Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 10 years ago, 05/15/2014

User Stats

18
Posts
2
Votes
Chad Skiles
  • Investor
  • Wichita, KS
2
Votes |
18
Posts

First Deal on a Fannie Mae REO

Chad Skiles
  • Investor
  • Wichita, KS
Posted

I am about to make my first offer on a Fannie Mae Home Path home. It's going to be a live-in-flip. It's listed for 70k. ARV is 110-115k. My MPP is 60k, but I really want to get it for ~50k. How can I get the best price? Should I start by offering 40k. How long does this process usually take and what can I expect?

For all practical purposes, I am a cash buyer. I should have cash in my account for proof of funds by Friday and the "no investor" period ends after Tuesday.

Loading replies...