His firm, Odell Barnes REO, is a bulk-buyer of foreclosed homes in the United States.
[1] For decades, Barnes has been buying foreclosed homes in bulk from banks and other mortgage-lenders and selling them to a network of private investors and directly to homeowners.
Barnes and his investors sell the homes below current market value, typically with low down payments and higher-than-normal interest rates.
[2] In 2008, with the Financial Crisis in full swing, Odell was one of the few people still doing well in the real estate market.
He and his investors mark their homes for sale at prices below comparable rentals and apply higher-than-market interest rates.