bank offerings

Foreclosures, Short Sales, Tax Foreclosures
1

I’ve been approached by a bank to to buy some properties they have and want off their books and they will finance the whole portfolio, including any fix money. I own some property already but this is my first time buying back properties from the bank and have a chance to continue to do so from them.

Anyone know what percentage I should discount my first offer on the package? I’m friendly with these people so it’s not a make or break first offer. I know what the homes were last purchased for by the person for whom the bank is selling them.

Thanks in advance for any advice.

2

This sounds like a bulk list of properties that did not sell when mls listed.
These usually sell for pennies on the dollar. I would strongly advise that you do a LOT of due diligence before you make your first offer.

3

friendly with what people? people from the bank?

that’s awesome. good spot to be in.