Flipping REO's..... - Posted by Lisa

Posted by Terry Dunlap on November 11, 1999 at 06:46:25:

I came across a Web site that lists REOs. It’s www.reonet.net You can try it out for seven days after which it costs $19.95/mo to subscribe. It’s not bad. However, having access to my area’s MLS provides the same info without the cost. It only takes longer to search for REOs in MLS that it does this web site.

Good luck!


Flipping REO’s… - Posted by Lisa

Posted by Lisa on November 09, 1999 at 17:51:19:


I recently recieved a list of Reo’s for the month of November. I am planning on starting my investing career with flipping properties. Most of the properties on this list are at least 30% below market value. Have any of you flipped Reo’s before?? Is it a good idea?


Re: Flipping REO’s… - Posted by SCook85

Posted by SCook85 on November 09, 1999 at 19:25:59:

I have flipped many REO properties before and will say it is a very good place to start. I am curious as to where you got your list. If you bought your list you may have a list of homes no longer available. My market is pretty hot for moving REO’s and you have to be quick to get them. You should be able to go to a realtor and get a list of all bank owned properties, sometimes they have to do a lot of homework to find them but they are out there.


Re: Flipping REO’s… - Posted by Karl

Posted by Karl on November 10, 1999 at 10:29:06:

Have you heard of “Federal Information Services”? They sell lists of forclosures and auctions. Saw them in the classifieds Sunday, for around $70 they sell their lists. Is this list likely outdated?


Re: Flipping REO’s… - Posted by SCook85

Posted by SCook85 on November 10, 1999 at 11:52:53:

I’ve never heard of the company and can’t speak whether or not they are good to deal with, but I would imagine that in the time it takes for them to get there publication printed, distributed, and into your hands the good deals are long gone. I get my REO’s every day through my realtor. I don’t have to wait for a publication in the mail. Hope this helps.