Guidemap to finding REO Gems...let the adventure begin!

Guidemap to finding REO Gems...let the adventure begin!

During the past few weeks, I have had several DG Members inquire about finding REOs. Thus, I hope this information will be useful and informative to the DG family.

The following is my REO action plan that I created and I hope you will achieve many results with REOs and will share your results, strategies and additional tips, with the rest of the DG family. So be sure to take action and let your adventure begin!

1. Make a list of all the small local banks and credit unions in your local area.
2. Visit each website to learn a little more about each financinal institution
3. Have a notepad available for each call. Always note the date, the financial institution and who you speak to. Write down as much information as you can.
4. Make sure you sound friendly, polite and confident with every person you speak to.
5. Inquire who at their bank would handle or be in charge of their REO properties.
6. Once you get the name and phone number of the Asset Manager you are half way there.
7. The Asset Manager of the REOs may ask what you are looking for. You can reply that you and a group of investors are looking to acquire a few additional properties this month and you would like to know what they have available. Draft your question around your area of interest such as single family homes, Multi-family, commercial properties or vacant parcels of land.
8. The longer you speak to the Asset Manager, the more information that will become available.
9. If they have some REOs find out all the information and then state you will need to discuss with partners and contact them about next steps such as viewing the REOs. This wll give you time to run the numbers and locate the properties. The Asset Manager may even inform you about new REOs that are not even listed yet! How great is that?
10. End the conversation by thanking them and if they do not have any REOs inquire if you could check back with them in a few months

I hope this helps. I contacted 3 different banks this week and followed this exact guideline list. I found out some good information and now I have 3 additional REO Asset Managers that I can contact in the future. The REO Asset Manager holds the key to the treasure chest of REO gems! I hope you achieve much success with REOs and good luck with real estate investing! I hope this Guidemap to fidnign REO gems will let the real estate adventure begin! Believe and Achieve! Smiling - Joe

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John,

Thanks for the comments. You can connect on Linkedin by searching Joe Jurek in Chicago IL. Good luck with your real estate investing. Go make it a great day by making every day count! Believe and Achieve! Smiling - Joe

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Mike,

I am glad you liked the post. REOs can be amazing deals when you can get them at the right price. Go make it a great day by making every day count! Believe and Achieve! Smiling - Joe

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YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
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TWITTER - Follow me on Twitter at Joe Jurek CPA
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Enjoy

to my new friends

__________________

YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
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Joe

Thanks for sharing these great tips.

God bless you!!

__________________

TC
Miami Florida

"If you are not doing something that help the universe or God or your family, or YOU, is that something you should still be doing?"-Dean Graziosi

"Each day do one thing to get you closer to your dreams because if you do today what others are not willing to do, then tomorrow you can do those things that others are only dreaming about doing!"- Joe Jurek

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Hey Joe!

Thanks for brining up this old post of yours. There are some golden nuggets in here! Thank you for all you and Stacey do to help us along!
Thom

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I am a Professional Real Estate Investor! And I see a whole army of my countrymen, here in defiance of the J.O.B. You've come to fight as free men/women... and free men/women you are! What will you do for that freedom?? Will you fight?!! Lets fight for it together!!!!


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