You want to buy an REO (Real estate owned) or too the wise “A Shit Kicker”, do ya?
Well let me tell you a story…all true and it just happened.
You come in all cocky cause it’s a Buyer’s Market (HA!) and say “I want to buy a deal”
Me; “Ok“…(I often have these kinda deep thoughts)
You; What do we need to do?
Me; “Is it investment property or personal residence?”
You; “Personal….but I want to make money when I sell”
Me; “don’t you read my blog?”
You; “you blog?”
Me; “That hurts“
Me; “No really that was uncalled for”
Me; “Still don’t get it”
You; ” I think I need a new Realtor”
Me; “Sounds like a plan”
Ok, now where was I…….oh yeah the story.
REO comes up on Navarre (Gables) listed at 257.0
It’s a 2/2 with a small 1/1 cottage and garage.
Has all the appliances and a neat upstairs office in front facade.
In short, super cute place.
Soon as I see it I say “let the fun begin….we are going to party like it’s 2005”
I write up a couple of offers and tell my folks “Don’t get to excited, we don’t stand a chance”
Sure enough; 30, I say THIRTY, as in TRENTA Offers later I was informed that the Bank took another offer……….No Shit!
Has not closed yet but my guess is that it went well over 400k; which is what it was worth in the open market…..so much for that REO deal.
PS; found out a little while ago that it’s up to 33……….