HARRIS REAL ESTATE UNIVERSITY Students, the banks are now (finally) rolling out programs so that investors can buy REOs in bulk.
Bulk meaning…100s of homes…if not 1000s.
This is great news for you is you have great sums of money. ALL the bulk REO sales programs require massive purchases and only the most qualified need apply. The small Mom and Pop investors who are looking to purchase a few homes here and there….need not apply.
Here is how to apply to buy bulk REOs from JPMorgan:
Thank you for contacting the JPMorgan Chase Alternative Liquidation department regarding your interest in bulk purchases of REO properties for Chase, EMC andWaMu. Please note that REO inventory is low and we are predominately doing low value deals at this time. We select the properties for our bulk deals from our portfolio on a monthly basis and send bid tapes out for bid once or twice a month.
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If this is your interest please provide additional information as outlined below. Please be as specific as possible. This information will assist us in identifying potential opportunities. JPMorgan Chase executes bulk sales of REO Properties withPrincipals Only, not with agents/brokers.
Send your response to GM.Bulk.Purchases@Chase.com
1) Contact information
a. Contact Name: __________________________________________
b. Company Name: _________________________________________
c. Business/Cell Phone: _____________________________________
d. Email Address: __________________________________________Free, Easy, Qualified Leads - Without Cold-Calling or Spending $$$ to Buy Them! Register now for the ‘Secrets of the Millionaire Agent’ training event, and get “Think & Grow Rich: Real Estate Edition” and the “Real Estate Treasure Map” absolutely FREE. Learn the high-volume secrets of America’s top-producers! Notice: First 1,000 agents only, so hurry!. Watch Video and Download Free Books Now.
e. Years in business: _______________________________________
f. Number of principals: _____________________________________
g. Are you a broker (representing multiple clients/investors)? _____
2) What are the balance criteria (high end v. low end properties)?
3) Regional Interest (i.e. West Coast, East Coast, Northeast, Southeast, State)
4) Purchase Basis (i.e. every 10, 15, 30, 45 days)
5) Due Diligence Period (i.e. 3-5 days, 7 days, 10 days or more)
6) Additional information (any additional information that will further delineate your needs)
Please note that REO inventory is low and we are predominately doing low value bulk deals at this time, and occasionally aged deals. We will be monitoring our inventory and contact you as there are available properties in your area of interest. We may or may not have REO properties available for Bulk Sale within your area of interest at the current time. If we have properties available that meet your criteria, you can expect to hear back from us shortly.
JPMorgan Chase Bank | Alternative Liquidation | REO Bulk Sales | * firstname.lastname@example.org