Scott,The decision was likely complex given BoA business mix and some merge activities presently being worked on (MBNA for one).I think it is fair to assume that if BoA wants to buy in loans originated by another firm Countrywide will be close to the top of the list.

What you are wanting to do with it (your exit strategy) stipulates what formulas you need to use to determine what the house is worth to you and what your offer is.If you are planning on fixing up the property and reselling it on the retail market, then knowing what the After Repaired Value (ARV or what the house will sell for all fixed up) is and the estimated repairs are the two biggest factors in determining your offer.If you are renting, lease optioning, or carrying the note, knowing the fair market rent will be a huge factor in determining value.If you are wholesaling, knowing what investors will pay in that area for that type of house is essential to determine value.To figure an offer on a property, start at the end.

Rochester/Buffalo seems like an area of the US that has quite a bit of affordable selling prices, but still retaining a rent that is fairly high.

I believe it is important that we "share" and "communicate" the most accurate information as possible.

Hi Everyone:I am a fairly new investor - 3 months in Minneapolis/St.

This assumes you can find and then sell on those deals.You said you have a fair bit of experience with both wholesaling and with refurbishment projects.

(which is usually well under fair market value - correct?)

Sound's like you are fairly seasoned in the buying and managing of residential properties.

The first and the last can help almost anyone acquire a fair amount of wealth.

Is the Fair market value saying that it will appraise for that value?