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There Are Always Unknowns You Run Into In Real Estate No Matter How Much You Plan! #shorts

14 May 2024 · 1 min

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A real estate team uses virtual assistants to screen deals, then calculates a Maximum Allowable Offer before bidding at auction. Even with a tight process, bank-owned properties always surface surprises, so they avoid extensive rehab to limit hidden problems.

Chapters

Our acquisition manager is the one responsible that once we get, and also 2 VAs. So the VAs will scrub and look at these to make sure they are potential deals. Then they go to our acquisition manager where he does his due diligence. And then we get together, Michael and him get together, and then Michael and I get together to find out what our MAO, maximum allowable offer, is on these. And then it goes to auction and we start bidding. So we do have a pretty good tight process on it. It seems to be the best way to do it. There's always unknowns you run into when you're talking about anything with real estate and bank-owned. Yeah. So that's why we're trying to do less rehabbing, because sometimes you open up a wall and you got a whole new can of worms.