All Forum Posts by: Ken Hicks

I purchased properties 3 hours away and I have a PM taken care of them. Networking with a good Realtor can help a lot. My friend tells me I want to get at least a 10% Return on my money. That seems pretty hard.

Dropping the price $500 does make sense now.

r2d246 congrats. Yes I argue about finding the areas that are appriciating. I bought a house that I put $20,000 down and sold it 4 years later and made $150,000. but thats over 4 years, and after the Big boom. The reason my area went up was the lack of water so the city put big building restrictions on new construction. I wish I bought 5 of those properties.

Sorry, I was going to do this but I froze. This is a female and a young pretty one. I should have asked her to get a drink then got her drunk and made a new contract :beer:

I sent the certified letter to her so in 10 days the contract is void. And yes she would get a full commission if the property did sell to a person that was showed the property before. The way she was taking she got the commission if anyone bought it in 180 days. This is actually a rehab house I purchased that I didn't see a few things that was wrong even the inspector didn't pick them up. we'll see what happens.

this is a little late for you but INTERVIEW INTERVIEW INTERVIEW YOUR REALTOR. Interview at least 3. Never just go with a Realtor that someone recommends INTERVIEW them just like the other 3. I sold my home and I interviewed 3 Realtors here is what prices they gave me $210,000 $240,000 $269,900 oh my Houston we have a problem......

I"m not an agent but I don't think $500 is going to mean a whole heck of a lot. Did you mean $5,000? I was always told to offer cash back at closing. Try to network with lenders, sometimes they have qualified people looking for a home. Tell the Realtor to have an open house and have a lender present that is familiar with first time home buyers. I would also say you need the house spotless and in prime condition. These next few months are going to be the best time to sell. With the flooding of homes in some markets I wouldn't inflate the price. I have seen homes on the market for over a year. I'm sure others will chime in soon.

nosrednehm Do you have an update on what you decided? Yeah 40k is not much at all to try and live on. that 200k would be a nice down payment for a house. look at it this way. how many years left do you have to get that 4 year degree? I would go part time till you have 2 years or less left. most colleges offer programs online now. ok lets say 3 years. so in 3 years what will you be making then? 60,000? to me that would be worth to go back to school. you can most likely get a loan I have seen them as low as 1% REI is not that easy. You see guys on the commercials with nice cars and hot babes what they don't tell you is you have to work extremely hard. Honestly it might take you 2 years just to get over the emotional part of REI if something goes bad. you said you had a friend that does it full time. maybe what he is not telling you is how he got started. not everyone has 200k to start with heck even if you put that into a money market account you can get 4% interest. thats not bad. If I was you and this is what I do. I purchase properties with my own cash, make sure they are fixed up right so you don't have problems then you refi and pull your own money out and sometimes 5k extra. SO based on that you have to calculate your purchase cost on what the cash flow and what management fees are. go to the store and check out the CD and offer generator package I think its $140 I don't buy much material just 2 programs in my lifetime and this is a good one. They have 3 books out. Secrets to real estate investing is their best one its like 15 bucks you can't lose on that. the chats help out a lot as well. well this is my input. I invest in real estate part time for retirement. I am looking to pick the pace up soon. I would diffidently stick with school at least part time if you can.

Ryujin, can you explain on a post here so others could learn as well?

SO the real job of a Realtor is to Locate a property, take you to it, Open the door, and give you comps and they do that for a mer 6% of 500,000. No wonder why they don't like questions.

I know realtor's work hard for there money. To me they honestly have to be more involved. I think if for sale by owner took off more, Realtors would be hurting. Don't get me work I do work with Realtors but they are very hard to find sometimes harder than finding deals.