Wish me luck!!

[jsfletcher143]

There comes a time when you have to get past the nerves, and do something. Just submitted an offer on a prop. listed at 66900. I offered 59500. it needs about 10k in rehab, sold comps in the last 2 months, 4 homes sold on the same block for over 120k. Now the wait begins!!

I should mention it is an REO


John

[sybadon]

got my finger's crossed for you  

[pete226]

Sorry for my ignorance, but what does REO stand for???  Anyway, GOOD LUCK!!!!!!

[pete226]

forget it, i just thought about it for a second......Real Estate Owned???  after reading the rest of the post it makes sense....sorry Im a newbie lol.  

[jasonbshepard]

REO =  Real estate owned.

It's real estate owned by the bank, usually due to a foreclosure that didn't sell at auction. Sometimes banks will want to get rid of the property and will sell for less the as-is which is good for investors.

Good luck John,  maybe I will soon get past my fears..

Jason

[JaredfromIndiana]

So what happened?