Buying REO properties, please advice!Hello everyone!I'm currently looking for REO investment property in Sacramento area. My target is multi-family units (fourplexes). I have RE agent who is helping me, but unfortunately no luck so far.. I want to know your professional opinion on how to win a bidding war without increasing bid? My price-range is around 200K.What I have right now:- high credit (760-780)- very strong pre-approved letters from few banks and mortgage broker;- prove of funds for downpayment. Willing to pay up to 50% down;- ??? What else should I have to increase my chance to win?Example. I found fourplex listed for 200K.- what bid would be appropriate to start with? 180K, 190K...??? or lower if go through conventional loan?- what if I pay "all cash" - how much can be my bid? 150K, 160K???Please share with me your strategy.Appreciate your advice.Thanks!October 01 2008 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.