All Forum Posts by: Alison Michel

Ah ha! Thanks @Scott K.

Hi All, thanks for your responses! Looks like 3 out of 4 say coincidence (with one no-decision from Account Closed), so that's reassuring.

@Sharad M. , yes, that's my main question. I definitely will check to see what I can learn when it closes; thanks for the tip on checking comps. I hadn't met the agent previously, so have no sense for her either way. She was nice and knowledgable; I found her through Redfin's "see this property."

@Joseph Weisenbloom , it was a HomePath foreclosure in a college town about 45 min outside Baltimore. Not a terribly hot market from what I can tell, but does have those two factors going for it. That said, I should check activity in this area over the past few years to see how much it's changed over time (which I'm thinking is a good way to determine hot-ness?) Also, lucky I included 'shenanigans' in the title -- wasn't sure how else to find my original posting to read your comments! Any BP veteran advice on that??

@James Wise , great advice. From what I gather, if I'm really going to be an investor, I need to put in an offer on anything that fits my general criteria and then work out the details. Is that right?

Thanks again!

HI @David Cummings and @J. Martin ! Thanks so much for the welcome and advice. I have downloaded the podcasts and look forward to listening -- this week's podcast about REI while holding a full time job is VERY relevant! :) And that Learn link at the top of the page is like a gift that keeps on giving -- every thing I click on is full of useful and interesting information. It's so exciting! Which brings up a question -- why isn't everyone investing in real estate??

Thanks @Ramon Jenkins -- won't it be sweet someday when I can take a picture of that vision!

Thanks @Brandon Turner - yep, my keyword alerts are keeping me plenty busy with new info! And I'm doing lots of reading, including 7 Years to 7 Figure Wealth -- in fact, your former website is what got me connected to BP. So thanks!

@Account Closed That's awesome! Thank you! I'll do the same. Nice website too. I see you started in 2012 -- how did you get your first deal?

Hi All,

So, I signed up via Redfin to see a potential investment property that had been on the market for 100+ days, and while we were there we talked with the agent at length about the logistics of renting it out, and all agreed it was a solid investment. We didn't commit but she offered to send comps (which arrived about a week later). But, the day after we visited the house, it went Pending. Coincidence? I'm not sure. Now there's another multiunit property we're interested in, but I can't get specs to even determine how many units, so can't apply the various rules of thumb to see if it's worth pursuing. BUT I'm gunshy about asking an agent to show us another potential investment, for fear of it disappearing. Hmm... a few thoughts:

- If the agent did put a bid on the house (or told a friend who did), I'd guess that is legal, and just part of the game. If that's true, just wondering, how often does that happen?

- Or, it's just coincidence. But this was January when presumably the market is slow (except for investors, I hear?)

- So one answer might be that I need to find a reliable agent to work with in the long term -- but because I'm not sure when I'll be ready to pull the trigger (I've been looking at houses for years), I hate to lead an agent on, and instead have relied on the one-night-stand that is Redfin's "show me this property."

What do you think? Am I overthinking this? Should I just call up a broker and ask for an appointment?

Thanks for your advice!

Alison

Ha, thanks! Sorry if you had to learn that one the hard way and hope I don't too. The underlying message there seems to also be to trust your instinct and not let second chances get in the way of good business. Duly noted :)

Hi @Ali Boone ! Close enough indeed. Thanks for the welcome. Interesting to hear there are anti-RK folks out there, but then again, aren't all public figures subject to scrutiny....

I just signed up to download your book -- great looking website and nice logo.

Here's a question fitting for the newbie forum: what's the one piece of advice you wish you could go back and tell yourself before your first purchase?

Thanks!

@Devonte Dinkins Sounds like you are in a good spot for sure. The nice thing about your pursuit is that you can either use REI to fulfill your goal, or REI to allow you to work in a job that helps everyone get real housing, while not sacrificing your own (and future generations') financial future. It's a shame that everyone is taught you have to be an MBA or lawyer to make money in the world. That said -- I'm not making money from real estate yet but I sure believe I will!