WARNING
Read This First!
If you are looking to acquire foreclosure properties or REO packaged properties:
Most of what you find on the Internet regarding BULK REO is FRAUD! There are many so-called Brokers, IM’s, etc. that will tell you they can provide product, when in fact they can’t!
They will drag you through the mud and then some! Don't waste your time and give out your information to people who have no idea they are doing!
How do we know? First and foremost because we, at USA EQUITY PARTNERS, LLC, are Investors ourselves! We spend countless weeks and months trying to obtain product for ourselves, our friends and associates only to learn the hard way about fraudulent brokers and intermediaries!
We finally found the source! We can get direct to the source of product! In addition, we are not going to present to you a packaged product that may or may not exist!
Your product is custom compiled by the Source! That means we take an order from you based on what you want, and then get it compiled for you!
Step 1
Many investors know the value of a Bulk REO Portfolio while others may need or desire direct access to Bulk REO Portfolio Acquisitions for investment. Buying foreclosure properties presents a huge opportunity for agents, home buyers and real estate investors seeking pre-foreclosures, foreclosure auctions and bank-owned properties.
Property acquired by a lender through foreclosure and held in inventory is commonly referred to as REO. REO properties are great homes for investors to buy because they will generally buy the home for a price below market value, and there is a large inventory with a wide selection of different properties.
Real estate owned, or REO, is a type of classification of property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction. Real Estate Owned Properties are properties that either were not sold at auction or were properties for which the bank or lender accepted the deed of trust in lieu of foreclosing on the home.
Bank owned foreclosures and real estate auctions offer great deals on distressed properties throughout the United States and on the international market. However, banks are in the business of lending, not in owning homes so banks want to get rid of these properties; thus, they sell them as REO Homes.
Banks themselves hate being the owner of the property because it costs them the additional expense and burden of paying all of the property taxes and paying for the upkeep and maintenance of the property.
Banks, therefore, have a strong motivation to sell the property at the best available price. Bank officials have properly preserved lists detailing the REO properties under their possession. Therefore, properties that match your search will typically feature exterior and interior photographs, an in-depth description and the street address as well.
Banks typically like to sell these properties to investors that buy million dollar portfolios of REO properties at one time. This way banks can move hundreds of properties at one time, saving them time and money. Another motivator for banks is the fact that they generally don't like to show such properties on their books and try to liquidate them as soon as possible.
Step 2
Lenders usually sell their REO properties "as is" and without warranties, meaning they are not going to guarantee the plumbing, heating, cooling, water heater, sprinklers, etc. However, lenders do generally expunge all second and third liens, as well as delinquent taxes, HOA and mechanics' liens.
REOs will often include appliances. While in hot markets, you may not see a difference in price between an REO and a typical property, during slower markets, you can pick up an REO at discounts to the property's actual value. REO homes are usually sold below market value.
Theses properties can represent an investment opportunity when the property is worth more than the sale price. These investment opportunities are divided into two kinds: program properties and non-program properties.
Real Estate Owned Property provides lenders with either the peril, or responsibility of home ownership, as all lenders risk incurring the expenses of physical damage for any portion of their portfolio of owned properties, foreclosed properties, and properties in the process of foreclosure.
REO Management works closely with REO Portfolio Acquisition Specialists, who assist the banks in finding investors to acquire their excess REO inventory.
If you are interested in investing in Bulk REO Portfolios, it is recommended that you contact an REO Portfolio Acquisition Specialist, who can provide direct-source access to REO bulk packages, and a list of REO properties, which are usually exclusive, and available for a limited time period before they are released to the open market.
A knowledgeable REO Portfolio Acquisition Specialist will guide you through the maze of obtaining your Bulk REO Property Acquisitions. Most Bulk REO Portfolio packages can usually be acquired for as low as 29 cents on the dollars. Once you have provided the appropriate documents, the REO Portfolio Acquisition Specialist can have a tailored Bulk REO package in front of you within 1-3 weeks from the receipt, and verification review, of the required documents.
Step 3
The required documents usually consist of a letter of intent (LOI) from you, the buyer/investor, proof of funds (POF) to acquire the real estate portfolio, and a master fee agreement for final acquisition.
Once documentation and proof of funds (POF) have been verified, the master fee agreement (MFA) will be drafted for signature by the buyer/investor. The REO Portfolio Acquisition Specialist fee for services is typically ranges between 3%-7% of the acquisition price of the REO Portfolio.
Once the REO Portfolio Acquisition Specialist has received the signed MFA, the buyer/investor request will be submitted directly to the bank. The bank will compile, and prepare the requested REO Portfolio Tape for delivery directly to the buyer/investor within 1-3 weeks.
Once the REO Portfolio Tape is delivered, the buyer/investor will decide which properties he/she is interested in acquiring and will be put in direct contact with the issuing bank for final negotiation of the portfolio acquisition. The REO Portfolio Acquisition Specialist will require direct access to the buyer/investor prior to delivery of the REO Portfolio Tape, as opposed to an agent of the buyer/investor.
It is a surprisingly simple process when you have an experienced REO Portfolio Acquisition Specialist to assist you with your acquisitions.
This is one of the best times in the history of America to take advantage of the foreclosure real estate market. The banks are overloaded with toxic loans that they need to unload, and you are doing them a favor with your real estate acquisition. So take full advantage of this once-in-a-lifetime opportunity to create your wealth and financial freedom. Talk to your REO Portfolio Acquisition Specialist today at (909)266-3468.
Types of Properties Available in Bulk
Single Family Residences
Commercial
Multi-Family
Non Performing Notes
