Foreclosure and REO investing means buying property cheaply at one of the distress stages of the mortgage default process and then profiting by reselling or renting it.
Log in to followI mail land and small acreage, so this was a side experiment. I pulled the notices of default from two rural counties for the last 90 days, filtered to anything with more than 5 a…
Three deals in and I've hit a wall on the REO side. Every bank-owned listing that hits the MLS in my two target zips is going to highest and best within about 72 hours, and the wi…
Getting my license, still figuring out what I'll do with it. Two REO-specific things I can't get a straight answer on from anyone local. One, when a bank lists a repossessed house…
This is a small one and it is the least exciting deal I have ever done, which is why I am posting it. Land, no house, no tenants, no rehab crew. A regional bank ended up owning ab…
This was a bank-owned two bed plus a converted attic room in an inner-ring suburb, on the market 71 days with two price cuts. List was 164, I offered 141 with proof of funds and a…
I've been an LP in other people's deals for years, so this is me poking at the active side for the first time and finding out how little I know. My county posts a trustee sale lis…
Working out what my first purchase costs in a way that survives contact with a house I can't get into. I've been running 15 percent of ARV as a repair contingency on anything I ha…
Every time I look at buying, I end up stuck on the same question, and the pull toward it keeps coming even with a small crew to run on the service side. There are three doors into…
This is the question I would have kept to myself in a room full of people, so here it is. Everything I read about auctions says you buy as-is, sight unseen, no inspection. Fine. B…
I thought this was a hypothetical question until it landed in front of me. Bank-owned three bedroom, listed at a number I can make work vacant. The listing agent says the bank wil…
I've spent three months talking to people who make money around bank-owned property rather than owning it, and I want other eyes on whether the volume supports what I'm sketching.…
I've spent about four months comparing the three entry points and I keep going in circles, so let me put the actual constraint down. I have roughly $95k liquid and a hard money re…
I read the ATTOM first-quarter 2026 numbers this week. Filings 118,727, up 26 percent year over year. Starts 82,631, up 20. Bank repossessions 14,020, up 45. More than twelve stra…
I'm working toward the service side of this business and reading about REO in the meantime, and two things keep tripping me up. First, do I need a real estate license to buy a for…
I have been building a list for about seven months and said in here more than once that I was not buying. Technically still true. I sold a contract instead. The lead was a 1,400 s…
I have been pricing sourcing tools and the spread is wide. The national subscriptions with daily updated default and auction data run from about thirty dollars a month for somethi…
Bidding at a county trustee sale next month and I'm trying to stress test my title work before I put cash down. My understanding is that the foreclosing lien wipes junior liens, s…
County trustee sale Tuesday morning, single family, 1,450 sq ft, 1978 build, in a working suburb where the last four closed comps between 255k and 272k. I'm calling ARV 262k becau…
Something bothers me about how this strategy gets discussed. Filings are up, repossessions up sharply, everyone quotes the numbers. And yet the practical experience of anyone tryi…
I'm under contract on a bank-owned 3/2 at 179k, listed by a brokerage handling it for the servicer. Reading the preliminary title report twice, which is my habit, and I have two t…