REO no viewings properties

4 Replies

Hello, this is my first post. 
I've been looking around different sites and listings and find that these no viewings sold "as is" properties offer the best "discount" so to speak in terms of market value of similar properties. I was wondering if anyone here does these kind of deals and what the major risks are. (Note that many that I'm interested in are low HOA fee condos)

Thank you for your time.

I would offer based on assuming the worst and make sure that I checked out the condo association. you want to make sure they are financially healthy, don't have too many vacancies, and are not at the limits of any rental unit restrictions.. 

Thanks for the tip! As for assuming the worst, what exactly would you include into that? Personally i would assume replacing all flooring throughout the condo, replacing cabinets, repainting, and needing new appliances. Does that cover everything for a condo?

Condos can be total gut jobs that require 40+ in rehab. You really never know. Estimate high costs, and make sure the deal will still work. Anything else is bonus

I would recommend avoiding condos. Their fees, rental restrictions, etc. can be a pain so do your research

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