My journey in Real Estate and the Untold truth about the business

[Luz Pagan]

Hello everyone,

So if you go to my main page your will see that I invested in 3 properties the same year. This situation started in 2018 and I was all over the place. Then my husband wanted to buy a gas station and manage it. The latter was a terrible investment decision. We lost 300k, and we were slaves of the business with no earnings.

My first investment went this way: We bought the house  and fixed. we invested the same almost amount almost the same amount of the purchase price $89 K. We started with "Sale by Owner" that took us some time. We hired a real estate agent who was given approximately 2 months to sale the house. She took the challenge. However, she could not sale the house and came back with the great idea of reducing the house price (sarcasm) We said, Absolutely "No" The neighbor value is a working class neighborhood. Lowering our profit, plus her commission would have been a lost for us. No way I was losing more money, after the gas station fiasco.

We sold the house, but not as expected...We became the bank and sold it for the price plus a 4% interest. No a bad deal for the buyer or us. We could have asked for more money, but we are honest people. However, we did ask for a down payment of 37K. We have received Note Offers from companies, but we have received very low offers for the notes. Lenders are able to gain all the interest as long as they give us the principal owe. However, there are a lot of sharks in the water. I understand everyone wants to earn something, but the reality is that becoming a bank or selling a note is not as profitable for those of you who want cash now, as it could be. In addition, we did so many upgrades to that house that the market value increase significantly in the area.   That is the only bad thing about becoming the bank.

On the lot that we bouhgt, we received an offer from an unknown company, but they only offer us 20K. Not bad, but I am ambitious. We posted the land for 53K. It has two days on the market as your read this.

Our last and 3rd investment in real estate property was a beautiful house in a very high class neighborhood. We also posted it on Zillow two days ago. There are so many people inquiring about it and some many view in Zillow that is ridiculous. We have an open house tomorrow and we are expecting to sell that house for top dollars. I personally will never advised a new person to buy more than one property at the time. We have learned a lot, but this has caused us a very long delay with no earnings that can make me leave my job.

Now I am trying to sell the house without a realtor. Honestly, I have worked so hard that I do not want someone charging me or inquiring about a small commission for doing nothing, but waiting for clients. This time we are selling by owner, without offering finance to anyone.  Honestly, I do not mind giving  realtor some percentage, but why? I have done all the work without the realtor's help. What do you guys think?

A piece of advise to new people. IF you do not have the finances to rent, or do a note. DO NOT DO IT. Just buy and sale. Do not hold properties.