In 1996, Security National Properties opened as a commercial real estate company that specializes in the acquisition, development, and management of office and retail properties. In 1998, SNP issued their first bond securitization, providing investors an opportunity to participate in pools of performing assets.
Today, the Company manages a diverse portfolio of residential and commercial assets as well as a select group of non-real estate loans. We anticipate continued growth as a result of our success in procuring new portfolios, effectively managing our assets, and strategically diversifying into related business activities.
At the time of this writing, they have REO property in every state in the U.S. The listing pages are very basic with few having actual pictures. After reviewing a handful of listings in different states we would recommend just contacting the broker and getting some concrete information.
HUD is a government entity that was created in 1937 to providing housing development for low to moderate income individual & families.
I extensively navigated through the various states. First thing we noticed was it was not the same website for each state even though a portion of the HUD listings are through one website. I tried to do all the major cities to see what was available and how well the REO search functioned.
Surprisingly it was very easy to use and fast. I was enamored to be honest, I found some pretty good deals (TBD) in my opinion with some properties looking pretty good and they were close to the city centers.
There is only residential listings to my knowledge. With that said, I did see some properties with nine bedrooms. This looks to be a good find and happy hunting.
Found these listings for Commercial REO property through HSBC. Not much selection when this review was written. A very basic listing with property type. map picture and broker contact information. Please forgive the briefness of this review being the lack of multi-state listings.
This is the Capmark Financial Group and partially owned by General Motors. On March 23rd 2006 a private equity consortium including KKR, Goldman Sachs Capital, and Five Mile Capital purchased $8.8 billion, or 78% of GMAC, GM’s commercial mortgage arm. The new entity, in which GMAC will own a 21% stake, will be known as Capmark Financial Group.
Their REO database search is very basic. Interesting, at the time of this writing we did not find in listings in the “West Coast” region. We did however find residential and commercial properties listed, even one on a golf course. Most of the listings are of high value that is shown in there 7 figure prices or a “contact broker” message.
The listings have a decent amount of information and with nice photos. They have even map linked them to find out the area they are located in.
Freddie Mac is the other U.S. government sponsored Enterprise or GSE. These GSE’s mission is too make funding available for first time home buyers. The offer common stock and bonds to investors that pay out income based on the interest payments homeowners make.
Freddie Mac has a fully featured property search with listings in almost all states. All the listings are residential single family units. Some of the REO listings have pictures. There is minimal information about each piece of real estate with a local broker that handles that areas. One nice feature was the Yahoo! Maps link. We used Google Maps to look at some listings in San Diego that had no picture, with the Street View option, we actually could see some of the properties that were picture-less.