Posted by Rob FL on January 21, 2001 at 23:24:01:
You may want to post your questions on the main Newsgroup. This group is for real estate courses only.
I’m in Florida, but I think most of what you ask applies here as well. Shop around and make lots of offers. The key to investing in fixer-uppers is making a ton of offers. I end up making about 10 offers to get one accepted.
REO and their prices - Posted by Tammy Krause
Posted by Tammy Krause on January 21, 2001 at 10:36:16:
We after a lot of going back and forth my husband and i decided we wanted to invest in Reos and fixer upers and resell them. Ive looked at some homes and some of them show good promise the only problem is the price quoted by the bank is obsurd on one of them. its a 87,000 home not in the greatest of areas. personally i wouldnt give them more then 40,000 for the property. Any one who has bought an reo have you been able to get the bank to come down significantly on their asking price ? If so what were the numbers. I live in ohio so if anyother ohioans can give some advice i would appreiciate it.