I got a call from a would-be investor the other day. She had an address and insisted she needed to buy this property, which was bank-owned. The rub? It wasn’t listed on the Multiple Listing Service (MLS), but it had been previously. I took the address, looked up the title information, and made calls to all my inside contacts with that asset manager and bank — all of whom very politely asked me to tell this gal to take a flying leap.

This lady was nothing if not tenacious. She’d attended several get-rich real estate seminars, watched a bunch of infomercials touting buying bank-owned homes as the next great real estate investing scheme, and she would not take "no" for an answer.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top