Does Anyone know? - Posted by Louise

Posted by robertw on July 20, 2007 at 16:54:32:

Find a local realtor. I can help you find a reputable one, 281-779-7044.

Robert

Does Anyone know? - Posted by Louise

Posted by Louise on July 19, 2007 at 05:04:39:

Does Anyone know how to Deal with the banks in buying several houses at one time?
I have tried through the realtors & they say they "Banks"
do not do that. New York.

to borrow or to buy? - Posted by Kristine-CA

Posted by Kristine-CA on July 19, 2007 at 09:06:02:

You post asks about “dealing” with banks for several houses at one time.
Are you trying to borrow to buy the houses? Or are you trying to buy
several properties from a bank?

Re: Does Anyone know? - Posted by gerald(tx)

Posted by gerald(tx) on July 19, 2007 at 09:04:53:

I assume you are talking about REOs. A few years back, banks had their own REO departments and had a staff to negotiate sales directly with the public. In recent years, with all the foreclosures, most banks now farm their REOs out to realtors to dispose of them retail.

Their take is that the realtors can get a better price and the bank has less hassle, and comes out better even by paying the realtor’s commission.

However, the banks do sell directly to well-heeled investors. They usually package them up in blocks of ten, or five million dollars, or whatever their own criteria is.

Today, you have to have deep pockets to deal directly with most of the large banks. However, many small local banks stiil will deal directly with you.

gerald

Yes - Posted by Jimmy

Posted by Jimmy on July 19, 2007 at 06:01:42:

realtor is inexperienced.

you can transact separate loans for each house, and do so simultaneously. this route may allow you to get 30 year ams.

or you can do a blanket loan secured by the entire portfolio. business bankers do this kind of loan. I do it all the time. 15 yr am is the norm, however.

Re: to borrow or to buy? - Posted by Louise

Posted by Louise on July 19, 2007 at 11:37:05:

To buy several houses at one time,packages.
I have the money, just looking to buy the houses.

Re: to borrow or to buy? - Posted by Jeff

Posted by Jeff on July 19, 2007 at 13:04:51:

If you have the money why do you need a bank to lend it to you?

Re: to borrow or to buy? - Posted by Louise

Posted by Louise on July 19, 2007 at 13:05:41:

I don’t need the money-I’m looking for the houses.