All Forum Posts by: Account Closed

This is a great thread. Thanks to all who are contributing!

What makes you think it's so easy to get a loan? Lending is tight from where I see it and have lots of cash and great credit. I see hard money people trying to rip people off charging 12% and 4 points but I don't see banks throwing money at investors. Not even close.

I think the issue is it isn't an arms length transaction. With that said I was just reading about an agent and his dad working together to buy short sales on the cheap. The son "represented" the dad in the purchases. Of course now they are in the newspaper and BUSTED.

I love bubbles. Let it inflate for a while I say. Just be the one selling at the top and not vice versa.

The retail investor is fleeing the stock market. Doesn't surprise me. I agree this seems to be what everyone is trying to do these days. Must be signs of a top. It's probably time to do spec houses or something similar that everyone has shunned for the past 5 years. Lol.

Millions of people are stuck with houses these days so you are not alone. This is a difficult time to start out as a real estate investor IMHO because you can easily get stuck with an undesirable home. I am not familiar with your investment areas but it seems to me if you can buy 4 houses with $10k you are definitely doing something right! I wish you the best of luck.

Hi Dave. I'm in Seattle. You might want to check out REAPS as far as an investment club. I live here but have only invested in other states. I am actually under the impression rents here are high just like home prices.

I've only been working short sales for a few months but from what I have learned the approved price is what the bank will accept...supposedly. You can feel out the broker as to whether or not they will go any lower. It's a quick close because that is the approved price by the bank and they are willing to accept an offer at that price. This is good because you can come and and not have to wait X months to find out your price has been rejected like the previous buyer that just backed out. Of course it might not pencil out now at the "approved" price.

Ask yourself why someone else would offer you a "discount property" and not do the deal themselves if it was such easy money. This business is cut throat and competitive. Be careful of wolves in sheeps clothing.

Bill Gross is a bonds salesman so of course he wants to talk the stock market down. Just like Wall Street tried to talk down real estate during the go go years a few years ago. Salesmen always talk their book. Personally I think the stock market has become so corrupt and unregulated since the Internet blew up that the only way to really make money in it is to trade macro trends. Buying and holding is ok for dividends but it's a losing strategy, been so for over 12 years now. I hate CNBC, that network is doing a huge disservice to the average investor. I can throw a dart at a board and outperform all those clowns.