Portfolio Buyer1...
I have several investors interested in REO packages also. I am having trouble finding a source that can actually offer the package (they say they can, then string me along with excuses).
Have you run into this also? Do you have a reliable source?
Thanks!

I am a bulk REO specialist. I understand all of you all's concerns about being strung along, etc. It is very hard to find reliable sources - both on the buyer and seller sides.

One of the things that makes it so difficult is, there are a lot of documents up front, including NCNDs with every party involved. It is a very cutthroat world in this arena and you really need to be careful who you deal with.

If you have any questions at all, you can post or PM me. I don't know if all of you would want the whole process spelled out here so just let me know your questions. I am happy to help any way I can!

Thanks for the offer. I am sure many of us would love to hear more about your experiences. Feel free to post any information about bulk REO's!

Yes 123sisters, I have run into that problem. But you just have to weed out the flakes quickly or you'll lose the deal. If you're looking for sources, i have a few. Get in touch with me and we can see what we can do. I'm pretty blunt and up front, if we can make the package work...great, but if we can't i'll let you know from the start so we don't waste time.

Yes,

I'm interested because I have buyers that want big bundles. '
My contact info: Andrew Macia, andrew@andrewmacia.com, http://www.andrewmacia.com

Our company has bought several large non performing portfolios. We are currently trying to sell several large portfolios as well. I am located in Columbus, Ohio if you are interested in seeing of our Portfolios.

It's true with commodities that you do not have to have a a real estate liscense.These types of companies deal in 1031's,stocks,commodities,estate planning,reit's etc.

They put a commission in the deal for themselves,study the papars carefully and have the buyer sign and intial and date each page so that a different page cannot be inserted later halfway through the contract.

If anyone can do a block at 5 million in Colorado please email me snowmassrider@yahoo.com . Thanks!

If anyone can do a block at 5 million in Colorado let me know. snowmassrider@yahoo.com . Buyers have secured funds via hardmoney.

If anyone can do 10 million block in Austin TX contact me kgordon4@gmail.com

I can cater to all custom order Bulk REO packages if anyone is interested please contact me via email at integrityfirstgroup@gmail.com

-Chris

My company can provide you or your buyer with a source of bulk REO and Notes. We have worked very hard and done a lot of research to reach the contact that we have that is a banks representative or gate keeper to the banks. The purchase of REO’s and Notes is a very simple process. All you or your buyer needs is a soft LOI that states what you want, what type funds and how you will provide POF. Sign our NCND and a Fee Agreement. We then step back and let the seller and buyer do what they do…. NOTICE: I DO NOT WANT TO SEE YOUR POF. YOU WILL PROVIDE THAT DIRECTLY TO THE BANK’S ATTORNEY.

There is a minimum order of $10MM

Daniel Scales
Off: 866.213.7834 ext. 200
Cell: 916.275.8678
Efax: 916.313.8687

I have several buyers wanting bulk REO packages priced up to 60M. Please email me at:esalechick@gmail.com ONLY if you are DIRECT to seller/compiler and can really perform. We will require our forms to be filled out along with a list of recent transactions that you have performed. Thanks!

I am two steps away from a person on the Wall Street floor, which buys REO Tapes, and I am two steps away from one out of the five compilers in the US

Beware of Bogus Scams

Warning Signs of Potential Bogus Scams as Follows:

* Name dropping
* Buzzwords
* Excessive secrecy
* Over-reliance on authentication
* Excessive disclaimers
* Unwarranted appearance of professionalism
* Big player behind the scenes
* Yields are too high
* Lack of transactional basis
* A secondary market where these investments can be laid off quickly and profitably
* Flawed documentation

What to Look For

There are many terms that are commonly seen in documents presented by fraudsters in marketing fraudulent investment schemes. Fraudsters often mimic and misuse legitimate banking terms. Many of the following genuine terms are misused along with those that have no meaning in the real world. They are thrown together in documents that contain a mix of fact and fiction, often confusing to a first-time investor.

* Non-circumvention
* Non-disclosure
* Good, Clean, Clear, and of Non-Criminal Origin
* Blocked Funds Investment Program
* Prime Bank Trading Program
* Federal Reserve Approved
* Treasury Approved
* Roll Program
* Irrevocable Pay Orders
* Prime Bank Debentures, Notes, Guarantees, Letters of Credit
* Fresh-Cut Paper
* High-Yield Investment Program (HYIP)
* ICC 3034 or 3039 Letter of Credit
* Off Balance Sheet Program
* Prime Bank Debenture Trading
* Prime Bank Instruments, Notes, Guarantees, Trades, or Letters of Credit
* Prime European Bank Letters of Credit
* Prime World Bank Debentures or Financial Instruments
* Prime Insurance Guarantees
* High-Yield Debenture Trading, Financial Programs, Asset Management Programs
* High-Yield Investment Programs (HYIP)
* High-Yield Promissory Notes or Bank Notes
Guaranteed Bank Notes
* Intermediate Bank Notes
* Roll Programs or Bank Debenture Roll Programs
* ICC 500 or 600 Bank Debenture Instrument
IMF (International Monetary Fund) Stand-by Letters of Credit
IMF Backed Securities, Bill of Exchange, Bill of Equity, or Backed Bonds
Discounted U.S. Treasury Obligations, Renting or Leasing of Treasury Securities
Blocking of Assigned Treasury Securities
* "Limited Edition" or Defacto Treasury Securities
US Dollar Bonds, Federal Notes, Medium, or Mid-Term Notes or Bank Notes
Blocked Funds Letters or Investment Programs, Documentary Letters of Credit
Irrevocable Pay Orders, Collateral First Debentures, Money Center Bank
Fresh Cut Paper or Bank Debentures, Bank Paper
* Seasoned Bank Debentures
Private Placement Programs
* Private Trading Programs
International Certificate of Deposit (LCD)
* Irrevocable Bank Purchase Order (IBPO)
Irrevocable Corporate/Confirmed Purchase Order (ICPO)
Irrevocable Prime Bank Commitment
* Zero Coupon L/C

More Prime Bank Investment Fraud phrases to watch for:

* Secret trading program
* Banks or Federal Reserve will deny involvement in these programs
* Non-circumvent / non-disclosure Agreements
* Funds are "Good, Clean, Clear, and of Non-criminal Origin"
* Funds pooled together for minimum trade amounts of $10,000,000 or $100,000,000 (sometimes listed as "Ten [10] Million USD,"and the like)
* Interest rates guaranteed from 6% to 100% to 1000% each month
* Trades with only the top 10, 25, or 50 banks in the world, such as Barclays or Credit Suisse
* Program backed, approved, or sanctioned by the Federal Reserve Bank (FED or FRB), the International Monetary Fund (IMF), or the International Chamber of Commerce (ICC) or the Treasury Department
* "Trader," "Facilitator," or "Broker"
* Only 5 to 10 "traders" in the world have access to this program; Trader will conduct 40 trades each year.
* Percentage of the yield will go to charity, social programs, or humanitarian efforts
* U.S. Government Agencies will deny the existence of these programs because the Government does not want your money to leave the U.S.
* U.S. Government Agencies try to seize the funds for themselves
* "Due 1, 5 or 10 years and 1 day"
* "108" bank to bank certificate which guarantees the principle + 8% annual interest
* "Funds of non-criminal origin, are legally owned by or assigned for the participation in a specified High Yield Asset Management Program"
* Principal is guaranteed and/or secured by letters of credit "The funds will remain in a bank account that only you are signer on. These funds will be used as collateral."
* Offshore trust accounts / tax free interest
* Can obtain proceeds through Visa debit cards
* Advised to remove from legitimate pension/WA accounts and send funds to self directed pension companies who collateralize the funds with a note, and are then invested in Prime Bank Instruments
* Our "Facilitator" has access to the worlds top "trader"
* "Trader" "Trading Bank" "Exit Buyer"
* The way all banks or big banks make their money
* Trades are sometimes referred to as "Tranches"
* Only a select few are invited to participate in the trading program
* Originally established by the elite families such as the Rockefellers, Gettys, Rothschilds, and the Carnegies.
* Fractionalize or collateralize the funds
* Fractional banking laws
* Hypothecation with insurance companies ($1.2M needed for insurance company to "hypothecate" $l00M needed for the trade)
* Investment periods quoted on contracts would be "90 banking days," "one year and one day," or "five years and one day"
* Program developed to level out the yo-yo syndrome in the banking industry
* "The information contained in this document is for information purpose only and is not intended as a solicitation nor an offer to sell any form of securities"
* Invested funds are fully secured by a Bank Endorsed Guarantee
* "Cash" Wire Transfer
* C&F ASWP
* Comfort Letter
* "Conditional" S.W.I.F.T. Payment
* CUSIP Number
* Discounting L/Cs
* "Trades are specifically established at a term of 1 year and 1 day, so it does not have to appear on the bank's balance sheet"
* Foreign Bank Advice
* Irrevocable, Divisible, Assignable, Transferable, Fractionable, Revolving, Confirmed L/C Payable 100% at Sight
* Key-Tested Telex (KTT)
* Market to Buy or Sell L/Cs
* Proof of Funds
* Proof of Product
* Ready, Willing, and Able (R,W, & A)
* Soft Probe
* 2% Performance Bond
* Pre-advise issued by bank
* Bank responsible commitment of funds
* A claim that the "promoter" has a steady business relationship with a large international bank
* A refusal to give "full disclosure" of all involved
* The expression "mandated agent"
* Standby letter of credit (SLC)
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