Buying REO's ...

[Andrew Stromfeld]

Most of the foreclosures I've seen pretty much all need the same things:Roof, central AC, electrical panel etc., kitchen, bathrooms, windows, landscaping, etc. Also, most of the ones that don't get snatched up by first time home buyers have water damage/mold, termites, and illegal additions/repairs. To fix these issues would easily total $50k or more. Most of these properties are being listed with a price based on sold comps of the area it's in. So as a new flipper will the bank sell it if they are presented with a logical offer based on the true state of the subject property and also allowing for a profit?