It wll appraise for 230K in its condition and with repairs would sell easily for 260K.

The advantage is that you're still so young that if you get started right now, then by the time you're 30 you'll easily be retired.

and find out what the expense are...these are information that could be found easily...just subtract the income from expense and you will see your numbers...good lucksunsmicro

The last REO we bought had 12 other offers on it.The banks also are interested in moving the property off their books as quickly, easily, and cheaply as possible.

Failing to understand history and how it applies to the current market is a mistake that can easily cause your business to fail.

The truth of the matter is you can easily make or lose money investing in your own backyard as you can across city/county/state lines...What I will concede is what you are doing locally will not be an effective springboard for investing outside of your marketplace---the same things that you are successful at in your local business will need to be outsourced when you expand your geography.

If there are more REOs than can be sold easily expect low prices.

You can easily emulate this strategy.

Alright I'm a new investor,Ive been calling people left and right filtering out non motivated sellers.Anyways I'm not a greedy person,so I'm willing to give the owner 60% of apperication and I keep 40%.I have two people on my list to call them up if their willing to do a L/O.The other two one I gotta call up in a couple of days to see if their still interested in the deal.Another one I'm gonna speak with him,tommarow to discuss more of the matter.I need a L/O contract along with splitting apperication.

If you know how to use Microsoft Word then you can figure it out pretty easily.