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Author Topic: Wish me luck!!  (Read 2638 times)

Offline jsfletcher143

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Wish me luck!!
« on: March 21, 2006, 08:31:09 pm »
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
« Last Edit: March 21, 2006, 08:33:41 pm by jsfletcher143 »

Offline sybadon

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Re:Wish me luck!!
« Reply #1 on: March 21, 2006, 08:34:34 pm »
got my finger's crossed for you   ;) ;)

Offline pete226

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Re:Wish me luck!!
« Reply #2 on: March 21, 2006, 08:40:40 pm »
Sorry for my ignorance, but what does REO stand for???  Anyway, GOOD LUCK!!!!!!

Offline pete226

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Re:Wish me luck!!
« Reply #3 on: March 21, 2006, 09:37:02 pm »
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.  

Offline jasonbshepard

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Re:Wish me luck!!
« Reply #4 on: March 21, 2006, 09:37:31 pm »
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
Jason Shepard

Offline JaredfromIndiana

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Re:Wish me luck!!
« Reply #5 on: March 21, 2006, 10:08:13 pm »
So what happened?  

 




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