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Updated about 16 years ago on . Most recent reply

Joe Finnegan's profile image
Joe Finnegan's profile image
Joe Finnegan
  • from Washington D.C.
  • Member since Mar 5, 2009
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Joe Finnegan's profile image
Joe Finnegan's profile image
Joe Finnegan
  • from Washington D.C.
  • Member since Mar 5, 2009
Connect
Joe Finnegan
  • Washington D.C.
0
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20
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Foreclosures

Offering strategy

Joe Finnegan
  • Washington D.C.
Posted

I'm shopping REO's and wondering about offer strategy. I've seen posts here that suggest that REO's can be had for 50% of asking price. Another post implied that you might be "black listed" if you routinely made extremely low offers to banks.

I'm going to look at a few REO's tomorrow (several on the market for well over 100 days). I understand the 50% rule for a rental, and I can factor in rehab costs. How do I formulate my offer?

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