We want to make a cash offer, should we contact the bank directly?

That's a perfectly reasonable strategy...Imagine this hypothetical scenario, with hypothetical but completely reasonable numbers where I live (suburbs of Atlanta):You find a bank owned property in typical area listed for sale at around $82,000.

So it is just a return to a saner banking climate.

You may want to speak to local banks where you are located.

You could probably pick some of them up at some good prices.I just read about a guy in my state that is getting hammered with tax evasion, trying to move the properties around between multiple entities to keep the IRS and the banks from getting at them.

This has always seemed like the safe way to do it but is it the smart way.Should I be using more bank money instead of my own by putting less down of my cash?

Hello I was listening to Robert Kiyosaki and he was talking about holding on to property for cash flow and if the property value increases he would simply go to the bank an refinance.

Their concern is, if we take a property back, we have to sell it low enough to compete with everybody else's REO.I feel like we are in an environment where banks are actually self-destructing by driving property values down (dumping their stock).They get into a vicious cycle of lowering property values because they are forced to keep lowering REO prices to move them.

The bank was so excited to see an offer come in that they countered back at $105,000.

Hello,I am new to the REO market, I am wanting to start selling Bank properties but am stuck as I do not know where to start or who is best bank to work with.