REO's

You will have to see what Elix says about it hes the one that knows that area.

I would like to know aswell...

I'm in Jersey. All the REO's here get listed with realtors and are usually not discounted all that deeply.

Max, lets talk. I'll make you a wealthy man.

PM me your info we'll talk tonight

We've bought, rehabed & sold a half dozen banked owned properties. All were
listed with RE; all we paid cash for; & all were sold for a profit ranging from about 22% to 51% return on our investment.(much better than CD's,stocks,
or bonds).
The cheapest was through REDC Auction at $ 22,000 plus a $ 2500 buyers premium. Any 5K houses I've seen have been burned out, totally destroyed, or
purchased in a "bundle" of 6 to 20 foreclosures at one time.
I agree with Elix, if they are descent for those prices, you'll make a killing in NYC.

I want to make sure that everything is in order and i'm doing it right. I found a reo in my neighborhood going for thirty-four thousand. It is in good shape from the pictures. I plan on going to see it soon. I'm planning on offering twenty-seven thousand for it. I want 100% financing and three months to rehab(which means to rent it out or sell it) and 500 back at closing, I also want to close in fifteen days. I was told by an realtor that I have to put a thousand down just for a home owners association. Is this true? Oh yeah I got my girlfriend preapproved for a fifty-thousand dollar loan at B of A. I believe I have everything in order. Is their anything I left out. Someone let me know please. Thank you Dg family and Dean.

Pone

The NYC prices I had were wrong. However I found an amazing amount of homes going for anywhere from $5000 to $15000(my price range right about now)in other states. I'm interested in areas like Scranton Pa, Buffalo/Niagra area NY, Pitts Pa, Cincinnati Ohio, Columbus Ohio and well you get the point. If anyone knows of some good areas to rent out please let me know. Elix, I will PM you in a little while. Actually, my 4 year old is sick right now. I'm taking care of him.

Thanks Keb. So Youngstown Ohio? I will definitely look into that. How is the rent over there? Your right, I will look for a team before anything since I'm in NY. I just wish NY wasn't so damn expensive. Thank you so much for the feedback.

Thanks,
Mike

Thanks Keb. So Youngstown Ohio? I will definitely look into that. How is the rent over there? Your right, I will look for a team before anything since I'm in NY. I just wish NY wasn't so damn expensive. Thank you so much for the feedback.

Thanks,
Mike

is that Hud fmr in that area?

Thanks for the info. That's a good a mount of money. I'm actually about to go on a foreclosure site to check out Youngstown. Thanks again.

Max,

Please oh please oh please,........don't eeeeeeeeeeeeeeeeeeeeeeeeever make a mistake like that again

I was about to book a 6 month trip to Fiji after you told me that

Lets talk tomorrow

Mike,

the fun has just begun!
You'll have to do a lot of researching, researching and more researching!

On the left side of the home page of this site there's a link "Real Estate Analysis System" under Student Resources. It's a great tool...

Once you get hooked here, you're never going back!

valerie