OfflineSo I found 2 REOs last week on the net. I realized the huge price reductions on both.
Home 1 Arv $350k Reduction price $222k called to go look at the home. No response. CALLED back today. The home was sold about a week ago. I can bet for less.
Home 2 Arv $315k Reduction price was $140k got dropped 20k today. So now its 120k guys and gals. Have an appt to see the home tomorow. The agent said it needs work and it has some foundation problems. Might bring a contractor with me to look at it and give and get estimate of repairs. I called a guy i know just now and told him the numbers. He said he can maybe do $150k for it. But I think I can get it lower. So I will look at it and make an offer for $90k.They will counter thator reject that. I will offer more. I would like to get it at 100k at most 110k I will see what happens.
I got my mind made up.....
www.Kingjussinvestors.com
www.jussinvestors.com (buyers site)
Congrats Kingjuss! Sounds like you're on your way to finding some great deals. There are plenty of them out there that's for sure.
Chris
"Faith is the eternal elixir which gives life, power, and action to the impulse of thought.
"Faith is the starting point of all accumulation of riches!"
- Napoleon Hill, Think and Grow Rich
Sounds like a winner to me.
Peace,Love and $$$
XO
Angie
So how did it turn out? I hope the foundation problem wasn't too major!!
Any update on this deal?
- Tom
Kingjuss,
any updates on the house?
Valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...
Just keep in mind that you can not assign an REO, will need to double close. Use a company like Coastal Funding to fund the deal. Good luck!
... Verses: 35 "but those who hope in the Lord will renew their strength. They will soar on wings like eagles; They will run and not grow weary, They will walk and not be faint." Isaiah 40:31 ...