All Forum Posts by: Jeanne Michael

Thank you for these great answers. I will begin to incorporate them into my wholesale business. BTW, I am not an agent, I have been appraising but really want to make money - real money.

Great responses, I will be spending more time on this forum!

Look up the state's real estate appraiser licensing dept. They should have a list and will also tell you if the appraiser has a clean record.

If any of the re agents have buyers who are wanna be investors or seasoned, why don't they work on the other side of the reo?

And.. right now Stockton California and many other towns in California are ripe for buying good investment property that can be rented with positive cash flow. Sacramento region is another area, can you say 3 hear old 3000 sq ft house for $320,000 or 2800 sf 2 year old house for $299,000. And that is NOT in stockton, they are even cheaper there. for instance 1600 sf for $210,000 that is only 2 yrs old in a good part of Stockton. If you haven't been there in the last 3 years, it is alot different. and no I don't live there, its just one of my areas that I work in.

I am looking to locate a list of investors in my area since there are so many good deals (for CA) in my general area.

Someone suggested bandit signs but, our cities are all over getting those down and fining you for putting them up. I tried craigslist, and was not successful.

I have attended some Meetup re investor meetings that seem to be conduits for real estate agents to attract people.

Are REI clubs that advertise the national stuff any better for locating investors?

How do I tell a seasoned investor from a newby at the REI?

Any suggestions would help. I am trying to build a bird dog or wholesale business fast time.

Jon, are you a very experienced investor? Reason I am asking is this is the answer that anyone who has been doing this a long time say "If they can't pay the house payment, they won't pay the rent."

My issue are the people who got caught up in the "must buy" craze at hyperinflated prices, paid some lucky homeowner or builder waaaaayyy too much due to the hype. The lucky sellers walk away with a mint and the poor schlep who paid the overinflated price is now stuck with mortgage loan way over value and a house that is worth $100k or more less than the loan.

Why isn't some group putting together a fund to buy these houses from the lenders and reselling to current owners at a fair market value while making money on the loan interest?

Imagine if the Bear Stearn funds went to the ripped off homeowners or the suckered home owners who bought in on the loan officers who promised the moon and sold them the bad loans.

Just my humble opinions, no improper content was intended if anyone reads it that way.

You can feel secure with realquest, dataquick, ndc data, these are the sites used by professional valuation consultants.

Be careful with zillow and many of the other free generic sites. Zillow uses comparables from more than a year back which really skews the numbers. Many banks are now looking only as far back as 3 months recent sales and also current active listings.

Agents make very good money and should be used to get comp info, it's not really alot of work, they can pull the listings and provide a copy to you with basic details. But, you could use this to learn which realtors you like to work with and who are good at what they do.

Yes, there are some RE agents that make you wonder why they are in the biz. Have you asked if there are any other offers on the property? Did you check values to see if it is a good price? Hint, look at solds for past 3 months within the subdivision and also look at active/pending in the subdivision. It may just be the CW, I am hearing lots of hassle and noncoop from them.

Hi,
Nice to meet locals on this forum. I do appraisals also. Wow, your Sacramento area is full of great offerings for investments at this time. We need to get the word out to those in the rest of the country. Cause when this turns around, as it will, some people are going to make a lot of money. I'd personally like to help them get there.

Enough for now. Just wanted to say hi to my neighbors.

Hi,

I have a question for you. Two years ago I was looking at RE in SLO and the agent said it was HOT HOT due to the college area.

How is it going now? Is it still hot? Are the REO's increasing? What's the market like at this time?

She said there is was a housing shortage due to university. Is there still? What are rents?

I am in norCal, east of Oakland (on the edge of the Bay Area in Livermore - the last frontier before the Central Valley). We have so many REO's and foreclosures that they are driving the market. The bad thing is the lenders are selling higher than the retail market. But DOM is still less than 3 mos.

We need to put together a CA pool, because we are still having MORE people coming into the state, then people who are leaving, so you know housing prices WILL go back up.

Hello,
I am a newbie from the San Francisco, CA area (East Bay). I am now using my RE Appraiser skills to bird dog for investors. I am new to this site and really have enjoyed the info provided in the forum area. Glad to see it go the next step in evolution.

I am learning to enhance my RE skills beyond appraisals with loss mitigation, short sales, and wholesaling, in the meantime I see so many good properties, that I would love to share with any interested parties and learn by working with you. So contact me if you please.

I hear so much negativity in the news and see so much opposite in the real world. There are so many GREAT opportunities out there, but, people don't seem to know about them. And if its a bad market, why are DOM still at less than 100 days? Guess the hype makes for more watchers on tv news shows.

Anyway, do you like my Simpson avatar?