REDC

REDC auctions can be a great source of business for primary residence buyers and also investors. I specialize in working with investors so this blog is going to be focused around that.

I recently represented a group of investors at REDC. We made a bid on a beautiful house in a cookie cutter neighborhood in East Orlando called Deerwood Run and won. We won the bid at $68k. This house would EASILY sell for over 100k, with multiple offers without breaking a sweat. The owner of this house was Fannie Mae. Some have told me they've gotten around an issue I'm about to write about, but some, like us, have been a little stuck and currently looking for a way around it. Per contract, FM won't let us sell the house more than $80k within the first 90 days. Yes, if we sold it for 80k, we'd still pocket 10k or so, but why not sell it for 100k and pocket 30k+? This is just a small hurdle we're looking to overcome. WHEN, not if, but WHEN we find the solution, I will post it right here.