Scottsdale, Az 8/18/2009 - There are several way to buy it. Direct from banks - good luck with that one. Mulitiple listing service - super competitive, so prices get jacked up. Or trustee sale.
With trustee sales you have to pay cash within 24hours, but there is a better chance of getting wholesale prices and less competition.
With that said its not a slam dunk. I look at 4 or so properties a day - I do the work to make sure they have value.
How? I Map them, drive them, tax comp then, MLS comp them and make sure the margin is there once I determine condition and rehab costs.
Plus, since its all happening so fast you have to have a steel in your viens since they are all sold as is and if there are any problems - you will own them.
Managing Partner/Real Estate Broker Scottsdale, AZ Visit www.nxtgenerationrealestate.com to learn more about NXT. NXT Generation Real Estate - Traditional Sales & Marketing - REO/Bank Owned - Sh
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