REOs Getting The Lender/owner To Finance Me?
I could pay cash for a REO, then I want to fix it up and rent it out. I would then be faced with financing it to get my money back. The thought occured to me, that the bank(the owner) might be interested in just financing my purchase right from the start, this would eliminate my need to seek financing later.
Do you think this is an option or are the banks just wanting rid of it, or would they entertain even a lower offer because they are getting it financed through them too?
I think the bank would finish their own REO if you qualify, but I don't know if they would have a rehab loan for you to purchase it and fix it up. If you have the cash to purchase, do that them run the deal through another bank at a higher value because you have done the work and make a profit. "Happy New Year"