Well I haven't been writing as much as I would like, but the fact is, is that I have been extremely busy working on putting deals together and giving presentations on "how to be a private lender". Here's the go: I've been getting into raising private money more and more. I want to get into the REO market and have no intention of using bank financing to do so. I have partnered with a very experienced investor and we are creating an LLP right now.
So - here we are - to bulk REO or not to Bulk REO? That is the question. Well - it depends.
There are those who say - forgetta 'bout it. Why? for a couple of reasons:
1. Trying to put the Bulk deals together with the people who say they have the funds is like chasing feathers in the wind. Those "big" deals don't seem to be happening. A lot of hype.
I think this has been true for a while now - however - it seems like I might be getting closer to these deals actually happening. I will be able to let you know for sure over the next month or two.
2. Way too much work to get bulk deals. Even if they can be "got" = there are too many houses, in too many areas, in too many states of repair, etc.
I think this can be true to. It just depends on how much work you are willing to take on. I for one - have taken a liking to putting the two parties together. Those who have money and those who have the deals.
My bottom line for my personal investing business is to raise the money so that we can buy the REO's "individuallyally" (via MLS, Agents, Auctions).
BUT - I like the idea of putting together those who have the money with those that have the deals!
