Found an REO - now what?

[Matt Mozelak]

I found a REO on the mkt for 33 days now. Sold in Jan 2006 for 995,000 mortgage for 750,000 and bank asking 720,900. I am going to look at it tomorrow see what the condition is. I am not sure if my normal investor will go in to this one being we have never bougth an REO. So if i have to find outside money, do I put in an offer for the house using what approval ( I won't be approved for this loan) and then assign it to a goup of investors for a fee? What is the best way to do this. My credit isnt' the best and this house is kinda expensive, so I can forget getting approved for it with a conventional mortgage. Thanks,

-Matt