Usually they will just bid that number and not join in any bidding war (most never got another bid anyway).

Karen, my area of Ojai & Sta Barbara is the same with the bidding wars on reos----sometimes over arv and other times a skiiny margin of 20-30k.I am looking into some other areas but won't give up on this one; there could be a needle someone didnt find.

The area, while nowhere near a war zone, is a mixed area and has had some issues with crime recently.

DaveIf you sort through the older discussions, you will find numerous threads looking for that ever elusive "reliable broker".

Particularly in the California and Arizona real estate markets, where bidding wars for investment properties are the norm, real estate investors can’t rely on banks to fund new purchases.

That would be a small industry site.15k for a light industrial lot seems not hard to come by unless its in a war zone.

My guess is it continues over the next 20 years and will end in world war in our lifetimes.

I know I shouldn't have signed, but I assumed everything was fine because I've bought numerous reo's with no problems?

I felt terrible for this guy, but he blamed no one but himself for the mess he was in.I have one real estate investor on my list that has over 200 SFH plus numerous multi-million dollar commercial buldings.

If class D in a war zone then you are looking at cash flow versus headache required to manage it or have it managed.If D class building with age only in a nice area then redevelopment is coming sooner rather than later.Until that time whether the buyer is paying cash or the type of debt service they can land will make a difference in what they can pay.Redevelopment in a nice area is great but it has to perform until you get bought out.