I was told that most ROEs are going for market value, is this true? If not what areas can I still get a deal with 40% to 50% equity fairly easy? Also, if I find what in this range and I plug it in the “I buy houses” websites, would I get an offer? I would not be buying the property but letting the buyer know of it.
I’m sure it depends on the area you are in. In my area when an REO goes on the market at a 70% ARV it gets several offers and usually goes for more than the asking price. If it is at 100% ARV it sits until they finally decide to be realistic. One thing that you can try and look for is REO’s that are overpriced and have been sitting a while. Make offers on these and you might hit the timing right for the bank to decide to get rid of it.
40% - 50% equity? If you find a good source, I’d like to know. You don’t see those to often. If you found one, why would you give the lead to another investor? Get it under contract and then sell it.
If that’s the case, where and how can I get these with that equity and turn it over? I don’t have the money or credit, or support to aquire the money to buy it. If you know of a way and someone who is willing to teach and become a partner for a few of these (someone who maybe wanting to expand thier investment horizons, please let me know.