Is there money to be made in BPO/REO properties?

**kingpin** · 09-26-2008, 09:04 PM

My friend who started in real estate just start selling REO and doing BPOS for the bank and he seems to be selling houses @ very cheap prices for the bank. He already made more money in 3 months selling REO properties than I have ever made in my life so far.

Is anyone else making money doing REO Properties or doing anything real estate?

**Blue_Pearl_Granite** · 09-27-2008, 05:49 AM

Originally Posted by kingpin

My friend who started in real estate just start selling REO and doing BPOS for the bank and he seems to be selling houses @ very cheap prices for the bank. He already made more money in 3 months selling REO properties than I have ever made in my life so far.

Is anyone else making money doing REO Properties or doing anything real estate?

They key to what you are saying is he has a connection with a bank that has them. I sold one foreclosure recently and the bank had already taken ownership. I know other realtors hunting down pre-foreclosures to try to help people sell before the foreclosure takes place and they are also doing well. There are many ways to get into this but be aware that when closing time comes there is not always money for all to be split up(short sales).

**kingpin** · 09-27-2008, 12:16 PM

Originally Posted by Blue_Pearl_Granite

They key to what you are saying is he has a connection with a bank that has them. I sold one foreclosure recently and the bank had already taken ownership. I know other realtors hunting down pre-foreclosures to try to help people sell before the foreclosure takes place and they are also doing well. There are many ways to get into this but be aware that when closing time comes there is not always money for all to be split up(short sales).

yeah he has connections with them.