Comments on: It's A Freekin' REO FRENZY!

By: Jeff Green

Jeff Green — Sat, 16 Jan 2010 10:25:54 +0000

REO is the real thing these days, no doubt. That’s why there’s sudden increase in its rate and yes, Bulk REO Investing. Great post Brandon!

By: glenn

glenn — Mon, 04 Jan 2010 20:17:35 +0000

I actually plunged early, ~ 10 am that morning.

…. thanks for the reply on the property …

By: Brandon

Brandon — Mon, 04 Jan 2010 19:56:48 +0000

Hey Glenn,
Despite the duplex and 36′x36′ shop on the property that can combine to generate $2K/month, the value is in the dirt. It’s zoned for upwards of 60 units and is driver/sandwedge from WWU. The taxes could possibly be renegotiated with the Assessor and a strong enough case is there to be made to have them lowered, in my opinion, but whether or not they stay high, the equity is astronomical and worth it.
Of course… this is just my opinion.
Hey, missed you at the Padden Plunge on New Year’s!!!
Brandon

By: glenn

glenn — Mon, 04 Jan 2010 19:25:57 +0000

so on the “secret” one, how are the property taxes of ~11k being figured into the buyers strategy. Will the city automatically lower the assessed value to the new sales price??? Just curious….