How to Sell 10,000 REOs and More

Mike Carey from Tranzon Auction Properties has been involved in the sale of an estimated 10,000 distressed bank assets including REO and notes over his career. This week I interviewed Mike to have him tell us about working with banks.

We talk about:

  1. How workout and special assets officers make decisions.
  2. How to add value to the process so that you get repeat business from these types of sellers.
  3. How to know if you should bring a property to auction.
  4. How to make sure you get the best deal possible at an auction.
  5. And a whole bunch more…

Mike and I worked together for about 6 years and sold a lot of commercial, construction, and multifamily REO and foreclosures for banks as auctioneers and brokers.

We liked to say that we had 3 bites at the apple – before the auction, at the auction, and if necessary after the auction. No matter what we’d get the assets sold. When you bring that type of commitment and value  to a seller they’ll do deals with you agin and again and again.

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