Bulk REO's are foreclosed properties that banks own. Some of the homes may be currently listed with an Agent while others may not. Banks are not in the property management business. They are in the lending business and want these toxic assets off their books. Therefore, this has created a tremendous opportunity for investors who know how to play in this market. We know how to play!
A bulk package is also referred to as a tape. These tapes contain tens or hundreds (sometimes thousands) of REO properties. A tape is nothing more than an excel spreadsheet list of properties.
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