Posted by Tim Pannabecker on October 12, 1998 at 18:46:57:
Tom, excellent points. In addition, realtors (especially the agents specializing in REO’s) can bring you many deals. Remember, houses needing much work are not well suited for the retail marketplace. These properties also make it difficult, for agents, to show to most buyers. Most agents know that this type of property is an investor property. And many agents have a list of investors to sell these properties to. Since you don’t pay the commission, try to get on their list. Remember, many good deals that agents get never make it into the MLS books.