Help with buying a property from REO
Hello everyone,
I have some experience with Real estate. We got about 8 rentals, all of them buy and hold. For the first time, i want to venture into the REOs with the purpose of BRRR or selling it for a profit.
In my city, i saw a good deal on a REO property. It says it was tenant occupied. It could be either a tenant (leasee) or owner. Eitherway, we couldn't see it and bidding without seeing is a scary step for me. That deal is over, but it got me to ask this question. How difficult is the process of buying an REO with a tenant?
I want to use it for rental/selling it ultimately. I will not relocate. Any advice is appreciated.