I am in Cincinnati and have come across 2 deals on reo properties. The first is a deal for a house that needs some work (mostly cosmetic inside) and I am signing a purchase contract after thanksgiving for $20k. The house currently appraises about $70k after updates, possibly $74k. Only issue is they won’t do the conventional NMD or L/O. They want a cash only sale. I’m not in a position to buy it.
My second property is in a rural (yet suburban area) just east of Cincy. I can get into that home for a contract of about $48k (not yet signed still negotiating) and it’s current appraisal about $65-68k. Again, they want to do a cash deal preferably.
If you’re wondering how I got the appraisal $$'s, a buddy of mine is an Ohio appraiser and did a drive by appraisal for me on these on his way to other appraisals.
If you’re in a position to help me out, let me know. I also have my eye on a few other REO’s but having to wait till after thanksgiving to contact on them. Let me know iy you’re interested.