Where to find Commercial RE properties - REO - NOT Loopnet
Loopnet? Crexi? Any other sites that list bank owned, REO, distressed, FSBO?
[{"id": "iytoffm", "text": "Most banks have a listing of REO.", "replies": [{"id": "iyuzknf", "text": "Yep? You just google it. \n\nWells Fargo REO\nPNC REO \nEtc. \n\nCome on guys\u2026 do you not have access to google??", "replies": [{"id": "iyvr6ao", "text": "[Just being helpful](https://googlethatforyou.com?q=where%20to%20find%20reo%20properties)", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "iyu165h", "text": "I'm not sure if this answers your question....\n\nIf you are  also a realtor with access to the MLS, check to see if you have the MTT tax you can search by a bunch of options, including pre- foreclosure/lis pendens and simple foreclosure.  If you don't have access and are looking for NEFL, I will be happy to pull the report and email it over. \ud83d\ude0a\n\nYou can also see if a title company can pull it for you. There is also a way through each county, but off my head, I don't remember the exact way. But I know you can pull those reports as well as new businesses created for free (most counties, some charge) through your county clerk of courts.", "replies": [], "depth": 1}, {"id": "iyu7ij3", "text": "Talk to the banks directly.  Otherwise, talk to a broker and learn why their job exist.", "replies": [{"id": "iyuhudp", "text": "\ud83d\udc4d\ud83e\udd23", "replies": [], "depth": 2}], "depth": 1}, {"id": "iyv3zny", "text": "go get some kneepads", "replies": [], "depth": 1}, {"id": "iyvr57k", "text": "Read the bank's quarterly call reports by the FDIC. You can either do a bulk download or search a bank directly.", "replies": [], "depth": 1}, {"id": "iz56na5", "text": "Best to go direct and build out a trading or acquisition desk. Distressed Pro is a subscription that aggregates the quarterly FDIC call reports. \n\nThe meat is in your cold calling and human engineering skills to get past gatekeepers and to the treasurers, CFOs, COOs, Special Assets depts etc..whoever knows about and handles their funky assets. Trying to automate email outreach won't cut it unfortunately. Old fashion telephone skills and diligent followup touches win the day.\n\nAlso, Many banks don't respond well to someone pointing out that they have criticized assets on the books. Looking for a recent history of liquidations via recent loans sold helps to see if they are liquidating or just holding assets.\n\nIt's best to target non-performing loans as most REO gets pushed to brokers since post-foreclosure there's really not a lot of incentive to avoid the market sale process. \n\nHowever, it's about relationships..getting a decision maker or knowledgeable employee talking and willing to send notes or properties for review.", "replies": [], "depth": 1}]