Posted by Blane (MI) on March 01, 2001 at 15:29:12:
The repo dept.'s job is to unload these homes any way they can, to whomever they can. Sometimes they have a lot of leeway on what they’ll take, sometimes they don’t. We’re not competition, because (around me anyway) we’re not financing the same kinds of homes. Hardly anyone right now is touching older homes around here.
So I tell ‘em right up front what I do, whattaya got, he faxes me a list, I go a drivin’. As previously posted, in one case I said why don’t you just give the home to me, he said I need at least $100. Well, ok. You can help each other out and you’ll get a cheap home which can be resold for a nice yield. Good luck.