Buying Foreclosures, REOs. Short Sales, FSBO, MLS and More

If you're interested purchasing in Ctrl Florida, we have many homes for sale, just respond with your criteria and I'll do some research for you.

I'm a R.E.agent and am looking forward to closing many deals with you in the near future!

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Single Family

3 bedrooms

2 full baths

Built in 1995

984 square feet

0.99 acres

14 Days on Site

Property Description:

3 bedroom/2 bath home nestled is a quiet area. Home needs work and TLC but has a lot of potential! **TRUE PAINT FOR PROFIT**

Additional Information:
Features: Attic, Shingle roof, Foreclosure, Central air conditioning, Central heat, Trees, Lot size is between 1/2 and 1 acre

Subdivision: NONE

What are you guys putting for contingencies on your initial offers? I want to make a few low ball offers on a couple houses but want to make sure I am able to get out of it if they accept and I do the walk thru and find bad things!!!

Contingent on inspection
Contingent on partners approval
Or something else?

I am a semi-new investor that has done some assignment deals, but not in a few years. I recently attended Dean's 3 day coarse and got fired up again to go out and make some deals happen. I found a property, a 3 family with a potential cash flow of 3k a mo. which was a short sale, listed at 90k (FMV=160k) and after following deans training to the letter, put in an offer to the realtor of 55k. Realtor said he has no problem putting in that offer to the bank, but now when he sends me the contract there is a no assignment clause in it, which he said is put in by the lender and can not be removed. My problem is with no cash or credit I don't know what my next move should be. Should I try to Bird dog it to another investor and only make peanuts after doing the work?

Quick question! I made a cash offer on an reo property that got accepted and now of course I need to sell it... Well my fiance wants to buy a property. She is approved for an FHA loan. So my thought was since I have this property locked up I can double close it to her for FMV and technically we can both profit from it!!

I talked to my realtor about this (and she is also an appraiser for chase bank) and she said FHA is not going to allow this. She said that as soon as the FHA appraiser pulls all the past sales and such they will see that the property is pending for the listing price and deny the loan!

Didn't know if anyone else has done a double close on an REO property to a person financing with an FHA!!

Thanks
Shaun

I'm wondering if there is any correlation between success in REI and personality. For example, after watching this week's weekly wisdom I noticed that all the student speakers seem to have exceptional speaking abilities. They're almost like professional speakers on stage. They not only know how to deliver their message, they also know how to properly structure their thoughts and words. They are not afraid of public speaking and their talent is professional quality....if I didn't know any better, I would have said they were actors or trained professional public speakers.

Has anyone else noticed their talent?

..looking for a place in adrian michigan.. ready to move in..

Foreclosures are declining, in fact they’re approaching levels not seen since before the housing meltdown. Foreclosure filings, including notices of default, scheduled auctions and bank repossessions fell 23% during the first quarter from a year earlier. It’s the lowest level since the second quarter of 2007.

We just finished rehab project # 67; it's a 2 bed/
1.5 bath/1 car with 1240 sq. ft. living under central heat/air conditioning. We bought from a MLS listing, it was on the market for 2 yrs; after several price drops it was lowered to 48,900. We offered 34,500 & they took it, after inspection I found the a/c was not working so we received an additional $500 credit at closing. I fixed it with 3 lbs. of R-22 Freon(about $25
my cost). We had a new roof put on, we installed new kitchen cabinets/counters; appliances; bathroom vanities; toilets; light/plumbing fixtures;new flooring; paint, inside & out; new carpet & some landscaping. Put about 10K into it total, will list it on "flat fee" for 63,500. The rehab took Jill & I 3 weeks to complete.

Is anyone out there looking to sale REO's in Bulk? If so please IM me or email me at [email protected]

Thanks

Greetings, How can one use or can one use a VA Loan to make a DEAL?