3/4/2008
Well, things are looking up today after a pretty crappy day yesterday.
I just got off the phone with the listing agent of one of the REOs that I put an offer on last week. The bank just dropped their price another 17k. Right now, we are still several thousand apart, but I think I can get them down to my price. I just called one of the buyers I picked up by going to the auction last week (I finally went), and if I can get it at my price ($54,000), he will take it for $63,000. Sweet.
Looks like it's gonna be a good month!!
The hard work is finally starting to pay off, I think...
Tuesday, March 4, 2008
REO #4?
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3 comments:
Awesome Steph! You're doing great! Today I was going to get a bunch of REO listings, and I actually did look at a bunch of them. But then I got distracted by some urgent CAD work that is turning into an all day project. Good money, but its always taking me away from RE. Hopefully tonight I can get some uninterrupted MLS love.
That is great. Out of curiousity, how far apart are you and the bank?
They dropped it 17K. That would be close to 20%, right? That seems like a huge drop.
I'd like to pick your REOness sometime. (Does that just sound WRONG!)
Way to go Steph.
Hey Jason,
We are still 12k apart. The bank came down 14k, not 17k. I can't subtract. :)
I actually bought another property from this agent, and have been calling her every once in awhile to see if she is getting anything good in, or if a bank is about to drop the price on something. She called and told me the bank wants to dump this place, and thought that I might be able to get it in the low 50's.
It was just reduced in the mls, so there will prob be a ton of offers on it by tomorrow morning.
There's a lot of competition from other wholesalers, especially when there is a big price reduction.
I'm always down for a talk about rei. Just let me know.
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