Creating opportunity in REO properties

Creating opportunity in REO properties:

While many are wondering what’s next with the Real Estate Market, REO properties are creating a vast array of opportunities for many different companies and business owners. Once a Bank forecloses on a property it needs to make it marketable and many times clean it out before listing the REO property. I’ve performed hundreds of interior BPOs for different companies such as Valuation Solutions and Clear Capital. I’ve come across all kinds of situations and possible property conditions that you might think of. From absolutely gorgeous too complete destruction. I remember one order that I did a while ago in West Orange New Jersey; the BPO order called for an exterior inspection of a single family Colonial home in pre-foreclosure. Once I got the address I was dumbfounded by what I found; all that was there was half of the home part of the home was demolished. Another was in Hawthorn NJ, this BPO order called for a full interior inspection of a 1600 Sqft Cape once I got there all I found was the studs. Anyways what’s the moral of the story there’s tremendous opportunities for contractors and cleanout companies to bid for that type of work. Major Banks that own these REO are not equipped nor have the staff to take on the task of cleaning these REO properties so asset manager and REO REALTORS® need to subcontract cleanout companies and contactors to take on the task. Talk about stimulating the economy! at See a FREE list of Major Banks holding REO properties and Asset Managers