Laura, the process is not "simple". It will take a huge commitment on your part. A simple phone call wont do it. There are literally thousands of agents looking to do the same as you. If loss mitigation reps and asset management companies were answering phone calls from all of these agents, nothing could ever be accomplished. They would have to hire hundreds of call center employees just to field calls from eager agents. My brokerage represents a few of these companies and it is very difficult for us to make personal contact at times. Most of our communication with them is via e-mail and only to communicate orders, offers and to resolve issues. Get together with a broker who is already in the REO market. An individual agent has little chance at capturing this market without support and participation by their broker. A better choice may be to advertise to buyers as many reo listing agents will not deal directly with buyers. Good luck in your quest!
Dr Cheng, use the link below for lists of available REO properties in Riverside County, California. At last count, I think there were somewhere around 1,000 of them. I will get the ones from San Bernardino County on there after I make a couple of phone calls.
I may be wrong but I read your question as an apples and oranges type question.
You mention corporate owned and then went on to ask about banks.
Corporate owned usually means a corporation other than a bank owns the property, This would a company that has relocated an employee and bought out the interest in the house to the employee could buy a house at the new location. It could also mean a real estate holding company that simply shelters ownership from the general public and a number of other reasons.
Bank owned properties are referred to as Real Estate Owned (REO) and that is what everyone else that has been answering up to now is referring to.
JD â€œDanâ€ Weisenburger, GRI
Vanguard Realty, Inc. GMAC Real Estate
Once you got all the listing, do not hesitate to post at Trulia to let me know, and I will give you a list of investors from CA, Taiwan, Hong Kong and China looking to invest in real estate in the US ...