I’m trying to locate distressed buy here pay here (BHPH) loans in Arkansas. Can anyone share insights or point me towards resources for finding these loans? Any guidance would be appreciated.
Hey, I’ve looked into some similar questions before and from what I gather, finding distressed BHPH loans is a bit of a grey area. I haven’t found a single go-to place for this in Arkansas, so my guess is that you might need to dig into local investment or repossession networks. Sometimes local real estate groups or even bank foreclosure departments share info like this. It might also help to reach out to small BHPH dealerships directly and ask if they have any upcoming distressed loans on their books. Just a heads up though, sometimes these deals come through word-of-mouth, so networking at local real estate meet-ups might lead to something. Not sure if this is exactly what you’re after, but it’s what I’d try if I were in your shoes.
For direct access, you might want to consider building relationships with local agents who manage distressed assets. I’ve seen investors benefit from connecting with repossession services and even local auctioneers who sometimes get wind of a BHPH dealer shifting to offload accounts. It’s not as widely advertised, so it pays to remain in regular contact with professionals in the repos and asset recovery space. Some smaller title companies in Arkansas also have insights into non-performing loans and may even share leads if you have a track record of closing deals.