Bulk REO Investing: What I would like to Change about Bulk REO's

Published by: Philip J. Sherman, Millionaire in Training, MMMChallenge.com on 21st Jun 2010 | View all blogs by Philip J. Sherman, Millionaire in Training, MMMChallenge.com

I don't know about you but I don't like problems or things that get in my way.

Here are a few things that I desire to change about the whole Bulk REO process.

1) Get rid of the Daisy Chains. Every time I speak to someone about Investing in Bulk REO's they bring up Daisy Chains, especially if they've tried to work in this niche at all. For those of you that may not know, a Daisy Chain is when someone says they know someone that knows a buyer or knows someone else. Don't get me wrong. We all know people, but in the realm of investing in Bulk REO's only the serious ones that have direct access to cash need apply.

2) That brings me to the second thing that needs to change in Bulk REO's.

We need to devise a system that keeps the tire kickers and just plain curious people out of the qualification process. And finally.

3) It would really be better on everyone if the banks had a guaranteed way of not having to take back any properties as REO's.

I'm sure we can collectively think of a true win-win to accomplish this.

Talk about Pioneering, Baby!