All Forum Posts by: Account Closed

inspection, inspection, inspection, inspection!! don't buy it without getting into it. What is the reason they are stating for not letting you view the property? If I couldn't view it and especially if I couldn't get an inspector in there, I wouldn't risk it.

That is scary, especially with all of those ticking ARM bombs. I wonder if ARM commissions are like variable annuity commissions in the insurance world? Hmm.......

I think that is an excellent plan. One thing I would recomend is studying up on other factors in real estate besides the home. Things such as finance and taxes. After all, at the end of the day it is all about the mighty dollar.

Which problems that realtors have with investing are you refering too?

you're getting into some complicate contractual work. get an attorney. It's worth protecting yourself

where did you find the property? was it no the MLS or was it on a "foreclosure website" Many of these "sites" will show you incredible deals as teasers when the property is not, or never was available in order to get them to contact you. Then they say something to the effect of "that one is gone, but we have more coming up every day and you can blah blah blah..........send us money" So I would try to find an agent as well. He can run the comps, find the properties the day they come on the market, let you know if they are a good deal, and negotiate the sale. Still curious as to where you found it?

probably not, many time the banks agent is the trustee on the deed of trust which will assure his presence.

every market is different. the national news takes the numbers as a whole. Our market is very strong here in Austin but I know some places are hurting, so you have to look at the individual market, not so much the national. Part of that statistic could be contributed to the fallout in the sub-prime lending market. When lenders were competing for business and constantly lowering their requirements to get a home loan, almost anyone could buy a home. Now that is no longer the case and people these loans were tailored to were mainly first time home buyers. The result.....a drastic drop in the amount of first time home buyers. One way to capitalize on this is to purchase homes that would fit this catergory. Homes that would be in the price range of first time buyers will now be more plentiful since less people can qualify for them. At the same time many of these homes might be in foreclosure of or pre-foreclosure for the same reason. Now there is a large market share that would have to rent instead of purchase making rental property more scarce and driving up rental prices. BUT as was said above you make your money when you BUY and each situation is different so you still have to do your research. Don't let the national news alarm you too much (unless you live in Florida :lol: ) Take a look at your individual market to decide where the demand is and what the best play is.

A "Bird Dog" goes out and finds potential investment opportunities for investors and gets paid a fee in return. The best advice I can give you is know the areas and know the market. You have to know the numbers and as much information about REI as possible so that when you do bring a potential deal to an investor it is actually a deal. If you bring them too many duds then they are going to be less likely to take a look at what you've found. Another thing is to keep your ears open when you are around friends and family. It is amazing what personal situations people will talk about when it comes to their friends and their families and their finances.

The realtor will probably have more up to date information as to the status of the property than the reps.

It sounds like it's in a transition. If so, is it transitioning towards residential or commercial? I would go with the trend. I would especially talk with a zoning consultant before diving into this one. It doesn't cost that much and will be well worth the money in a situation like this.