All Forum Posts by: Ana Hyler

My first investment was out of state, it was 3 hrs. drive. I bought it site unseen (pictures only), but here is what I did... I bought the property for the lot price, so I was covered in case the house was worth nothing. I had to find a team the hard way... testing them...because even the bad contractors/workers came with good references. I had to do the plumbing twice, the first plumber was a joke ! and forget about geting your money back. I visited the property every weekend and I ended up spending at least double of what I thought it needed. It was probably a mixture of not knowing people there and making newbies mistakes...but this was 4 years ago...I fliped the property for a good profit ! It was a great experience for me but I have not done another out of state since.

I have 2 rentals (single family houses) in close to College in Lincoln NE. They usually rent very quick. My strategy is the same for any property, calculate the number the same way you would any other property...It's hard to find well priced properties near colleges... they are usually overpriced... but stick to your parameters and with patience you will find them.

Just put what you have available.... cell # and e-mail... I always make sure that there is something in the card describing my business.... rental properties for example. Hope this helps.

What do you think of this article on yahoo finance today?
http://finance.yahoo.com/real-estate/article/106238/The-Future-for-Home-Prices
Even after brutal lessons about real estate's risks, many feel it's their best shot at affluence. Find out why some experts want us to start thinking differently...

:roll:

Rich, I did learn more then I thought it was possible in a year ! LOL.. It was like getting a new degree... and getting paid for at the end.

I started in 2005, bought a house without even being able to look at it...out of state... spent all my savings, bought it cash....I thought I would need about $5000 total to rehab....ended up learing a lot about re-habing and also spent $35000 in the process. Took us a year to finish it..(lots of newby mistakes) sold it for a $35000 profit !!! After that...I was hooked ! Bought 5 more houses after that...all rentals (in state) ...I love the cashflow !

My goals for december: Finish rehabbing a house I purchased last month and rent it out and also rent a house that just became vacant (after having to evict the tenant). So...have all of my properties fully rented.

Did you make an offer on this property? What happened? Give us an update.

Does this rate cut affects the mortgage rate at all?