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BULK REO

WEALTH FILES

INSIDER SECRETS

Ultimate Bulk REO Secrets Copyright 2010 © Mark B. Bradley

www.UltimateBulkREOSecrets.com

../www.UltimateBulkREOSecrets.com

Bulk REO Wealth Files: Insider Secrets



Table of Contents

Bulk REO: The Recession Money Maker………………….……………3

Why it is a good time to buy Bank owned properties?……….….……….……4

Foreclosures and Bank Owned REOs……..……………………..…………..........6

History of foreclosures and Bank REOs 1930’s ……………………………….…7

Resolution Trust and foreclosures in the 1980’s ………………………….8

7 reasons to buy bulk reo properties ………………………………………..10

Why buy bank owned REOs instead of short sales ………………………….12

The difference between non performing loans and REO …………..……….14

What is a BPO? Brokers Price opinion?..............................................…15

Top 35 List of REO banks with REOs to sell………………………….…………17

Why Bulk REO investing is a great investment strategy ……….…………..21

Buy Bulk REOS from 40% to 91% discount ………………………………….…23

Make $100,000 on your next Bulk REO Purchase Keyword …….…………25

Bulk REO Purchase Procedures …………..………………………………………..26

What is a Wholesale Bulk REO Purchase Program?............................…29




Bulk REO: The Recession Money Maker

With current legislation making the real estate market

nightmare, the hope and dreams of many real estate

entrepreneurs seem almost dashed. Once again, the big

guys got the bailouts and the little guys were left out in cold.

But there is a way out. There is one sure way to reincarnate

the real estate money maker. There is a way for everyone to

get their money and keep it too. It is called Bulk REO.

REO, “real estate owned properties” refers to assets a bank

or lender owns after foreclosing on a property. Bulk REO is a

group of REOs that a bank or lender groups together for

sale. The wonderful thing about Bulk REO’s is that they are

usually sold for a small fraction of the real value. To recover

some money banks often auction them off in a bulk at

steeply discounted prices. Needless to say, Bulk REO offers

real estate investors an excellent chance to regroup and get

back to the horse.

Bulk REO are below MLS, BPO, cheaper than private sellers,

auctions and are a fraction of any approved short sale price.

And the little known fact is that they are accessible to

everyone and anyone-even without cash or credit.

How? Simple! Bulk REO investing is based on the

relationships with key Bulk REO market players. You end is

to act as broker to the buyer or the seller and charge a fee.

Yes, you can represent them at the same time. See what I

mean?

Banks do not want bulk REO’s nor do they want their

associated costs, taxes, maintenance, insurance and utilities

and investors get them at substandard prices. Banks want




money not the bills. They have no financial gain by having

properties on the books. Real estate invertors want the

properties to get money by giving other people bills. And at

the fraction of the cost, it is a sweet deal. Everyone wins.

Despite how sweet bulk REO may seem, some caution is

advised.

To avoid loopholes, sinkholes and investing too much too

soon, Bulk REO investment requires training. Training offers

easy, concrete and solid strategies on maximizing

investments and avoiding risk. Like in any business, the

secret of how to go about it is limited to the lucky few who

have either figured it out on their own and those who have

actually decided to go trough with the training.

What Bulk REO training teaches you is how to increase the

profit from $15 000 to five to ten times of that per sale. It

teaches how to close a deal fast. It teaches you that anyone

can do it. It teaches you that do not need to be a middle

man. And as the learning curve builds up on acquired skills

to provide you with a one way ticket to what is dear and

near to all our hearts- money.

Bulk REO is a great opportunity to make money and join the

ranks of recession millionaires. The catch is tread carefully,

get training, make good picks, go slow and Bulk REO

investing can turn a sometimes profit into a great profit.

Why it is a good time to buy Bank owned properties

from Banks and lenders?

Recent recession has made a resonating impact to the Real

Estate market. Sputtering and slowing down trough investor

financing obstacles, real estate has simply stopped




delivering for the little guy. Considering it is the little guys

who do most of the work, this hardly seems fair. And it is

not. Life is not fair. That is - unless you are in the know of

the trade secrets of hidden money markets. And there is one

for real estate. It is called REO or Bank Owned Properties.

We all know what happens when a homeowner defaults his

of her mortgage. Property foreclosure and auction bidding.

No foreclosure bid and the once idyllic family home becomes

a bank owned property. Make no mistake, banks and lenders

are not in it for the property. Gained properties are as much

nuisance to them as to their former owners. Bills, repairs,

maintenance, you name it. From banks point of view,

hanging on to foreclosed property is the equivalent of

renting prime estate on a major fault line. And as far as

banks go - that kind of earthquake does not pay.

Furthermore, banks are required to clear their inventories of

bank owned homes or face the wrath of industry regulators.

Needless to say, banks on do not want houses. They want

money. And if they cannot get money thought mortgages,

they will get at least some of it by selling bank owned

houses.

That is the hard, not so cold, truth and great news for

struggling real estate investors. No financing? No problem!

To speed up the process and get back to what banks love

the most - lending and money making - Bank Owned

Properties sell at a mere fraction of the price. We are talking

about anywhere from 5% to 30% from market value. Talk

about getting dollars for pennies! And tying into that is the

fact that banks will gladly finance real estate invertors going

for Bank Owned Properties to give them time to work the

deals.




Most Bank Owned Properties are freshly rolled and in a very

good condition as banks put them on the market as soon as

they get them. Low price and good condition make these

properties an ideal choice to get back into real investor

game, guns blazing and wallets bulging.

To get your hands on the best bank owned properties, it is a

good strategy to keep informed. One ay is to search bank

foreclosure listings. They provide bank owned property

information with the click of the mouse. Time saving,

efficient and educational, foreclosure listing are best cheat

code for bank owed properties spinning.

To summarize:

Bank Owned Properties:

Banks do not want them… They sell them in a bulk…

At the fraction of the price... In good condition... No financing required… Easy profit…

And you thought Christmas was once a year….

Now go out there and make money!

Record Number of Foreclosures Means a Record

Number of Bank Owned REOs

With the recession looming, homeowners are in a financial

bind. It is in equal parts bad and good news. Bad for

average real estate agent as property purchases are hitting

the record low. Good for real estate investors as property

foreclosure are hitting the record high. Foreclosures end up




as Bank Owned REO Properties, and banks, having no

interest in bothering with upkeep, sell them in bulk for

pennies. Pennies that turn to dollars when bulk bought

properties are resold. Real estate investors’ dream.

Hard facts back up the promise.

With the 2010 unemployment rate hitting 10.5%, the

number of homeowners defaulting on their mortgages is

surging. Foreclosures are reaching as many as 7 million

mortgages, with additional 5 million being at risk of default

where borrowers owe more than the property is worth. The

2010 US Foreclosure Market reports 15% percent increase

from 2009, with total increase of 38 percent from 2008,

meaning that roughly one in every 409 US households has

filed for foreclosure. This is the highest foreclosure rate since

the real estate buckling began in 2005.

The Bank Owned REO activity is up 31 percent from January

2009 with default notices up 4 percent from 2009 and

scheduled foreclosure auctions up 15 percent. California,

Florida, Arizona, Illinois, Michigan and Texas are focal points

accounting for 60 percent of national foreclosed properties

with Nevada, Georgia, Ohio and New Jersey following close

behind.

Faced with deteriorating situation, lenders are moving in on delinquent loans and pushing foreclosures. As banks and loan servicers work their way through loan-modification applicants, Bank Owned REO Properties are increasing and starting to choke strictly scrutinized bank system. According to current trends, bank owned REO properties are expected to peak at 538,000 by fall of 2011. Desperate to clear the books of accumulated REO bank are selling them in bulk at the lowest observed rates. Financing is not an issue. With




rapid and convenient Bank Owned REO Property sales

process, lenders typically respond to written purchase offers within 48 business hours.

Market is flooded with Bank Owned REO Properties.. Banks

do not want them. Real estate investors need them. Prices

are at the record low and the time to strike is now. With so

many players in the game, the trick to get ahead of the

curve is to get access to Bank Owned REO Property lists.

Without lists in hand the pickings are slim and the profits

partly. While the lists are kept in good confidence, savvy

real estate investors know - where there is will there are

means. Getting to bank owned REO lists is as easy as

singing up with trusted REO expert.

Bank Owned REO Properties are a nice a convenient way to

get your money maker going again. While some consulting is

advised to get to best Bank Owned REO Property lists, the

effort and the time spent is well rewarded. Bank owned REO

properties – the best way to make money today.

History of foreclosures and Bank REOs 1930’s

Real estate is not immune to market conditions. If history of

foreclosure is anything to go by, real estate, same as mere

mortals are affected by constant ups and downs of economy.

The US foreclosure story goes back to early 1930’s. The

Great Depression hit US with resounding crash of the Wall

Street Crash in October, 1929. Sweeping like unstoppable

wave it bowled over US economy, crushing employment,

housing and bank markets. Coincident sand storm and

draught season hitting US with vengeance added to misery

of farmers. Resulting fallout marked the beginning of a




decade of high unemployment, low profits, deflation, and

yes Bank REO first recorded highs in US history.

The jobless and farms hemorrhaging money could not

finance the mortgages and thousands of houses and farms

went to foreclosure. Homeowners and farmers alike pledged

their assets as security on the loans. Desperation and loan

rates flew high, wages and income run low and many were

left with little choice but to sell their homes and farms to

manage incurring debts. In rates similar to those observed

in today’s recession nearly 0.73 percent of all housing in the

US ended up as bank REO. While some attempts were made

to slow down the foreclosure on agricultural sector with

passing of the first major farm legislation, the Agricultural

Adjustment Act of 1933, it was but a drop in bucket. Most

went under anyway, ended up ad bank REO’s and more to

boot, the federal government's agriculture control brought

more headache than good on the long run.

Farm and housing properties alike could not escape the

wrath of foreclosure and in the end ended up as bank REO’s.

With increasing trends home loans hit the all high of roughly

1,000 daily foreclosures by 1933. The foreclosure rate

growth exceeded 1 percent annually from 1931 to 1935,

with 10 in every 1,000 households falling prey to collectors

and banks. While concrete data on exact delinquency rates

for 1930’s are not clear, records do indicate that the number

of foreclosed homes in 1930’s was close to 217,250.

Hard times and failing economy lead to the birth of the first

known Bank REO auctions, the so called “penny auctions”.

Trying to salvage costs, banks set to sell acquired

properties, land and equipment expecting to make hundreds

and very likely thousands of dollars. Things however do not




always work out and banks had little choice but to sell for

the mere pennies of the real value. Much like in today’s

Bank REO’s bank did not make money on sales but merely

purged the properties from its lists of assets. The real

winners were parties buying off Bank REO’s trough penny

auctions to do with them what they will following the title

transfer, that being habitation, rent or resale.

History teaches us a valuable lesson once again. Whatever

the underlying circumstances may be there is always a way

to cut a deal and make money. Fortune favors the brave.

And the informed.

Resolution Trust and Foreclosures in the 1980’s

Resulted in Many Bank Owned Bulk REO Properties The 1980’s started with a bang. Aggressive real estate

investing has run its course and crushed USA economy

tough collapse of savings and loan associations. USA faced a

new financial crisis swatting the real estate and the

government alike. Once again foreclosure reared its ugly

hear, banks busted at the seams with REO Properties and

real estate investors everywhere rejoiced. Principe was the

same with some subtle differences. This time around more

investors were aware of just how to take advantage of the

Bank Owned Bulk REO Properties.

Amidst the new economic crisis, USA Government came up

with a bailout bill to limit the damage by merging or closing

down the insolvent savings and loan institutions. Resolution

Trust (RTC), USA government-owned asset Management

Company was created and charged with liquidating




properties and assets deemed insolvent by the Office of

Thrift Supervision, ie. the Office of Bank Supervision.

The RTC mission?

Dispose of the Bank Owned Bulk REO Properties as quickly

as possible for maximum value.

The goal?

Reduce taxpayer exposure.

And - make money!

To ensure no ground was left uncovered, RTC implemented

five distinct partnership programs, Multiple Investor Fund

(MIF), N-Series and S-Series Mortgage Trusts, Land Fund

and JDC Program. When initial unsuccessful attempts to

capitalize on the bulk resale of insolvent (read Bank Owned

Bulk REO) properties failed to bring desired profits, RTC

came up a strategy that took the game to the next level.

Understanding that increasing demand runs the sales under

any conditions, RTC concentrated on generating and

increasing interest in Bank Owned REO Bulk Properties.

What a better way to do so than by launching brand new

“equity partnership” program. Trough equity partnerships

RTC single handedly pushed for Bank Owned REO Bulk

Properties management and sales on their own terms.

Private sector equity partners inflated the interest in Bank

Owned Bulk REO Properties, while RTC controlled the

management, distribution and sales. In other words, RTC

successfully executed the drive and demand driving the “ka-

ching!” trough the roof.




The strategy was simple. Swoop in and seize Bank Owned Bulk REO Properties. Generate interests. Then resell the same assets to bargain-seeking investors. The strategy worked like a charm. By 1990’s RTC moved some 747 Bank Owned REO Properties, owned 350, generated $400 billions and deservedly tapped itself on a shoulder for having the foresight to move money during economic crisis.

But all good things must come to an end and so did RTC. By 1995, economic crisis fizzed out and RTC derailed to Savings Association Insurance Fund (SAIF) under the Federal Deposit

Insurance Corporation. Following the fate of many insolvable properties it handled for a decade, RTC too was then dissolved and most assets sold.

The good times rolled, the money lasted for a long while and the lessons learned were invaluable to future real estate investors. Get going while the going is good! Or you just might miss the train... and that is a one way ticket…

7 Reasons to Buy Bulk REO Properties

Nine to five not your thing? Thinking of investing in Bulk

REO? I can tell you with certainty of years of experience in

Bulk REO properties that this is a great decision. It is also

the one that could make you thousands of dollars. And if

making good money is not reason enough to go for it there

are seven more great reasons to buy Bulk REO properties.

Let’s start the countdown:

1. Bulk purchasing

Much like tomato sauce in Price Choppers, Bulk REO

Properties come in wholesale packs and great prices.

Bulk REO Properties sell up to 50% of the real value.

Banks do not want to waste money taking care of




them. The best they can do is selling them at

discounted prices to clear their books. Everyone wins

and you toast over a great profit margin.

2. Debt free investing

Worried about financing? Don’t be! Banks are so eager to get rid of Bulk REO Properties that low prices mean you are likely to find many financial sources ready to back you up. Hard money, commercial financing and

non conventional hedge funds and private investors are all on the plate. With them on board, you profit by gaining properties and not the debt. Isn’t life grand?

3. Minimal risk exposure

The wonderful thing about bulk REO is that it does not require large investments. Better yet it does not mean big loans. What it does mean is purchasing Bulk REO

properties in good condition at the fraction of the price and reselling them at full price. And that means minimal risk exposure. Meaning, invest away. And strike while the iron is hot.

4. Direct access to bulk REO dealers

Access! Access! Access! That is the key to Bulk REO purchasing. Many have tried and failed without means

of getting to coveted REO sales lists. No need to waste for untold hours knocking on firmly closed doors. Success comes with something as easy as going with your local bulk REO property expert with direct access to the coveted lists. A great way to stop wasting time and start making money.

5. Access to shadow inventory




Shadow inventory, a simple way to call a list of 2 to 8

billions worth of homes in default and foreclosure, can

have grown weep and bulk REO investors pull their hair

out in frustration. Frustration because shadow

inventory is one of the best kept list in bulk REO

purchasing. And “hair out” because you must have it to

make money on bulk REO. But fear not. Join any Bulk

REO expert and shadow inventory is yours for the

taking. And the money making.

6. Profit

Simply put Bulk REO Properties mean cash. With banks rolling bulk properties at low prices, entrepreneurial REO investors have unique chance to take advantage of favorable conditions. Minimum investment for maximum cash. What more can an investor ask for?

7. Immediate income

Short of wining a lottery bulk REO is a perfect way to

stuff oneself with cash to the gills. By purchasing bulk

REO properties at 50% off and reselling them at full

price, the difference turns into immediate income. No

waiting, no hassling and no question about it.

So while bulk REO properties are not for the faint to heart,

they are definitely for the ones fond of money. Because any

way you spin this story, bulk REO purchasing means low risk

and great profit. Period.

Why Buy Bank Owned REOs Instead of Short Sales

Question that often pops up is – why go for Bank Owned

REO properties instead for short sales? It really all comes




down to which method brings you more money, at lower

risk, faster. With current market conditions real estate

investing is hard enough. Now more than ever, it is time to

go with strategy that guarantees success.

Comparing short sales with Bank Owned REO properties is

really comparing pears with apples. The script is the same.

The differences are in lender’s legal ownership of the

property, sale conditions and consequently the sale price.

It is a familiar story. Homeowner is behind on their

payments and the property is heading toward foreclosure.

And it goes two separate ways from there.

Short sale is sale of distressed property before it hits

auction. The property is owned and sold by the homeowner.

Bank or mortgage lender agrees to discount a loan balance

on the property, the owner sells it for less than the

outstanding balance of the loan, and turns over the proceeds

of the sale to the lender. Consequently, homeowner will try

to get as much as he can out of the sour deal and hike up

the price. The homes purchased are as is, and chances of

having homeowners do repairs are slim to none. Can you

blame them? In short sales, the homeowner’s motivation is

money. And 100% of the time they will go for the highest

offer. Similarly they will wait to make the sale to make sure

they receive the highest offer. You may spend good time

waiting and never hear back from the seller. Waste of time

and money, wouldn’t you agree?

In bank owned REO’s, the bank owns and sells the property. Bank owned REO property has been acquired by the lender through a foreclosure action. Banks really do not care for




keeping the property. For them property means

maintenance. And maintenance means loss of money. This is why banks will let the bulk REO properties go for much less than the loan balance. In fact, banks is so willing to get rid of REO that it is possible to make an offer contingent upon an inspection to see if any major repair work is needed. And with the owner out of the picture buying Bulk Bank Owned REO means no haggling, great price and in short - a sweet deal.

The bank’s motivation is to sell properties fast. While bank will not go unreasonably low, the highest price will still be well under the short sale price. And auction style sales means you will know where you stand in short order. As a serious real estate investor you have to ask yourself a question: What is your goal? Serious money or counting pennies?

Are you willing to wait and risk ending up with a zero? Or - would you rather swoop in and score a handful of properties for a great price at …say…..50% off? I think the answer is clear. To make good money - you must act fast. See the deal, grab the deal and run with it. Otherwise you will be left out in the cold.

Non Performing Loans vs REO Bank Owned Property: How Do They Differ?

To make real estate investing work for you, you must always

take into consideration economic conditions that dictate




which type of real estate investment is the best choice at

any given time. Do you know your basics? What are Bank

Owned REO Properties or non performing loans? What is the

difference between the two? It is quite simple really.

Both non-performing loans and REO Bank Owned Properties

are the unfortunate children of economic fall down. As

economic crisis takes swing so does loosing homes as

struggling homeowners cannot keep up with loans and

mortgages.

An adaptation of the well know children rhyme “First comes

a non performing loan then a foreclosure” does well to

illustrate the progression of distressed property handling and

the major difference between the two concepts. Whereas

they undoubtedly trod the same road, the difference in how

far along the road each is.

Say a homeowner cannot afford to pay a loan anymore. First

month the bank lets it slide. The second month, they mail

the letter. The third the gavel comes down – the property

has been declared a non-performing loan. For all intents and

purposes non-performing real estate loan is a property loan

that has defaulted or is in danger of defaulting when

homeowner cannot make payments any longer. With some

exceptions, three months is all a homeowner has to turn

over the dough before his loan is declared non-performing.

And current economic conditions being as they are, non-

performing loans are sprouting like mushrooms after rain.

Financial corporations specializing in non performing loans

will help with purchasing a loan that best fits individual

financial portfolios. By liquidating involved assets they can

realistically provide a good value. But not a 50% discounted

price. Not with complementary property repairs. Not bulk.




And certainly not without tons of paperwork and fees. None

of the things Banks Owned REO can and will do to move the

sale along.

Bank owned REO property, on the other hand, is the next

step in the distressed property timeline. No payment on a

property loan will sooner or later result in “walking the

plank”, in other words the dreaded foreclosure. Foreclosure

unceremoniously plunks down distressed property to the

auction table. Properties that cannot be auctioned off it end

up as Bank Owned REO Properties. With current economy

banks have a veritable tsunami of real estate properties

coming their way. Wildly scrambling to regains at least some

money and clear the books, banks sell Bank Owned REO

Properties like tomatoes on local market, at a discount, liens

and other expenses on the home removed.

While both are viable options for a real estate investor,

everyone wants to buy where a deal is better. And in real

estate, affordable, bulk, plenty and flexible of Bank Owned

REO is a far better than a sometimes, costly, and rigamarole

non-performing loan.

And who wouldn’t go for a deal that will brings maximum

profit on a minimum investment, fast.

What is a BPO? Brokers Price opinion?

What is a REO property worth? How do you know you are

paying a fair price? Who calls the shot? The answer is -

Brokers Price Opinion (BPO).

Three little words define how the banks, lenders and

mortgage companies value and price properties where:

Appraisal is not deemed necessary




Delinquent property is pending foreclosure

Property is about to be refinanced

Somewhere along the distressed property timeline, banks

want to know what’s in it for them. Can they realistically sell

it or ship it over for a foreclosure, auction and ultimately

bank owned REO. Broker Price Opinion (BPO) is an

affordable and great way to figure it out. Based on Broker

Price Opinion (BPO) banks make the verdict and set the

price. Properties that are valued high go to short sales and

those that are low go straight to foreclosure and bulk reo

sales lists.

A broker evaluates a property and gives estimation on its

value by assessing the following:

Comparable properties value Local sales trends,

Associated costs of having a readying a property for a sale

The Cost of repairs, if any, needed

There are two ways a broker can go about this:

Drive By BPO or, Internal BPO

Drive By BPO

Drive By Brokers Price Opinion (BPO) have very specific and variable information requirements. Typically Drive By Brokers Price Opinion (BPO) involves an evaluation of property condition, location, conformity and amenities, including but limited to:




Broker information

Property type, style and age. Property size, square feet, lot size, number of rooms Property Location Conformity to neighborhood and zoning Exterior feature evaluation and condition. Habitation status. Occupied or not? Amenities. Parking, pool, gym? Property photos. Two minimum Minimum of three recently sold comparable properties

Minimum of three currently listed comparable properties.

And for all that, the price of Drive By Brokers Price Opinion

(BPO) is a round $50.

Internal BPO

An internal Brokers Price Opinion (BPO) is another story all together. Broker goes after everything covered in Drive By BPO and then details interior. Square footage, room count, room photos are all collected, including:

Room measurement. Square footage. Condition of interior features. Value adjustments to comparable values Room photos

Interior damage photos Repair estimate if applicable Cleaning estimate

Internal BPO may also include taking care of:

Lock rekeying Winterization. Trash removal




Snow removal

Damage repairs Trash removal Securing the property

And of course, with all that an Internal Brokers Price Opinion (BPO) rakes up to a nice price tag of up to $175.

Costing less that appraisal, Brokers Price Opinion (BPO) is a

win-win solution for anyone, for the homeowner looking to

refinance, for lenders looking to put a property to

foreclosure auction, banks figuring out prices for bank owner

REO properties, and for the real estate investor looking to

cut a deal.

Top 35 List of REO banks with REOs to sell

In bulk REO property investing getting to right REO lists is

crucial and going straight for the best source is the way to

go. Like in any market, in Bulk REO there are the top dogs,

the favored few and the powerhouse banks behind property

lists. The top 35 REO banks with red hot REO properties to

sell are:

1. AmSouth Bank

URL: Regions Bank Owned

2. Bank Of America

URL: Bank of America Bank Owned

3. BB&T

URL: BB&T© Bank Owned

4. Citibank

http://realestate.regions.com/servlet/Ore/ForeclosedPropertySearch.jsp

http://bankofamerica.reo.com/search/PropertySearch.aspx

http://www.bbt.com/bbt/applications/specialassets/search.asp




URL: Citibank Owned

5. Compass Bank

URL: Compass Bank Owned

6. Fannie Mae

URL: FannieMae Bank Owned

7. FDIC

URL: FDIC Bank Owned

8. Fidelity National Financial

URL: FIS Bank Owned

9. First National Bank of Alaska

URL: FNB Alaska Bank Owned

10. First Preston

URL: First Preston Listings

11. HMBI

URL: HMBI Property Search

12. Home Loan Bank

URL: Home Loan Bank Owned

13. HSBC

URL: HSBC Bank Owned

https://www.citimortgage.com/Mortgage/Oreo/SearchListing.do

https://www.compassbank.com/appforms/properties/index.jsp

http://www.fanniemae.com/reoSearchApplication/fanniemae/reoSearch.jsp

http://www4.fdic.gov/DRRORE/

http://www.fidelityinfoservices.com/fnfis/markets/financialindustries/mortgage/defaultsolutions/techsolutions/buybankhomes

http://www.fnbalaska.com/363.cfm

http://www.bidselect.com/?siteid=62400

http://www.hmbireo.com/listing.php

http://www.hlibreo.com/

http://www.banking.us.hsbc.com/HICServlet?cmd_PropertySearchDefault=cmd_PropertySearchDefault




14. HSBC Commercial

URL: HSBC Commercial Owned

15. HUD

URL: HUD Owned

16. Indy Mac Bank

URL: IndyMac Bank Owned

17. Integrated Asset Services

URL: IAS Bank Owned

18. JP Morgan Chase Bank

URL: JP Morgan Chase Owned

19. Kennedy Funding

URL: Kennedy Funding Owned

20. Kentucky Housing Corporation

URL: KHC Owned

21. Keystone Asset Management

URL: Keystone Asset Management Bank Owned

22. Lenders Asset Management

URL: Lenders Asset Management

23. M&T Bank

http://www.us.hsbc.com/1/2/3/business/borrowing/real-estate/for-sale

http://www.hud.gov/homes/index.cfm

http://apps.indymacbank.com/individuals/realestate/

http://www.iasreo.com/homesforsale.aspx

https://crela.chase.com/LDSWeb/propertyListing.do

http://www.kennedyfunding.com/for_sale.html

http://www.kyhousing.org/apps/REO/

http://www.keystonebest.com/reo/reo_inventory.asp

http://www.lendersreo.com/DefaultServices.aspx




URL: M&T Bank Owned

24. National Bank of Arizona

URL: National Bank of Arizona Bank Owned

25. NewBridge Bank (former Lexington State Bank)

URL: NewBridge Bank Owned

26. Ocwen Financial

URL: Ocwen Bank Owned

27. People’s Bank

URL: People’s Bank Owned

28. PNC Bank

URL: PNS Bank Owned

29. Premiere Asset Services (Wells Fargo) URL: Well Fargo Bank Owned

30. Private Financial Services (Bank of OK) URL: PFS Bank Owned

31. Regions Bank URL: Regions Bank Owned

32. Zions Bank

http://services.mandtbank.com/personal/mortgage/reomort.cfm

https://www.nbarizona.com/BankOwnedProp.htm

http://www.newbridgebank.com/property_for_sale.asp

http://www.ocwen.com/reo/residential/res_reofindbystate.cfm

http://www.peoples.com/about/community/0,8397,1355,00.html?cm_mmc=Peoples-_-Redirects-_-/im/cda/multi_elements-_-1355#rbo7

http://www.realtyservices.pnc.com/

http://www.pasreo.com/pasreo/public/propertySearch.do

http://www.bokproperties.com/realestate/search.asp

http://realestate.regions.com/servlet/Ore/ForeclosedPropertySearch.jsp




URL: Zions Bank Owned

33. U.S. Bank

URL: U.S. Bank Owned

34. Unity Bank

URL: Unity Bank Owned

35. Western Bank

URL: Western Bank Owned

The golden rule of sales stands - for the best deals go

directly to the supplier. And for real estate investor that

means going to banks for bulk REO lists to fully profit from

toe curling discounts. You don’t have to go trough a middle

man. You don’t have to share toys. You do not need

someone else to make introductions. You can have your

cake and eat it too. Successful ROE investors known that to

make it, they must go straight for the top. So - smile and

introduce yourself “Hi I am so and so, the real estate

investor. I am here to take bulk REO off your hands. You will

love my offer and here is what I can do for you…”

You will like the results.

Why Bulk REO investing is a great investment

strategy?

Bulk REO investing is a saving grace of many real estate

inventors desperate to climb out of the recession hole. And

with a good reason. Bulk REO is a sure way to bring in

http://www.zionsbank.com/foreclosed_properties.jsp?leftNav=specialty_fore&topNav=sbanking

http://www.usbank.com/cgi_w/cfm/personal/products_and_services/reoPropertiesReq.cfm

http://www.unitybank.com/propsales.asp

http://www.wbpr.com/WBPortal/Resources/?ResourceName=%7b8103FCEA-0BF8-40DF-BBB8-3B47B6BD4050%7d




millions for pennies. All you need is nerves of steel, good

guts, solid strategy and great love for what we all hold dear-

money.

Love for money is a given if you take time to read this

article. So are the guts if your bank account is on a ready.

We will supply the strategy and nerves of steel come with

practice so don’t worry about that for now.

After all, bulk REO investing all it is not much different than

paying poker. With cards open. Oh yes! In Bulk REO all

cards are on the table and your bank account better be on a

ready. Rules are simple enough. Keep your cool, don’t

expect miracles, don’t bet too high, be good for your money

and for god sakes do not try to cheat- you will be caught.

Play the right card at the right time and you will clean the

table.

What it comes down to is that as far as strategy goes, Bulk

REO investing is your game as it has easy to follow rules:

Going is good while demand is high and supply good.

With so many properties going in foreclosure, supply of

bulk REO is reaching epic proportions. Banks are itching

to clear out their over-flooded books. Demand for

money making flips is high perfectly matching the

supply. It is clear skies for a gutsy REO investor.

Bulk REO sets realistic goals.

Think millions, not billions and you will better be able to

gauge the angle, the investment needed and the

weighed risk. There is nothing worse that trying to

jump a mile and falling short by a meter. Start smaller,

work your way up and you will succeed.




Good reputation reels the money in.

We all have to start somewhere. Same with Bulk REO.

Do not hesitate to contact the bank with a nice rooster

of Bulk REO ready for taking. To pony over Bulk REO,

banks want to be sure you are good for it. You need to

build trust. Start off with a few smaller investments to

build credibility. Once you have it, you are on your way

to the big leagues.

Open cards.

Bulk REO is a simple transaction with simple rules. You

pay and banks give you Bulk REO. Going in with the

major bank guns blazing just to kiss the wall when they

ask for few million you know you don’t have - is bad.

To avoid having the door slam shut in your face, be

honest. Communicate your budget, start with smaller

banks and move up. Banks love a reliable investor.

Adaptability.

With bulk REO, you can work on your own schedule and

at you unique abilities. The wonderful thing about Bulk

REO is that it works with any budget. If few million is

out of your reach start smaller. Low risk means

anyone can make it in Bulk REO investing as long as

they apply solid business practices.

Bulk REO is the investing of the future. As strategy and

income builder it is superior to many investment strategies

that deal with red tape and small print. By borrowing from

established practices of simple supply and demand, Bulk

REO is simple the best thing around.

Make $100,000 on your next Bulk REO Purchase




All set to purchase Bulk REO? Ready to start making money?

How much money can you realistically hope to make? Quite

a lot actually. The conditions are so good you are looking at

six figures. And making a $100 000 off of bulk REO purchase

is as easy as the 1,2 3:

1. Timing.

Now, more than ever, is the right time to purchase Bulk

REO! With current economic dip, there is so much Bulk

REO to go around that banks are throwing it on the

market at 50% of real value. You can realistically

expect to make a great investment and flip it for a

good profit. Financing is not a problem, the risk is

minimal and the money is great.

2. Deals.

There are a lot of great offers out there – and a lot of

was to make a great deal! Bulk REO profit depends on

what kind of deal you get. In equal parts luck, access

and good networking, making a great deal is as easy as

being at the right place at the right time. Get access to

bulk REO lists. Build good relationships by covering

your investments. Mingle. Get your name out there.

Network. Ask for professional help. Like in any other

business if you want to make a great purchase and sell

at a good price you need the right connections. That

means going with bank or becoming a Tier 1 buyer.

Either way you get to purchase bulk REO:

Wholesale

At great discounts

With maximum sale potential to secondary buyer




Right connections also mean more financing. Leave the

stories of million dollar investors to fairytales. Realistic

aim is to get few investors in on the deal and make the

offer.

3. Commission.

No one works for free and neither should you. Set a

good commission! There are three ways to go about it:

Mandate or Broker

Cash Buy Approach Rent or Sell Approach

Mandate or Broker

The profit on purchased Bulk REO depends on how well

you can spread the price. You need to have a clear goal

of how much money you expect to get and set your

commission accordingly.

What is you commission? One percent? Three percent?

More?

What is you commission goal? $10, 000? $50, 000?

$100, 000? Yes?

If you purchase Bulk REO for $1 million and sell it at 1

% commission all you get is $10 000, a paltry pickings

for the new mover and shaker. At 3% you get a round

$30 000 and some regrets. With commission at 10%

and $1.1 million sale, voila a nice round $100 000 goes

straight to your pocket. Get the picture?

Cash Buy Approach




No banks? No connections? No problem! Work as Tier 1

buyer! Tier 1 is private equity hedge funds, real estate

investment trusts, or high net worth investors who can

finance bulk REO packages of 100 plus properties

Rent or Sell Approach

After you purchase Bulk REO you have a choice- you

can sell it or rent it. Traditional mortgage is a nice way

to make money off of purchased Bulk REO.

REO sales offer great opportunities. You can make as

much as $100 000 profit when you purchase bulk REO.

It all comes down to making the right connections

picking a good deal and making a smart sale.

Buy Bulk REOS from 40% to 91% discount

Ever wonder where you can get the cheapest bulk REO for

your money? Yes, you can buy Bulk REO for up to 50%

discount. How about at a 90% discount? Why yes, I do have

their phone number. Read on.

Following the unwritten market rules, for best price go

direct, applies to bulk REO. Purchasing directly from the

bank significantly cuts the costs and can lead to 40 to 90 %

discounts. Who would pass up an opportunity like that?

Anyone, who is not aware such an opportunity exists.

So why is buying REO directly from bank so great? How is

90% discount possible? Three word answer – no retail price.

Whoever retails wants to make something on it. Same with

Bulk REO. When you buy bulk REO from source other than a

bank the price gets higher and your discount smaller. Banks

are in it to get rid of properties and they do not really care




to make money on it. They get their share from mortgages.

They want you to take bulk REO off their hands and sell it to

someone who will go in with a mortgage. So they waive

many costs associated with Bulk REO purchase.

All you have to do is pay on time what is asked of you.

Knowing that there is a great bulk REO sale going on but not

knowing where, how and who does not do you any good. To

score the best bulk REO discount, you have to be at the

right place at the right time. You must have money to buy.

And you must have connection that will lead you to the tape

where you can buy bulk REO at 90% off. In other words you

need access to nationwide REO property list.

There are few ways you can go about it but the best is to cut

search time by getting to people and organizations working

directly with banks that have access. Let’s face it no one will

advertise a great sale, because everyone and their mother

wants in on it.

When dealing directly with banks make sure you are well

prepared and all your bases covered. Do not go in blindly.

Many people make a mistake treating directly to a bank as

an information session. This is a mistake that could cost you

a nice bulk REO at a great discount. Have your paperwork,

information and money on the ready. When you go in

negotiating several million worth of bulk REO with a bank

they expect you to have the funds to make the purchase.

There is no try. It is do or do not. And considering the

money at stake I’d odds are you will go for a “do”.

While you can find a good deal on bulk REO, going directly

to the bank brings you the best discounts. Buy Bulk REO




directly and don’t let the chance pass you buy. After all

where else can you get a dollar for a penny?

Bulk REO Purchase Procedures

The main advantage of Bulk REO Purchase Procedures is the

lack of red tape slowing down mainstream real estate sales.

Bulk REO purchasing follows a simple, yet effective and well

outlined procedure, a go-between between the Buyer,

Escrow, Buyer’s bank and Broker of Records to obtain

required information and satisfy sale conditions. The goal of

purchase bulk REO procedure is to define the property, the

buyer, the seller, sale price and fund information. The

process requires completion and submission of Bank Letter,

Confidentiality and Non-Circumvention Agreement, General

Fee Agreement and Buyer Profile trough ten well defined

steps:

Step 1: Completing and transmitting of purchase bulk REO agreement. Buyer’s Mandate/Buyer sends a completed purchase bulk REO agreement to the Real Estate Company via email/fax/upload.

Step 2: Transfer of purchase bulk REO agreement to Escrow. The Real Estate Company transmits this purchase bulk REO agreement to Escrow and the Broker of Record.

Step 3: Based on the received purchase bulk REO

agreement Escrow quotes and transmits Buyer’s mandate/Buyer the request for a Bank Letter.

Step 4: Buyer’s bank transmits the Bank Letter to Escrow.




Step 5: Escrow Officer verifies the funds by contacting

Buyer’s bank and, conditional to positive results, notifies the Broker of Record.

Step 6: Broker of Record forwards the offer with the

bank proof of funds for purchase bulk REO agreement to the REO bank, who puts it into queue to be sold to the highest bidder.

Step 7: if Buyer’s bid is accepted, the selling REO Bank

takes the next step by:

o Sending the tape to the Seller’s Agent for delivery to the buyer

o Blocking the tape in the Buyer’s name for a 3 day period.

Step 8: Depending on the seller, the buyer is given an

exclusive 48 hour period to examine the tape and decide if he/she wants to proceed in performing his due

diligence. Buyer that wishes to precede wires a deposit to Escrow’s banking coordinates. Deposit, when received, continues to block the tape for the buyer’s benefit.

Step 9: To complete the sale by wiring Purchase Price

as stated to Escrow for the purchase bulk REO package

he/she has chosen, buyer has:

o (3) Banking days from the time he/she has wired the deposit for any order of $25 Million or less.

o (5) Banking days from the time he/she has wired the deposit for any order over $25 Million.




Step 10: As the last step of bulk REO sales, the Escrow

Officer arranges for Title Insurance, transfer documents, and all other forms necessary to close escrow. All payees must e-mail the Broker of Record their banking coordinates so their commission checks can be sent to them. Escrow closes and pays all concerned.

During proceedings Confidentiality and Non-Circumvention Agreement is singed and stamped by all parties. General Fee

Agreement is completed and validated. Depending on the agreement, Buyer irrevocably instructs Escrow to release a small percentage of the selling price, payable in equal amounts to the Buyer’s Mandate (where applicable), Seller’s Representative/Mandate (where applicable) and to Real Estate company involved. For selling price percentage of 3% this means 1% to each of the three parties involved.

Is it possible to back out of the deal? Yes, there is a

procedure that lets you back out gracefully. In cases where

a Buyer does not wish to proceed with property acquisition,

he/she are obliged to notify Escrow. Escrow will refund 90%

of the deposit, with the non-refundable 10% used to

liquidate damages. Following completion, bank makes the

REOs available to the next highest bidder. Escrow notifies

the Seller’s Representative, who in-turn notifies all payees,

should the transaction fail to close.

Simple, effective and precise - Bulk REO purchase procedure

is designed to ease the process and make all parties happy.

Bank gets the money, administration gets detailed

paperwork and real estate investor gets bulk REO hassle

free and in short order. No wonder so many real estate

investors are flocking down to purchase bulk REO.




What is a Wholesale Bulk REO Purchase Program?

Wholesale is the next level REO purchasing for experienced wholesale buyers. It is essentially going from dabbling with smallish REO packages to swimming with the sharks. As one of them. As intimidating as it may seem, wholesale bulk REO is really an easy to follow process. Wholesale Bulk REO takes advantage of a small window of time where REO properties are available for quick purchase in national and state pool runs before they are moved over to traditional liquidation programs. With wholesale bulk REO timing and acting fast is everything. Once the deal is gone, it is gone. Wholesale bulk REO is available trough proprietary inventory access from the top 50 banks, hedge funds, insurance inventories, and mortgage companies. With minimum order set to $10,000,000 to unlimited, the possibilities are endless. With something as great as wholesale bulk REO there are few requirements, representations, warranties and special instructions that must be followed.

To get a fast train to wholesale bulk REO, there are few requirements:

1 Signed Mutual Non-Circumvention/Non-Disclosure Agreement

2 Signed Buyer Profile Form 3 Signed Custom Purchase Order Form 4 Letter of Intent

5 Letter of Credibility/Credit Representations and Warranties for wholesale bulk REO include:

Portfolio and Order Profile:

o Assets are sold as is




o Acquisitions division will try to match the asset

pool with the Buyer’s Profile and Custom Order o Exceptions are minimal o Picking/ choosing not available o Property pools are formed from a single or more

asset providers.

Purchase Contracts

o Variable on case basis

Asset Representations:

o Fully foreclosed o No outstanding liens or encumbrances o Clear title commitment issuance at closing o Buyer foots other closing costs

Special instructions for wholesale bulk REO include:

For a Pre-Program, depending on a case:

o Complete Mutual Non-Circumvention/Non-Disclosure Agreement (One time only)

o Complete Buyer Profile Form (One time only) o Complete Custom Purchase Order Form (For each

order) o Submit Letter of Intent (See sample below: Must

be on buyer’s personal or Company Letter Head. It should include info from the profile, purchase order, exit strategy and future order intentions. Must be written in paragraph form)

o Submit Letter of Credibility/Credit - This is NOT Proof of Funds. Letter must be from a bank, mortgage broker, hard money lender, or attorney, stating the buyer can perform on the size of the portfolio the buyer is requesting.




o Have Proof of Funds available to provide directly

to the source

For Source:

o Source Contact o Source will contact the buyer. o Source works directly with the buyer, after Proof

of Fund and verification completed

Custom order placing Property list is given to the buyer Due diligence period is three to five days, depending on

source Properties are to be verified with source Closing involves working with Title Company

While wholesale bulk REO does require some effort and qualification, the discounts and profits generated well justify the little work needed. Anyone who’s in real estate investing

dreaming of making it big is well advised to take time and effort to explore wholesale bulk REO.

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