Making offers on mutiple REO's

I used to just look up the properties, look at pics, guestimate repairs and have my realtor offer on them blindly. Alot of our offers "got lost" or we were told not to bother because they had 721 other "full price offers." I now contact the listing agent and schedule showings for EVERY REO I can so I can get in there, in the neighborhood, and do a good estimate of repair costs. By going through the listing agent they tend to get the offers in because they get double commission so they could care less what I offer. It also builds rapport with the listing agent so that they will send deals my way before they even get listed!

Look at all of them until you get good at estimating repairs or know a neighborhood really well and even then try to look at them.

You can't just make random offer and then see if they are any good. And once an offer is accepted you can't then see if it's good. There's no adjusting an offer once they accept it,you will have to buy it or back out of the deal. If you do that to often then your offers will not even be presented.

You need to find some properties that might seem like a good deal. Then pull the comps,then run the numbers,then if it still looks good,then you need to check it out to see what the rehab or repair will cost. Then check your numbers again, if it look good make an offer.

There is know way around the due diligence.

Ya i figured you couldnt get around it but couldnt help to ask.

couldnt hurt*

that has experience with REOs; I've called a few listing agents, but they don't seem to return calls-my guess is that they most likely have several offers on their properties already...

Valerie