What are some ways for a new agent to get REOs?

Asked by Jacqueline Casillas, Porterville, CA Wed Aug 10, 2011

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4
Steven Murray, Agent, Visalia, CA
Wed Aug 10, 2011
Brokers with the contacts and experience will get most of them. Besides it takes a lot of cash or float to secure REO's. You must be able to turn on utilities for many properties. Maybe 30 to 50 at one time. You ready for that as a new agent?
1 vote
John Arendsen, Agent, Leucadia, CA
Thu Aug 11, 2011
First thing to do is not get intimidated or discouraged. Lot's of sharks in the water that would love to devour, digest and silence you. Keep moving the ball down the field. You're in the right venue.
0 votes
James Ybarra, Agent, Porterville, CA
Thu Aug 11, 2011
Jacqueline, the answer you received are not 100% accurate. Shoot me an email and I'll point you in the right direction. Turning on utilities does not cost much. And only a small percentage wil ask you to pay for repairs and maintenance up front.
0 votes
Jacqueline C…, Agent, Porterville, CA
Wed Aug 10, 2011
Not really, but I want need to know what it takes to be an REO agent so that I can best prepare myself. In one article I read it recommended $10,000 is needed for maintenance and utilities. In Tulare County what would you say the average and REO agent spends on the utilities and maintenance?
0 votes
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