All Forum Posts by: Kyle Mccaw

REO listing agents do not typically get paid as much as a traditional listing. They are also working many listings at one time and have to work within their client's directive. So basically they are over worked and under paid. Make the transaction as easy as possible for them and they will love you. Banks want to sale AS-IS WHER-IS WITH ALL DEFAULTS. Cash and hard money transactions are what they generally expect.

This needs to take into consideration location. In Texas the numbers are very different and do not support solar upgrades. 

Orange peel.

Or for houses that we only need to partially drywall we go with what is already there.

I'm in Texas. Other parts of the country my have a different taste.

@Shital Thakkar very expensive is a relative term. The values have gone up over the time. Generally they are less expensive than McKinney. Saginaw and Haslet fall into the area I mentioned. 

There is a lot more that goes into this decision. I would talk to a local mortgage broker that has a good understanding of investment properties. I bet he/she came come up with some great options. DO NOT go to your local national bank such as Bank of America or Chase. They will not understand your situation as well.

From my experience I would do the following.

1) Post the door with a letter asking to purchase the house. Send a letter to the owner of records mailing address. 

2) In Texas this is easy to find from the property tax info. 

3)My last option would be to ask a title company for help. They may find more info than you can.

check out Yellow Letters . com or Go Big Printing .com

I would avoid. Too much potential liability to future tenants. 

Approach the listing agent about it. See if you can get a reduction in the contract price. If you can and you close. Off the tenant $ to move so you can "fix up the unit." 

You can make money in any neighborhood. That area is a little rough. 

You will need to log in to the MLS specific for that area to run comps. I'm not sure if the boxes can cross over markets. But you can just buy one for each and label it.