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ARV? is that After Repair Value

Okay- that helps. Does the bank/REO go into this sale with the expectation to recoup more of the owed money than it was expecting durng the "short sale" time? That is, can I be as aggressive with an offer as I would have been durng the pre-REO time?

Greetings-- I know a bank REO will list the asking price sometime this week. My first question is can I consider this REO to be a "short sale"

I know the first mortgage: 198,000
2003 purchase price: 150,800

I comp sold 04/2007 225,000

Obviously I wait for the list price. Then what steps do I take. Do I simply put in the offer with the REO agent?

hmmm... that's some good knowledge to digest...

Are you saying that you bid on the tax lien, if you win , they property owner must come to you and pay you the tax owed amount to get the lein released?

I don't think I got any leads. I had a realtor ask me if I wanted to contact her broker that would find properties for me that I colud flip. This was over on the Westside. Should I beware of the realtors "come on?"

I freelanced and denoted RE as real estate investor I believe the correct denotation is re. Ryan Webber (RW) if okay wit you is correct. Flipper 101 I see the realty of them probably defaulting agian. Paying the extra ontop of the mortgage was my thinking of how to set up a lease option. Sounds like this may be inncorrect logically and realistically. I'm catching on and don't want to go into anything sideways.
Thanks for the straight poop :wink:

I spent this morning sniffing around the n'hood and now am I glad I came back to read your post. I PM'ed you

Yes, Q2 was a brain fart--- simply, how do I set the monthly rent plus the extra consideration per month as part of the lease option payment? If the guy is being foreclosed on because he can't affort 1,800$, how low do I go for a monthly rent that he can handle and still get the extra lease option payments?

Hello- hope all is well. My understanding of a lease option is that the RE is tacking on extra month payments for the lease option tenants with the idea that after a set period of time (let's say 3 years) the tenants may exercise the option to buy the property at the set price 3 years ago. So, let's say the extra monthly payment was 300$. 36months later that's 10,800$. So, when the option is exercised, does the 10,800$ I've escrowed get returned to the lease option tenants.

Q2- If lease option tenants can't afford say-1800$ a month for the mortgage payment- thus defaulted and that's why an RE has swooped in--whats my "ahead of the game price" that is, my monthly what if the margin is only 100$ to me?? DOes this make sense?? I'm going to the gym to clear my head. :superman: