Anybody heard of a company in California that has a bank of investors to purchase foreclosures??

Never heard of such a thing. Can you explain this a bit more?

Yep, Dr. Marshall Reddick (PhD, real estate) holds seminars all over California to teach people how to buy several types of investment property.

http://marshallreddickseminars.com/

I'm a Realtor member of his network and have been to California, met him, went to an investment club meeting, and sold some homes to his member.

He has a huge group of investors who buy lots of properties all over the US.

Reddick is good... I ran across him in Texas some time ago.

He is probably one of the larger, better known such coordinator but you can find very similar services provided in many areas, possibly in your local area.

The difficulty is in finding them.... they are not always "Open" to new investors and sometime only to certain type investors IE: what property types they have interested in and what their Exit Plans are.

I am closely associated with one that has 28 active investors and about 4 times that many fence setters. That is about as large of a group that the local area can support for the target properties we are interested in so we do not openly solicit new people.

See if you have a Real Estate Investment Club in your area... if so, someone will probably know of several potential contacts you can make depending on your goals, interest, knowledge and funding. Just be aware as I'm sure you are, many wantabee investors out and about just waiting to separate you from your money and often with no malice intended... they just don't know how to get the job done.