Big Dreams

[N/A N/A]

Hi everybody! I am nikki from Ohio. I have been almost obsessed with Real Estate since I can remember. Some of my first memories are of helping my grandparents rehab houses they bought at auction. My first job out of high school was working as an assistant for one of the top real estate agents in the country. I loved every minute.

Then I got married, had a set of twins, got divorced, lost my house in the divorce (not a forclosure, but the ex got it) and put myself through college. That is the short version. I am now a mid-twenties single mom with a set of autistic twins. I have a good job, and I have been renting for the past five years. I graduated in June, and I am looking to buy a home. I have been looking at REOs. I figure I need a house of my own before I can become a landlord!

I am smart, quick to learn, and I know how to do a lot of rehab work on my own. But I have a family that does nothing but tell me that buying a house of my own is a mistake, and that buying investment properties is a huge mistake. I know this market. I know this market extremely well. I wake up every morning and check the MLS, county auditor's website, REO listings, auction listings, etc. I can tell you about every neighborhood in this city, what is moving, what is not, etc. I would like to be able to eventually teach my boys how to do this, so when they are older they can take care of themselves.

My big problem seems to be finding a house for myself. Once I have that, I will be fine with finding other properties. But I want a bargain. Something I can put sweat equity into, in a nice neighborhood for my boys. Has anyone else had this problem? It is the emotional factor.

Also, the whole REO thing really does confuse me. There seems to be huge discrepancies between what various agents, friends, etc. tell me. Sometimes the MLS lists a VERY different price than the REO website I look at. I have read lots of books, and looked up lots online, but nothing seems to address this.

For instance: One property I am looking at is a 3/1 with a full finished basement. Nice neighborhood. Listed in MLS at 89,000, listed in REO at 57,600. That is a big difference!

Anyway, all of your input is greatly appreciated, and I LOVE that there is a website like this. It is amazing and very helpful. Thanks again, and I look forward to reading and writing lots more!