I hope this works

General Real Estate Investing
1

like my dad used to say “s*@! or get off the pot” I finally did. It might not be the highest profit but it is a start. Short sale prop. that appraises for 160k bank was listing for 129k (offered less of course) getting a 100% n/o/o loan, also approved to take out 30k HELOC after I take possesion (no seasoning) piti less than $1000.00 in a rental area that gets $1200-$1400 for this size house. (ran a test ad in the paper and got blitzed with calls) so I would get 30k from the equity and a small cashflow from the rent. only obsticle left is for the bank to accept. I will find out tomorrow. In any event what a rush!!!

trwilliams

2

Congratulations….

          That is one thing you will never get over is the rush!

                        I even like this deal!!!!!!!!!!
3

thank you. I forgot to mention that the only thing this house needs to be rented in a new vanity in the bathroom. Going to hard to sleep tonight. this is my first offer. In realty even at the listed price it is still a good deal. I just thought might as well try lower. By the way REO would this deal still be good even if I had to pay the 129k?

thank you

trwilliams

4

As long as the appraisal and inspection came back… I would!