Posted by Wayne-NC on August 02, 2008 at 15:41:25:
You can read that anyway you want to. It’s the possible consequences that I am aware of. But then again, maybe not.
Talk about Luck… - Posted by Doug E
Posted by Doug E on August 01, 2008 at 21:35:59:
I went into contract on a 3/2/2 with a screened in pool. Bank owned. As Is contract and all the bank addendums. 3 weeks later my realtor calls me to ask if I was doing work to the house prior to the closing. I said No why? He said someone just called the office to install a dish washer. When he went over there to see what was going on the entire house was renovated. New paint through out, new ceiling fans and light fixtures, new carpet in all the rooms, new linoleum in the baths, kitchen and laundry room, and new appliances. Pool shocked and crystal clear water, lanscaping cleaned up.All new locks on the doors.
The bank paid some company to renovate it to sell it, I guess it was ordered before I made my offer and they didnt know I had put a contract on it as is in the condition it was in, saved me about 8-10k house is worth 165k, purchase price 100k. When the realtor spoke with the company they said they go around and renovate all this banks forclosures
SOUTH POINT INC
C/O WILSHIRE FINANCIAL CORP
PO BOX 1630
PORTLAND, OR 97207
Keep an eye out for this banks REOs
Happy Hunting
Doug E
Re: Talk about Luck… - Posted by james(SO CA)
Posted by james(SO CA) on August 05, 2008 at 22:02:46:
Sweet. I am looking for REO’s in So California as well.
Maybe I ask banks to throw in some of these stuff: appliances, landscape, paint, per my choice 
Buy another one! - Posted by Wayne-NC
Posted by Wayne-NC on August 02, 2008 at 03:35:33:
You bought it “as is” all right. “As is” in future condition. Now you have credible information and actual experience to go on. REI is all about knowing your market. You found one! Now that everybody knows it, you have competition. Something else REI is all about. You found the “fishing hole”.
Re: Buy another one! - Posted by Doug E
Posted by Doug E on August 02, 2008 at 22:02:16:
We are here to share info… Not just take info and give nothing back… hmmmm…
Doug E
Re: Buy another one! - Posted by RichV(FL)
Posted by RichV(FL) on August 02, 2008 at 15:53:34:
Competition? No way! The lame brain media told me we cant make any money in REI anymore! You know me Wayne…I hang on to every word they say! lol.
Rich
Re: Buy another one! - Posted by Brian_Wa
Posted by Brian_Wa on August 02, 2008 at 12:43:05:
So are you saying that Doug shouldn’t have revealed the info?
Brian
Re: Buy another one! - Posted by Wayne-NC
Posted by Wayne-NC on August 03, 2008 at 05:09:37:
Nice. Then turn it around against them. Yea, I’m lovin’ it!