All Forum Posts by: Deborah Hill

What is the formula for percentage rate of ARV. I've heard the standard is 70%. But then I hear that rate may have to be adjusted. And please give example. Thanks

Thank you soooo much @Wendell De Guzman for the info.  I am definitely going to look in to this.  I have a few questions that I hope you don't mind answering.

What is the difference with putting in for an REO vs HUD?

How does HUD come up with there list price?

How do you come up with your price? 

Can you lose your EMD at any time during the transaction or can you put contingencies?

Thanks again!

@Jim Viens 

Thanks. I'm keeping positive with it. I keep hearing the good and bad of wholesaling off the MLS. Yesterday I saw someone on BP that said he does most of his deals off the MLS. I have to start somewhere. I tried direct mail and it just started getting expensive for a newbie like me. But I can't let that stop me.

@Curt Davis My plan is to get REOs under contract and wholesale them out to cash buyers I have lined up.  I hear good and bad about this approach but I'm going to give it a try and stick with it. I plan on looking at properties and possibly making offers on properties that have been on the market for a long period of time.

I was doing direct mail to absentee owners and it started getting expensive and with no results. I have access to MLS and want to use this route. Any thoughts?

Hi Detra,

Welcome to BP.  I just joined yesterday and it is definitely a great place to network and educate yourself.

Hello Everyone,

Since I have access to the MLS, I really want to look into wholesaling REOs. Can anyone share any and everything about it? I have pulled closed cash sales in the last 30 days and drove to properties to get a feel of the neighborhood and what the property looked like for the price paid.

My buyers list is starting to grow since joining BP.

I want to know what you look for in a property, dealing with the banks, how you come up with your offer, should I be watching certain properties, how do the banks come up with their listing price, etc. (so many more questions I have)

Any feedback will be greatly appreciated.

Thanks

@Jeff Greenberg I heard about this meeting too late.  How often do you have these meet ups?  I really want to attend.