OfflineI've just been given access to REO's for 25-50 cents on the dollar. The ones on the bottom end of the spectrum need some rehab. Inbetween are homes that are sec 8 approved and ready to move in, but have no tenants. Tenants will be found for a fee. Higher end of the spectrum are homes that are cash flow positive all ready with tenants in them.
How would you go about taking advantage of these properties with little or no cash?
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I would need more info before advice can be given
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
What else can I get for you to help me with this decision? Seems like the opportunity of a lifetime for me.
what are the prices of the homes
what are the comps
what is the FMV and ARV
how will you find tenants
will you buy and hold or assign or wholesale or what
how much to rehab
stats of houses i.e, #br, #ba, sq/ft etc
there is a lot of info. look before you leap and then you may also want to consider why all these homes are not already sold if they were such "a great deal"
just a few questions to ponder
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
These homes aren't being sold to the public. They are REO tapes that I've been given access to through a close friend of mine. The only catch was I had to bring cash to closing. I guess I'm just going to need to assign most of these properties. I'm assured that they are in great shape and depending on which group I buy from could all ready have tenants in them. If not I pay a fee before hand and a tenant will be placed in them.
well if thats the hook up you have, and you are not coming out of pocket (if I understood correctly
) with anf funds of your own at closing, I am guessing CASH meaning for closing cost?...then go for it and much success
Anita
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TWITTER - anitarny / FACEBOOK - anitarny
"FAILURE IS NOT AN OPTION"
I was listening to a conference call last week which was hosted by Old School Title Company.
www.oldschooltitle.com
Marc and Bob were both talking about all these people who say they have these tapes of REO's at great discounts. They said 99% of the time there are no houses. It is some kind of scheme to get money out of people.
Go to their web site and give either Marc or Bob a call and they will tell you all about these tapes of REO's. They have been in the investing and title company business for many years and have met and seem many crooks with all kinds of schemes.
Don't let them get any money out of you before checking them out.
"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"
"SUCCESS WALKS HAND IN HAND WITH FAILURE"
That's a good point sistreat. I don't think my friend would wrong me, but in reality whose to know. I'll check the comps on a few random properties and move on from there. I'll keep you guys updated on my progress.
I see you are not a student,It is all good!
I am typing in red at current moment,Go figure
what that means!In your post, I either thought
you found JESUS Or you have a contact! Then one
of the fate-ful, reminds of SCAMS!I believe it
was Sissy, She is so (OUT OF THE BOX) GOD BLESS
or Higher POWER,What ever you are in too!
Randy
2birds---1stone
"make your actions count"
FADE TO BLACK.
AMEN