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Updated over 5 years ago on . Most recent reply

Rachan M.'s profile image
Rachan M.'s profile image
Rachan M.
  • Rental Property Investor
  • from Washington, DC
  • Member since Feb 24, 2017
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Rachan M.'s profile image
Rachan M.'s profile image
Rachan M.
  • Rental Property Investor
  • from Washington, DC
  • Member since Feb 24, 2017
Connect
Rachan M.
  • Rental Property Investor
  • Washington, DC
12
Votes |
73
Posts
Foreclosures

Bid strategy for REOs

Rachan M.
  • Rental Property Investor
  • Washington, DC
Posted

Hi all,

I am new to REOs. I read up some, did some digging and found a few REO properties for sale. From what I'm putting together, once the banks acquires the property they take 6-7 months to clean it out and put it up for sale at market value regardless of property condition. Then reality kicks in and they gradually lower the price little by little.

Does that sound accurate? Does anyone have a good bud strategy for REOs?

Thanks so much!

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