Agent Relationships? The new House #33

So if you have been reading my blog, you realized we had to cancel the contract on the last House #33.  Earlier this week we put a new House #33 under contract.

Last week, I called an REO broker that I have bought a couple houses from for an update and he told me about a new listing he got.  It has a bunch of City Code Violations and the bank has agreed to fix them, to the tune of about $12,000.

We agreed that I would submit an offer and I would take it with the Code Violations.  And I got it for 17,000 less than their listed price :).

The follow up paid off, this one is going to stay in our rental pool and is a winner.  It was built in 1980 and is a 4/2, should have great cash-flow.  It does need substantial repairs though.

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3 Responses to “ Agent Relationships? The new House #33 ”

  1. BJ says:

    Congrats Steve. How did you meet your REO broker? I am working with a Realtor that is a personal friend at the time being, and he is/will be submitting my offers for me.

    I would like to eventually go right to the source though and deal direct with the listing agent.

  2. Steve says:

    I called on one of his properties and got a meeting with him. I think he has sold me 6 houses now.

  3. Jennifer says:

    Steve –

    Congrats on #33…you are really racking these houses up :)

    Do you think I would have better luck getting short sales or REOs if I go directly to the listing agent rather than through another agent?

    updating goals: I passed my third course exam this weekend!!! Mailing my paperwork to get my CA Real Estate test date this week…

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