We also floated the house as a pocket listing through a broker and had an offer of $625k within a few days.

So if I can now buy a property for 100k lower than I could 9 months ago, even if my payment is higher and I am just breaking even on the property right now, If I can lock in the price and I can float along breaking even for a year or two or even three until rates come back down, then I can just refinance and start cash flowing better.

Yazoo city Mississippi 25k.You get the drift it depends

but hey, don't use a realtor if thats what floats your boat.

However, cash flow is good and no problem floating those payments.Any creative ideas for some CoC returns with this line of credit?

Residential REO volume has gone down significantly because of the ROBO fiasco and doing workout loan mods in pre-foreclosure and short sales.There is a difference between a commercial OREO broker and a residential REO one.Residential many REO asset companies have just a few assets trickling in for the amount of agents that have applied.So these companies charge computer platform and system fees and mandatory training sessions and bilk the agents out of what little cash they have.The net 45 days is also not true in many cases.They are supposed to pay in 45 days but many times delay payment for 2 months or longer.This makes the banks or asset companies float interest free loans using and abusing the reo brokers/agents.Then too add insult to injury they take a 1 percent fee off the top with only a 2 percent payout afterwords.Sometimes the bank will start the listing price high even though the listing brokers opinion doesn't agree with them.Then they re-assign to another agent and take a mark down and you are still chasing the bank to pay you the costs incurred with the listing.What you don't have on the reo listing side is CONTROL.Some of the big REO companies HAVE TO sell hundreds of properties a year with volume or they actually LOSE MONEY.For this reason many of my friends have gone to the pre-foreclosure side which is what I work on the commercial side more.Since I work with the borrower the bank has to deal with me to close a transaction versus trying to get into a "good ole boy" network where a company might have a 50 year relationship with a bank already.You can't focus on what you can't control but just take advantage of the opportunities that present themselves and capitalize on them.

The assessment is supposed to represent the value of the property but it can often drift high or low.

I hadn't really thought about floating just straight payments, but why not ask?

My long term goals are in real estate, however, and I'm looking forward to learning from all the knowledge floating around here.

You also want to "lock the rate" and try to get one "free float down" if you can.The rate locks in the low rate of today.