Does anyone have ideas on how to find REO MHPs? I’ve tried Auction.com (as suggested on MHU podcast) but found no way to select MHPs. I called auction.com and they told me there is no way to select them.
Any ideas? Thanks in advance.
It’ll take a lot of time to gather the info and figure out who to speak with, but call local banks in markets you want to purchase in. Speak to the loan asset manager or the REO team and see if they have any deals they want / need to sell.
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@JD In your experience who within the bank or: which department delt with this.
You need to figure out who the loan asset managers are, or if there is a ‘work out’ department. Every bank / lender does it a little different. There is no cookie cutter answer.
I’ve not tried this, but it would be an interesting experiment. Maybe there is a way to direct mail banks’ REO departments? It may not be super fruitful since the default rate on parks is relatively low, but it does happen, and you could be just the easy solution they’re looking for at that moment.