Got $1,000,000?

Oh, why didn't I put together that investment group I've been thinking about? If I weren't so busy selling real estate, I'd sure be busy buying real estate.

I just got wind of a bank holding 3400 REOs for bulk sale at well below current market value. Minimum purchase is 60 homes. You need $1,000,000 in the bank to look at the inventory. If I had that I'd have paid cash for that 2009 ZR1 by now, and spent my change on REOs. Wow, you can buy 3-bdrm. houses here for much less than a Corvette. That's sad. Not for my investor clients, of course.

In case you haven't noticed, we are now down to a 3-4 week inventory of REOs. It's kind of eerie watching thousands of Realtors shaking their heads in unison, wondering why the banks aren't releasing REOs?

When are they going to make a real estate agent Bobblehead, anyway? I guess when we can all start shaking our heads up and down again, instead of side-to-side.

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