St. Louis had 8 different companies that purchased 10 or more foreclosures in the St Louis area during 2012, according to the “Bulk Foreclosure Buyer” report that was just released by RealtyTrac. At the top of the list was Hfr Capital Assets LLC, with 24 purchases. Greg Daney appears to be a principal in this company and is also the CEO of loanSum.com, a local hard money lender, so my guess is most of these “purchases” were actually the result of his company foreclosing on loans his company made that the borrowers defaulted on.
Second on the list, with 19 purchases, is FB Realty LLC which appears to be a similar situation. This company is, I believe, owned by Frontenac Bank and it’s purchases were the result of the bank foreclosing on loans gone bad. Tied for second, and perhaps the first actual investor buying foreclosures as an investment, is Lewis Mitchell Company, owned by my old friend Lewis Bernstein, that also purchased 19 foreclosures during the year.
St Louis Foreclosure bulk buyers
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