Bank Owned Properties – “REO”

REO is the acronym for “real estate owned” – by a lender.  These are properties that have typically gone all the way through the foreclosure process, meaning that the title is usually clear (and it is insurable using title insurance), the homes are usually vacant, and frequently in very ugly condition.  These can offer amazing value for the aggressive investor – particularly those willing to put some sweat equity into fixing them up prior to sale or rental.   These can be risky though, as they are typically sold “as is” – you had better do your homework!

A huge amount of the inventory currently on the market in the San Fernando Valley are REO properties -  many of which are aggressively priced, even sometimes underpriced to attract multiple offers.  I am constantly on the look out for suitable properties for my investor clients.  If you’d like to keep abreast of this market, contact me and I can place you on a list so that you get direct MLS updates on these properties.  I can even show you what they go for in “flipped” condition.  Cost to you for the information:  nothing.