i have finally aquired fincancial backing but can’t seem to find serious end buyers. also when i approach a reo agent with an offer, am i required to have earnest money up front or can that be worked into the deal towards the back end.
howard
Howard,
It’s great that you have financial backing, but keep in mind that every potential buyer isn’t serious. Some are window shopping and have no intention of doing anything right now because of one thing or another. Others may be sizing you up. If they find you to be in any way lacking, they may decide not to take the deal you’re offering. It may be that they don’t like the deal because it’s not within their budget or they’ve simply decided they don’t like the location or some other factor of which you’re not aware.
But don’t forget that you’re also selling yourself as well as a property. If you’re consistently having trouble selling yourself to people with whom you’re trying to work a good deal, reevaluate yourself and your skills. If you find something lacking, do something to correct the shortcoming. Read a book, talk to another investor you know who can help you to honestly assess your system to see if there’s something you could be doing better or differently, or seek the guidance of a real estate mentor who can help turn you around.
When you approach an REO agent with an offer you can increase the odds of getting your offer accepted – even if it’s a low ball offer – if you show them some money. An offer accompanied by demonstrated ability to quickly access funds will have a greater chance of being success. If an REO agent is staring at money they can have now if they’ll only accept your offer, it will go a long way in convincing them if they’re even halfway inclined to take your offer.
Good luck!
Peter Vekselman
Great advice Peter, that would be useful to all, no just Howard. 
Howard,
Welcome to the fun that is investing. Glad you had the ability to line up some backing, but yes some Funds are needed up front, from Earnest money, to marketing money, to just daily expenses.
Where in Chicago are you at? I am in Chicago as well.