Ok, so we've made another 8 offers....mostly on REOs. We're also still waiting to hear back from last week's offers. Nothing yet. One bit of progress is that I got a call from a woman in Hollywood who is in pre-foreclosure and wants to sell her 3/2 home for $100K. She owes $85K on the mortgage and based on recent comps the value is likely between $130-150K. We'll check out the home on Friday and see what happens. Meanwhile I've sent out another 30 letters to folks in pre-foreclosure who have equity in their homes and hope to get some calls from that soon. The idea is to send out around 100 or so letters every month to 5 targeted zipcodes in Broward county.
We're still awaiting news on what our "leaders" are going to do with this bailout bill. I'm simply not convinced that there is much creativity in Washington. There has to be a better way to solve this problem than place a $700 billion dollar tax burden on the American people. Seriously. Dave Ramsey sent out an interesting proposal on how to deal with this situation. I think it has real merit and I've sent it along to my House rep and Florida senators for consideration.
Anyways, back to REI. Hoping we'll close our first deal before the end of October so gotta get plugging away.
Wednesday, October 1, 2008
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