If you’re an investor looking to purchase Fannie Mae REO properties, then their new First Look initiative will be of interest to you.
To provide owner occupants and public entities an advantage in purchasing Fannie Mae-owned foreclosed properties, the company has created the First Look initiative. With First Look, only offers from owner occupants and buyers using public funds are considered during the first 15 days a property is on the market. Offers from investors will be considered only after the first 15 days have passed.
Ready, Set, Wait 15 Days
So, this is that awkward Sunday after the super bowl when it finally sets in there’s more to Sunday than football from 10-8:30 eh? At least the weather is great out here in the Bay Area. In the upper Midwest, the temperatures are struggling just to get into the black.
We were thinking of putting together a “How to Buy an REO Property” workshop on a weekend day, where we would actually go out and tour and analyze a few active REO listings together after an introductory class & a catered lunch. If there’s interest, I think we could put the first one together by early-to-mid April.
In the meantime, here’s this week’s Active REO listings…
Based on your feedback from the Foreclosure/REO lists we’ve been providing, we are going to start offering free investment analysis of individual properties. Send an email to norman at myeastbayagent.com with the following information:
1. Purchase price
2. Down payment
3. Property address
4. & If it will be self managed
Using this info, I will produce a basic investment analysis with projected expenses and appreciation and email it back to you. Check out the attached pdf as an example.