All Forum Posts by: Jerry R.

Hi Priscilla,

I think you did great. There is nothing wrong with just holding on to it until the market turns around. After all it was only $100 and I bet the taxes are cheap too.

I bought 40 lots in the last year. There are quite a few people who invest in vacant land (land banking). I prefer to buy and flip, but others hold - it's a valid passive strategy.

Jeffrey, I am from Milwaukee and would not touch anything there. The problem is no one is building there anymore (homes). A lot in Milwaukee is a liability not an asset.

I would like to know also as I am just about to transfer some assets to Entrust.

I could not find anything positive or negative about them.

Thanks for posting this.

It's very good information to know

Thank you JCC for clarifying.

Thanks J Scott

If you don't have enough for the 1st flip how do you do the other 2 flips? Also, let's say you do have the 10%. How do you get the HML without the accepted offer which you can't get without the money - seems like a catch 22 that I am trying to get figured out.

Actually, even if I have it under contract the bank can still accept other offers and cancel mine. That's in the bank's addendum. Would they do it? Probably not, but it does not hurt to ask the listing agent to list it as pending?

The REO's in my area are listed way below market value to drive a lot of offers. So low in fact I couldn't find an agent to submit offers for full listing price, but that's a topic for another thread.

Only reason I care is so to keep other investors away from the property. If they see the offer is pending hopefully they will skip looking at it.

That's what I was afraid I was seeing - A whole lot of REO's that are basically sold or already have solid offers on them.

Now if I put an offer on an REO is there any way I can put in the contract that the agent must list it as pending in a certain number of days once the offer is accepted?

Anyone aware if there is a time limit that REO listing agents have to list a property as pending? Do they even have to list it as pending at all?