All Forum Posts by: Rod Wiggins

I'm looing to purchase a REO property for my personal residence. The listing agent is asking $259k for the property. The property needs repairs, but nothing too major. I found the deed from the courthouse sale, and it shows the house being sold for $50k. I want to offer $100k, but from talking to the listing agent, the bank wont even look at that offer. Listing agent said that the bank has rejected offers at listing price and higher because the buyer wanted them to make the repairs. (Dont believe that one). I want to officially make the offer, because the most they can tell me is 'no'. Should I move my offer up? Can I/Should I make an offer with the bank? How will financing play a part? (I am pre-approved for $200k)

Thanks John. I found that FAQ a little while after I posted the question here. Oh well, I'm sure there will be other opportunities later on.

I'm not 100% but I think Florida (Panama City) does online investing. I looked at that area a few months ago, and I remember them having a setup for online bids.

Ok, I have a question with a scenario.

I'm military and bought my home in 2006 with my VA loan. I moved from the home in 2009 to go overseas. I will be back this year, and probably buying next year before the tax credit runs out. When I buy again, (if possible) I will use my wife's VA loan. My question is... Although this isn't the "first" house we have bought, will we still qualify for the tax credit? BTW, we still own the house purchased in '06, but we rent it out.

Now might be the time to pounce, depending on exactly how much damage was done and the cost to fix it. You may be able to knock substantial money off the purchase price because of that.

....anyone?

Rich,

I'm curious to know how the next auction went compared to what you were prepared to pay?

Dan,

What is the pacer site supposed to be used for?

1)Knowledgeable in the aspects that I need help in. A mentor should be able to tell me whatto look out for, and what to expect next. Kinda like watching your child walk for the first time. You will let them fall a few times, but will also catch them before they hit their head on the coffee table.
2)Successful at what you're teaching/telling me about.
3)Someone that can be happy about my successes and take pleasure in knowing that they helped me out in that.

Guru's, I think they are doing their job and pushing their product. I cant be mad at them, nor myself if I buy what they're selling and I feel taken after I buy it. I should have researched a little better before I bought into their crap. I think the phrase is "a fool and his money are easily parted".

At $20k/month, I would still have lots of work to do and many more cash cows to acquire. My ultimate goal in this is to have my current annual salary become my tithe. I dont mean to go too 'church' on yall, but the bible tells me that God can do exceedingly, abundantly above all that I can ask or think.... I wanna see Him top that!!

How did things go on this deal? I havent began investing yet, but my thoughts when I read your post was to offer only about $40k. That way each brother can get a few hundred dollarsa, and it still leaves a lot of wiggle room for you to get it sold/make a nice profit.