Is the "Bulk REO Business" Real...? Tell us what you think!

I'm fortunate enough to have been partnered with a gentleman (for several years now) who was doing REO's back in the late 1980's when I was only 3-5 years old. Hence, we already had The "Direct Contacts" when this recent REO thing started, and from what I can see there are a lot of misconseptions out there....

First of all, If, and I repeat, if, you could get your hands on a $200,000,000.00 pool, the fees would most likely be 1% and not 3%, which is still plenty of money. However, some guy who was most likely doing SFR properties one at a time just 3-6 months ago, and has a yahoo.com email, isn't going to have that buyer or seller!

We work very hard to do these deals and we are very happy to close 1-3 deals a month for anywhere between $10 - $50MM total. That's the real situation; and that's a lot of money, even at 1-2%.

Furthermore.... People that have $200MM+ to spend or have a $200MM+ pool to sell aren't going to be on any type of forum trying to do so. Also, all of these $200MM, $500MM, and up into the $Billion dollar pools (maybe) aren't going to be handed out to people as if it were candy to a 5-year old on Halloween. Remember, $1-Billion = (1,000 x 1,000,000); not exactly chicken scratch!

If people would just use their common sense it's very easy to see why most are getting jerked around in this "REO GAME". That being said, I wish all the best at success in their endeavors, but I will give one last piece of advice.... If you're working on aquiring and closing that $200,000,000.00 pool, you'd better get a second job.