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Breelon Bryant
  • Rental Property Investor
  • Jackson, MS
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156
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REO Property: Low offers on long sitting houses

Breelon Bryant
  • Rental Property Investor
  • Jackson, MS
Posted Mar 26 2020, 15:46

I have found a property that is purchase price 73k

Market rent: $800

My offer: 65k

Cash flow $100+ at 12% COC return

3/2 1450 sqft

ready to move in (not turn-key) prior to purchase with no major  work needed to be done EXCEPT  future flooring due to cheap glue flooring in home. 

IT HAS BEEN SITTING FOR 302+ days on MLS!!!!!!!

Should I lower the offer due to the home being on MLS for so long? or stay at 65k?

Are LONG Sitting REO properties motivated to sell for a bank?

LENDERS, BANKERS, LONG TIME INVESTORS, REO agents, and others I need advice

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