Foreclosures a Steal!

Thanks for sharing the blog and info.

I am still trying to make it better. I certainly thank you for the feedback. Tammy

thanks for sharing Tammy,

enjoyed reading the articles!

Learning and progressing every day,

Remember that house in Florida that sold for $207,000 in 2007? That sales price is totally irrelevant in today's market. In 2007 it was at the peak of a very over inflated bubble! What are houses selling for today in that area is what is relevant. It is listed at $62,500 now. How much rehab/ remodeling is needed to bring it to current market value? Current market is most likely around $80,000.
A smart investor NEVER buys based on what the market did before or what he thinks the market will do (speculation). He buys based on what the property is worth today.
So yes, there are some great REO deals out there no question, but you must base the deal off current values. Your best deals are still going to come from dealing directly with motivated homeowners that have equity. No agent involved!
Tammy, that is a real nice website/blog! Now, how many offers did you submit today? At least 2 I hope. Glad to hear you are out "driving for dollars". That is a great way to get to know the area. If you see any rehabs going on be sure to stop in and meet the people. Contractors, investors etc. These guys will be REAL buyers. Get there cards and give them yours. Ask if you can walk through and see what they are doing. Ask them what the numbers are and how they acquired the place etc etc etc. You will notice that most of these guys that are actually doing this business don't blog or have websites. They are too busy working it!!

Good luck and keep at it!!

One other thing. I met several of my best buyers at the county public trustee auction. These guys have cash and will buy if you can bring them a good deal away from the competition of the auction. Simply exchange cards, ask them would they be interested at looking at a great deal the next time you have one. They won't say no!

Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC

both for your comments. Michael I agree about being out there and not having time to blog. I, however, feel that I am still learning and taking smaller steps to reach my investing goals. I am still wondering about the blogging, but for now while I am learning I think it helps me to coherently explain what is going on in the market. Still I agree that more time out there is needed. I hadn't thought to stop in on rehabs; thank you for that advice. Tammy

I agree with Tammy,what a good networking tactic stopping in on rehabs
and chatting with everyone

Thanx,
Denver

"Do,or do not.There is no 'try'"

------Yoda

Interesting reading.

Sandra