REOs are tough in a lot of ways but they almost always sell eventually so there is a payday at the end of the tunnel.

I would imagine that the Boston area, like most major metro areas, will be a tough place to find properties that cash flow.

Theresa and I have always wanted to live in a tropical climate and this island is a very special place.

hmmm.....a fire damaged home can be a very tough sell.

*Also the contracts that i have also came with "Special clauses" that i can add in in writing if i need to.

I decided to look in some special areas just outside their radar, and after 6 tries I finally caught one.I know I have to have positive cash flow, but I think this is a unique opportunity.

but to add, i prefer a quit claim deed when using land trust over warranty deed, special warranty deed.

It will be re-assigned to another broker/agent on their list.Listing residential REO ship sailed long ago.Many of my broker friends have stopped listing for banks and work on the buy side more as they pick up a bonus.On the REO side you get hit with BS certifications from asset companies wanting hundreds of dollars a year to be a MEMBER and POSSIBLY land a listing.When you do it's a POC (piece of crap) and you have to outlay a money with rekey and trashout,cash for keys etc. in some cases and wait for the money to be paid back to you.If you have a buyer for the property try to deal with FNMA.If you are just after a listing you need to go with a big reo brokerage already established and be a buyers broker.As local and regional banks have told me they get calls almost everyday from agents wanting to list their REO's.I am more valuable as I focus on the commercial side so they don't get as many of those specialized types.If you are the broker you can go to the local banks and offer to do it cheaper for volume and land business that way.Thanks

Youll have your whole list and be done with it.Handyman Special!

Or low cost just means up front costs vs. back end costs (rate/terms).Borrowing 100% LTV is going to be tough/expensive unless you have close to perfect credit.Let us know if you find anyone.John Corey