WHEN IT RAINS....IT POURS

I just put an offer on an REO a few days ago, and had to counter their counter offer. I had not heard anything until and email today......here is the quote

"The asset manager submitted our counter for final approval. I have not heard for sure yet but it looks good. I will have a definite yes or no by Monday but like I said, it looks good and Donna said she is surprised.....;)"

Donna is the Broker that represents the Bank....She scoffed at my original offer of 105K because she knows the Bank, and she was right...They countered. Donna didn't believe that either of my offers would be accepted. The original price of 149K the bank wanted was lowered by ONLY 4K. They seemed so stiff, but I still had the attitude that I either get a GREAT DEAL or nothing.

I figured the ARV at a low price of $185K even though the comps say closer to 200K. The High comps are at 230K. So I kept the offer at 120K and told them Max and Last offer.

Under estimating the value makes me feel secure in my investment.

I realize that to accomplish the goal of 10 homes this year that i have to be putting in offers....I really didn't think this would be accepted after their initial counter.

Prior to reading this email of HOPE....the Seller of the Home I Already have in Escrow called me. I told him about the other properties that I am looking at, and he said...."why don't you buy my OTHER property...I'll sell it to you"....

I thought about it for about 2 seconds and said....send me the info, and let's talk about it.

The Advantage that I have working with THIS seller is he is BEYOND FLEXIBLE. He is the one that is carrying 40K for one year NO INTEREST OR PAYMENTS.....He already understands that I need to meet the Ratios of ARV in order to get the HARD MONEY that I need to make the purchase......This being said I am CERTAIN...that he will be more than happy to carry a LARGE amount of cash on this home also. So I have to think that this deal is IN THE BAG as well....

That would be 3 homes possibly in escrow at the same time.....OMG what have I done?....LOL.

Not only this.....I just spoke to my Second Broker that handles REO's and she gave me access to a home today that wasn't even on MLS yet....I got to see it just hours before it went on MLS, and will have the first offer presented to the bank on Monday.....The price is very reasonable for the area, and should have around $60 - 80K in equity ARV.

It actually appears to be Possible that I will have FOUR properties IN ESCROW at the same time!!!

Anyway.....WHEN IT RAINS IT POURS.......I just need to keep my head on straight and BELIEVE that it CAN BE DONE.....