The ideal candidate would be someone looking to be part of a team and working for a growing real estate company.Here is a brief description of the type of agent we are looking for.

I invest in the Pittsburgh area (not REO's) and the best advice I could offer is to limit the geographical area to a workable distance.

Originally posted by "winwinman":now I need a POF letter to make a bid.From your description, it's a cash offer.

He was more than willing, which was a HUGE help to me.Here is a description of the house.- 3,1 - 986 sq ft - Built in 1940 - Rougher Side of Houston, but NOT a warzone, in fact this street is more of an elderly neighborhood, This house is close to MANY of Houston's attractions (downtown, reliant stadium, minute maid park, the Toyota center, Texas medical center, museum district, and about 4 Universities)After my due diligence we came up with the following numbers.- ARV = $82,500 (which was conservative, recent comps for smaller houses came back slightly higher)- Repairs needed = Around $10,000 for rental - (Needs central air, some rotten board on the outside, some doors/sheetrock repair, and painting)We wanted to try to start out with a $10,000 assignment fee to split between us and work our way down depending on what they would take as an offer.

I would be up for a new group that invests in the Midwest (particularly Nebraska) even if the members were spread out geographically.

I am not sure if this belongs in the "Bulk REO" forum or not.

I know that there is a single bank (a large one) that is listed as the current owner of quite a few properties in a very dense area. Many of these propert...

I am sure you have alot more wonderfully descriptive stories to tell.

My first question to you would be whether you put together this pro-forma yourself (based on actual numbers and experience) or if you just listened to the current owners description of the expenses.All that said, it may still be a great deal, just make sure you do your due diligence before pushing ahead...

I want to use the MLS to send letters of intent for properties that have a high number of DOM, are estates, or where the listing description includes that the seller is motivated.

We have turned people off from advertising on the radio (even when we could have easily made money off of them creating an ad) because of geographical issues.