REO
I have noticed that some investors will not purchase REOs. I am curious why investors would walk away from a home that a majority of the headaches (second mortgages, back taxes, etc) are already taken care of. Your thoughts, guys?
Where I am from, they are generally priced above what i could acquire the same house for on the open market. They are generally run down, and in need of repair. And if I don't want to tie up my own cash, I have to use My own credit to purchase them.
Jeff