OK, let me off this bus!

[Frank Adams]

Normally I wouldn't be interested in a "bus tour" but my wife was sick on Saturday and I didn't have anything else to do so I went. It was well organized and pretty well attended. The agents knew their stuff and they even had a couple of mortgage guys along for the ride.

I know that there aren't likely to be any "deals" by the time a place has become an REO, but I did some good networking. I think about 4 of us (out of about 50) were "experienced" investors.

The houses ran in price range from about $85K up to $1.1MM. In my comments I told them that they could easily have eliminated that one from the tour and concentrated more on the price range that was in most of the group's power curve.

IMO most of these were overpriced although there were two that I'm interested enough to put in my data base and follow up on. I figure that with time, and the big bunch that'll hit in Aug/Sep that these lenders might loosen up (regain their senses).

Anyone else gone on one of these? If so what was your impression.

all cash