, please do tell. . .and be prepared to prove yourself to me or don't bother.

Um, what are you talking about? Did we miss something?

[Randy (SELA)]

Andy has a buyer who has $10M to spend on an REO package.

[ChrisL]

If you want professionals you just have to be patient. The maniacal infestation into our secondary market is nothing short of astounding. I sell/broker/intermediary REO pools depending on the sizes, respectively

10-100M we are the mandate
100M and up we are intermediaries

As an intermediary we will do some due diligence to "verify" the buyer is legitimate. My reputation demands some proof before I deliver a Street direct contact to compile your request(s)

If you have the faith your buyer can proof and can deliver we can assemble or sell a tape we currently hold

As far as the process goes:

- Buyer info and POF needs to be communicated (negotiable based on size)
- Soft POF verification will take place by selling mandate attorney
- Fee agreements are signed
- Tapes will be delivered - within 24 hrs of POF
- Due-diligence period
- Closing period

That's it


I am not a time waster and I expect the same in return,

Chris

[Debbie]

If you want professionals you just have to be patient. The maniacal infestation into our secondary market is nothing short of astounding. I sell/broker/intermediary REO pools depending on the sizes, respectively

10-100M we are the mandate
100M and up we are intermediaries

As an intermediary we will do some due diligence to "verify" the buyer is legitimate. My reputation demands some proof before I deliver a Street direct contact to compile your request(s)

If you have the faith your buyer can proof and can deliver we can assemble or sell a tape we currently hold

As far as the process goes:

- Buyer info and POF needs to be communicated (negotiable based on size)
- Soft POF verification will take place by selling mandate attorney
- Fee agreements are signed
- Tapes will be delivered - within 24 hrs of POF
- Due-diligence period
- Closing period

That's it


I am not a time waster and I expect the same in return,

Chris

Good response Chris!

BTW, welcome to the Magic Bullets Fambly! :SM086:

[ChrisL]

Thanks,

[reobizlady]

Hi Andy,

I am sorry to hear; yet again, about promises not being delivered. Contact me. I work alongside a compiler. WE DO DELIVER!! Email me at reobizlady@gmail.com

[echoicebiz]

I have a buyer wanting to purchase a small $10M package of residential REO's. I have been sold promise after promise from one BS artist after another. Seems everyone is "direct to 40 lenders nationwide", yet not a one of you has been able to produce. :SM077:
So now I find myself with two weeks waiting time thrown out the window with this last con man, and nothing to show for it except a deal gone sour and my lost credibility.
Is there anyone in this biz who is honest and can produce? If so, please do tell. . .and be prepared to prove yourself to me or don't bother.
I have had the same frustrations as well. Sending my investors on a wild goose chase and to find out later that the property has been sold or some other type of trickery. I am in search of a better source as well.
I am strictly New York and have investors with buying capablity in access of 400 Million. looking for Brooklyn, Manhattan, Nassau County Pools.
Commercial and Residential.



CDAgostino@ eChoiceBusiness.com

[dstack]

We are frustrated as well. We have not had a compiler produce as of yet. We have prequalified buyers for packages ranging from 10-100mm. Originally we were looking only in NY and Long Island but we have buyers interested in nationwide packages. If you can provide these packages contact us.

Les Jansson
Mike Joseph
A-1 National Realty
631.841.0330
631.841.0333
fax 631.841.0331

[Jim FL]

Just out of curiosity..........

Hey folks,
I've been a full time investor for a number of years, and done my fair share of deals.
However, watching these threads here, has me intrigued, to a point.
I certainly have no intention of attempting to buy a pool of reo's, (I will buy the occassional single reo, here and there, not often).

I'm just curious, more than anything else.........
What brings you folks into this sector?
Meaning, some post here with lists of reo's, bulk, and others come here with 'investors', with hundreds of millions, seeking to buy the same.
and yet, we never seem to see any of this materialize here online.
I'm sure pools of them get sold, and people do buy them, we just never see any results here, from the postings etc.

So, how are you folks doing with all this?
Can you give the community here a run-down on how your investing works, etc, and frankly, if anyone wanted to get involved, how they might do so?

Not for me personally mind you, but the benefit of the community.......we are after all here to learn etc.

Thanks to whomever can answer up,
Jim FL

[Robert Burns]

I can get you what you want directly from a bank but the problem is in the ltv
that is usually asked for. This bank sells at a fair price and that usually blows
the Wal Mart shoppers right out of the water. Some say it's outrageous.
Last time I looked the packages were sold at a discount, hang onto your hat, of 8%.

[ChrisL]

What brings you folks into this sector?

For me it was opportunity.....

http://globaleconomicanalysis.blogspot.com/2007/12/etrade-marked-to-reality-what-happens.html

[johnthyne]

If you want professionals you just have to be patient. The maniacal infestation into our secondary market is nothing short of astounding. I sell/broker/intermediary REO pools depending on the sizes, respectively

10-100M we are the mandate
100M and up we are intermediaries

As an intermediary we will do some due diligence to "verify" the buyer is legitimate. My reputation demands some proof before I deliver a Street direct contact to compile your request(s)

If you have the faith your buyer can proof and can deliver we can assemble or sell a tape we currently hold

As far as the process goes:

- Buyer info and POF needs to be communicated (negotiable based on size)
- Soft POF verification will take place by selling mandate attorney
- Fee agreements are signed
- Tapes will be delivered - within 24 hrs of POF
- Due-diligence period
- Closing period

That's it


I am not a time waster and I expect the same in return,

Chris
Chris.. I have qualified buyer and will provide pof looking for several packages ranging from single $10Mil to single $300M .. mostly CA but some MN MA CO AZ NV too.. I am very frustrated with the daisy chains out there. I want to deal with someone who REALLY has product and source not more than one away. Not interested in 5 people to get to the seller. John Thyne 805-477-0600 jjt@g-tproperties.com Thanks!! John

[megabucks41]

contact me ernie5662@yahoo.com thanks

[mdav]

Why would a bank sell homes at half the value when they have tens of thousands of agents and auction companies that can get 90%? The market for bulk reo is at 80%, not 60%. And there is no way to pencil those deals so they dont get done.

[Randy (SELA)]

I'd like to hear the answer to that one myself

[NationwideREOprovider]

DIRECT SOURCE FOR NATIONWIDE CUSTOM TAILORED REO PACKAGES

We are not wasting your time by shopping your LOI with the hopes of finding a source/Tape. You can customize your own REO package and specify property type, location, condition and valuation of the properties, even the discount that you are looking for (of course, you need to be realistic in this). We have the best source in the industry by far! We are Direct to the compiler... Whether you need a 10M custom package tailored to your specifications or you need up to a 250B custom package tailored to your specifications we can have you the tape with in 24 to 48 hours, we are filling orders NOW for the end of the year. We can close your deals as fast as you allow us to. Orders are custom filled directly by the banks and not by second hand, marked up portfolios in circulation.
California:
We can go from 46 cents to 50 cents on the dollar
*Depending on volume
*Depending on condition
Min 10M
*Can provide tape 48-72 hours*

Nationwide:
Are max is 45 cents
*Depending on volume
*Depending on condition
Min 10B
Max 250B
*Can provided tape same day*

Serious inquires only.
Please be prepared to provide the following information:

-Contact Information
-Desired Location
-Realistic Discount Percentile
-Dollar Amount
-Letter of Intent
-Proof of Funds
* Signed NCND Agreement between all parties.

You will receive direct access to one of worlds largest holdings companies!




For more information, please reply to this posting with your contact information and I will get back with you. Thank you.

If you are not a buyer but can bring any in, contact me.

NationwideREOprovider@gmail.com

[NationwideREOprovider]

If anyone in general would like more information on REO packages (not just buyers). Email me and I will help you out on what's going on.

[alf1230]

I have a buyer wanting to purchase a small $10M package of residential REO's. I have been sold promise after promise from one BS artist after another. Seems everyone is "direct to 40 lenders nationwide", yet not a one of you has been able to produce. :SM077:
So now I find myself with two weeks waiting time thrown out the window with this last con man, and nothing to show for it except a deal gone sour and my lost credibility.
Is there anyone in this biz who is honest and can produce? If so, please do tell. . .and be prepared to prove yourself to me or don't bother.

I can. Please reply.

Alfred Castillo
CEO
888-425-1230
alfred@castilloinvestmentsllc.com

[dannymaio]

is that what you do?

[Robert Burns]

A 10M package isn't a small one and is worth 10M more than the billion
dollar packages the fools think exist. Sure a 1B package can be taken down
but there aren't any out there. I can offer you all of Citigroup's reo's but you
can't afford any of them, nobody can.

5, 10, and 20M are the real meat and potatoes and some of the suppliers are
going under because of all this crap. 12T! Somebody posted that he had
product form 1B to 12T. That must include every dog house and shanty shack
on the planet.

I'll no longer deal with the unwashed masses because, for lack of a better word,
they are stupid and I won't waste my time telling them that. Because of them the
decent people who would like to get started in this secondary market don't stand
a chance in hell of hearing about anything viable.

Dealing with the sellers or buyers directly is easy because there aren't that many of
them but when you have seven or eight people who know someone who knows
someone else and they're all fighting to get to split 1% of a commission you may as
well pack it all in.

I'll use one intermediary and that's it. They don't take me to anyone but the buyer or
seller. If you can't do that, you don't belong in the game and will never get anywhere.
As far as the real big time goes it stops at 100M and any who dispute that are fools.
Banks don't deal with people, banks take advantage of people.

[megabucks41]

yes what is it that you do to prvent circumvention, I have a room full of NCND and have had deal fall apart because people have tried to go around and screw people over. What do you do to stop your complier from selling to another buyer even when you buyers have proofed up and are ready to go then there is no package. if you have a way to prevent this let me know I'll have you busy

[Robert Burns]

If you're getting packages off the net, as an intermediary, you can't prevent circumvention.
Ncnd's don't mean anything the way they are being used and are legally worthless to boot.
Why would you be dealing with a compiler in the first place?

Here's how it works:

The supplier holds title and they're the seller They say, hey Robert, sell this for us.
That makes me their agent and I find someone to sell to or have someone else do it for me.
That person is the intermediary and the only intermediary used in the sale.

Everything I sell that's my own or somebody else's is exclusive. Our compilers construct
them but they, sure as hell, don't sell them or have anything to do with selling them. That's
the real problem; thousands out there doing something they know nothing about.

If the package isn't coming from a bank or financial institution, you should leave it alone.
If it's not, it's been shopped around and who would buy what others don't want anyway?
Your welcome to keep everything the intermediaries are selling because it doesn't exist.

[megabucks41]

But most of the sources that I have been doing business with have the same problem and none of them has closed one deal. Now if you are telling me that you have packages and can close let me know I will turn all my buyers on to you and see what you can do. 4 months and not a dime can you beat this, I have friends that are in my same spot andbeen doing this longer without income that is crazy. let me know what you can do.

[Dot's REIconnections]

I 'm just getting started in bulk REO's , my job would be is to bring the Buyer to the Seller as a Property Locator, so my question is "What form(s) would I use for bringing the Buyer & Seller together as well as myself included?

I understand that each party receives 1 point, On the seller's side they say they are just one person from the banks, so should I also make sure that the mandate for the Buyer is just one from the Actual BUYER too? because I hear so much that if you have too many hands in the POT the deal is just DEAD, that there is ONLY 3 points ...1 point for the SELLER 1 point ME, 1 point BUYER.
A question I have for my position as a Property Locator is " would I need some other FORM to prove my position to the BUYER/MANDATE? someone asked me do I consider myself a Intermediary, I said I'm independant & work as bringing buyer & Seller together , so they say then you are an Intermediary...
well to my understanding a intermediary is one who works for the Buyer or Seller, an in between person... so could you clear up what exactly an Intermediary does? & Can I also tile myself as one, would I be a BUYERS Intermediary? since I do bring the Buyer to the Seller.

Thanks

[megabucks41]

PURCHASE YOUR REO’S SAFELY
WITH NEW PROCEDURES

If you are like us tired of the games that people play. Well The Games Are Over.
Tired of the jerks on both side of the fence .
Tired of not being able to get your REO package.
Tired of buyers not being able to proof up.
Fed up being circumvented.

Enough is enough! This system was not put in place by us. This new system is being placed by the same people that will carry a person to prison when They don’t follow the procedures. By the way it will not matter if you don’t purchase with us. Sooner or later everyone will use these procedure, they must be followed to the T. No matter where you shop.

Buyer : will summit an NCND & MFA, it will go direct to clearing house. Clearing house will call buyer to send them an LOI so they can pull the product once the tape is pulled attorney will call buyer for POF and how much time they need to do their (Due). Then buyer goes to closing and we all get paid.

Buyer mandates or Buyer Reps will need to send in letter of authorization and a picture ID with all paper work

Intermediaries will need to provide a sub-fee agreement with the people they need to pay. There will only be one intermediary on the NCND and MFA and they will also need to supply a picture ID.

Buyer will be issued a security number, this number will appear on all the paper work from NCND to Sub-fee agreements.

We are here to bring back the honesty and integrity to this profession, and provide our clients with the service they deserve. This is the only true win win for all.

Once Buyer has been initially introduced to Clearing House and completed one transaction they now have Direct Access to the Clearing House for all their future business.
(REO’S, AND YOU CAN ASK US TO ASSIST YOU IN THE PURCHASE OF DIAMONDS, GOLD, BG’S, MTN’S, NOTES AND MORE)

Its time to stop spinning your Wheels looking for REAL Product. There are too many Broker games in the REO World and too many people working too hard and never getting paid. The Fact is that the People that are really getting paid are using Clearing Houses to get Product for their Clients, While everyone else is playing games chasing ghost packages that don’t exist. When a package is filled it already has a Buyer’s name on it. If a Buyer does not perform this package is gone too quickly for any brokers to get the paperwork in fast enough; hence the ghost packages. It’s Time to get Real Product and get Paid in a totally Secured Environment without Circumvention. Work with the Securities Firm directly.

OUR PROCEDURES ARE FIRM. WE HAVE MANY POTENTIAL BUYERS. WE WON’T PUT UP WITH BROKER NON-SENSE. WE HAVE GENUINE PRODUCT AND A SECURED ENVIRONMENT TO GET PAID WITHOUT CIRCUMVENTION. WE KNOW YOU WILL BE PLEASED AND SEND US MORE BUYERS.

[jbarno]

For megabucks41,

You sound more "successful" since your 1-5-2008 post. What changed and have you now closed a deal?

[megabucks41]

I am a few day from closing on some small deals, and I am also direct to a clearing house via a partner who is a lic. broker on the street. The process to get your package is very fast and (fed regulated) all paper worked turned in must have PIC ID attached to them for Home Land Security to check out everyone concerned.

[jbarno]

Megabucks41: Am anxious to hear how it works out. Would love to know that as your earlier posts related, someone who has worked so hard for so long and received nothing, actually gets paid. And Tim, your comments are a dose of skepticism, sarcasm, or knowledge? Not being rude, it is a sincere question.

[Debbie]

And Tim, your comments are a dose of skepticism, sarcasm, or knowledge? Not being rude, it is a sincere question.

I'd like to sincerely answer your question.
It is a dose of KNOWLEDGE based on research.
Believe me, Tim KNOWS what he is talking about. He really a neat guy to know. You'll find out soon!

Off my soapbox to allow Tim to step on it.

[jbarno]

Thanks for the info Tim. I appreciate your input. And as a note, I have been asked for kids' SS and have always refused. Not only are there so many more of those trying to get such information but, they are also getting more crafty.

[The GUY]

Hello all, I hope this thread grabs some additional views because I have been a member (under a different name, sorry Dan lost that password) of this forum and have come back to add specific input on this to assist Dan and his ever growing group so as to not fall victim to this REO craze that has been sweeping the private sector.




To add some validity to my post, I have a background in finance both residential and commercial and actively work in the secondary market on these pools from wall street. No offense to the poster but let's square somethings up which are not necessarily statements made by the poster just food for thought!

With the recent crash of all of the mortgage institution and the huge losses on the open market by the big players (Merrill Lynch, Bear Sterns, etc) this craze has become ever more popular and I have seen and heard some terrible stories of wasted time, money and effort on pursuing some of these dreams.

Pools of REO's and Notes (both performing and non-performing) have been being traded for some time on the market. Recently many people have jumped into this as a potential for income and opportunity because of the loss of business from the slow down in the real estate world. The knowledge of all of the foreclosures is out in the public and it seems like the days of investor just being happy with a single short sale turned into now wanting multiple properties for one great low price.

The chasers really break down into two groups, the ones with a couple million dollars to afford these pools (yes, they are not cheap) and the folks with no money who we will refer to as "street brokers". These folks with money get connected with these street brokers and they go off looking for these pools of products to buy. The blind leading the blind. The craziest thing I see is these folks who are chasing these 1 BILLION dollar pools (yep, they really are chasing them) not only is that number silly but these pools are said to be discounted down to 30 to 40 cents on the dollar! Pause here and think about that.

CRAZY! These pools do not exist. Those prices do not exist! So how do you protect yourself if you don't believe me? Let's look at this.

Real trades have a seller (principle banks, investment houses and institutional holding companies) these real suppliers utilize bonded securities broker houses to trade these pools because while they do not get up to 1 Billion they do range into 10's of Millions and from time to time a little over 100 Million on average. These companies let's say Bear Sterns has it's trader they use who then subsequently has his buyer who have a track record already in place. These folks trade all the time, think about the risk to sell 10 Million dollars of product to an inexperienced buyer, it's tremendous. The real trade itself has a risk which is why they use bonded traders. Now that being said, it doesn't mean that nobody gets into the "club" to trade it means that these clubs are so picky that MOST will not get in even if you found the right door and you had the secret knock and handshake.

There are many different risks to go into this private sector guy joining the game and then there are many different mis-conceptions to the "real" deal that are not ever on the street. Let's beat up the misconceptions.

The street would lend you to think you send in an LOI and you proof up funds and then you will have 15 days to close the deal. This doesn't even take into the problems with all of the 15 thousand brokers who stand there with their hands out trying to make commissions. Although I have seen people spend real money chasing this dream, spending money to complete due diligence in an ignorant amount of time to get all the way to a closing day (in 15 days) to find out there is no real seller and they just wasted their money. One principle told me they lost over 300,000 dollars playing that game. This I find irritating that people are lying and misleading people and the good nature folks of the world get scammed.

The other problem is just because you have money doesn't mean you get to dictate the business. Most private guys think that they have a couple million bucks and they can say I will only buy the best product at 40 cents and I will not take the bad product with the good product. It doesn't work that way either.

Pools are sold with the deepest discounts on a national level. These pools in order to have that deep discount HAVE to include less desirable properties in less desirable areas that is what gives the discount. Desirable properties sell in any market, don't think your doing the bank a favor. Properties in most "hot" regions do not need discounts that deep to sell so why would the bank take such a big loss? They wouldn't silly, they wouldn't. Let's also examine the math that makes the real pool possible. Properties in Michigan, usually less desired sell for let's say 30 cents on the dollar, properties in California sell for let's say 60 cents on the dollar if we had a pool of just those two properties the average on that pool would 45 cents on the dollar. The more properties we add in any one geographical area would force that 45 cents to move up or down. So more properties in Michigan with the deep discount forces 45 to drop and more properties in California forces it to go up. While the true equations for these pools become a little more complex than this, this notion really illustrates a way to understand the mechanics. The average trades for these pools are truly around 50 to 55 cents and the more geographically specific they become the more that price tends to increase toward 60 to 70 cents.

So how do you the investor protect yourself? Well, if you really think you have the real source take a step back and be logical don't create your own reality and don't let a street broker create one for you either. Know and understand who you are playing with, who is the REAL seller, you know the guy that currently owns that deed? It's not a secret. Your broker should never be scared to tell you who your dealing with from the START of the transaction because if they really were connected it wouldn't hurt them. You can't just pick up the phone and get to these guys it doesn't work like that. The seller should be someone who is in the game and they should have a real name like Bear Sterns, UBS, Merrill Lynch, Bank of America, Wachovia, etc. It would scare me to death if when I started asking all these questions to see if I desired a transaction with any group that they forced me into all these 100 different agreements before I even knew what the deal was. Keep in mind, NON-Disclosure is not the same as signing a Non-Disclosure Non-Circumvent. The "NC" screams there is no REAL relationship there, if there was how would you ever circumvent? Lastly you will have to put out some documents like LOI and sooner or later you will have to show proof of funds take the logical steps to ensure documents are secure using PDF locks and don't be afraid to ask for validity of relationships, keeping in mind that apparently these folks will say what ever it takes on the phone and most of it is not true.

I hope some of this, if not all has been helpful and educational and hopefully not too many have fallen victim. Like I said at the beginning of the post I came back to Magic Bullets to directly post some of this to get some real resource of information on the street. Much as I anticipated at least one person was here looking! Don't thank me, thank Dan. I will more than happy to give thoughts or answer questions in regards to this topic to assist with your safety.

Please do not contact me for product, the answer in advance is "NO".

[Randy (SELA)]

That is an awesome post. It definitely clears up a lot of the BS about bulk REO packages that I've been reading. Thanks!

[joelbrattin1]

I have been dealing with the same stuff you guys have for 9 months. We just started getting orders filled at the 10 to 15 mil range...

[The GUY]

I have been dealing with the same stuff you guys have for 9 months. We just started getting orders filled at the 10 to 15 mil range...

Joel, hello and welcome. Tell us a bit about your successes and failures so that others may know what to look for and what not to look for.

:SM103:

[15KHomes]

We are frustrated as well. We have not had a compiler produce as of yet. We have prequalified buyers for packages ranging from 10-100mm. Originally we were looking only in NY and Long Island but we have buyers interested in nationwide packages. If you can provide these packages contact us.


Here is a great opportunity to purchase foreclosed homes at 25 to 30 cents on the dollar!

We secured long term relationships with a few wholesale companies who deal directly with several large banks. As the current foreclosure trend continues, banks need to off load large quantities of homes quickly, so when they can sell large volumes of homes all at once we can pick them up at huge discounts.

we also tapped into an insider's secret when it comes to moving distressed properties. We are now offering each of our members an opportunity to purchase and move these properties for substantial, rapid returns.

With us:

Spend less (15,000) Per Property:praise:

Higher Value (45,000) Nothing less than

One property at a time

Control more property:icon_verw

Positive cash flow

15khomes@gmail.com
Contacy Corey
801-735-2090

[The GUY]

Here is a great opportunity to purchase foreclosed homes at 25 to 30 cents on the dollar!

We secured long term relationships with a few wholesale companies who deal directly with several large banks. As the current foreclosure trend continues, banks need to off load large quantities of homes quickly, so when they can sell large volumes of homes all at once we can pick them up at huge discounts.

we also tapped into an insider's secret when it comes to moving distressed properties. We are now offering each of our members an opportunity to purchase and move these properties for substantial, rapid returns.

With us:

Spend less (15,000) Per Property:praise:

Higher Value (45,000) Nothing less than

One property at a time

Control more property:icon_verw

Positive cash flow

15khomes@gmail.com
Contacy Corey
801-735-2090

15K Homes, can you be a little more detailed concerning your operation and product. The statements you make are substantial but as you can see by the post many have found nothing less than difficulty with this endevour. In the number you list that would give me a property at 33 cents on the dollar, where are these located? Are all the properties 33 cents?

The "long term relationship" if just secured can't be long term, it was just secured...confused about that? And it would sound as if you are linked to an enity who is linked to the bank thus we have a "chain" of sorts, which also seems to be areas of concern to the folks who do seek out real relationships. As how do they substantiate your claim? Is the purchase concept 1 property at a time or was it just a slogan?

[mkbatman]

This has all been very interesting to read and I appreciate all the input from "experts" to novices alike. Let me ask this question. I work for a hedge fund that has established relationships to purchase and sell REO's ( I just started 6 weeks ago--) Before that I worked as a sales manager in the business that probably started all this (mortgages). What I think I've discovered is that a lot of buyers want to get into this game and maybe there is a solution. Shouldn't they invest in the hedge funds doing what we are doing. It might take a little longer to see returns but wouldn't it be better to join a group that gets product and then turns and sells it than wait around through the daisy chain to get disappointed? I don't know but so far that seems like a better alternative because as many of the experts have stated, the real experienced buyers don't have to go through the bs. The "new" buyers need to find a way in and we might have the answer. We set up agreements now with 3 institutions (through a seasoned trader) and now have moved 2 Ca packages and a third is coming. The goal was to get 1B in investor commitments (we are over that right now) and in turn buy large and chop and sell. Something to think about for that buyer having trouble getting into this game.

[The GUY]

This has all been very interesting to read and I appreciate all the input from "experts" to novices alike. Let me ask this question. I work for a hedge fund that has established relationships to purchase and sell REO's ( I just started 6 weeks ago--) Before that I worked as a sales manager in the business that probably started all this (mortgages). What I think I've discovered is that a lot of buyers want to get into this game and maybe there is a solution. Shouldn't they invest in the hedge funds doing what we are doing. It might take a little longer to see returns but wouldn't it be better to join a group that gets product and then turns and sells it than wait around through the daisy chain to get disappointed? I don't know but so far that seems like a better alternative because as many of the experts have stated, the real experienced buyers don't have to go through the bs. The "new" buyers need to find a way in and we might have the answer. We set up agreements now with 3 institutions (through a seasoned trader) and now have moved 2 Ca packages and a third is coming. The goal was to get 1B in investor commitments (we are over that right now) and in turn buy large and chop and sell. Something to think about for that buyer having trouble getting into this game.

MKBatman, we have some common lineage. I believe you are correct, it would be better to invest your money into a fund that offers a managed buy/sell program so as to not get stuck with something you thought was a "good" idea. What most investors seem to misunderstand is the money that is truely available in the market moving bulk. I am curious to know/learn more about your fund and your position with that fund, if you wouldn't mind sharing.

[mkbatman]

I was hired on for new business development. There were 6 of us brought in and basically we had spent the past 6 months chasing our tails so to speak trying to move Reo's packages. We ended up moving one which is an accomplishment in itself but we were also able to make contacts with some sellers directly and also some buyers. That's how we met some individuals starting this fund and joined forces. Initially the past few weeks, we have been chasing the dream deals while also working on getting investors into the fund. That's where most of the focus is now although we are also pre-qualifying buyers for the product we buy (although we may use other means (auction houses, other lenders) to liquidate. I'm just looking to find people who want to buy but also might consider a longer term situation. Obviously our ability to buy more affords a price advantage from the institutions which we can pass the returns on to our investors once we sell the product. The essence of the fund is that the investor would see returns throughout the year based on their percentage into the fund. Sorry if I can't get more specific until the attorneys sit with us (the "sales" team) and tells us exactly the way the message has to go out but I'm just digging around the web right now to get a feel for the buying environment.

[speechlady4]

We have direct contact with REO buyers for any price range worldwide. They will readily buy packages going for 50% LTV. Please contact me at speechlady4@yahoo.com if you are a seller mandate for the above REO's.

[Kkroos]

I feel your pain, I am a buyer of small REO and have been mislead as well. First I had to prove funds and jump through a bunch of hoops, then I researched the properties, then found out the agents I was working with could not deliver. If you find legit sellers please let me know because i am ready to buy 10-20M CA REO's in 60 designated zips.

614-296-3068

[WarEagle]

This is not entirely true. There are those , like myself that actually are assigned mandates of an REO Bulk package.
I am direct mandate for bank , and have established track record , for purposes of working with the bank. I am seeking real investors and buyers.
I have also had my share of "broker jokers". These guys make it bad for everyone.

So why am I here , to sell this REO Package. Why else. If any of you are serious buyers or investors , The REO package is 35M.

[The GUY]

This is not entirely true. There are those , like myself that actually are assigned mandates of an REO Bulk package.
I am direct mandate for bank , and have established track record , for purposes of working with the bank. I am seeking real investors and buyers.
I have also had my share of "broker jokers". These guys make it bad for everyone.

So why am I here , to sell this REO Package. Why else. If any of you are serious buyers or investors , The REO package is 35M.

Tell us about your package that you on Magic Bullets trying to sell. And what bank are you a Mandate for? What procedures does a "real" buyer expect to have when dealing with you? Time duration to close? What size package do you sell?

I would also be curious how one get's a mandate position with a bank and does not have the ample supply of "buyers" to move the product? Why you, no offense, buy why did the bank pick you?

[Kkroos]

Please contact me direct to discuss package I can review our underwriting guidelines. 614-296-3068








This is not entirely true. There are those , like myself that actually are assigned mandates of an REO Bulk package.
I am direct mandate for bank , and have established track record , for purposes of working with the bank. I am seeking real investors and buyers.
I have also had my share of "broker jokers". These guys make it bad for everyone.

So why am I here , to sell this REO Package. Why else. If any of you are serious buyers or investors , The REO package is 35M.

[The GUY]

Please contact me direct to discuss package I can review our underwriting guidelines. 614-296-3068

Underwriting Guidelines.....?

Is somebody getting insurance or a loan?

[Kkroos]

We are a qualified principal buyer of CA non performing notes and REO. I have been a mortgage banker for 14 years selling to Bear, RFC, Citi, etc... Our new fund is looking for 10-15M packages. Please contact me direct and happy to prove ability to purchase. Thanks,

614-296-3068

[The GUY]

We are a qualified principal buyer of CA non performing notes and REO. I have been a mortgage banker for 14 years selling to Bear, RFC, Citi, etc... Our new fund is looking for 10-15M packages. Please contact me direct and happy to prove ability to purchase. Thanks,

614-296-3068

Kkros...if you are currently trading with Bear, RFC, Citi, etc, why don't you just buy their product? Why are you on the "street" looking for product?

That doesn't make much sense. If you have those relationships why not use them instead of creating self-inflicted wounds.

:SM136:

[Kkroos]

Simply because i want to pretend that i am a buyer and want to waste everyone including my time. Thanks for the tip, in fact we are bidding on non-performing notes as we speak, but not on REO since the minium pool size and pricing does not meet our model, i am simply trying to widen my scope of sellers. Did not realize that was not permitted or looking for more product would offend you (whoever you are) and cause self inflicted wounds.

[The GUY]

So what pricing and pool size does meet your criteria?

[Cornerstone]

If you are a serious buyer of Bulk REO packages, who can proof up funds and follow the proper procedures, we can deliver tape nationwide.

[Cashbizman]

Hi gang, new to this forum. i am a intermediary connected directly to the buyers mandate looking for the following. please reply to cashbizman@gmail.com if it fits your bucket.

pool of $1b+
POF in escrow of $15b
all states ok except Michigan, Ohio, Indy
90% should be SFR's (some comm and land ok)
If you have BPO's with in 30 days and a surety bond, no due diligence needed on buyers part, they are ready to close.
Pricing should be in the low to mid 30's +3
Please, sellers mandates only.

thanks for your time!

[mkbatman]

Tim--concerning your post I would agree to some extent although you would be surprised how many actual buyers are out on the web right now looking for "real" sellers of "real" product. In many cases they might be newbies to the REO bulk and note world (and that's understandable since this is unprecedented). Heck, if you are a real seller you might as well check them out and see if you can sell them something right?. Besides competition drives price. Which might be something that the last poster might look into. A 1B tape at that price point (if the 1b tape is around even) is tough when you knock out the 3 states that drive you to that price to start with. Your buyers will take the bad with the good to get that price. Otherwise, high 40's and in the 50's seems better.

[The GUY]

NO. NO. NO.

Tim is just not sort of right he is completely right. Never in a million years would serious sellers be looking on Magic Bullets to acquire buyers for pools. No offense to Magic Bullets, it's just not a logical place to find one. One of the things we see often is that brokers tend to "create" reality when it comes to these things. Often with justifications to why something should go a certain way when it really doesn't make any logical sense.

The next issue is the guy who said "BUYER IS READY TO GO WITH NO DUE DILLIGENCE". Come On! Seriously, do you believe that? I am going to spend Millions of dollars on some assets and the investor will take it as is? Stop being so wacky! No real investor will ever buy something without due diligence. This is case and point, the "crap" that the street teaches the brokers to say as if tha will make real people show up.

NEWS FLASH: IT WILL NOT MAKE REAL SELLERS SHOW UP.

My next issue, with that BUYER, the buyer has 15 Billion in escrow? Seriously will you stop and think about that? Do you understand the real difference between asset values and cash values, nobody just cashes out Billions to let it sit...that's a terrible return on their money. Especially when the dollar is becoming weaker and weaker everyday.

There was a day, when people could do business on words. That day is no longer in our society. There was a day when contracts evolved to keep people honest, that day no longer exists.

The most shameful and disturbing idea to take from all of this is the value of words spoke amongst people has lost it's value. When you say you "HAVE" something you should "have it", for instance go to the store and buy an apple you then "have it". You have it because you can touch it and taste it and feel it and see it. Thinking of the apple in my hand, does not make it so. Wishing the apple into my hands, does not make it so. And just saying the apple is in my hands, does not make it so.

It does not have to be a downward spiral, you can put integrity back into your words. Don't create a reality, live in the one you have.

Food for thought.

:SM129:

[Debbie]

NO. NO. NO.

Tim is just not sort of right he is completely right. Never in a million years would serious sellers be looking on Magic Bullets to acquire buyers for pools. No offense to Magic Bullets, it's just not a logical place to find one.

No offense because you are absolutely correct.

[Don]

In this market what you asked for is pretty simple. I deal solely in Florida. If you like email me or call 850 983 9726. hawkinsdon@aol.com
Don

[The GUY]

In this market what you asked for is pretty simple. I deal solely in Florida. If you like email me or call 850 983 9726. hawkinsdon@aol.com
Don

Ask who what?


:SM105:

[Don]

Hi, I have never sucribed to bulk REO. I do not need to. Good Luck.

[Don]

Hi, I still have not figured out how to use this system. However in Florida there is not much of a problem purchasing forclosures or pre-forclosures. In Escambia county (a medium sized county) there were !,600 forclusures alone. I prefer to deal with buyers that do not mind starting small to get ther feet wet. hawkinsdon@aol.com I realy do not have time to check this web site for responses, as interesting as it is. Don

[The GUY]

I don't really understand the points of your statements either....

:SM006:

[Matt86]

Ok I was reading through the post and can see there's scrutiny with bulk reos. Quite frankly being where Ive closed on these bulk reo packages I do not worry as to why or how but Ive taken advantage of an oppertunity. The reason why banks sell the reos at such a low price is b/c they need to liquidate the houses as soon as they can because they dont want to pay the taxes. Not to mention it doesnt really matter to a bank what price they sold it at or ltv as long as it's no longer on their hands. And the problem why most deals dont go through is because there are so many bsers out there saying they have buyers, or they are direct to the source and it tunrs out to be not true. So how do you know who is true? You dont but you keep plugging away until you find that real source, and that real buyer. Plus a lot of bulk reos are up in the 100M and higher. When you get 1% of that do you think that person is going to stick around and tell you the success while they are out vacationing? I guess I thought I would be a first. I will give a heads up as to how you know your buyer isnt real. They know the protocol, meaning it shouldnt be a surprise f you ask for soft loi/pof. Same goes for the broker, or mandate to the seller for an LOA. Honestly just b/c I closed a reo deal doesnt meant Im done. My group is still looking for buyers to open up our buisness so if you are in fact a buyer or mandate you can contact me. But be sure you can proof up I dont want to waste anyones time here.

Matt Bormann
607-674-6242
mbwholeseller@gmail.com

[The GUY]

The reason why banks sell the reos at such a low price is b/c they need to liquidate the houses as soon as they can because they dont want to pay the taxes. Not to mention it doesnt really matter to a bank what price they sold it at or ltv as long as it's no longer on their hands.

Paying the taxes I don't think is really one of the top reasons a financial institution would seek liquidating an asset. I think the bank DOES care about the price they sell at, otherwise why wouldn't they just give them away?


Plus a lot of bulk reos are up in the 100M and higher. When you get 1% of that do you think that person is going to stick around and tell you the success while they are out vacationing? I guess I thought I would be a first.

So now that you made your cool million, you can come and show us the light?
How many private sector guys do you know with over a $100 Million...that is a nice rolodex!

I will give a heads up as to how you know your buyer isnt real.
Read that sentence one more time! "isn't"???

They know the protocol, meaning it shouldnt be a surprise f you ask for soft loi/pof. Same goes for the broker, or mandate to the seller for an LOA.

So they are NOT real because they DO know the protocol???? That is strange! We would think if they know how it goes, that would lend some credibility to them to BE real.

Honestly just b/c I closed a reo deal doesnt meant Im done. My group is still looking for buyers to open up our buisness so if you are in fact a buyer or mandate you can contact me. But be sure you can proof up I dont want to waste anyones time here.

Matt in one of your posts on another side you posted this:

I'm on a rant and the people who put up the REO packages bulk sale info are invading space. So let me put this to rest where my info will not be deleted.

1) These guys and girl blog here so that they get hits on google, nothing more.

2)No serious pool buyer is on AR. 90% of them have offices in Greenwich Ct, or White Plains, NY, 1 major in Denver or Dubai!

3)If you ask these guys for a non disclosure they email you one in which a google search will turn up zero on any named party.

4)If you really have a client with those kinds of bucks, they don't need middlemen.

Whats the secret?

No secret, all of the major investment banks and lenders have trading desks, usually called scratch and dent desks. Just have your client make the call, they can deal direct with the traders and not pay the middleman.

Then on the same site you posted this only 2 weeks ago:

I am looking to expand my pool of buyers representatives who are representing interested buyers on exclusive reos, builds, closeouts, and commercial proerties. We currently work with people direct to the mandate of the bank holding the reo. And at this point the highest available for order is 500B. If you or someone you know fits the criteria we would be more than happy to hear from you. My brokers and sellers need to be in direct contact with the attorney, or representative. You can contact me at mbwholeseller@gmail.com or call me at 607-674-6242 anytime I am on est. Thanks in advance.

Seems like those to a certain extent contradict each other, don't they?

Also like the highest available order is 500 Billion, that's great because I only have 499 Billion in my back pocket....seriously, do you know how silly your post is?

http://www.msnbc.msn.com/id/22893703/

Go read some numbers, 1.3 Million foreclosure filings...
Filings are not foreclosures yet, a small percent will be cured or sell prior to foreclosure and then a percent will sell at the courthouse steps and then sometimes a national auction or Realtor firm service and then and only then...will a property really, truly become an REO. But that's right banks don't care about the money they lost...

For the math impared the average home value in the US is just under 200K so let's see what happens if all foreclosures go to REO
(1.3 M X 200,000 = 260 Billion)
So I guess it's good you don't collect over 500 Billion for REO buyers, it would be difficult to close deeds from other countries, I guess that's where the other HALF of your number goes!? Just in case that is not enough, what happens if all that inventory sells for owe say 50 cents on the dollar????

Just thought, make sure you know what your talking about otherwise you might stick your foot in your mouth.

:beer:

[Matt86]

I never wrote this, I dont where you got this from:
"Matt in one of your posts on another side you posted this:

I'm on a rant and the people who put up the REO packages bulk sale info are invading space. So let me put this to rest where my info will not be deleted.

1) These guys and girl blog here so that they get hits on google, nothing more.

2)No serious pool buyer is on AR. 90% of them have offices in Greenwich Ct, or White Plains, NY, 1 major in Denver or Dubai!

3)If you ask these guys for a non disclosure they email you one in which a google search will turn up zero on any named party.

4)If you really have a client with those kinds of bucks, they don't need middlemen.

Whats the secret?

No secret, all of the major investment banks and lenders have trading desks, usually called scratch and dent desks. Just have your client make the call, they can deal direct with the traders and not pay the middleman."

Thats not the same matt. And dont come on here saying crap about me and how silly my post is. I have closed bulk reos not as of yet in the Bs but I have seen huds for these amounts. No what I think is rediculous is someone posted on a different site that they have packes up to 1T. The only reason I said 500B is b/c my team has a mandate who claims they have 2 buyers proofed up to that amount, well 1 now I believe they are closing a deal right now with another source. And guy about your price, not all homes in the reos are priced at 200K. These are usually much higher than the average especially in CA, NY, and Texas. I mean u based it on average, when was the last time anything was average in real estate? I mean Im so fed up with these people that go out there saying crap when 1st you should keep that to yourself, and second you dont even give me a chance. So why make enemies when you dont even know them?

[The GUY]

Matt if that post is not you, then I OFFICIALLY and PUBLICLY APOLOGIZE to you.

I will still point out your statement in the most recent post "I have closed bulk reos not as of yet in the Bs but I have seen huds for these amounts."

Versus the orginal post:

"Quite frankly being where Ive closed on these bulk reo packages I do not worry as to why or how but Ive taken advantage of an oppertunity."

Which is it? You have closed or you have not closed as of yet? If your complaining about the numerous dead ends in the market and how your better why are you double talking your statements?

And if your better, then know what your better at, do some research understand what you trying to sell and make true and accurate representations of what you have or don't have.

The 200K was a number used to demonstrate the Median Home price in the United States in an easy math equation which is according the National Association of Realtors is arguably between 195K and 210K. (which by the way is accurate) The figure was used to show the outlandish number of 500B, with the median home price being close to fair market value, if for easy math sake you apply a discount to that number then my point was illustrated. (Refer back to the math equation and example) If required the definition of median value is value of the property located at the midpoint of all property assessments when arranged in order according to value.

Your frustrations are similar to mine, I ask you make sure you check your facts prior to your public statements. I am not here to make enemies, I am sure you are a great guy with excellent intentions, unfortunately the facts you are using are not completely accurate, which is something that you can fix if you so desire. Knowledge is power.

[bsmooth512]

If you want professionals you just have to be patient. The maniacal infestation into our secondary market is nothing short of astounding. I sell/broker/intermediary REO pools depending on the sizes, respectively

10-100M we are the mandate
100M and up we are intermediaries

As an intermediary we will do some due diligence to "verify" the buyer is legitimate. My reputation demands some proof before I deliver a Street direct contact to compile your request(s)

If you have the faith your buyer can proof and can deliver we can assemble or sell a tape we currently hold

As far as the process goes:

- Buyer info and POF needs to be communicated (negotiable based on size)
- Soft POF verification will take place by selling mandate attorney
- Fee agreements are signed
- Tapes will be delivered - within 24 hrs of POF
- Due-diligence period
- Closing period

That's it


I am not a time waster and I expect the same in return,

Chris
Serious Buyers ONLY: We put Qualified Buyers together with Authorized Sellers through our Bulk REO Buyer Direct Program. Brokers ONLY: Have access to Qualified Buyers but can’t find Authorized Sellers? Not a problem. You’ve come to the right place. We've created a special accommodation for you in our Bulk REO Buyer Direct Program that will place your Buyers in front of Authorized Sellers. . For more Info send Email to The Impact Group USA at Bsmooth512@yahoo.com

[dannymaio]

If you want professionals you just have to be patient. The maniacal infestation into our secondary market is nothing short of astounding. I sell/broker/intermediary REO pools depending on the sizes, respectively

10-100M we are the mandate
100M and up we are intermediaries

As an intermediary we will do some due diligence to "verify" the buyer is legitimate. My reputation demands some proof before I deliver a Street direct contact to compile your request(s)

If you have the faith your buyer can proof and can deliver we can assemble or sell a tape we currently hold

As far as the process goes:

- Buyer info and POF needs to be communicated (negotiable based on size)
- Soft POF verification will take place by selling mandate attorney
- Fee agreements are signed
- Tapes will be delivered - within 24 hrs of POF
- Due-diligence period
- Closing period

That's it


I am not a time waster and I expect the same in return,

Chris
email me at danny@dmconsultinggroup.com. thank you

[DJ2008]

This is not entirely true. There are those , like myself that actually are assigned mandates of an REO Bulk package.
I am direct mandate for bank , and have established track record , for purposes of working with the bank. I am seeking real investors and buyers.
I have also had my share of "broker jokers". These guys make it bad for everyone.

So why am I here , to sell this REO Package. Why else. If any of you are serious buyers or investors , The REO package is 35M.



My name is DJ and I have qualified and proofed up buyers that have been burned and put through the ringer. If you can proof up and provide real product in "reasonable" amount of time then email me at realprobie2008@yahoo.com. And visit my website at http://bulkreosolutions.googlepages.com/home. I would love to do business with someone who is serious about it for a change.
DJ

[rvanes]

I am not claiming to bthe direct seller. I do however, feel comfortable in putting you in touch with the person who is direct to 8 different Asset Managers representing 8 different Banks. They have closed REO transactions and heavily guard their assets. They can sniff out a straw buyer and a fake buyers direct a mile away. If the buyer is legit and wants to purchase MTN's, performing and non performing notes, CA packages, or nationwide packages the buyer MUST have an exit strategy and proof of funds that is not dirty money. If you are interested in closing deals email me. If you are tired of countless hours of conference calls that go nowhere email me.

[winthy]

I am direct to builder buyouts and also on REO's however some REO'S are 1 away. I am real if you are contact me at magiccoast@cox.net. Let me know what areas you are looking for. We concentrate mostly in CA, NV,AZ, NM, TX, however do have others.

[moneyfuture]

With the dinosaur days here bulk REO's are a thing of the past (maybe one day a Jurassic Park with come alive for bulk REO's again). Although a lot of investors are now focusing more on CMO's (collaterized mortgage obligation). These are more secured transactions for both parties. Read up more on the web for further education.

I deal directly with a seller of CMO's. If you have a needs for CMO's and you are a direct buyer or direct rep please feel free to contact me for assistance.

moneyfuture@yahoo.com

[TMS]

If you have a buyer email me directly T_Tholdings@consultant.com. I am the Seller's Rep. Reo packages up to 5B.

I have a buyer wanting to purchase a small $10M package of residential REO's. I have been sold promise after promise from one BS artist after another. Seems everyone is "direct to 40 lenders nationwide", yet not a one of you has been able to produce. :SM077:
So now I find myself with two weeks waiting time thrown out the window with this last con man, and nothing to show for it except a deal gone sour and my lost credibility.
Is there anyone in this biz who is honest and can produce? If so, please do tell. . .and be prepared to prove yourself to me or don't bother.

[SPIVALAW]

If you have a buyer with cash, we arent REO Bank properties however..

We own over $50M in properties. All are in Savannah Ga. (Great town!)
We are willing to sell.

Most are leased with nice cash flows.

We have homes, lots, and land all either on or accessible to deep water.
We also have:
~20K sf office building ($6,8M),
~30K sf Car dealership ($12M),
~30K sf Warehouse ($3M), 9rents $12,500 nnn)
~Church/Day Care ($3M), (rents $13,500 nnn)
~40 acre track for mixed development
(retail/office/multifamily/residential) ($10M),
~land for Development 9 acres Church/Multifamily/Residential ($3M),
~Residential land 15 acres ($1.5M)....

We own a number of residential investment properties (all leased and occupied) houses, condos, quads, 8-plex ...

Here are some on our web page:
http://www.srei-inc.com/LISTINGS.htm
http://www.srei-inc.com/INCOME%20INVESTMENT.HTM
http://www.srei-inc.com/LUXURYHOMES.htm
http://www.srei-inc.com/RESIDENTIAL.HTM

We own all of these properties and more.

We have 3 wonderful water front houses for sale
($1.3M (rented at $3500), $2.25M (rented at $5,000) and $5.5M) and 1 condo ($195k) on the water (rented $1,000)

You might want to take a few minutes and watch these 3 video links...
be sure and turn on your sound on your computer. Enjoy!

http://videoman.tv/9_Brewster_Video_Home_Tour.html

http://videoman.tv/4_End_Video_Home_Tour.html

http://videoman.tv/12401_Apache_Video_Home_Tour.html

We also have deep water lots
and acreage with deep water docks;

Many marsh front and "water access" properties.

Please call me directly instead of our agents with any questions.

MAKE IT A GREAT DAY!!!
howard
912-920-2000 (office)

[California King]

NEED REO PRODUCT: COMMERCIAL and RESIDENTIAL

We need commercial anywhere, and residential with a western slant. One of my buyers is taking down his second tape, SoCal SFR's, $20m. Have capacity for $300m, prefer under $100m deals.

Drop me an email if you have DIRECT to SELLER or one away from the product.

John

[kingconsultants]

My seller has bulk in the 50 to 200 mill range, but since I to have to weed out the bad, lets start with a $50mill. then work our way up.
1. Current (30 days or less)POF of $50mill./LOI
2. Specify what you are looking for? 35cents .45cents .55 cents on the dollar? Also mixed use/By State/ Nationwide?
3. Wait for bank to approve Documentation. 24-48 hours* Sign agreemt. prior to releasing disc.
4. Release disc to buyer.
5. Work on closing Deal!!

Elvis G. Batista
King Consultants
kingconsultants@optimum.net

[REO SUPPLY]

Hello,

At Reosupply we have been assisting clients like yourself for over three years with their acquisition of bulk reo product for the last three years. We are a fully licenced service and have forged many great working relationships with priviate party and institutional investors and can supply references of past closed transactions from 2006 -2009.

We work hand in hand with institutional asset managers that understand that our clients have both the desire and ability to acquire such inventory. Should you be either a buy / buyers attorney / buyers representitive with signatory authority please feel free to contact us via email at reosupply@yahoo.com. Thank you in advance for your time and consideration we look forward to hearing from you.

Please note that we do not work with "Daisey chain" broker groups nothing personal we have however in the past found simply not to work due to communication and lack of authority issues.

[Bobbyj55]

Dear Sirs

I Have Bulk Packages Direct To Seller Starting At 10mil And Up We Can Do Nation Wide Or Customized

I Have Freddie And Fannie Inventory And Access To More Provide LOI And Soft POF And I Wont Waste Your Time

Thanks
Bob Bobkim5432@aol.com

[theresa@directreo.com]

My name is Theresa Bustamante and I work for a capital market firm in Irvine CA. We have direct seller relationships with over 50 banks, funds, and institutional sellers of distressed real estate assets. Please call me at your earliest convenience to discuss your buying parameters, purchasing capacity and possible engagements.

You can reach me anytime at the office 949.861.2880 or my cell 949.279.2730

[davidg]

please email me at davidginphoenix88@gmail.com when you have time to compare notes? thanks

david gonzalez
phoenix az




NEED REO PRODUCT: COMMERCIAL and RESIDENTIAL

We need commercial anywhere, and residential with a western slant. One of my buyers is taking down his second tape, SoCal SFR's, $20m. Have capacity for $300m, prefer under $100m deals.

Drop me an email if you have DIRECT to SELLER or one away from the product.

John

[D & M Investments]

We are a real estate investment company investing in Bulk REO packages. We are now looking for funding for our next round of purchases. A $150,000 investment will buy 10 houses with $50,000 kept in reserved while package is processed. Processing time averages 1-3 months.

Please contact us at deenaandmichael@gmail.com

Serious inquiries only.

Thank you

D & M Investments

greateastbaydeals.com

[Jim FL]

Bummer, I was going to ask questions, but was not sure if you would take my inquiry serious or not?
Oh well..............have a nice day, and don't spam our forum. Really, that i do take seriously, as do others.

[johnnym370]

I'm direct with the mandate. We buy and sell REO's, we have 3 packages at least as of last week when I spoke the mandate, 25MM (?? unsure of this amount, might be a bit more), 125MM and a 500MM tape. First we need an LOI to start, if your next to the buy thats not a problem because when we're going to buy a tape we don't have a problem proofing up. If your part of daisy chain don't bother calling me because it never works out. I don't know why grown adults got to B.S. and lie about their position. Either your real and you have buyers in place we can make it happen anything else is not going to work.

Johnny
(949)436-4980

[johnnym370]

I have a buyer wanting to purchase a small $10M package of residential REO's. I have been sold promise after promise from one BS artist after another. Seems everyone is "direct to 40 lenders nationwide", yet not a one of you has been able to produce. :SM077:
So now I find myself with two weeks waiting time thrown out the window with this last con man, and nothing to show for it except a deal gone sour and my lost credibility.
Is there anyone in this biz who is honest and can produce? If so, please do tell. . .and be prepared to prove yourself to me or don't bother.
I'm direct with the mandate. We buy and sell REO's, we have 3 packages at least as of last week when I spoke to the mandate, 25MM (?? unsure of this amount, might be a bit more), 125MM and a 500MM tape. First we need an LOI to start, if your next to the buyer thats not a problem because when we're going to buy a tape we don't have a problem proofing up. If your part of daisy chain don't bother calling me because it never works out. I don't know why grown adults got to B.S. and lie about their position. Either your real and you have buyers in place we can make it happen anything else is not going to work.

Johnny
(949)436-4980

[johnnym370]

We have 3 tapes $25MM (might be a bit more), $125MM and $500MM. I work for the mandate of some of the lenders and 1 away from the others. We have private investors and we buy and sell REO's, we presently are in mid negotiations to purchase a large tape but we also have other tapes we're selling. I believe you can cherry pick some but not others.

Johnny (949)436-4980
johnnym370@rocketmail.com