Well, if you read my post from early Friday, you will see I was shocked to find that the FDIC closed a bank on Thursday.
I honestly have not seen that happen since I started tracking the bank closings more than a year and a half ago.
Well, there might have been a couple, but it would only be caused by a Friday holiday, and then I don’t even remember if there was one.
So, I half expected there to be either a really big bank closing Friday with a few billion $ in assets, but there were 3 smaller banks that were closed.
Nevertheless, we have now totaled 30 bank closing on the year and it is very early folks.
At this rate, we will definitely beat last year’s total of 140 bank closings.
If you want to see the list, just search for “FDIC failed bank list”
You will likely see the link at the very top of the rankings on your favorite search engine.
They have the list since 2000 right there.
Keep an eye on these closings.
If I were you, I would look to see if any have occurred somewhat near your farm area where you buy and contact the acquiring bank.
Let them know you are interested in their REO properties.
Sometimes you will be able to get direct access before they turn them over to a realtor.
It just depends on how motivated the bank is to get rid of them.
Anyway, happy and profitable investing.
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It’s crazy too, around 30%.
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