Bank REO calls outsourced

[briansd1]

$160k is a good price jpinpb.

I agree with you on the 404k minimum bid thing.

So many lies in real estate. You just have to ignore what others say and bid what you think is fair.

I was helping a friend rent a live/work space in Downtown SD. We go look at the property and they say only 1 unit is available, blah, blah, blah.

But from watching the building, we know that are plenty of unoccupied units.

It’s a question of who blinks first. If you have more wherewithal and alternative options, you will win in the end.

[jpinpb]

brian – funny you mention the word “wherewithal” again. I was thinking about that word today. When it was first used, it seemed to make sense. But I’ve come to accept now that “wherewithal” is meaningless in so many ways.

During the bubble, it didn’t matter if you had money (wherewithal) to qualify for a loan, as they were giving them to dead people.

Now it doesn’t matter if you have the money to make your mortgage payments (wherewital) b/c banks are not filing NODs, not foreclosing and basically allowing people to live for free for a very long time, like 2 years in some cases.

So to me, “wherewithal” is meaningless now. You can live for free and your “wherewithal” is as good as the banks giving you the “wherewithal.”

Sorry for the tangent. With regard to this place, I guess lessoned learned. Put in the low offer anyway, regardless of what other people bid.

[jpinpb]

brian – funny you mention the word “wherewithal” again. I was thinking about that word today. When it was first used, it seemed to make sense. But I’ve come to accept now that “wherewithal” is meaningless in so many ways.

During the bubble, it didn’t matter if you had money (wherewithal) to qualify for a loan, as they were giving them to dead people.

Now it doesn’t matter if you have the money to make your mortgage payments (wherewital) b/c banks are not filing NODs, not foreclosing and basically allowing people to live for free for a very long time, like 2 years in some cases.

So to me, “wherewithal” is meaningless now. You can live for free and your “wherewithal” is as good as the banks giving you the “wherewithal.”

Sorry for the tangent. With regard to this place, I guess lessoned learned. Put in the low offer anyway, regardless of what other people bid.

[jpinpb]

brian – funny you mention the word “wherewithal” again. I was thinking about that word today. When it was first used, it seemed to make sense. But I’ve come to accept now that “wherewithal” is meaningless in so many ways.

During the bubble, it didn’t matter if you had money (wherewithal) to qualify for a loan, as they were giving them to dead people.

Now it doesn’t matter if you have the money to make your mortgage payments (wherewital) b/c banks are not filing NODs, not foreclosing and basically allowing people to live for free for a very long time, like 2 years in some cases.

So to me, “wherewithal” is meaningless now. You can live for free and your “wherewithal” is as good as the banks giving you the “wherewithal.”

Sorry for the tangent. With regard to this place, I guess lessoned learned. Put in the low offer anyway, regardless of what other people bid.

[jpinpb]

brian – funny you mention the word “wherewithal” again. I was thinking about that word today. When it was first used, it seemed to make sense. But I’ve come to accept now that “wherewithal” is meaningless in so many ways.

During the bubble, it didn’t matter if you had money (wherewithal) to qualify for a loan, as they were giving them to dead people.

Now it doesn’t matter if you have the money to make your mortgage payments (wherewital) b/c banks are not filing NODs, not foreclosing and basically allowing people to live for free for a very long time, like 2 years in some cases.

So to me, “wherewithal” is meaningless now. You can live for free and your “wherewithal” is as good as the banks giving you the “wherewithal.”

Sorry for the tangent. With regard to this place, I guess lessoned learned. Put in the low offer anyway, regardless of what other people bid.

[jpinpb]

brian – funny you mention the word “wherewithal” again. I was thinking about that word today. When it was first used, it seemed to make sense. But I’ve come to accept now that “wherewithal” is meaningless in so many ways.

During the bubble, it didn’t matter if you had money (wherewithal) to qualify for a loan, as they were giving them to dead people.

Now it doesn’t matter if you have the money to make your mortgage payments (wherewital) b/c banks are not filing NODs, not foreclosing and basically allowing people to live for free for a very long time, like 2 years in some cases.

So to me, “wherewithal” is meaningless now. You can live for free and your “wherewithal” is as good as the banks giving you the “wherewithal.”

Sorry for the tangent. With regard to this place, I guess lessoned learned. Put in the low offer anyway, regardless of what other people bid.

[bearishgurl]

Sherman/Grant Hill are “up-and-coming” areas due to the ballpark. $160K was a good price to for this. It will rent positive cash-flow at that price, incl. maint.

Probably has wide-slatted wood floors with the matching “nails” and poss. some leaded glass. Kind of reminds me of several ‘hoods in SF, on a smaller scale, of course.

[bearishgurl]

Sherman/Grant Hill are “up-and-coming” areas due to the ballpark. $160K was a good price to for this. It will rent positive cash-flow at that price, incl. maint.

Probably has wide-slatted wood floors with the matching “nails” and poss. some leaded glass. Kind of reminds me of several ‘hoods in SF, on a smaller scale, of course.

[bearishgurl]

Sherman/Grant Hill are “up-and-coming” areas due to the ballpark. $160K was a good price to for this. It will rent positive cash-flow at that price, incl. maint.

Probably has wide-slatted wood floors with the matching “nails” and poss. some leaded glass. Kind of reminds me of several ‘hoods in SF, on a smaller scale, of course.

[bearishgurl]

Sherman/Grant Hill are “up-and-coming” areas due to the ballpark. $160K was a good price to for this. It will rent positive cash-flow at that price, incl. maint.

Probably has wide-slatted wood floors with the matching “nails” and poss. some leaded glass. Kind of reminds me of several ‘hoods in SF, on a smaller scale, of course.

[bearishgurl]

Sherman/Grant Hill are “up-and-coming” areas due to the ballpark. $160K was a good price to for this. It will rent positive cash-flow at that price, incl. maint.

Probably has wide-slatted wood floors with the matching “nails” and poss. some leaded glass. Kind of reminds me of several ‘hoods in SF, on a smaller scale, of course.

[briansd1]

[quote=jpinpb]
So to me, “wherewithal” is meaningless now. You can live for free and your “wherewithal” is as good as the banks giving you the “wherewithal.”

Sorry for the tangent. With regard to this place, I guess lessoned learned. Put in the low offer anyway, regardless of what other people bid.[/quote]

I know what you mean jpinpb.

Eventually this whole system will come crumbling down. You need the wherewithal and the patience to outlast them all.

Despite all the money being thrown at housing, the bad news keep on piling.

But you’re right, as long as there incentives for banks and developers to have empty units, and non-performing loans the market is anything but normal.

[briansd1]

[quote=jpinpb]
So to me, “wherewithal” is meaningless now. You can live for free and your “wherewithal” is as good as the banks giving you the “wherewithal.”

Sorry for the tangent. With regard to this place, I guess lessoned learned. Put in the low offer anyway, regardless of what other people bid.[/quote]

I know what you mean jpinpb.

Eventually this whole system will come crumbling down. You need the wherewithal and the patience to outlast them all.

Despite all the money being thrown at housing, the bad news keep on piling.

But you’re right, as long as there incentives for banks and developers to have empty units, and non-performing loans the market is anything but normal.

[briansd1]

[quote=jpinpb]
So to me, “wherewithal” is meaningless now. You can live for free and your “wherewithal” is as good as the banks giving you the “wherewithal.”

Sorry for the tangent. With regard to this place, I guess lessoned learned. Put in the low offer anyway, regardless of what other people bid.[/quote]

I know what you mean jpinpb.

Eventually this whole system will come crumbling down. You need the wherewithal and the patience to outlast them all.

Despite all the money being thrown at housing, the bad news keep on piling.

But you’re right, as long as there incentives for banks and developers to have empty units, and non-performing loans the market is anything but normal.

[briansd1]

[quote=jpinpb]
So to me, “wherewithal” is meaningless now. You can live for free and your “wherewithal” is as good as the banks giving you the “wherewithal.”

Sorry for the tangent. With regard to this place, I guess lessoned learned. Put in the low offer anyway, regardless of what other people bid.[/quote]

I know what you mean jpinpb.

Eventually this whole system will come crumbling down. You need the wherewithal and the patience to outlast them all.

Despite all the money being thrown at housing, the bad news keep on piling.

But you’re right, as long as there incentives for banks and developers to have empty units, and non-performing loans the market is anything but normal.

[Author]

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