HUD & Reo Homes in Central Fla....a really good day

Real Estate Agent with Morris Williams Realty

Its the business that we choose, this Real Estate Game. Some days seem to be moving backwards...

Today we made progress. After putting signs back on all the properties yesterday, today the phone was ringing off the hook... I get better at passing the ones that need financing over to some local mtg brokers who have the job of grooming the good ones for future business. I wish them well, its really tough in this market to get a loan.

That leaves more time to spend with the ready to go buyers. Working with cash investors is always more productive. Little by little, we establish a trust that carries over to the next deal. Today we had multiple cash offers on properties, and tomorrow is the same according to the schedule.

Some of the current buyers are attempting to get partial financing, and its a bear with even 50% down. Whooda thought that buying a home at 70% of value and putting 50% down would have trouble getting a loan. Well today, I had two local investors offer to buy the homes and do owner financing with balloons...Shoot, I like balloons, make mine a giraffe.


A lead came in today off of Active, thats been a while since that happened...Local doctor/investor needs to sell a few rental buildings...will have the pro formas done tomorrow and send to investors looking for cash flowing properties..  Thanks Active Rain......


Comments (3)

Mike Norvell Sr
Morris Williams Realty - Leesburg, FL
Norvell Consulting Group

Just to show that a good day gets better, after I wrote this I received another proof of funds letter for a cash offer on another property.......... SMILE

Apr 20, 2010 11:04 PM
Robert L. Brown - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Mic

Seems like your having a great day. Wishing you all the best.

Apr 22, 2010 01:36 PM
JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate

Well at least things are moving my friend. I would like to see more people able to secure a loan though.

Apr 26, 2010 08:45 AM