Wish me luck!!

There comes a time when you have to get past the nerves, and do something. Just submitted an offer on a prop. listed at 66900. I offered 59500. it needs about 10k in rehab, sold comps in the last 2 months, 4 homes sold on the same block for over 120k. Now the wait begins!!

I should mention it is an REO


got my finger’s crossed for you :wink: :wink:

Sorry for my ignorance, but what does REO stand for??? Anyway, GOOD LUCK!!!

forget it, i just thought about it for a second…Real Estate Owned??? after reading the rest of the post it makes sense…sorry Im a newbie lol.

REO = Real estate owned.

It’s real estate owned by the bank, usually due to a foreclosure that didn’t sell at auction. Sometimes banks will want to get rid of the property and will sell for less the as-is which is good for investors.

Good luck John, maybe I will soon get past my fears…


So what happened?