Posted by Java(OH) on March 15, 2006 at 21:33:34:
No, I have not yet purchased Tony or Scott’s books. I have read DOW and MMwMHs. Thank you, again.
Bank owned bids w/o asking $? - Posted by Java(OH)
Posted by Java(OH) on March 10, 2006 at 16:49:58:
I have been talking to several banks, lenders and brokers and found two very cooperative companies that I would like to do business with, they are both very helpful and give some sound advice. However, when they sent over their REO list of MHs, there were not any prices on the homes. I called both places back and asked what the asking prices were for the several homes in my area were. Both told me that they don’t usually have asking prices, they just accept bids and then counter. Is this common with anyone else dealing in REOs and what type of numbers do you start with? Do you start extremely low and then work up, or do you think that they will not even counter if the offer is ridiculously low? I was thinking that I would estimated my buying price and then offer 1/2, sound like a plan? Any help would be appreciated.
Thanks,
Dan C.
Re: Bank owned bids w/o asking $? - Posted by Barry (GA)
Posted by Barry (GA) on March 15, 2006 at 15:36:15:
Do you have Tony and Scott’s material? They teach you how to work this backwards. You figure all of your expenses and what is left over determines how much you can pay. I would then bid below this amount and see what happens. Might be worth a try?
Good investing,
Barry
Re: Bank owned bids w/o asking $? - Posted by jeff
Posted by jeff on March 10, 2006 at 22:58:17:
i bought a foreclosed home from conseco a few years ago and it had no price with it either. i offered $200 and they accepted it the next day.
Re: Bank owned bids w/o asking $? - Posted by Nate-WI
Posted by Nate-WI on March 10, 2006 at 20:26:12:
That’s a new one to me. I have not seen a REO property NOT have a price listed. Stop wasting your time on this and move on. You are simply guessing in the dark and that could get you in trouble.
Nate-WI