Neill Sullivan and his investors are putting a lot of effort into convincing themselves and others of the do-good nature of their speculation scheme. “REO Homes, LLC respects West Oakland by investing in our neighborhoods.” Sullivan, the son of a Newport Beach real estate developer, was previously associated with Deocap Corporation, a mortgage brokerage with suspended or revoked licenses in many states. Thomas Steyer was an original funders who made it possible for Sullivan to purchase hundreds of buildings in West Oakland and evict foreclosed owners and their families. Steyer, the founder of Farallon Capital now runs a “Community Development Bank” in Oakland that is pledged “to provide economic justice.” The list of properties in the hands of Neil Sullivan’s LLCs is staggering. According to Rent Board data, Sullivan served over 357 eviction notices in five years.
Video about REO Homes