All Forum Posts by: Andrea Hewitt

Has anyone ever done their own title search before?
What is involved? What are the important things to look for once you are down at the courthouse?
Are there any other important documents to ask for?

I just did a google search on the term "credit check on tenants" and several companies came up that will do credit checks for you for a fee.

There was also a page on eHow.com, "How to Run Credit Checks on Prospective Tenants" that has a step by step process that could laso work for you.

If you have a property manager, they should be able to do it for you also.

I admire people who have goals that will help others.
You did not say anything about you background, or if it involves social work of any kind, but I admire what you want to do, and I wish you the best of luck in your endeavor.

My husband is the one who got me interested in real estate investing. He did two very important things that got me on board with him.

1- It was something that the two of us were to do together. Not just something that he wanted my permission to do himself.

2- He was patient with the time it took me to learn about investing and shed some of my fear about it. He always shared everthing that he was learning about with me.

3- He would always listen patiently to my views and respected my opinions even if he did not agree with me.

Good Luck!

Before we got married, my husband was interested in RE investing, and I had never considered it. He did several very important things that also got me interested and involved in investing. First of all it was not just something that HE wanted to do that I had to AGREE to let him do. He made it clear right from the beginning that it was something that he wanted me to be involved in. He showed respect for my ideas and my opinions right from the start. He was patient with my initial negative reactions that were mostly based on fear. To help me get over this fear and negativity he brought me in on the learning process. Anything he read about investing he would discuss with me, in detail or causually. It did not take me long to see the potential in it and start to learn about it myself.

The important points here are to make RE investing something that both of you do together, and be patient with your spouses emotions. Fear is a powerful feeling that can take a while to move beyond.

Good Luck!

I went to a real estate investment meeting recently and the general consensus was that this was the best time to buy, not just because prices are low, but because sellers are more willing to do creative financing deals due to the abundance of properties for sale, and the decrease in qualified buyers. Making sure that the properties that you buy are cash flow positive was another major point due to the lack of appreciation in the current market.

jslack, What sort of research did you do before deciding to buy? What types of resources did you use to do this research?

So, far I own one real estate investment, that is 2 months old. So, I do not have much experience.

I want to take the leap into Real Estate Development.
A few blocks from my house, at a busy 4 way intersection, across from a small strip mall, are three un-occupied and sad looking houses, all in a row. They are screaming to be demolished and replaced with condos.
I do not know how to do this.
All I know so far is that I can go to the town hall to check the tax records to find out who owns the properties, how much they are valued at, and if the zoninf got those lots will support new condo construction. If not, I will discover what it is zoned for. Maybe I could build three new 2 family homes.
If is after this step that I do not know what to do.
Any advice on what my next steps should be?
How do I find people to demolish and build for me that have a good reputation. What sort of financing is available for this sort of project? What kind of cash will I need to have in reserve to pull this off?

The properties have been vacant for quite some time. I drive by them several times a day and can hear them calling my name each time. I hate to let a good opportunity pass me by that is so close to home.

Please help me make this happen!!!

I also spend a lot of time wondering when I will be able to quit my 9-5 job. In fact I day dream about it everyday.
My concerns are not only having a financial basis to be able to purchase more property, but being able to not keep my current standard of living, and even increase it. There are also other things to consider, like health insurance for my family. That will be a big expense that I will have to take on if I no longer have an employer who pays for it. (My plan is to finance the insurance thru my LLC that I have established for the investments.)
So, I have taken my current income, and doubled it. It is a very rough estimate, but that is how much passive income I wll need before leaving my 9-5 job.
With my first investment just days under by belt, I am 25% there.

Good luck!!!

Is there some standard calcuation that investors use to estimate how much the value of a property will increase after they make certain repairs and improvements?
I am planning on redoing the roof and siding of a building that I just purchased, and want to estimate how much it could potentially increase the appraised value.